Tenanted Investments

Property Sourcing Service - How It Works

Use our service to find and complete on property at auction. If you have cash and do not require a mortgage complete in 2-4 weeks with the Auctioneer. With over 25 years industry experience we specialise in discount buy to let acquisition and property rentals.

We find properties that suit your criteria, saving you time from looking at inappropriate houses.
No subscription or up-front fees. Pay our fees on exchange of contract.

Recently Sold Property Example - Purchased For £38,000 And Sold For £64,950. Post Refurbishment Photos...

Chesham Crescent, Bury, Lancs BL9 7JX

Purchased at auction for £38,000.
Refurb cost £4,500.
House sold for £64,950 within 18 weeks of purchase.
Net profit after refurb, sales & Legal fees of £21,450
Property rented at £450 pcm and sold with tenant in situ.

2 Bedroom Family Home Stott St Hursted, Lancs.

Buy and hold or buy and flip investment opportunity.

This 2 bedroom home has been purchased for just £60,000 from Andrew Kelly Auctions Tenancy agreed at £5,400 per annum. 9% Rental Yield. Market value after refurb is between £90-95,000 according to Andrew Kelly Estate Agents who are instructed to re-sell the property.

OPTION 1 - CASH PURCHASE

Purchase price £60,000
Legal fees £750
Auction fees £500
Refurb £6,000
Total £67,250
Property Is Worth £90,000-£95,000 As Valued By Andrew Kelly Estate Agents.
Rent £450 pcm or £5,400 per annum
Rental Yield 8% Per Annum

OPTION 2- BOUGHT WITH BRIDGE THEN RE-MORTGAGE AT WEEK 26 IF NOT SOLD BY THEN

Purchase price £60,000 - 21 Day Completion Required. £500 auction fee required.
25% or £15,000 Deposit required and 75% on Bridging Finance 0.75% per month.
Refurb costs. new kitchen , damp proof Course , Full re-plaster , decorate and new carpets.
Approx Day 1 equity in property is £24,000 based on a £90,000 valuation
Approx length of investment before re-mortgage or re-sale is 26 weeks.
Monthly costs to Auction Finance will be £337.50 leaving you cash positive approx £112pcm in months 1-6.
Total initial cash outlay £22,250. Deposit £15,000. Auction Fees £500. Legal Fees To Purchase £750. Building Refurb £6,000

RE-MORTGAGE AT WEEK 26 IF NOT SOLD

Re-Mortgage at 75% LTV at week 26. £90,000 Valuation will give you £67,500
This would give you a return your cash outlay of £22,500 , pay back the £45,000 bridging and leave you with £22,500 equity in the house.
Mortgage payments at 3,89% will cost £218.81 pcm giving you £231.19pcm or £2,774.28 cash positive rental income.
Management of tenancy 10% per month of rent collected by 1st For Homes.

I am interested in Tenanted Investments...

1st For Rental Homes Ltd is a member of the Property Redress Scheme, which is approved by Government under the Alternative Dispute Resolution for Consumer Disputes (Competent Authorities and Information) Regulations 2015