Student Project
Buy Refurbish Refinance Strategy
I mentored Mark on this property project whereby he purchased a one-bedroom flat in Bermondsey, London. We converted the property it into a two-bedroom flat, refinanced it, and successfully rented it out. The project made a profit of £54,100 and achieves £500 net cashflow per month.
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About the Investor
Mark El-Lamaa
Occupation:
Cyber Security
Past Property Experience:
None
Location:
West London
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:
£
230000
Auction Fees:
£
Sold Price:
£
Refurb:
£
45000
STDL:
£
6900
Legals
£
4000
Finance:
£
10000
New Valuation:
£
350000
Profit:
£
54100
Rent:
£
2100
Mortgage:
£
1100
Monthly Cashflow:
£
500
