15 November, 2018
Blue Skies October Update
We have been very busy throughout October, rejuvinating two very tired family homes in Teesside and producing excellent results for both investors and tenants.
The first property, a 3 bedroom link terrace, was purchased for £65,000 and after an £8,000 refurbishment was let for £595pcm giving a 10% gross yield and an end market value of around £90,000.
The second, a 2 bedroom mid terrace was purchased at £46,000 and after a £10,000 refurbishment let at £550pcm giving a 12% gross yield and an end value of £75,000.
Both of these properties were, to be blunt, pretty grim to start with and within 6 weeks we have managed to create two beautiful family homes with happy tenants. Both of these properties were let before completion, one even before we finished stripping it. It’s fair to say we know our target market well!
Combined, these two properties cashflow an amazing £900 a month and with value added of around £35,000. I think you will agree, pretty impressive numbers and a very productive month.
Who knows, next month Santa might bring me a decent camera so we can truly show off the quality of the finish we are providing to our clients!
If you are interested in finding out about how we can help you achieve similar results please get in touch.
All the best,
Matt Robson
