.SOUTH WIMBLEDON PROJECT .
2 storey 3 bedroom and 1 bathroom terraced house, with garden and garage at the back, a probate purchase, in a very poor condition.
- On the market for £575K
- Purchased for £535K
- Lowest price similar house in the 1 mile radius is £625K
- Extend at the back and convert the loft
- Create 5 x en-suite bedrooms, 3 with small kitchenette, apply for HMO license, rent and remortgage
- Raise additional funds from refinance and put towards the purchase of another similar property
- Development work required for HMO conversion: £150K
- Anticipated rental value: £5000 pcm
- Anticipated GDV: £900K
- Investment opportunity: Min £10K investment for min 9 months at 10% return per annum
- Interest paid monthly by standing order. Capital paid after 9 months, or re-invested if preferred
- Security: Legally signed loan agreement, and RX1 form signed and kept with solicitor. This allows the investor to register a restriction, which is an entry on the legal title, preventing sale of the property without the investor's consent