.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.

Summary:

- On the market for £575K

- Purchased for £535K

- Lowest price similar house in the 1 mile radius is £625K

 

Target:

- 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

Funding:

- 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 

Proposed elevations:

Breakdown:

.BEFORE DEVELOPMENT .