2 Bed Terrace in Central Crewe.
We had two exit options on this property;
1 – Refurbish and add to a portfolio of single let properties for steady cash flow and projected equity growth.
2 – Refurbish and sell onto an investor or private individual.
This property was acquired via auction, we had run the numbers and set a limit on the price we were willing to pay, a must at an auction as bidding can run away with the pressure and competitive nature of the auction room.
The property required substantial work but was in a short walk of shops and amenities, also only a ten minute walk to Crewe’s main train station with direct links to Manchester, Birmingham and London.
We completed an twelve week refurbishment that saw upgrades to the damp course, a new flat roof on the kitchen extension, plastering, new bathroom and kitchen, plus the building of a wall in the rear bedroom to create a corridor for access to the bathroom which was originally only accessible by walking through the rear bedroom, then complete flooring and decoration throughout.
Before & After Picture’s Below.
Legals & SDLT: £3,200
New Market Value: £87,500
Refinance @ 75% LTV: £65,000
Cash Left In at Refinance: £1,000
Rental: £6,000 = 9.1% gross yield
Please contact us today to see how we can make your money work harder for you.