Blackstone Road, Chorley - 2 bed Buy To Let
Project Information
This 2 bed property in Chorley was purchased by C&W Homes in July 2020 following direct to vendor negotiations.
The property was in disrepair and needed a full refurbishment, including new boiler, rewire, DPC as well as new kitchen, bathroom, skim, paint and carpets throughout.
We worked with 3 private investors on this project, providing a 10% fixed return on their funds over a 12 month term. Full loan agreements and guarantees for all. As additional security we provided our investor that provided funds for the purchase with first charge on the property.
The Numbers
Purchase Price: £39,999
Refurbishment: £21,000
Legals and other costs: £5,000
Total: £65,999
Private Investment: £57,000
Private Investment Interest: £5,700
C&W Homes Investment: £9,000
Total: £71,700
New Value on Refinance: £95,000
75% LTV Mortgage: £71,250
Money Left in: £450
Rent: £550pcm
Cashflow: £240pcm
ROI: INFINITE
With the funds drawn down (£71,250) from the mortgage this allows us to repay our investors along with their bank busting interest rate.
Investor funds: £57,000
Funds returned to investors: £62,700
Time frame: 12 month
