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Kevin welcomes social housing expert Carole Neales to discuss the intricacies of investing in properties that provide affordable housing. They explore the different types of social housing, typical property formats, support provided to tenants, benefits for investors, challenges to be aware of, and how to ethically enter this impactful sector. Carole stresses the critical need across the UK and shares uplifting stories of the immense good this model offers communities when done properly.
KEY TAKEAWAYS
- Social housing involves partnering with councils, charities and associations to supply accommodation and support programs helping disadvantaged groups transition positively.
- Investors buy and lease properties to providers, earning higher rents without voids or maintenance costs, and supporting social improvement.
- Typical formats are shared houses, HMOs, converted buildings, but ideal options are end terraces or detached to limit neighbor disruption.
- Strict due diligence is essential to avoid unscrupulous providers overpromising unsustainable returns that inevitably collapse.
- Ethical best practices include ensuring full safety compliance regardless of legal minimums, with regular inspections.
- While more complicated to enter, you can get fulfilment from improving many lives and strengthening communities.
- Giving generously comes full circle, opening unexpected doors and attracting conscious investors.
BEST MOMENTS
"If more investors were involved in this as an ethical way of making money, then we would be using less and less temporary accommodation."
"I make sure that all the properties have an HMO license and are fully compliant...to future-proof the fact that I take on a property now."
"By investing in this strategy you will do so much good in the community. You will create such an amazing sense of well-being that you will open doors that you never thought were there."
"Give to receive. Totally. And you're doing so much good for the local community that you're helping the local residents, you're helping the taxpayer."
VALUABLE RESOURCES
MSOPI – Multiple Streams of Income:
https://www.progressiveproperty.co.uk
ABOUT THE HOST
Kevin McDonnell is a Speaker, Author, Mentor & Professional Property Investor. He is an expert when it comes to creative property investment strategies. His book No Money Down: Property Invest talks about how to control and cash flow other people’s property to create financial freedom.
CONTACT METHOD
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Facebook Community: https://www.facebook.com/groups/progressivepropertyco
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