2 Bed Flat, Southsea, Portsmouth
Full refurbishment and resolution of a lease issue saw this property return 29% net ROI
Purchase Price
£121,000
Refurb & Costs
£21,232
Revaluation
£180,000
Bought at auction
30% below market value
2 month turnaround
On first appearance the flat needed some TLC but also came with a very short lease of 62 years and we were told that there was an issue in getting it extended.
The property went to auction in February 2020 and when the hammer fell we secured it for £121,000 , some 30% below market value.
In less than 2 months the flat was fully refurbished, the lease extended, it was then later revalued at £180k by the new mortgage surveyor. This has left less than 22% of our original investment in the property, allowing us to pay back investors and take the additional funds onto our next project.
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Let’s start making your money work for you
We’re keen to meet you with you, discuss your goals from investment and structure a deal to suit you. We offer clients fixed returns between 6% – 12% or bespoke deals joining in our success.