5 Bed All Ensuite Professional HMO Ravensworth Road, Doncaster
Through the power of social media, we met our JV partner who is a US investor with experience building single family homes, renovations of apartment complexes, an investor in land and a formal owner of a licensed bridging company in the US. His due diligence is incredibly thorough and he has a highly diligent set of professionals around him including his solicitor and accountant. We knew if we could do one property successfully with him and get through his robust set of professionals then it can only get easier. We had our challenges acquiring this property as it was a repossession, we gave them one offer of £76,600 and stuck to it. They had received offers from various parties higher than this throughout the conveyance process but we stuck to our guns and it paid off. Our total cost including purchase was £126,000 and we have sold this property for £159,000 to an investor that has got a great return of £24,960 annually, that's a 15.6% gross yield on a newly refurbished fully tenanted Professional HMO. This is one of many we will be doing with Andy and the team at BH Investments.