Purchase price | £44,000 |
Refurbishment cost | £16,000 |
Solicitor's fees | £900 |
Bridging cost | £4,000 |
Stamp duty | £1,320 |
TOTAL | £66,220 |
---|
Property valuation (expected) | £65,000 |
Mortgage loan @75% LTV | £48,500 |
Mortgage payment (interest only/PCM) | £124 |
Rent (PCM) | £1,408 |
Lettings management - 12% (PCM) | £281 |
Operating expenses | £281 |
CASHFLOW (PCM) (no voids) | £722 |
---|
Money left in | £17,720 |
Cashflow (PA) | £8,664 |
Return on investment (PA) | 49% |
Gross Yield | 26% |
---|
3 Renshaw Street
The property qualifies for Burnley Council’s 10-year loan at 0% interest with repayments of £158 per month.ROI is 49% but the actual cash left in the deal was covered by the Burnley 0% interest empty homes loan, which means less cashflow due to the loan repayments, but none of our own funds left in the deal.
STATS
*House in multiple occupation