Case studies in property sourcing for Buy To Let

When people first get interested in having a property sourced for them, they often ask about previous examples. So on this page we have put together some real life examples to give you an idea of the type of properties we have found and the results we achieved.

Flat 1

Brief description:	Two bedroom, 2nd floor (top) converted flat, central heating, double glazing, communal gardens, share of freehold
Cost:	£82,000
Cost of refurbishment:	£5,000
Date of Offer:	August 2003
Date of completion:	January 2004
Value now :	£110,000
Rent:	£550
Yield on cost:	8%
Yield on cash invested:	38% before capital gains
Remortgaged	All deposit and costs pulled out

Flat 2

Brief description:	Two bedroom, 1st floor Purpose built flat, central heating, communal gardens, share of freehold, desirable road
Cost:	£108,000
Cost of refurbishment:	£9,000
Date of Offer:	June 2003
Date of completion:	August 2004
Value now :	£160,000 and rising
Rent:	£595
Yield on cost:	6.6%
Yield on cash invested:	28% before capital gains
Remortgaged	All deposit and costs pulled out December 2003

Flat 3

Brief description:	Two bedroom, 1st floor converted flat, central heating, overlooking park
Cost:	£83,500
Cost of refurbishment:	£6,500
Date of Offer:	May 2003
Date of completion:	September 2003
Value now :	£110,000
Rent:	£550
Yield on cost:	7.9%
Yield on cash invested:	34.7% before capital gains
Remortgaged	All costs recovered

Flat 4

Brief description:	Two bedroom, ground floor purpose built flat, central heating, double glazing, communal gardens, share of freehold, garage
Cost:	£114,500
Cost of refurbishment:	nil
Date of Offer:	August 2004
Date of completion:	November 2004
Value now:	est £125,000
Rent:	£650
Yield on cost:	6.8%
Yield on cash invested:	45% before capital gains

Flat 5

Brief description:	Two bedroom, 1st floor converted flat, central heating
Cost:	£98,000
Cost of refurbishment:	£10,000 (including fire regulations work to communal areas and double glazing throughout
Date of Offer:	April 2004
Date of completion:	September 2004
Value now :	£130,000
Rent:	£575
Yield on cost:	7%
Yield on cash invested (incl refurb):	28% before capital gains
Remortgaged:-	All deposit and most costs pulled out

Flat 6

Brief description:	One bedroom, hall floor converted flat, central heating, parking space
Cost:	£86,000
Cost of refurbishment:	£nil
Date of Offer:	June 2004
Date of completion:	September 2004
Value now :	£110,000
Rent:	£450 - existing tenant retained at increased rent
Yield on cost:	6.2%
Yield on cash invested :	42% before capital gains
Remortgaged:-	All deposit and some profit

* Yields are stated gross