I hope you like this one.
This old hall is built on a residential plot in an area near Swansea on the M4 that gets high values.
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.
This will take 4 - 6 months to complete including planning.
This is the old building split into 3 houses that we spoke of earlier. The numbers in my calculations sheets are based on keeping them all or selling them all whereas the plan would be to sell 1 and keep the other two which would be basically free of charge.
Having looked again at the sizes and local comparables I think we will get £115k - £120k for the one we sell which would in the worst case turn the £250k spend for the 3 houses into £135k for 2 houses (£250k - £115k).
With those two houses both worth the same as the one that sold we would get a return of £172,500k with finance at 75% so that's around £30k net profit after legals and taxes etc plus 2 houses that are currently renting for £575 per month each.
A nice cash machine.
Rental comparables aren't required as the properties are already rented out.
This one will take 2 - 4 months to split, sell and refinance, no refurbishment required.