SOLD – 3 Bed House in Birmingham 23% Discount
November 17th, 2009
This 3 bedroom house is in very good condition and is located in a residential area a few minutes away from Birmingham town centre. It has been valued at £105,000 with an agreed purchase price of £81,000, providing £24,000 instant equity. The rental assessment on the property is £500 pcm, which will generate a cashflow of circa £170 pcm after expenses.
Deal Summary
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RICS valuation: £105,000 |
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Price: £81,000 |
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£24,000 Instant equity |
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23% Discount guaranteed or your money back. |
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Valuation paid for. |
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Market Rent: £500 per month. |
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Circa £170 net profit per month |
Monthly Cashflow
- Rental Income: £500
- Mortgage at 4.79%: £250
- Management: £69
- Insurance: £10
- Net Profit: £171
Buying costs
- Finance fees: £600
- Legal fees: £600
- Sourcing fee: £1,500