2 Bed semi detached in East Manchester.
Add to a portfolio of single let properties for steady cash flow and projected equity growth.
This property was chosen basically because it was the smelliest house in a good area with a 2 minute walk of a main tram stop into Manchester, it had been on the market for over six months with limited viewings. After two months of negotiation we managed to purchase the property for around 12% below market value.
We completed an eight week refurbishment that saw upgrades to plaster work, electrical wiring, kitchen, bathroom, patio doors, several windows, flooring and decoration throughout.
We had the letting agent view the property around two weeks before completion which led to it being let within 24 hours of completion at the higher end of the rental ceiling in the area.
Before & After Picture’s Below.
New Market Value: £125,000
Refinanced @ 75% LTV: £93,750
Cash Left in Property: £11,250
Rental: £7,500 = 7.1% gross yield
Please contact us today to see how we can make your money work harder for you.