LEASE OPTION 3 TO 6 BED HMO - Pegasus Property Group

This property is located very near the old hospital before it was relocated a mile further back

The royal stoke hospital is a 10 minute walk, but there is a circular bus that goes from old hospital around the new hospital and has great convenience to staff living around hear, or they can drive in park on the old A + E then get the bus from there

This was a Lease Option i had and could of either

  1. sold as is for 130k
  2. Sourced  renovate / let
  3. Renovated my self and hold

L/O-  £115K Purchase price + £450 option fee

WHAT WOULD YOU DO IN THIS SITUATION, SHARE, COMMENT AND LIKE

What did i do, i will tell you ………

PURCHASE PRICE: £115,000

RENOVATION COST: £90763 ( WAS 81k but unforseens and dormer added)

GROSS RENTAL PA: £31,320

NET RENTAL PA: £13000

ROI: 18%

 GDV – client asked for 210k ( i have many comps 225k for 2 storye property this is 3 storey with loft and dormer,id estimate this be upwards of 225k to 235k)

CHECK OUT THE BEFORE  PHOTOS

THIS PROJECT IS CARPETED JUST AWAITING CLIENT DRESS THIS THEN I WILL UPDATE COMPLETE PHOTOS

UPDATE

Furniture now in place part dressed by client already 3 rooms taken not even fully dressed (SEE PHOTOS)