Refurbishment of a 2 bed flat
for Buy to Let
Project: Arran
Numbers:
Purchase
​
Refurb
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Other costs
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All in
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Revaluation
£52,000​
​
£11,000
​
£2,000
​
£65,000
​
£75,000
Monthly rental ​
​
Expenses incl mortgage
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Monthly cashflow
​
Gross yield
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Return on cash left in
£550
​
£280
​
£270
​
8.8%
​
37.0%
This property had been bought from a probate as the previous owner passed away. It had been on the market for quite a while and has been overlooked by other buyers. The décor has been dated but the property didn't need any major works to it.
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The flat is located in a block of flats, meaning all communal works are taken care by a management company and we don't have to worry about maintenance of the building.
As the flat is conveniently located close to a train station and comes with a parking space, it had the ideal potential for a car owner who also commutes to work by train.
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The flat has been rented to the first couple who viewed it and they have lived in there ever since.
Works carried out:
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New kitchen
Upgrades to bathroom
New consumer unit
Decoration and floorings
See us in action.​
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