WELCOME FROM
WELCOME FROM
As discussed, this is a large terraced house with old planning to turn it into a 5 bed HMO.
There are many options as to what to do with this property, it would become 4 flats easily or, with an extension can become a 7 bed professional HMO.
This is a set return or JV opportunity that includes 3 stakeholders, myself, a development expert and you.
The basic figures are that we will spend a total of £200,000 on this property to create 4 flats worth at least £75k each and a profit of over £100,000.
This is dependent on the option chosen, we can also do a 7 bed HMO with a commercial valuation to get all of the money out plus a large monthly profit.
Our refurbs are organised as follows:
20% Up Front
Extra payments as and when each stage is completed.
This will take up to 12 weeks in planning then another 4 - 6 months to complete.
This is a house split into 2 separate flats that is in a great area for student rentals, it is near the new uni campus where there is a slight shortage of HMO's.
https://www.zoopla.co.uk/property/37-gelli-street/port-tennant/swansea/sa1-8nj/20541796
This one on the same street sold in reasonable condition for £105k, multiply the £'s / square foot out and you will get to £138,500k valuation.
309 Dan Y Graig Road was 66sqm and we achieved a £100k valuation on it, it was rented not sold but the valuation was achieved via a RICS survey for the lender. This gives us a £150k valuation when extrapolated out.
https://www.zoopla.co.uk/property/49-wern-fawr-road/port-tennant/swansea/sa1-8ll/20541361 This one at the bottom of the street is a little smaller and was in good but not great condition when it sold for £135k, it is a little smaller too. |
https://www.onthemarket.com/details/8135762/
At £300 per room with no need for a HMO licence it could achieve £120pcm - bills.
https://www.onthemarket.com/details/8080281/
This one is a 3 bed acheiving £990 / month.
https://www.onthemarket.com/details/8000835/
This 2 bed flat is achieving £620pcm on its own.
Our refurbs are organised as follows:
20% Up Front
Extra payments as and when each stage is completed.
Photo and video evidence will be provided at each stage and you can also visit whenever you like.
Allow 10 - 12 weeks for the completion of works.