Having Imagination In Property
Besides having imagination that an area will turn around, you need knowledge. You need to make sure there are no structural damages to the property you seek to buy.This building is a complicated block of flats. First we need to be 100% sure no movement. Simple solution both our builders whom we have been working together for 5 years…plus a surveyor….Next there are legal issues. We are exchanging subject to our solicitors and us solving them.Projects and conversion projects can not be done remote control. There are always issues…Like bringing in water…power…plus a myriad of electrical and plumbing issues to sort out.
As long as we can tick all the boxes…This building will be a net yield cash on cash…with out leverage of approx 13-14% net return….add in leverage…you pick your poison…interest only….fixed…fixed for how long. Bottom line this can be a very positive and profitable deal among all the others we have going on.