Charlton Road
About This Project
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One of our first properties and one of the most profitable deals. A mid terrace victorian providing infinite returns on investment.
We paid off the vendors arrears and structured a deal which would benefit both parties. The vendor who was about to be repossessed and walk away with nothing was delighted to joint venture with us and make £45K in the process to see him into his retirement.
This huge property was acquired via an estate agent on a 5 1/2 year lease option and currently profits £1 265 / month running as a 6 bed HMO.
Over a 5 year period this lease option and assuming we keep it fully let (which we have to-date) will generate a £83 490 rental profit on a property we don’t yet own. We expect the property to be worth £250K at the end of this period and the option is for £200K so there is a further £50K earnings potential. That is a whooping £133, 490 gross profit all whilst creating a win / win opportunity.
The vendor who was being repossessed and would of walked away with no money will now make £15K out of this property at completion and has already been paid £30K from completion of Edmund close as the two properties were from the same vendor) – Good karma !
Contract Fee
£1
Purchase Price
£205,000
Renovation Costs
£20,000
RICS Valuation After Works
£280,000
Current Monthly Rental
£1,700