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
GDV£500,000
Profit£123,000
ROCE288%
Purchase £ £15,000
Property description
Strategy: Unreg Property Loans
Project Overview
The project involves the renovation of a 3-bedroom link-detached property in Chelmsford. The property is currently in need of structural remedial works. A local structural contractor, who has previously completed work on the same estate, has been engaged for the project.
Project Financials
▪ Purchase price: £250,000
▪ Development costs: £110,000
▪ Upfront costs: £17,000
▪ GDV: £500,000
Experience/ Project Management
James Kelly has a background in financial advice and will lead the project financials. His son, Matthew, will project manage the development. With 8-9 years’ experience in construction, including roles as a project manager and planner, Matthew has delivered projects ranging from £10,000s to circa £60 million. His experience spans civils, mechanical and electrical, and large external façade and fit-out schemes, alongside managing commercial aspects and building extensive industry contacts.
Investment Summary:
▪ Looking to raise: £140,000
▪ Loan term: 15 months
▪ Interest repayment: 20%PCA (to be repaid collectively upon completion of works and sale of the property.)
▪ Security:2nd charge on development
▪ Exit and repayment plan: Advertise on open market with local estate agent. As well as advertising wihtin the Sourced network.
If you are interested, please do not hesitate to reach out.
Sourced reference: 984899133869774
Due diligence
No information supplied.
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
GDV£500,000
Profit£123,000
ROCE288%
Purchase £ £15,000
Sales Agent
James Kelly
Sourced
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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