Refurbishment of a 2 bed flat

for Buy to Let

Project: Mayfield

Numbers:

Purchase

Refurb

Other costs

All in

Revaluation

£39,500

£11,500

£5,000

£56,000

£63,000

Monthly rental 

Expenses incl mortgage

Monthly cashflow

Gross yield

Return on cash left in

£450

£190

£260

8.5%

35.0%

This was our first property we have bought and it was full of learnings for us. Starting from how to arrange trades to dealing with utility companies, we had a steep learning curve ahead of us. 

 

However, with our experienced build team, we leveraged a lot on other people's knowledge and de-risked the investment for us. 

At the time, we thought we are undertaking a massive refurbishment. Now, we know, it was massive, but only because it was our first! 

 

Comparing this refurbishment to our current deals, we can say that we have come a long way!

Works carried out:

New kitchen

Upgrades to bathroom

New consumer unit

Decoration and floorings

See us in action.

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