Our Properties
King Street, Wallasey
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King Street was an empty shop with accommodation above that we purchased in October 2019. We have spent a year converting the shop into a one bed flat and a studio flat and the upstairs into a 6 bed HMO. This is our first HMO project and we have learned a lot during the process however even with some issues we have managed to get almost all of the money out covering all costs. This means we will be earning over £17,000 on this property in the first year with none of our money left in.
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Purchase Price: £55,000
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Costs
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Refurbishment Spend: £135,000
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Project Management: £14,000
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Finance and Legals £8,000
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Other Fees £25,000
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Total Spend £237,000




Before
Ready for letting
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Returns
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Value Post Refurbishment: £310,000
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Capital Left in: £4,500
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Monthly Rent £3,800
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Net Income £1,850
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ROCE 493% PA
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