Ep. 97 - Established HMO Conversions

Help Shape The HMO Property Show! Tell us what you love, what you'd change, and what topics you want next. Take our quick survey here: https://wkf.ms/419QNLa In this episode of the HMO Property Show, host Neil Gibb shares his expertise on converting established properties into Houses of Multiple Occupancy (HMOs). With the property market in Perth, Australia, experiencing significant price increases, Gibb discusses the challenges of finding suitable properties for HMO conversions and the strategies he uses to identify and evaluate potential opportunities. Gibb walks viewers through the process of analyzing floor plans, estimating conversion costs, and calculating potential rental income for several example properties. He highlights the importance of maintaining adequate common areas and ensuring the bedrooms are of a suitable size to provide comfortable and affordable accommodation for tenants. [00:00] Introduction to the HMO Property Show and the current property market in Perth [02:30] Strategies for searching for and evaluating established properties for HMO conversion [06:00] Analyzing a 4-bedroom, 3-bathroom property in Rivervale [16:00] Exploring a 4-bedroom, 3-bathroom property in Hocking [33:00] Reviewing a 3-bedroom, 2-bathroom property in Rockingham and discussing the limitations of smaller properties for HMO conversion Throughout the episode, Gibb shares his insights and experiences, providing valuable information for both seasoned investors and those new to the world of HMO property investing. For more information, visit For those that prefer to watch you can also catch us on YouTube. Want help with your investment strategy? Reach out to us for a free, no-obligation initial chat with our team and see how we can help you with your investment journey. Book Now Join the Perth HMO and NDIS High Cashflow Investment Properties Facebook Group. The HMO Property CoWebsite: www.thehmopropertyco.com Instagram: @the_hmo_property_co FaceBook: The HMO Property Co LinkedIn: The HMO Property Co YouTube: The HMO Property Co TikTok: thehmopropertyco_ Spotify: The HMO Property Show Apple Podcast: The HMO Property Show Living Rooms - https://livingrooms.com.au/ Disclaimer Nothing on this channel should be considered tax, financial, investment or any kind of advice. Everyone should do their own due diligence as only a professional diagnosis of your specific situation can determine which strategies are right for your situation. Our goal is to frequently feature edgy and actionable value, thought leadership and property/investment strategies. #newbuild #HMOPropertyShow #PropertyInvestment #HMO #RealEstateTips #BuildToRent #NewBuild #PropertyDevelopment #Investing #RealEstate #LandlordLife #InvestmentProperty #PropertyMarket #ConstructionJourney #FinancialFreedom #WealthBuilding #RentalIncome #NeilGibb #PropertyDevelopment #Investing #FinancialFreedom #renovation #coliving #perthpropertyinvesting