This terraced property was purchased for just £ 65,000 and required a lot of attention and planning. The size of the project did not discourage us from taking it on, therefore, we strongly supported our investor to go ahead with the purchase as we knew there was a lot of profit to be made.
Initially, this property had very old windows, damp, collapsed ceilings internally, no central heating and electrics far from desired working and safety standards. We have stripped this property to the bare bricks internally, changed all the windows including installation of patio door to allow light into the kitchen. We then ensured the property was structurally safe before proceeding with the decor work. The property was boarded and plastered throughout. We have converted the separate toilet and bathroom into one big family bathroom. New central heating and full rewire allowed us to ensure that the property was safe for our future tenants.
The projected cost was £25,00 and the total value of the property increased by £68, 000, giving investor a profit of £43,000. Although these sums are very tempting, the property has been rented to a lovely young couple for £750 pcm. Want to understand more about our calculations and decision making process? Get in touch with our Invest Team and we will give you the best advice!
