Case Study 5

This was the cheapest property we have purchased to date at £39,500 we stopped just before the £40,000 stamp duty mark when purchasing at auction. On viewing the property post completion it had a water leak from the roof all the way down to the basement where the joists and floorboards were all damaged. Our professional building team made it watertight and stripped it back as we did a complete back to brick renovation replacing everything in the property at a price of £32,000 to bring it up to a high specification. Our costs including purchase came to £82,000 and we financed at 75% of £100,000 leaving only £6,000 in the deal with a net return after refinance of £8,800 giving us a return on investment of 146%