Student Project
Buy Refurbish Refinance Strategy
I mentored Chandresh on this property project whereby he purchased a one-bedroom flat in Oval, London. We converted the property it into a two-bedroom flat, refinanced it, and successfully rented it out. The project made a profit of £62,940.
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About the Investor
Chandresh Patel
Occupation:
IT Consultant
Past Property Experience:
Owned 2 Buy-to-Let Properties. No Refurb or Development Experience.
Location:
Loughborough
Floor Plans
We moved the kitchen into the living room to create an open plan living room and we converted the original kitchen into the second bedroom, creating a two-bedroom flat.
Before
After
Before Pictures
After Pictures
Financials
Purchase Price:
£
318000
Auction Fees:
£
Sold Price:
£
Refurb:
£
69000
STDL:
£
12940
Legals
£
5320
Finance:
£
26000
New Valuation:
£
500000
Profit:
£
62940
Rent:
£
Mortgage:
£
Monthly Cashflow:
£
