Description : 17 Aug, 2023
INVESTMENT OPPORTUNITY
INVESTMENT OPPORTUNITY
Kings Road – Middlesbrough
6 bed, 6-bathroom HMO
with Net returns from 19.54%
Newlands Road - Financial Breakdown – 6 Bedroom – 6 Bathrooms
Purchase Price: £115,500.00
Deposit: £33,812.58 - Finance (75% LTV STL with interest paid for 1st 6 months)
Conversion/Build: £77,802.00* approx. (subject to further onsite visits)
Set up costs/ Design & Build Fees - £14,750.00 (This allows for you repat customer discount)
Legals Estimate - £1,400.00
Stamp duty - £3,300.00
Survey - £650.00
Furniture and flooring packs can be purchased at an additional cost - £10,294.01
Total Project Cost: £223,696.01
Total Cash outlay: £142,008.59
Projected Rental e: £110.00PPPW x 6 net of bills (water, gas, electricity) = £34,320.00 (This is projected rent that allows for a increased energy and increased mortgage interest rates)
Management: £5,054.40 including VAT- (10% fully managed)
Balance of Annual mortgage cost as 1st 6 months paid: £1,515.94 approx.
TRUE NET INCOME: £27,749.66 per annum
NET RETURN ON INVESTMENT: 19.54% per annum
NET RETURN ON INVESTMENT AFTER REFINANCE: 32.87%
BASED ON A REFINANCE VALUATION OF £215,000 WE CAN RELEASE APPROXIMATELY £172,000 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £56,633.59 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £18,618.80 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 32.87%!
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80k miles 2 owner full service history px welcome Call for more information Any inspection welcome
Immaculate condition only used it 2/3 times reason for sale I don't use it. Cash only £190 Collection ONLY
Triumph Tiger 1050 Sport 2013 covered 27,098 miles, all round good clean condition included with both keys, owners manual, V5 with one former keeper,
** Secure now with a £250 deposit ** Eye catching car - Great condition throughout - Stunning bination - Runs and drives fantastic - Good up to date s