2-Bed BTL BRRR in County Durham

Sourced Partner of 3 years Keith Smith is looking to complete a BRRR project as part of a JV with a portfolio landlord with his own build team and hundreds of renovation projects successfully completed and a retired solicitor, who is also a Sourced Partner.
The aim of the JV through their company is to build assets for the long term and create cashflow.
This project is a simple BRRR with a minimal renovation and a quick turnaround.
The expected term for this project is 12 months max, but we are looking to complete within four months and move to the next project.

Keith is a part of an experienced team, who as mentioned will use an in house build team and one of the partners acting as the PM
(The PM has vast property renovation experience, the team will leverage the legal knowledge of one partner and the property knowledge, logistical and negotiation skills of Keith himself)

Once completed there will be an opportunity for the investor to reinvest or cash out.

Investment Financials:
▪ Required Investment: £30,000
▪ Return: 14%
▪ Security: Personal guarantee and Loan agreement

For further information, please get in touch.

BRRR Financials:
▪ Purchase price: £50,000
▪ Purchase costs: £18,900
▪ Refurbishment costs: £6550
▪ GDV: £85,000
▪ Money Left in: £9,350

As mentioned, upon refinance we will either pay a pro rata interest at 14% or we can offer a 12month fixed return of 14% of the loan value.

Sourced reference: 199918478319741