I Purchased a three-bedroom terraced house in Stevenage, Hertfordshire in October 2020 for £265,000. The property was then converted to two individual flats, valued at £410,000. At that stage, both the flats were refinanced and rented out to generate monthly cashflow & also benefit from any future capital appreciation.
The Work
The house was split into two individual apartments by creating one apartment on the ground floor and the other on the first floor. No extensions were required as the property already had sufficient floor space to meet the minimum space standards.
Before
After
No items found.
The Results
£
59573
Value Added (Profit)
28
%
Return on Investment Per Annum (ROI)
£
11856
Annual Net Cashflow
Financials
Acquisition
Purchase
£
265000
Price Stamp Duty
£
7950
Refurbishment
£
69814
Furniture (& Others)
£
Lease Extension
£
Legal Fees
£
6895
Financing
£
Re-finance
GDV
£
410000
Mortgage
£
307500
Cash Left In
£
42927
Market Rent
£
1950
Mortgage Interest
£
767
Management
£
195
Monthly Cashflow
£
988
