How close can you get to "Money in, Money Out"?

Available for you to invest! Our latest deal in Neath!

Vey often our clients ask for their next deal to be a MIMO (Money in Money Out). This means they are seeking an opportunity where they can retain a property as a rental, and withdraw all their investments on the refinance. That sounds brilliant, doesn't it? Now, these deals do exist and every so often we get pretty close to making it happen. Below are the details for an "almost" MIMO deal right here in Neath, South Wales. 

Figures in Brief

Flip
Asking Price - £45,000
Agreed Purchase Price - £37,500
Build Costs - £11,143
End Value - £70,000 to £75,000
Potential Flip Profit - £14,000 to £19,000

Retention Figures
Rental Income pcm - £475
Cash Flow - £170
Rental Yield - 8.5%
ROI - 4.8%
Money Left in - £1454
 

SPP have secured an amazing deal on this 2 bedroom terrace just 5 minutes walk from Neath town centre. This deal comes with some unique privileges.  The property has undergone the council regeneration scheme and just a few years ago received new double glazing throughout, pebble dashing complete back and front as well as new guttering. From the outside, she truly is perfect. On the inside, there was once a damp problem in the kitchen roof, when it actually fell through. However, the flat roof has since been replaced, but the ceiling not fixed. This has clearly been scaring off some buyers, but SPP, as seasoned investors, knows this is an easy fix and a real opportunity to make some money. Overall, throughout the inside SPP will re-gut and renovate, with a healthy £11K budget for refurbishments, we see a tasty re-sale price of £70,000 to £75000.