There is varying demand for HMOs across the city. There is also a lot of change in where the demand is as student blocks are being developed across the city and certain areas of Liverpool which were traditional for student houses are now going empty. Demand differs for student, professionals and housing benefit tenants.

It’s not so much about where you buy, it’s about what is your product. Your product is the size of the rooms, the quality of the furniture, quality of refurb, quality of amenities, number of bathrooms, number of toilets, number of kitchens, amount of communal space, car parking, bike storage, ensuite rooms, transport links, quality of the local area and the overall price you demand for the rooms.

To really understand how to do an HMO in Liverpool you need to know the fundamentals – what I can buy the property for, how many rooms does it have, how much is my refurb and what will it value at post refurb. You can then project your returns based on money spent, money left in the deal and money, and also factor in void periods which are significantly higher in some areas of Liverpool than others.