Property Details

• Purchase: £35,000

• Refurb: £14,000

• Refinance value: £75,000

• Total Cash in: £24,000

• Cash-out after refinance £31,500 (Deposit built by £7,500!)

We purchased this property at auction in bad condition with the central heating causing water damage to the downstairs. After a £14,000 spend and many hours work, it was refinanced at £75,000 making a full cash-out project. With a deposit build of £7,000, this property will stay in our current portfolio and let out at £450pcm, making a yield of 11%.