This incredible development did not come without its battles. We went through two building companies, £16,000 over budget, a two month delay and a host of other issues. However, you’ll always encounter obstacles in property development.
BUT, this incredible development will bring an income of £3,760 per month. A whopping £45,120 a year. Over £24,012 of profit per year. That’s just this one property!
That’s over £450,000 of income over the next decade (more than we paid for the property!) on one development. Plus the immediate, medium and long-term capital gained.
Adding value and generating profits
We bought wisely at 6% below market value. We then developed wisely adding approximately 15% of additional value or forced capital to the property.
ROI 16%! Yield 13%! ROCI 23%! Monthly Net Profit over £2,000! Plus forced capital!
About Illingworth – our HMO Case Study
We bought in an area that has incredible and sustainable rental demand for our approach. Plus, this will only rise further over the coming years, which will produce incredible short, medium and long-term profits.
Through all the obstacles this project threw at us, this remains the best development in our client’s property portfolio. It’s also the best of the three he has completed with us so far.
Property developing done properly can still come with issues, obstacles and problems. However, when done properly they will still produce incredible results and profits, even through the toughest times!
Completing this project to the standard we did was one of our biggest achievements over the last crazy year. And the results speak for themselves!
To complete this success story, the property was let extremely quickly! After just 7 days, all 6 luxury HMO rooms were rented for the full asking price to professional tenants. Each of whom are happy with and stunned by our ready-to-move-in accommodation.
Get in touch today to discuss this development. We’ll also go through some of our other HMO developments across Berkshire, Hampshire and Surrey. Book your free one to one meeting with Peter Licourinos today.