PARTNERSHIP Success Stories
PROJECT profile;
- Direct to vendor sale (previously 1950s seaside B&B)
- Property unencumbered
- Back to brick reconfiguration & refurbishment
- Project Management by Yellow Homes
- Vendor open to creative finance deals
- Support given to secure Section 21 Evictions (x 2 households)
Property Type:
4 storey mid-Terrace House
bedrooms:
15 person HMO (1 flat & 8 HMO Rooms)
Kitchens & bathrooms:
7x shower rooms & 5x kitchens
- Year 1 ROI: 39.05%
- Refinance ROI: Infinite + Cashback
What was important;
- Multiple exit strategies (Cashflow/yield >£5000pcm, Refinance, Social Housing Lease)
- 11mths interest free negotiated on Vendor finance & Vendor contribution towards costs
- Ability to hand over immediate management of property whilst sale going through
- Security for current tenants
