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  • lON COED BRAN

High Street Gorseinon



Hi Dean,


This is the one that I've put aside for you, it's 2 houses in one sale, one is up for £80k and the other for £40k under auction conditions.

£125k should seal them both which is below the reserve price.

Auction conditions are great because they mean that there are no issues with time to buy, completion will be 30 days after exchange which will be immediate.

The properties are not next to the fish and chip shop as indicated below but are close to shops and facilities, the bigger buildings to the left have been extended and turned into flats.

With these we have 3 great options, the first is to renovate and sell for a 25% profit whixh is what I've calculated for, however the better options are to go for planning to turn these into flats or into one large HMO.

Both options would need more investment and take more time but give higher returns, a lot depends on design, extensions, how far we go so it's hard to give an accurate ROI but a HMO would be all money out and more cashflow than the other two properties you own here already and flats would see an incredible percent return if we got to put 4 or more sizeable units in via an extension as they've done up the road.

However, you know me, the base line is the beginning and that is a really nice double flip.

Property number 1 is a mess and needs a full renovation including roof works, property number 2 just needs some cosmetic updates, I only got them at the price because I said about buying both at the same time.

Flip

32% or £36k+

Valuation

£150k - £160k

R.O.CE.

Infinite

Equity

£40k+

Money Left In

£Better than 0

Months To 100% Return

Immediate

Comparables


Pictures to follow


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