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Title Split
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 purchased it, plus we will gain
capital appreciation.
The Numbers
- Purchase price £215,000 (14% BMV)
- Refurbishment £65,306
- Bridge fees £26,300
- GDV £480,000
- Money paid to us after re-mortgage £42,644
- Cashflow £300 / month
- ROI % infinite