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Updated almost 7 years ago on . Most recent reply

Introduction of myself, and my vision
Hello everyone!
My name is Jonas, I'm 19 years old and coming from Denmark.
Next year when I'm done with college here in Denmark, I am taking the leap to the UK. (... So yeah - not quite USA)
My vision is to buy a 3 bedroom HMO, and then turn it into a 5 bedroom (This is "easy" to do with a lot of properties in the midlands, as they are designed perfectly for this). I want to then live in one of the rooms for a year, and rent out the 4 others. So basically the same strategy with duoplex, triplexes and so on.
I'm looking to invest in the midlands in the UK - and I would be looking at around a £100.000-£110.000 house ($130.000-$145.000). I would expect a rehab, and licensing costs to be around £10-12.000.
HMO's in the midlands are very lucrative right now, and when I move out of the house I expect a 25% ROI.
So when I'm actually living in the house, my strategy is to get at least half a dozen of LOA's under my belt. Which I can expect £250-£300 from montly (Very conservative).
The last year I've been saving a lot, and I've never been working so much in my life :-) Extremely motivated!
So next year I will have at least £35.000, to put down as a deposit - and the old man (my dad) might also want a piece of the cake - as he is very interested in property as well.
I've got my dad to join me on the mortgage - as bail (I'm not quite sure that's the english word for it.)
What do you think about my strategy?
Is it unrealistic, is there something I should be aware of?
Thank you very much! I'm looking forward to my property journey! :-)