BTL in Skegness, Hands-Off

The proposed strategy is to acquire the property and let it to tenants for consistent rental income and longer-term capital growth. The figures should be reviewed alongside local demand, expected running costs and finance terms.
This deal can generate high cashflow.
The agent has highlighted that this property is projected to achieve a high occupancy rate due to high demand in the local area.
This deal is suitable for hands off investors, suitable for investors with limited time or for overseas investors.

5 self-contained flats
3 x 1-bed, 1 x 2-bed, 1 x studio
Freehold block

Financial Information
Current value: £225,000
Purchase price: £225,000
Purchase costs: £18,600
Refurb/works cost: £0
Sourcing fee: £5,000
GDV: £225,000
Monthly profit (£): £1,726
Annual profit: £20,718
Monthly rent: £2,500
Annual rent: £30,000
ROCE (%): 27%
Yield: 13%
Money left after refinance: £76,110
Investment required: £76,110