Property multi-millionaire Glenn Armstrong launches HMO sourcing service for advanced investors
A national network of graduates from the Glenn Armstrong Property Partnership initiative is now set to provide a sourcing and management service for advanced investors who don’t have the time to find suitable properties for their portfolios or want to invest in properties in parts of the country distant from their homes. The service sources properties suitable to be HMOs (houses in multiple occupation also known as multi-let houses) which provide higher investment returns than individual buy-to-let properties.
Launching the new service (glennarmstrong.com/hmo-sourcing), Glenn Armstrong said, “Many investors live in and around London, but they don’t have the time to source, refurbish, upgrade and manage properties themselves. Or perhaps they want to invest in the lower cost, higher yield areas like Liverpool, Hartlepool, Newcastle etc. (which produce far better net cashflow and yield than London properties) and know that they can’t effectively do this themselves from their southern locations.
“So I’ve trained my team of property development partners throughout the country to source, upgrade and manage profitable HMO properties all around the UK.”
Armstrong’s HMO sourcing team are all experienced property investors in their own right – so they are highly skilled at what they do. All have been trained and mentored by Armstrong himself and have graduated onto his Partnership Programme - where Armstrong and the Partner undertake joint venture property projects from a few £100k to several £million per project.
Armstrong and his partners typically have some 50 to 60 property development projects underway around the UK at any one time.
“Because they are looking for refurbishment and development projects all the time, my partners are highly experienced in finding the right sort of properties to each investor’s exact specifications,” said Armstrong. “And as my partners are spread throughout the UK, we can source upgrade and manage HMO properties almost anywhere in the UK to suit each specific investor’s requirements.”
The sourcing team are all trained in refurbishment estimation and are also skilled in the project management of any upgrades to properties that may be required to make them profitably rentable. They can also either manage the entire property for the investor, or introduce the investor to a suitable letting agent in the local area – one specifically skilled in HMO management.
“This is not a scheme for amateur investors” warns Armstrong. “We will find HMO properties for investors, we can manage refurbishments and tenants if required, but we are not financial advisors and so it remains the investor’s responsibility to do full due diligence. Investors must demonstrate to us that they know what they’re doing when it comes to property investment.”
Armstrong also pointed out that this is not a managed-investment programme and that investor’s capital is placed directly into the property by the investors’ solicitors and not through Armstrong’s company. Fees are of course charged for the sourcing service and for additional services if required.
“What we can do is find properties with high yields often at below market prices and provide experienced local hands-on expertise to make the process far easier for time-poor cash-rich investors to own the more profitable HMO properties.”
Advanced investors can find full details at glennarmstrong.com/hmo-sourcing
To see Armstrong's recent warning to those who might be thinking of investing their pension pot into property please see Danger-ahead-for-pension-pot-property-investors
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