*High Spec 3 bed, 2-bathroom HMO with Net returns from 29.58%*

70.000 £

Description

INVESTMENT OPPORTUNITY, Gresham Road – Middlesbrough, 3 bed, 2-bathroom HMO, with Net returns from 29.58%, , Gresham Road - Financial Breakdown – 3 Bedroom – 2 Bathrooms, Purchase Price: £70,000.00, Deposit: £20,492.50 - Finance (75% LTV STL with interest paid for 1st 6 months), Conversion/Build: £37,000.00* approx. (subject to further onsite visits), Set up costs/ Design & Build Fees - £14,750.00, Legal Estimate - £1,400.00, Stamp duty - £2,100.00, Survey - £650.00, Furniture and flooring packs can be purchased at an additional cost - £7,800.00., , Total Project Cost: £133,700.00, Total Cash outlay: £84,192.50, , Projected Rental Income: £110.00PPPW x 3 ( ensuite) net of bills (water, gas, electricity) = £17,160.00 (This is projected rent that allows for increased energy costs), Management: £2,527.20 including VAT- (10% fully managed), NET RETURN ON INVESTMENT AFTER REFINANCE: 29.58%, , BASED ON A REFINANCE VALUATION OF £135,000 WE CAN RELEASE APPROXIMATELY £108,000 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £28,692.50 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £8,487.60 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 29.58%!, CHOOSE MIDDLESBROUGH:  GREAT VALUE FOR MONEY: EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS, , •