How One HMO Can Make You £100,000 Profit Annually – Mega Deals

Richie Miller’s journey from Army officer to full-time property investor is a powerful example of scaling up strategically. Starting with a three-bed house, he quickly realised the potential of property investing and made the decision to go bigger. Today, he owns a 48-bed HMO in Sheffield, generating over £100,000 annual profit with no money left in.

From Small Deals to Mega Investments

Richie’s first step into property came after reading Property Magic and joining a mentorship programme. Initially, he experimented with rent-to-rent serviced accommodation, but quickly realised that HMOs offered a more predictable cash flow. Determined to replace his Army salary, he focused on larger, high-yield properties.

The 48-Bed HMO Deal

Richie came across a 48-bed HMO in Sheffield that had been sitting on the market for 18 months. Originally listed at £1.8 million, he negotiated a £300,000 discount, securing it for £1.5 million. However, a major setback occurred when his main investor pulled out, forcing him to find alternative funding.

Instead of walking away, Richie used his network to raise capital through joint venture partnerships and private investors. This allowed him to move forward with the purchase and begin renovating the property to increase rental income.

Overcoming Challenges with Smart Solutions

One of the biggest hurdles was financing the deal. Lenders required a track record of larger projects, which Richie didn’t have at the time. To overcome this, he partnered with a letting agent who had experience managing the property, allowing him to secure the mortgage.

Following renovations, the property was revalued at £3 million, allowing him to refinance, repay investors, and leave no money in the deal—all while generating a six-figure annual profit.

Join the UK’s Leading Property Investment Community

Want to stay ahead in the world of property investing? Get expert insights, tips, and updates delivered straight to your inbox. Be part of a thriving network of investors and take action towards your goals today!




How to Buy Property With Little or No Money
How to Buy Property With Little or No Money

If others are doing it, you can too. Creative finance is about acquiring property using as little of your own money as possible—sometimes none at all. This lets you scale quickly, do more deals, and achieve powerful returns, even infinite ones. The key is knowing how...

Why Most Investors Are Buying in the Wrong Place in 2025
Why Most Investors Are Buying in the Wrong Place in 2025

In this post, I’m going to walk you through where you should consider buying investment property in 2025. Along the way, I’ll also address some common questions—like why property prices seem so high in the UK, and what’s likely to happen to the market in the months...

Are the Interest Rates in the UK Falling Too Fast?
Are the Interest Rates in the UK Falling Too Fast?

The Bank of England has recently reduced its base rate to 4.25%, prompting many investors to wonder whether interest rates are falling too quickly. While some experts suggest inflation is under control and further rate cuts are needed, others—including myself—are more...

Expensive Mistakes Property Investors Must Stop Making
Expensive Mistakes Property Investors Must Stop Making

If you’ve ever felt stuck in your property journey — either unsure how to start or overconfident that you’ve got it all figured out — you’re not alone. Over the years, I’ve seen two key mistakes that can cost investors dearly. Ironically, they sit at opposite ends of...