**Net Yield 36.7% 6 bed HMO - Ramsden Street**

Description

High Yielding 6 bedroom with low voids in Barrow-in-Furness

Ramsden Street - Financial Breakdown – 6 Bedroom

Purchase Price: £123,000.00
Deposit: £37,853.00 - Finance (75% LTV STL with interest paid for 1st 6 months)
Conversion/Build: £90,279 approx. (subject to further on-site visits)
Set up costs/Design & Build Fees: £16,763 includes VAT
Legals Estimate: £2,000
Stamp duty: £6,150
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: £265,079.00
Total Cash Outlay: £172,829.00
TOTAL CASH INPUT (IF USING 100% CASH) £257,976.00 This excludes costs associated with the bridging loan

Projected Rental Income: £3725.00 x 12 months = £44,700 (annually)
Monthly Management Fee @ 10% plus VAT £447 x 12 months = £5,364.00 (annually)
Maintenance & Other Expenses (MOE) @ 20% £745 x 12 months = £8,940.00 (annually)

NET RETURN ON INVESTMENT AFTER REFINANCE: 36.7%

BASED ON A REFINANCE VALUATION OF £270,000 WE CAN RELEASE APPROXIMATELY £216,000.00 BY RE-MORTGAGING AFTER 6 MONTHS. AT THIS STAGE, YOU WILL HAVE AROUND £49,079.00 LEFT IN THE DEAL AND AFTER DEDUCTING THE NEW, INCREASED MORTGAGE INTEREST, YOUR NET INCOME WILL BE AROUND £18,036 PER ANNUM GIVING YOU A NET RETURN ON CASH INVESTED OF 36.7%

Ad ID: 1802953382