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HMO THREE
Conversion from 3 to 5 bedroom HMO in Fleetwood
Located close to the specialist Fleetwood Nautical College, local shops and amenities
OVERVIEW
We refurbished and converted a mid-terrace property in Fleetwood, Lancashire from a 3-bedroom single let into a 5-bedroom HMO.
THE NUMBERS
Purchase price: £78,000
Fees: £3,540
Refurbishment: £69,820
End valuation: £160,000
Interest paid to investors: £13,220
Gross Rental income: £2500 pcm
Net cash flow: £1,305pcm
Money left in after refinance: £18,160
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THE AREA
The property is located in Fleetwood making it accessible from the specialist Fleetwood Nautical College. It is located close to the seafront and the popular Lord Street which is home to many of the areas shops, bars, and cafes.
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