I Purchased a one-bedroom apartment in London Bridge, London in May 2019 for £330,000. The property was then converted to a two-bedroom apartment and valued at £450,000. 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 its 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
£
45904
Value Added (Profit)
10
%
Return on Investment Per Annum (ROI)
£
6252
Annual Net Cashflow
Financials
Acquisition
Purchase
£
330000
Price Stamp Duty
£
16400
Refurbishment
£
26850
Furniture (& Others)
£
7130
Lease Extension
£
Legal Fees
£
3227
Financing
£
20488
Re-finance
GDV
£
450000
Mortgage
£
342562
Cash Left In
£
61532
Market Rent
£
1800
Mortgage Interest
£
1099
Management
£
180
Monthly Cashflow
£
521
