BRRR Project - Hartlepool

2-Bed Mid Terrace BRRR Project in Hartlepool

Investment Area: Teeside
Strategy: BMV, Buy to Let

Traditional mid terrace house.

Key property details:
- Freehold
- 57 sqm
- EPC B
- Council tax band A
- Vacant possession
- No chain

This mid terraced house has historically been let out for £400pcm but after refurbishment, the rental can be increased to £500pcm, considering there is some work to do before it is tenant ready, still representing good value for the tenant in this energy efficient home. The current asking price is lower than similar properties have sold for in the area, giving scope to refinance to increase ROCE. Please remember, we will start the negotiation on your behalf if you wish to purchase, subject to our contract, proof of funds and an AML check being in place.

The financials:
▪ Purchase price: £48,000
▪ GDV: £75,000
▪ Refurb costs: £12,000
▪ Annual profit: £3,187
▪ ROCE: 23%
▪ Yield: 8%

▪ Gross rent: £6,000pca
▪ Purchase costs: £9,050
▪ Total: £70,250

Representing an all money out deal in just over 4 years!
Sourced offer a comprehensive property wealth building package in one place;
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If you are interested in this or similar opportunities that you would like us to find for you please get in touch.