Refurbishment of a 2 bed terraced house
for Buy to Let
Project: Poplar
Numbers:
Purchase
​
Refurb
​
Other costs
​
All in
​
Revaluation
£50,000​
​
£19,000
​
£3,000
​
£72,000
​
£85,000
Monthly rental ​
​
Expenses incl mortgage
​
Monthly cashflow
​
Gross yield
​
Return on cash left in
£575
​
£345
​
£230
​
8.1%
​
33.5%
This property had been neglected for many decades. The previous owner was about to be repossessed and after two sales have fallen through due to the property being unmortgageable, we purchased it quickly in the rundown condition it was in.
​
The windows were even original from when the property was built and it was the last property on the street with those windows in.
Throughout the refurbishment, we had several ​visits from the neighbours thanking our builder and us to finally restore this house and making it blend in with the other surrounding houses.
​
The house is now rented to a lovely couple who made this place their home as it is close to their own families. ​
Works carried out:
​
Damp proof course
New consumer unit
Plaster throughout
New kitchen
New bathroom
Replacement of windows and doors
Decoration and floorings
See us in action.​
​