| by Kenneth Chase | No comments

How to Find a HMO Property on Rightmove


Okay. So, this is a quick video on how to
find HMO properties on Rightmove. So, we have got a five-point checklist. So,
the first thing we’re gonna do is we’re gonna go onto rightmove.co.uk and we’re gonna decide
our area. Now, of course it has to be an area where
by there’s a high demand on spareroom.co.uk. So usually you’ll already have an area in
mind. So, in this point, we’re going to do Walsall, Wolverhampton. And if we go on SpareRoom, if you are looking
for an area outside of Walsall or Wolverhampton, you’re gonna type in a city. So, we could
try Birmingham, rooms wanted, search now, and you’ll see that there’s 572 people looking,
there’s lots and lots of demand for people looking for rooms. If we put Walsall in here, it’s not quite
the same as Birmingham but the houses are cheaper, but we’ve got 69 people with lots
of new people which is not too bad. Wolverhampton, new today, new today, new today, we’ve got
people looking in Wolverhampton. Now, this training video is about how to find
properties on Rightmove, not about how to find your batch ’cause there are certain issues
that there are some areas where you can’t buy HMOs because of Article 4 and things like
that. So, we’re just gonna work on the basis that we’re looking in Wolverhampton. So, Wolverhampton. One second. Sorry to interrupt. I’m not saying
you can’t talk, you can hear every word. Right, sorry about that, I just had to tell the guys
next door to be quiet. Okay. So, search this area only. Price range,
if it’s less than 60 grand it’s gonna be absolutely rubbish, it’s gonna be rundown, it’s gonna
be auction. So, I’m just gonna 70 grand up and we’re gonna go up to 110. Number of bedrooms,
three. Property type, it has to be a house. Added to the site, in this case I’m gonna
do anytime. If you’re doing this every day and you’re doing it regularly you could just
every day say what’s new in the last 24 hours and it’ll save you having to fish through
everything. But we’re just gonna do any time. Include under off or sold, in this case no.
If I was doing it every day I probably would just to see what had come up, but no. So, okay great. We’ve already got a sold property
that’s come up and I didn’t wanna see the sold properties so let’s change this. To change
your filter, you’re just gonna go here and filter. And added to site anytime. I can’t
see where it’s … The layout of Rightmove, it does change. It seems to change on a day
by day basis. So, let’s do this again. Wolverhampton, this
area only, 70 grand to 110, three bedrooms, houses. You wanna leave this un-ticked. Right, here we go. So, straightaway I can
see that this house is a good house because it’s in good condition by the looks of things.
Yeah, it’s in good condition. It’s got two reception rooms. Let’s see how close it is
to the centre. It doesn’t look too far away. It says it’s .2 miles away from a train station,
which is good. But how do we find out if the area is good,
if it is close to the centre? Well, what we have to do is we have to get the address.
Now, again if it’s a really long street you might need to find out the number, but in
this case Culwick Street is just quite a small street so it should give us a clearer indication
of where it is. So, Culwick Street, Wolverhampton. We’re gonna
go on Google, we’re gonna get a map open, and directions. And let’s type in Wolverhampton.
Now, this will be smack bang-on in the centre of Wolverhampton and it says it’s 10 minutes,
2.1 miles. However, that’s when you’re driving, but we’re not gonna be driving, we’re gonna
be taking the bus. So, there’s a little bus icon here and if we click that it now says
13 mins. Boom, that works, because it’s got to be 13
minutes, sorry, 15 minutes or less from the city centre. So, on the bus you can get there
within 15 minutes, so the location works. The condition works. It’s got four rooms.
Are the four rooms big enough? Well, let’s have a look. One, two, three. The smallest
room is 10 by 6.11. Ooh, that is just shy of 70 squared feet. It needs to be 70 squared
feet and that is just shy. With it being that close, I might be tempted to book it in anyway,
but you’ve gotta draw the line somewhere. So let’s see, just to show you how this works.
There’s a really nice little app somewhere. I think it’s this one, this one will do. So,
it’s gonna be 10 by 6.11, and that is 69.16. If it’s that close, I would probably be tempted
to just go ahead and book it. So, that house pretty much ticks all the boxes.
It’s on for 110, which is a little high because we like £25,000 per room and this is a tiny
bit more than that. So, what I’d be tempted to do is ring the agent – let’s just save
the property – and ask them are they open to offers. It does say offers in region of. So, that is how you find a property. We’re
gonna find one more just to give you guys a real idea of how this works. So, these are all 110 so really, ideally,
we wanna go a tad cheaper. Now, this, I can see straight away is auction which is no good.
So, you always wanna just have a quick look at the description before you click into something.
Again, this is auction. Unfortunately, there’s no way of searching, “Let’s not look at auction
properties,” I wish there was. So, this property here, the condition’s good.
Well, it’s okay. I always like to look at a floor plan. So, you’ve got your three bedrooms
and your two reception rooms, but I can already tell by the floor plan that that bedroom looks
tiny. So, let’s see. Okay, okay, it’s not that tiny. But it is still smaller than the
70 squared feet. You’ve got your two reception rooms, kitchen, three bedrooms, bathroom and
and outbuilding with WC which is great. But that one room unfortunately is not gonna be
big enough. If the property is absolutely amazing but
the only problem is the smallest bedroom, you can move partition walls sometimes. So,
it might be that you could literally move this wall and put it here and then make that
room bigger. It seems like a really big hallway. So, sometimes we can still view properties,
but you don’t wanna waste time and you don’t wanna clutch at straws. Let’s see if we can see a picture of this
hallway upstairs. There isn’t a picture of the hallway. So, yeah, it’s okay. It doesn’t majorly excite
me. Yeah, it’s decent condition. The kitchen looks pretty small. It’s okay. You could possibly
make it work, but it’s not an absolutely amazing one. So, let’s see what else we got. Right, Hardy
Square. Okay, the condition looks okay. A floor plan’s a really quick way … There
we go, I can see straightaway this is no good because it’s not three bedrooms, the third
bedroom’s too small, it’s only got one reception room. Again, if that reception room was absolutely
massive and this room was big, you could put a partition wall and turn it into two. But
in this case, it’s just not gonna work. Right, this one. Again, this looks very country
so let’s have a quick look at the area. It doesn’t look like the area’s good. It’s 2.8
miles from the nearest train station and I can see straightaway this is way too far out
of the town for it to work. So, that one’s not gonna work. All right, that one’s not
gonna work. It can be very time-consuming, especially
when you’re looking at loads. But what you’ll find this, if you do this every day it will
probably only take you like maybe 10, 20 minutes to do an area. So, it’s not that bad. Right, this one. It’s annoying, it’s not got
any pictures. It’s got two reception rooms. It looks like it’s in a good location. It’s
not too far, but because it’s off a main road it’s always good. If it was here, it would
be no good, but because it’s off a main road that is not bad. Let’s do a route planner and see how far away
it is. So, it’s Douglas Place, so what you’re gonna do is you’re gonna type in Douglas Place,
Wolverhampton. From Wolverhampton, okay, it’s 16 minutes. So, it’s kind of just over. Now, if it was absolutely perfect, four bedrooms,
a hundred grand and it was 16 minutes, you might be able to let that pass because it’s
only a minute over. But when you start being too compromising on everything, that’s when
you can suddenly start ending up with bad properties. So, with this one, the area’s kind of just
about potentially okay. There’s practically no description on the condition or the sizes.
Let’s see if there’s a brochure. Sometimes there can be more details if you click on
the brochure. There’s very little. So, in this case I’d ring up the agent and I’d just
say, “What’s the condition like? What’s the craic? What are the room measurements?” and
things like that. But we can’t really be excited about that with so little details. Let’s have a look at this one. Caledonia Road.
I bought one in Caledonia Road before. Condition looks great. Yeah, absolutely brilliant. But
what else? You’ve got a dining room and a lounge and a kitchen diner. Brilliant. Let’s
see the room measurements. I always rush to just see the third room. The third room’s
big, brilliant. One, two, three big rooms. Kitchen diner. This could be a five-bed, because
you could potentially do the kitchen diner as your communal area and then turn these
both into a bedroom. I know the area’s good but let’s just click
on it and I’ll be able to show you. So, again, you can see that it’s really close to the
centre. I can tell without doing a planner that this one’s gonna be okay, but if you
wanted to do a planner … Now, Caledonia Road, how big is it? Okay,
it’s not too big. It’s quite small. Remember, if it’s a really big road you’re gonna need
to find the door number and do an exact route planner. But in this case, because Caledonia
Road is not big … You can see, I’ve already found there two
or three good properties just in the last 10 minutes, so … Okay, it’s 11 minutes on
the bus to the centre and you could walk it in 23 minutes. That’s a good sign, that’s
a good sign. So, the location is brilliant, the condition
is brilliant, the price is brilliant, and you’ve got three bedrooms and two reception
rooms. So, that is one that we need to get into absolutely ASAP. So, as you can see, in the last 10 minutes
or so I’ve found two or three good properties and that is what we’re wanting to do. So,
every day, little and often, that’s how you find properties. So, just do a recap and go over the five boxes.
Location, you need to be 15 minutes from within the centre. Usually that’s within one and
a half miles away. There needs to be four let-able rooms, minimum, and they need to
be at least 70 square feet. The maximum asking price needs to be 105. If you’re looking at
properties that are on for 115, 120, it’s just not gonna fly. And also, lastly, no auction properties, no
50% shares, no cash offers only. Just read the description and just check that there’s
no catches, there’s no problems before saving it. And that is how you find HMOs online.

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