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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
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Cheshire
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