.WANDSWORTH PROJECT .
2 storey 3 bedroom and 1 bathroom terraced house, with garden and driveway, previously used as an unlicensed HMO, in a very poor condition.
- We purchased the property, extended at the back and converted the loft
- We then created 5 x en-suite bedrooms, rented, applied for HMO license, and remortgaged
- We raised additional funds from refinance and put towards the purchase of another similar property
- We now have positive net cashflow, partly used as income and partly financing the new project
- We raised sufficient money from refinance to use as down payment for purchaseing another property
- We have £250,000 worth of equity left in the deal
- ROI which is the return on initial money invested is 24.47%
- After mortgage, utility and management costs, we have £3300 net positive pre-tax income per month
- Considering a moderate 5% average house price increase per year, that increases the ROI substantially
Architect proposed plans:
Click here for the South Wimbledon Project