*High Spec 6 Bed 6 Bathroom HMO Opportunity* Returns in excess of 19.77%*

155.000 £

Description

INVESTMENT OPPORTUNITY, Harrison Street – Barrow-in-Furness, 6 bed, 6 -bathroom HMO, with Net returns from 19.77%, Harrison Street - Financial Breakdown – 6 Bedroom – 6 Bathrooms, Purchase Price: £155,000.00, Deposit: £45,376.25 - Finance (75% LTV STL with interest paid for 1st 6 months), Conversion/Build: £66,307.32* approx. (subject to further onsite visits), Set up costs/ Design & Build Fees - £14,750.00, Legals Estimate - £1,400.00, Stamp duty - £4,650.00, Survey - £650.00, Furniture and flooring packs can be purchased at an additional cost - £11,522.01, Total Project Cost: £254,279.33, Total Cash outlay: £144,655.58, Projected Rental Income: £115.00 PPPW net of bills (water, gas, electricity) = £35,880.00 (This allows for increased energy prices and increased mortgage interest rates), Management: £5,241.60 including VAT- (10% fully managed), Balance of Annual mortgage cost as 1st 6 months paid: £2,034.37 approx., TRUE NET INCOME: £28,604.03 per annum, NET RETURN ON INVESTMENT: 19.77% per annum, NET RETURN ON INVESTMENT AFTER REFINANCE 30.96%, , BASED ON A REFINANCE VALUATION OF £250,000.00 WE CAN RELEASE APPROXIMATELY £200,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £60,905.58 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £18,858.40 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 30.96%.