Our Projects
Take a look at some of the projects we have worked on
This property was an all money out deal. Between exchange and completion we title split the property on paper as the works were already done. This meant the property value increased by £80,000, meaning only a small amount of money was needed to purchase the property. Once purchased we internally refurbed the 3 flats to maximise their value. Although these 3 flats don’t cashflow much, the property ended up paying us to purchase it, plus we will gain capital appreciation.
- Purchase price £215,000 (14% BMV)
- Refurbishment £65,306
- Bridge fees £26,300
- Stamp duty £8,250
- Solicitor fees £2,500
- GDV £480,000
- Money paid to us after re-mortgage £42,644
- Cashflow £300 / month
- ROI % Infinite
Our toughest property to date. The condition of the property wasn’t a problem, nowhere to park or store materials was. We got around this by renting part of the land from the neighbour we built a relationship with. This was a derelict property (cornered off by the council as it was a danger to the public) on a main road, no parking with a stream running along the back. Everything had to be done to this property, cellar dug out, underpinning, planning to Sui Generis, new roof, joists, windows, floors, insulate the whole property, new plumbing, electrics. We turned this into an extremely high class 8 bed, all en-suite co-living HMO, with cinema room and office. We purchased this at auction and used development finance to fund the refurbishment.
- Purchase price £100,000
- Stamp duty £0 (not habitable)
- Solicitors fees £2,500
- Refurbishment £320,000
- Fitout £20,000
- Bridge fees £35,000
- GDV £750,000 (commercial valuation)
- Profit per year £27,000
- Money out of deal £81,000
- ROI % Infinite
We used a couple of strategies on this project with our joint venture partners. Before purchasing we title split the property to increase the value for the bridge, meaning less money needed to purchase. We applied for planning (as it was in a conservation area we couldn’t use permitted development rights) to turn this from a care home (Class C2) to 3 residential properties (Class C3). We then did a soft refurbishment on all 3 properties maximising the value. We have rented this out to the council on a 5 year agreement, with them looking after the void periods and maintenance.
- Purchase price £358,000
- Refurbishment £123,000
- Bridge fees £58,830
- Stamp duty £8,151
- Solicitor costs £1,500
- GDV £710,000
- Money left in deal after re-mortgage £25,188
- ROI 136%
- Yearly profit £60,000