Originally a 4 bed ex-holiday home, we sourced this property for our returning investor, designing and creating an 8 bed, all with en-suites making this a perfect professional sharers house with stylish and well considered spaces, the property was tenanted immediately!⠀⠀
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Purchase Price: £637,000⠀⠀
Build Costs: £125,000⠀⠀
Furniture: £8,000⠀⠀
Refinance: £900,000⠀⠀
Rental Income: £59,184⠀⠀
ROI PA: 7.6%⠀⠀
or combined YR 1 26%⠀⠀
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Preparing for the valuation survey itself is paramount, as part of Target Five’s service to our VIP Investors, we put together a comprehensive valuation report for the surveyor on the day, documenting the details around the project, the current rental income, detailed explanation of current comparable properties for both the rental and sales market, the renovation specification, planning documents and certificates/licences acquired. Meeting the surveyor in person is vital, especially if the property is tenanted, you need to be on hand to answer all questions.
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