This month’s YPN (Your Property Network) magazine contains a full interview feature with Del Brown:
If you’ve not come across it before, YPN is one of the property investment industry’s leading monthly magazines, with a circulation of over 10,000.
In this article Del talks about his approach to property investing, which is very much on a deal by deal basis, although at the moment he has a large number of HMOs.
He reveals all the ins and outs of one of his largest investments – a huge property in Bath, which he bought for £1.7m in 2006. It was originally 2 flats and 28 individual letting rooms, with many existing tenants. Today, it’s a real community, with mostly professional tenants and including a huge age range – from those in their early 20s to 70.
Del is gradually refurbishing the property on a unit by unit basis, as tenants change – although some have been there for nearly 20 years. Keeping existing tenants happy attracts new tenants and reduces voids.
As Del explains, the property generates very healthy rental returns, although he could probably have generated a larger income through a series of properties – but this particular investment is also intended for capital growth – as Bath is one of the most exclusive and expensive ares in the UK. Plus it was one of Del’s personal goals to have a large property in the city.
At the other end of the spectrum, one of Del’s investments earlier this year cost just £150,000., with refurb costs of £20,000, including creating a basement flat and converting the rest into an HMO. It now generates over £2k in monthly rental income, with the mortgage at less than £700.
To read the full article, please do visit the YPN website where you can order a copy – subscriptions are just £6.95 per month, with the first issue free. It’s a great publication for any property investor and all of us at Property Options have no hesitation in recommending it:
Meanwhile, do come along to our next PIM – Property Investment Meeting – on 25 July, in Bristol – and find out more.
Del Brown, Property Investment Expert and author of Making Money From Property – Bristol Fashion