2 Flats
The Project
An end of terrace property in a town centre location with 2 flats that was offered to us in an off market deal that needed a serious makeover both inside and out. We almost doubled the value of the property, allowing us to refinance the property with no money left in the deal. The result – we gained 2 flats for nothing with rental income paying us for life.
Before
Total Acquisition Cost – £136,821
Refurbishment Cost – £40,000
Total Initial Investment – £176,821
After
End Value – £240,000
Money pulled out after refinance – £180,000
Total Money Investment – £0
The Results
Annual Gross Rent – £18,000
Rental Net Profit – £7,529
Annual ROI – Infinite