I Purchased a one-bedroom apartment in Brixton, London in September 2019 for £240,000. The property was then converted to a two-bedroom apartment and valued at £320,000. At that stage, the flat was refinanced and rented out to generate monthly cashflow & also benefit from any future capital appreciation.
The Work
The apartment was fully renovated from it’s previous condition and re-configured by relocating the kitchen into the living room to create an open-plan living room, and then the original kitchen was converted into the second bedroom.
Before
After
No items found.
The Results
£
26185
Value Added (Profit)
22
%
Return on Investment Per Annum (ROI)
£
8124
Annual Net Cashflow
Financials
Acquisition
Purchase
£
240000
Price Stamp Duty
£
9500
Refurbishment
£
26230
Furniture (& Others)
£
3020
Lease Extension
£
Legal Fees
£
4520
Financing
£
10543
Re-finance
GDV
£
320000
Mortgage
£
257079
Cash Left In
£
36735
Market Rent
£
1700
Mortgage Interest
£
853
Management
£
170
Monthly Cashflow
£
677
