Buy, Refurbish, Rent, Refinance (BRRR)
Great Western Place, Aberdeen, AB10 6QN
£100,000 GDV
1 bed flat in well maintained block with communal garden.
Purchased on a bridging loan in 2021 with 2 other properties (ie 3 properties on 1 bridging loan). Acquisition fully funded by a private lender.
Light internal…
Description
Type
Buy, Refurbish, Rent, Refinance (BRRR)
Location
Aberdeen
GDV(Gross Development Value)
£ 100,000
Purchase Price
£ 70,000
Costs(Refurbishment & Fees)
£ 15,400
Total Cash Required
£ 32,900
Rent
£ 510
1 bed flat in well maintained block with communal garden.
Purchased on a bridging loan in 2021 with 2 other properties (ie 3 properties on 1 bridging loan). Acquisition fully funded by a private lender.
Light internal renovation.
When we purchased the property the EPC stated the floor area was 47m2. If this was true then the GDV would have been £110,000. The surveyor acting on behalf of our lender for the refinance verified that the actual floor area was approximately 38m2.
Let unfurnished.