2024-10-21 16:02
Here is my recent property deal near Newcastle, UK 🇬🇧
- Bought a house for £84k+2k legal costs
- Refurbishment £18k
= £104k total OR (40k cash)
For the last 12 month I have:
- £10,000 profit for the lease extension on this
Property
- £500-800 profit before taxes per month= £600avg*12 month=£7,200
- Refinance 75% of 100k (new valuation)=
£75k-63k= £12k spare cash.
Total income recieved = 10+7.2+12= £29.2k
Outcome = £10.8k still left in the deal.
Would you do that?