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Buy To Let – Completed 2015

    Home Case Studies Buy To Let – Completed 2015

    Falcon Way, Ashford was a two bedroom terraced house needing refurbishment.

    The project goal was to get it ready as a buy to let property and then rent it out as quickly as possible. There was some serious work needed on this house and we got started on 4 May 2015 three days after we purchased it on 1 May 2015.

    The refurbishment work included the installation of a new bathroom and kitchen as well as a lot of tiling work, the laying of new carpets and total redecoration. A new fuse board had to be installed which enabled us to obtain a certificate from a qualified electrician and we also obtained a certificate from a qualified gas engineer.

    Incredibly it only took just over three weeks to get this property into a position where we could rent it out. Our contracting team is just the best and they really pulled out all of the stops on this one.

    A new tenant moved into the house on 29 May 2015 which was just 28 days after we had initially purchased the property. It just goes to show what can be achieved when you have the right level of determination and trade professionals that you can depend on.

    Video - Falcon Way Refurbishment Project
    Video - Falcon Way Refurbishment Project
    Falcon-Way-1
    Falcon-Way-1
    Falcon-Way-8
    Falcon-Way-8
    Falcon-Way-2
    Falcon-Way-2
    Falcon-Way-9
    Falcon-Way-9
    Falcon-Way-3
    Falcon-Way-3
    Falcon-Way-6
    Falcon-Way-6
    Falcon-Way-4
    Falcon-Way-4
    Falcon-Way-7
    Falcon-Way-7

    Here are the project financials

    Costs Summary
    Purchase Price: £145,000
    Stamp Duty and other Fees: £1,500
    Refurbishment: £9,500

    Total Costs: £156,000

    New Valuation
    Value: £195,000

    Investment Returns
    ROCE: 12%
    Equity Created: £39,000

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    Letraset Building, Wotton Road, Ashford, Kent, TN23 6LN

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