Ex-water company executive and current property investor Clair Mcardle used her sense of style and some elbow grease to turn a three story house with a great layout and location but tired interior decoration into a House in Multiple Occupation (HMO) in just four weeks. She had feature walls painted white, installed new tiling to replace the busy peach ceramic of the previous owners, and installed a breakfast bar. She also replaced dated boiler systems, doors, fire alarms and lighting. Mcardle bought the house for £190,000, and after an investment of less than £25,000 is making a 27.5 percent return on investment.
Key Takeaways:
- With four weeks and about £25,000 worth of improvements and other costs, ex-water executive Clair Mcardle turned a three story home into a profitable HMO.
- Clair replaced an outdated boiler and water heater system, as well as old doors, the fire alarm and parts of the lighting system.
- Clair installed white feature wallls and a breakfast bar, and replaced the busy peach-hued ceramic tiles with new tiling.
“The house ticked all of Clair?s boxes. It was in an area she liked, close to local amenities and provided a variety of sources from which to pick potential tenants. ?The layout was fantastic for a HMO already: large bedrooms, one with an en-suite, and two large modern bathrooms to give me the right bathroom to tenant ratio,? she says.”
Read more: https://www.insidepropertyinvesting.com/case-study-hmo-interiors-claire-mcardle/
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