What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network
Key financials
Profit pa£5,531
ROCE30%
Yield10%
Purchase £ £4,785
Property description
Strategy: Buy to Let
BMV BTL Tenanted House - Lancashire
Key property details:
- Strategy: Buy to Let, SA, Flip
- Traditional mid terrace 2-bedroom house
- Freehold
- 55sqm
- EPC E
- Council tax band A
- Tenanted
- No chain
This mid-terraced house is currently tenanted and is offered for auction with a starting price of £64,500 and with annual rent of £7500 shows a potential yield of nearly 12% gross from day one. However the property would benefit from some updating as the EPC is on the lower limit for renting. A small investment into the property of circa £8000 would bring the property to a good modern standard and there would also be an opportunity to improve the EPC score. The GDV could potentially rise to £85,000 along with a potential rental uplift too.
The financials:
▪ Purchase price: £64,500
▪ Refurb costs: £8,800
▪ GDV: £85,000
▪ Annual profit: £5,531
▪ ROCE: 30%
▪ Yield: 10%
▪ Stamp duty: £3,225
▪ Sourcing fee: £4,000+vat
▪ Legal fees estimate: £1,000
▪ Survey estimate: £500
▪ Insurance estimate: £350
▪ Renovations estimate: £8,000
▪ Total: £81,575.00
▪ Max. potential gross rent: £8,400
▪ Mortgage Interest @ new Valuation £85000: 75%@4.5% - £2,869
▪ Money left in after refinance: £17,825.00
Representing an all money out deal just after 3 years!
Sourced offer a comprehensive property wealth building package in one place;
Sourced Investment Agents - Sourcing investment opportunities for you,
Sourced Enterprise - Limited company and SPV formations with tax efficient portfolio structuring and accounting solution.
Sourced Finance - Access specialist property lending and mortgages, created for investors.
Sourced Lettings - Seamlessly integrate property management using our nationwide lettings management service.
If you are interested in this or similar opportunities that you would like us to find for you please get in touch.
Sourced reference: 722931362573453
Due diligence
No information supplied.
Location
Disclaimer
Sourced endeavour to make our particulars accurate and reliable, however, they do not constitute or form part of an offer or any contract and are not to be relied as statements of representation or fact. The selling agent may or may not be the sole agent and will provide confirmation upon request. Any services, systems and appliances listed in this specification have not been tested by us and no guarantee as to their operating ability or efficiency given. All measurements have been taken as a guide and are not precise, please be aware some of the details may be waiting vendor approval. If you require confirmation or further information, please contact the selling agent. Fixtures and fittings are to be confirmed with the seller and not relied upon when listed. Sourced are not responsible for any loss of monies due to the purchase or purchase process with any property listed.
Key financials
Profit pa£5,531
ROCE30%
Yield10%
Purchase £ £4,785
Sales Agent
Ben Barton
Kimber Le Prevost Limited
Smart support to move your deal forward
Review the numbers
We've pre-crunched the figures for you.
What is a Sourced Approved Investment?
These properties have been carefully sourced and packaged by experienced property investment specialists and trusted Sourced Partners.
- Pre-vetted for investment potential
- Due diligence carried out
- Tailored for investor goals
- Backed by Sourced's expertise and network