Location: East London // Type: Personal Property (40% Shared Owner)
Strategy: Rent a Room (Lodger) // Property: 2 Bed Flat (+Gym & Concierge)
This is my personally owned property in London, with the spare room rented out this also generates a healthy rental income to cover the high costs of a London flat.
Location: South Yorkshire // Type: Light Refurb & Buy to Let
Property: 3 Bed Semi-Detatched // Purchased Using: BTL Mortgage (Own Capital)
This is a great little project, in the middle of a really hot market. I purchased this property for £106k after a light refurbishment and costs it returned £15,000 profit on day 1 and a 31% return on investment. For this particular project, I purchased using a standard BTL mortgage rather than a bridge with an intention to hold the property for 2 years for capital growth, the downside of this is locking in funds however is planned and intentional due to the property being in a great location near 2 primary schools and a street away from the main secondary school. If I was to bridge this, refurb and sell it then the project would be 20% return on cost and 6% return on GDV which is quite low, so the decision to hold onto it for 2 years drastically changes these figures.
Due to the hot market, after a few months of renting the property, the value and sold comparables are around £165,000. Meaning so far the property if sold would generate more than 71% return on my initial investment (and growing!)
Due to the original financing strategy used for this without a bridging loan, this was put onto a 2-year fixed deal and will be refinanced due to the large uplift in property value. This will leave about £5000 of my original money in the deal and the rest is pulled out.
The great escape from London begins, this is a personal home to replace the flat. More details coming soon!
The next project in the property investment group. This will be a planned student HMO with 4 – 5 bedrooms. The aim is to have a profit cashflow monthly of circa £1000 – £1500. This will be a premium & luxury home for students. More details coming soon!
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