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.