This was a ‘turnkey’ purchase. It’s a seven bedroom HMO let to working professionals. We bought it with the existing tenants in situ as a cashflowing asset at a time when we were both moving away from employment. There are pros and cons with taking on properties with sitting tenants. We didn’t have any problems with the tenants, but this property could now do with a refurb which is more challenging when there are tenants in situ! We are redecorating each room one by one as and when we have a change in tenants.
