Student Project
Buy Refurbish Refinance Strategy
I mentored Sree on this property project whereby he purchased a one-bedroom flat in Guildford, Surrey. We converted the property it into a two-bedroom flat, refinanced it, and successfully rented it out. The project made a profit of £129,500 and achieves £700 net cashflow per month.
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About the Investor
Sree Varma
Occupation:
Entrepreneur
Past Property Experience:
Owned 2 Buy-to-Let Properties. No Refurb or Development Experience
Location:
Wimbledon
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:
£
135500
Auction Fees:
£
Sold Price:
£
Refurb:
£
28000
STDL:
£
5000
Legals
£
Finance:
£
12000
New Valuation:
£
325000
Profit:
£
129500
Rent:
£
1700
Mortgage:
£
Monthly Cashflow:
£
700
