| Purchase price | £24,000 |
| Refurbishment cost | £17,000 |
| Solicitor's fees | £900 |
| TOTAL | £41,900 |
|---|
Cashflow
| Property valuation | £60,000 |
| Mortgage loan @75% LTV | £48,500 |
| Mortgage payment (interest only/PCM) | £125 |
| Rent (PCM) | £450 |
| Lettings management - 12% (PCM) | £45 |
| Operating expenses | £20 |
| CASHFLOW (PCM) | £ 269 |
|---|
ROI & Yield
| Money left in | £0 left in! £6,600 profit made on refinance |
| Cashflow (PA) | £3,228 |
| Return on investment (PA) | infinite |
| Gross Yield | 8.5% |
|---|
7a Morris Court, Preston
This 2 bedroom flat renovation was a great ‘money in, money out’ deal, meaning after the end valuation we got all of our costs back and also made £6,600 profit. We kept this flat for 2 years with a great tenant earning £3228 profit per year, then sold it for £68,500. After costs we made around £17,000 profit.
