**Net Yield 19.33% 5 bed HMO - Blundell Avenue**

Description

High Yielding 5 bedroom with low voids in Grimsby

Blundell Avenue - Financial Breakdown – 5 Bedroom – 5 Bathrooms

Purchase Price: £105,000.00
Deposit: £30,738.75 - Finance (75% LTV STL with interest paid for 1st 6 months)
Conversion/Build: £81,683.00 approx. (subject to further onsite visits)
Set up costs/Design & Build Fees: £16,763 includes VAT
Legals Estimate: £2,000
Stamp duty: £5,250.00
Furniture and flooring packs can be purchased at an additional cost: £14,784 includes VAT
Refinance to Mortgage - Solicitor Fees £1,500
Refinance Professional Fees (valuation, broker) £1,000

Total Project Cost: £236,273.75
Total Cash Outlay: £157,523.75
TOTAL CASH INPUT (IF USING 100% CASH) £226,480.00 This excludes costs associated with the bridging loan

Projected Rental Income: £2,944.00 x 12 months = £35,328.00 (annually)
Monthly Management Fee @ 10% plus VAT £353 x 12 months = £4236.00 (annually)
Maintenance & Other Expenses (MOE) @ 20% £589 x 12 months = £7,068.00 (annually)

NET RETURN ON INVESTMENT AFTER REFINANCE: 19.33%

BASED ON A REFINANCE VALUATION OF £200,000 WE CAN RELEASE APPROXIMATELY £160,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £76,273.75 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £14,744.04 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 19.33%

CHOOSE GRIMSBY: GREAT VALUE FOR MONEY: EXCELLENT POTENTIAL GROWTH RATE: FANTASTIC RETURNS