The HMO Podcast

Can you still get all of your money back out of an HMO deal in 2026?

It’s one of the questions I get asked most often, and it came up again recently in the HMO Community. An investor with around £80,000 in cash wants to build a high-spec HMO and refinance every penny back out. Is that realistic, or is it too much to ask of one project?

This episode is a community Q&A. I’ve picked five real questions that members recently posted in our free Facebook group. I answer the question about recycling your cash, and then four more about problems almost every HMO landlord runs into eventually: rooms that won’t let, tenants who won’t clean up, tenants smoking indoors, and whether rent guarantee insurance is worth it now that the Renters’ Rights Act is here.

🎯 What You’ll Learn

• Can I refinance all my money back out of a high-spec HMO?
• I’ve only let one of six rooms. Have I priced it too high?
• How do I get tenants to keep communal spaces clean?
• A tenant keeps smoking in my student house. How far can I go?
• Is rent guarantee insurance worth it?

Even if you’re not dealing with any of these right now, if you’re building a portfolio for the long term, you’ll probably face most of them at some point. This episode will help you be ready.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and leave a quick review on Apple Podcasts or Spotify. It helps more investors find the show!

Leon Hart and his brother Kyle started their property business from their front room with no background, no contacts and almost no money. Today they run an established lettings business, deliver HMO conversions for investors and are building a portfolio of their own, funded by private investors.

In this episode, I catch up with Leon, a former mentee of mine, for an honest conversation about what it really took to get there and what he's learned along the way.

🎯 What You'll Learn

• How Leon and Kyle got started, and why it took longer than they expected
• The first hire that gave them their time back
• What Leon looks for in a deal, and the metric he cares about most
• Where he thinks Article 4 is heading, and how he's planning for it
• The builder mistakes that nearly cost him, and how he avoids them now
• How he found investors willing to fully fund his projects
• What he'd do differently if he were starting again today

If you're starting out, building on a tight budget or trying to raise your first private finance, this is an honest and practical episode you won't want to miss.

Follow Leon on Instagram: Leon Hart Property

💻 Resources & Mentions

• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our free Facebook group here.
• Join my Accelerator Programme: If you'd like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates and lessons to help you start, scale and systemise your HMO business, all in one place. Join here.
• Social: Follow me on Instagram for daily HMO tips, advice and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and leave a quick review on Apple Podcasts or Spotify. It helps more investors find the show!

Can you still pick up a bargain at auction that would make a great HMO?

If you’d asked me a year or two ago, I’d have said yes, but there weren’t many opportunities around. Things have changed. The market has slowed, sellers are more motivated, and there are more opportunities in the auction room than I’ve seen in a long time.

In this episode, I talk you through how to buy at auction without getting burned. I cover why properties end up at auction, how the different types of auction work, the due diligence that really matters, how to fund the purchase and how to set your maximum bid. I also explain why pre-auction and post-auction offers are some of the best ways to pick up a real bargain.

🎯 What You’ll Learn

• Why properties end up at auction
• Traditional auctions vs the Modern Method of Auction
• Why national auction houses can hide better deals
• The due diligence that really matters
• How to fund an auction purchase
• How to set your maximum bid and stick to it
• Using pre-auction and post-auction offers to grab a bargain

Whether you’re thinking about bidding on your first auction property or you’ve already got your eye on a lot, this episode will help you go into the auction room prepared, confident and clear on your numbers.

💻 Resources & Mentions

• Episode 248: How To Fund Residential to HMO Conversions Using Bridge Lending With Ellie Broadhurst. Listen here.
• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

How much of your HMO rent do you actually get to keep?

It’s easy to look at the monthly rent, deduct the mortgage and bills, and assume everything left over is profit. But the reality is there are dozens of other costs that can impact the long-term performance of a HMO.

In this episode, I break down the real costs of running a HMO in 2026, covering around 60 different expenses across 12 categories. From voids, reletting and utilities to compliance, maintenance, refinancing, management and tax, I’ll help you understand what really needs to be factored into your numbers.

With costs rising and new legislation introducing additional expenses, accurately appraising your deals has never been more important.

🎯 What You'll Learn

• The hidden costs that can eat into your HMO profits
• How much to allow for voids, arrears and tenant changeovers
• The ongoing costs of utilities, cleaning, gardening and maintenance
• HMO licensing, safety certificates and other compliance costs
• The true cost of financing and refinancing a HMO
• Management, legal, insurance and professional fees you need to consider
• Why you should appraise your HMO over 5, 10 and 15 years, rather than focusing only on day-one returns

Whether you're appraising your next HMO or reviewing the performance of an existing portfolio, this episode will help you build a much more realistic picture of what your HMO is actually costing you, and what you really get to keep.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

It’s been a busy, challenging and exciting few months across my property businesses.

In this episode, I’m giving you an honest update on exactly what’s been happening behind the scenes. From development projects and difficult tenants to refinancing, new purchases and why I’m shifting my focus back towards high-yielding HMOs.

I also share some of the challenges we’ve faced, including getting a major development back on track after our contractor went into liquidation, dealing with significant tenant arrears and preparing for a difficult refinance.

🎯 What You'll Learn

• Why I’m shifting my focus back towards high-yielding HMOs
• What I’m seeing in the property market right now
• How we recovered after a contractor went into liquidation
• The realities of refinancing in the current lending market
• How I’m dealing with a tenant owing around £15,000 in rent
• How AI is changing the way we operate across my businesses

If you want to know what I’m buying, where I’m focusing my attention and how I’m approaching the rest of 2026 and beyond, this episode will bring you completely up to speed.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

The mortgage market has shifted quickly in recent weeks, with rising swap rates, changing lender pricing and wider economic uncertainty creating another challenging environment for HMO investors.

In this episode, I sit down with our specialist mortgage broker Ellie Broadhurst to unpack what's happening in the lending market right now, how the Renters' Rights Act is starting to affect some HMO valuations, and what investors need to consider when buying or refinancing in today's market.

🎯 What You'll Learn

• What's driving the recent rise in HMO mortgage rates
• Why some lenders are increasing rates while others remain competitive
• How the Renters' Rights Act could affect HMO valuations and refinancing
• How to prepare for a refinance and avoid unnecessary delays
• What the lending and property market could look like heading into 2027

If you're buying a HMO, approaching a refinance or planning your next project, this episode will give you a practical insight into what's happening in the mortgage market, the risks to be aware of and how to position yourself for the opportunities ahead.

Book a Call with Ellie here: https://thehmoroadmap.co.uk/hmo-mortgage-finance/

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

£10,000 per month in net income is a common goal for HMO investors, but very few people actually break down what it will take to get there.

In this #Rewind episode, I break down a simple exercise I use with my mentees to reverse engineer that target, looking at how many properties you might need, the equity you’ll need to create and why adding value is such an important part of building and scaling an HMO portfolio.

🎯 What You'll Learn

• How to reverse engineer your HMO income target
• How many rooms and properties £10,000 per month could require
• Why creating equity is essential when scaling
• The importance of finding opportunities to add value
• How your location and strategy can affect the numbers

If you’ve set yourself a financial target from HMOs, this episode will help you understand what it could actually take to get there and where you need to focus your efforts.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

Is HMO investing still worth it in 2026, and what do you actually need to know before getting started?

In this episode, I’m on the other side of the mic as Ant Lyons from YPN Magazine puts me through my A–Z of HMO investing, covering everything from what makes a good deal and how to fund one, to Article 4, location, management, compliance and the mistakes that can quickly turn a promising project into an expensive one.

I also share how my own approach to investing has changed over the years and what I would do if I were starting again today with £100,000.

🎯 What You'll Learn

• What I look for in a good HMO deal in 2026
• Whether you need lots of money to get started
• How to choose the right location and project
• What Article 4 really means for HMO investors
• The costs and risks new investors often underestimate
• What to look for when outsourcing HMO management
• The planning and licensing traps you need to avoid
• What I would do differently if I were starting again today

Whether you’re considering your first HMO or already building a portfolio, this episode gives you a practical overview of what HMO investing really looks like in 2026.

You can find more of my interviews, articles and expert resources on my YPN Expert Hub here.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

If you enjoyed this episode, hit subscribe and drop a quick review on Apple Podcasts or Spotify - it helps more investors find the show!

Should you manage your own HMOs, or pay somebody else to do it?

It’s one of the most common questions HMO investors ask, and the decision is often based on one thing: how much money you could save by self-managing.

But after nearly 20 years of investing in and managing HMOs, I can tell you there’s far more to consider than the management fee.

In this episode, I break down what managing an HMO actually involves, the pros and cons of doing it yourself versus outsourcing, and the real cost of management when you factor in your time, attention and responsibility.

🎯 What You'll Learn

• The difference between being an investor and a property manager
• What actually goes into managing an HMO day to day
• The time, stress and responsibility involved in self-management
• How management fees compare with the true cost of doing it yourself
• The key questions to ask before deciding which route is right for you

If you’re currently self-managing your HMOs, or wondering whether you should, this episode will help you weigh up the options and make a properly informed decision.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.

Some properties look like great HMO deals on paper, but there are certain problems that no amount of negotiating, refurbishing or clever deal structuring can fix.

In this episode, I break down the types of properties I think HMO investors should avoid, or at the very least approach with a great deal of caution, and explain why some of these seemingly attractive opportunities can become very expensive mistakes.

🎯 What You'll Learn

• The lending risks of non-standard construction and spray foam
• Why shared ownership can be problematic for HMOs
• How covenants and lease clauses can restrict your plans
• Why existing HMO licences can be misleading
• The risks of listed buildings and flood zones

If you’re currently sourcing or appraising your next HMO, this episode will help you spot some of the red flags before they become very expensive problems.

💻 Resources & Mentions

• Join my Accelerator Programme: If you’d like my direct input on your current or next project, you can watch this video or book a complimentary strategy call with me here.
• The HMO Roadmap: Feeling overwhelmed? Access 400+ tools, templates, and lessons to help you start, scale, and systemise your HMO business - all in one place. Join here.
• The HMO Community: Got questions or need support? Come and connect with 10,000+ investors inside our Free Facebook Group here.
• Social: Follow me on Instagram for daily HMO tips, advice, and behind-the-scenes updates here.