Ashley Road, Parkstone, Poole

At the time of writing this is an ongoing project and we’re currently back to bare brickwork everywhere.

The house was purchased at fairly close to market value – perhaps 10% below – and in truth I would normally want a bigger discount. However the property is smack bang in the middle of a busy secondary shopping area, with well over a hundred shops extending in both directions and will make a perfect HMO.

Originally a large detached house, we’re gutting it, and have planning to convert to an 8 bedroom HMO, with every room having its own on-suite. The cash flow should be excellent, but there’s an awful lot to do before we get to the point of being able to rent out rooms.

In addition to massively refurbishing everything, we’re also building on at the rear to create a large kitchen dinner with an equally large social space. I much prefer a larger combined kitchen/social area, as in my experience tenants prefer to socialise in this way as opposed to under-using a separate lounge, which could have become another bedroom.

 

 

Sadly the original builder took lots of shortcuts, a good example of which can be seen in the following video. One of the big advantages of cutting back to the brickwork however is you can resolve these issues relatively quickly and cheaply.