My team search quite ferociously for deals that are in a rentable condition and at a bargain price.  Now sometimes we come across properties not in a rentable condition but at a bargain price!  

Take this 4 bed 3 storey property for example:

Now guess how much this property is? 

£100,000? No.

£75,000? No.

£50,000? No.

£40,000? No.

£30,000? Well yes!

What can we secure it for?  Well I reckon £25,000.  You need to budget £7,000 to get it up to scratch (i.e. lick of paint, installation of £299 kitchen and £199 bathroom, £2.99 sqm carpet and £1 per litre magnolia) and then you will have a 4 bed HMO for £32,000.  Want one?

Your monthly rent will be 4 x £60 per week = £1,100 approx and your mortgage on the property will be about £150.  so expect a £950 gross profit.

The property will be worth £99,950 in 12 months so you can remortgage out at 85% and raise £50,000 approx to start investing in more.  You really could be build a £10,000 monthly income very quickly. 

The old investing days are really coming back.  Properties are difficult to shift hence it?s a buyers market.  Refurbishment properties are even more difficult to shift hence it is even more of a buyers market.

We are finding about 5 of these properties a day.  If you want us to pass you some of these really really cheap properties then let us know. 

We can start sourcing you deals like these from today.  If you want to speak to someone about this then email enquiries@ahuja.co.uk, call 0870 990 3205 or fill out our easy to complete refurbishment property request form.

CONTACT US TODAY! 

Ajay

Posted on: 12th Aug 2008