Doubling Your Profits From Supported Living With Chris McDermott from NW Living
Supported living isn't necessarily the first thing that comes to mind when we think of HMO investment but what if I told you that you could potentially double your profits from the same properties by following this model?In this episode, I'm excited to be joined by Chris McDermott, one-half of NW Living together with his partner Cat. NW Living specialises in converting neglected properties into high-end accommodations for Supported Living providers. Over the last 5 years, they have successfully built a lifestyle business that allows them to prioritise family time alongside their passion for property development.During our conversation, Chris and I discussed:The story behind their passion for HMOsHow they transitioned from professional lets to supported living HMOsThe challenges and learnings in doing supported living HMOsThe Importance of making the right connections with charities and asking the right questions when getting financeCompliance constraints you need to be aware of when working with charities-Please leave us a quick review on Apple Podcasts or Spotify if you find this episode useful.Got any questions? Ask us in The HMO Community Facebook Group or follow me on Instagram @andygraham.hmo for daily HMO tips and advice! If you want to join my 1-2-1 mentoring program, you can enquire here. New to HMOs? Join The HMO Roadmap - an exclusive community and online learning platform for HMO property investors. As a member, you’ll get access to online training, group coaching, a deal stacker tool, case studies, contract templates and more resources to help you start, scale, and systemise your HMO business.