Winning Qudrant, Wishaw, ML2 7TS
Basic Figures
Rental £300
Renovation £4500
Purchase £15,000
Home Report R £19,000
- One bedroom ground floor flat
- Amazing BTL opportunity
- Situated in a high rental demand area
- Electric heating
- Double glazing
- Ample street parking
- Easy commuting to Glasgow city centre
Basic Figures
Rental £300
Renovation £4500
Purchase £15,000
Home Report R £19,000
Investment Calculations:
We need to make sure fees are accurate and to be on the safe side, we should create a 10 -15% buffer in case anything goes wrong.
We need to make sure fees are accurate and to be on the safe side, we should create a 10 -15% buffer in case anything goes wrong.
Cost Summary:
Summary: includes all cost to acquire the property
Money out: Suppose we would refinance the property by adding value or renovating the place. Once we get refinance, we get money out. During the acquiring of the first few properties, we couldn't remortgage.
Getting a mortgage
If we were to get mortgage in the first place, the current available channel in Hong Kong is through Bank of China or Bank of East Asia. They would only lend a minimum of £50,000 (70% of the property value), meaning that your property shall reach a minimum of £72,000.
Monthly Payment
I have left it as a blank but it is worth our discussion.
Our money is totaled 28150
yearly rent is £225x 12 = 2700
Divide 28150 / 2700 = 10.42 years, meaning
Assuming no rent increase, we would have own that property in 10.42 years and start collecting passive income for the rest of your life.
Let's not forget that if you have acquired several of these properties, you will be able to make mortgage out of these properties and buy more properties for passive income.
For any question, you can e-mail [email protected]
Herbert.
Money out: Suppose we would refinance the property by adding value or renovating the place. Once we get refinance, we get money out. During the acquiring of the first few properties, we couldn't remortgage.
Getting a mortgage
If we were to get mortgage in the first place, the current available channel in Hong Kong is through Bank of China or Bank of East Asia. They would only lend a minimum of £50,000 (70% of the property value), meaning that your property shall reach a minimum of £72,000.
Monthly Payment
I have left it as a blank but it is worth our discussion.
Our money is totaled 28150
yearly rent is £225x 12 = 2700
Divide 28150 / 2700 = 10.42 years, meaning
Assuming no rent increase, we would have own that property in 10.42 years and start collecting passive income for the rest of your life.
Let's not forget that if you have acquired several of these properties, you will be able to make mortgage out of these properties and buy more properties for passive income.
For any question, you can e-mail [email protected]
Herbert.