Property Investment Case Study – Magazine Road, Ashford, Kent
The successful property investment projects just keep coming here at CPI. This property investment case study should inspire you to get involved (or more involved) with property investment. This is a 5 bedroom semi detached house that was purchased in November 2015. The goal with this property was to turn it into a 7 bedroom HMO.
A full refurbishment of the property was required and the previous owner had kept dozens of dogs in the house which certainly didn’t help. The refurbishment was very extensive and major work had to be undertaken by the talented and dependable CPI trades team. This included a rewire of the electrics, re-plumbing the water system, installing en-suites and the installation of new windows.
There was a huge amount of work to be done but it was all completed on schedule in mid February 2016. We decided that we would let out and manage the property ourselves, and we were able to find the necessary tenants very quickly as the property was so appealing to them.
The original purchase price of this property was £275,000 and the refurbishment and furniture costs were substantial at £60,000. The buying costs and other expenses came to £8,500. The property was re-valued at £425,000 so this was a total success. This property now provides a monthly profit of £1,642.
Purchase Price: £275,000
Refurbishment and Furniture Costs: £60,000
Buying and Other Costs: £8,500
Total Expenses: £68,500
Revaluation Price: £425,000
Monthly Profit: £1,642
These successful property investment projects are achievable if you have the right knowledge and experience and a good team to support you. You also need to have the tenacity for a lot of hard work. But successful property investment does not always have to be like that.
If you take the opportunity to become one of our “hands off” property investment partners then you can leave all of the hard work to us. We will find the right property and then tackle all of the refurbishment that is required. Find out more by contacting us here now.
Please watch the video below to see how we rejuvenated this property