Page 14 - Ian Cowie
P. 14
THE NUMBERS
BACK TO BRICK REFURB
A direct to vendor purchase and a back to brick refurbishment. I had to get the
property re-supplied for gas and electricity. The only thing that wasn’t touched
on this property was the roof.
I’m keeping this in my portfolio as a BTL. This is a full money out deal. When I
refinanced, I will get £65,625 back. That’s all my money plus an additional
£2,478.86
There are still great deals out there to be had, but you have to be willing to put
in the work to find them.
PURCHASE PRICE £21,000
LEGAL FEES £1,000
REFURB £46,146
TOTAL MONEY IN DEAL £63,146
NEW VALUE £87,500
RENT £675 PCM
This property, which is located in Blyth Northumberland, was a high-end crack den!!!
