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£4,391
ROCE72%
Yield11%
Purchase £ £3,600
Property description
Strategy: Buy to Let
Key property details:
- Purpose built one bedroom apartment
- Leasehold
- 30sqm
- EPC C
- Council tax band A
- Vacant possession
- No chain
- Ground Rent £85.00 pa
- Service Charge £TBC
Once renovated to a high standard the flat should achieve a sale valuation of £75,000. as flats in the same block have sold for £72,500 within the last 6 months and were not in the freshly renovated condition this one will be in. We have used a conservative GDV of £70,000.
▪ Purchase price: £39,999
▪ GDV: £70,000
▪ Refurb costs: £11,000
▪ Annual profit: £4,391
▪ ROCE: 72%
▪ Yield: 11%
▪ Deposit: Due to low value it would need to be a 100% cash purchase
▪ Stamp duty: £0 if below £40k
▪ Sourcing fee: £4000 + VAT
▪ Legal fees estimate: £1,000
▪ Survey estimate: £500
▪ Insurance estimate:£300
▪ Auction fees:£1,800 + VAT
▪ Renovations: £5,000
▪ Total: £58,599
BTL:
▪ Gross rent: £7,800
▪ Ground rent: £85.00
▪ Gross profit pa: £4,391
Flip:
▪ Profit on sale: £11,401
▪ ROCE: 19%
▪ Profit: 16%
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 contact
Sourced reference: 962921116826462
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£4,391
ROCE72%
Yield11%
Purchase £ £3,600
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