Developed from our own experience in the property market and commercial finance industry, we have a totally unique package for the purchase of property. This is available to both experienced and first time property investors alike. Based mainly in the north west, we have a portfolio of ready to purchase terraced properties which we are currently offering for sale.
The houses are purchased direct from the vendor by the investor net of any commissions. Prior to exchanging contracts and before any real financial commitment from the purchaser, we will provide a schedule of works from our quantity surveyor and agree prices with a builder to completely refurbish the property to the highest possible standard.
This work will include certified central heating, electrical wiring, damp course and double glazed windows and doors. The house will be replenished and decorated, have new floor coverings and blinds. A new bathroom and kitchen will be fitted plus new internal fire doors throughout as standard. All energy and rental conditions will be met within the house. Smoke detector systems are fitted in each room.
Buy to let or Multi-let?
All properties can be completed as a standard buy to let property, downstairs you enter through the front door into a hallway which will have a door to the first reception or living room. The hall continues to the stairs on one side and then opens up into the second reception or dining room. In all our properties if you are standing at the end of the hall you will be facing directly the door to the kitchen at the other side of the dining room.
This gives the possibility to extend the wall of the hallway across the dining rooms and adding a further door to create another enclosed room. On a multi-let basis the living and dining rooms become two extra bedrooms.
These rooms both have external windows and because this type of terrace typically has large downstairs rooms they form extremely adequate bedsits. We will also finish each room with locks on the doors and make any upgrades legally required for multi-let properties such as door closers fire extinguishers etc. (Click Here to see the before and after floor plans).
We can demonstrate returns from betweeen 15 to 20 percent on the multi-let option! A standard buy-to-let property will rent at around £400 pounds per month, allowing for maintenance and the mortgage of around £200 a month a net profit of say £150 per month. A four room multi-let however normally rents at £400 per week gross. With overheads including the mortgage bills maintenance/management costs and taking out a reasonable figure for unoccupied months, the net profit comes in conservatively at £1,100 per month or £13,200 per year. For student properties there is no council tax to be paid which further increases the profit.
When you legally complete on your purchase under our multi-let system, not only will we carry out the conversion work but we will provide via our independent management company a minimum 3 deposit paid tenants.
The extra multi-let service includes the conversion work, fully furnishing all rooms including blinds, we provide extra fittings within the kitchen unit such as fridge freezer washing machine etc. We provide a tenanted fully authorised building. In short, you will have a profitable ongoing business from day one! Due to new government regulations, there is a massive increase in demand for bedsit type single room housing and an ongoing management agreement, which means that your property and profit margin will be maintained without any hands on involvment from you. It also means that investment in more affordable areas of the country can become a viable reality wherever you are based.