Case Studies
East End
The Client: A couple from Europe who's son had studied in the city.
They had several properties in another English based city but were keen to buy in Glasgow. They'd tried several attempts to buy on their own but were getting nowhere and the distance was making it impossible to go to viewings. They had a set budget in mind with a realistic rental return so I went to specific areas in the city where I knew I could achieve that.
The Property: After securing a one bedroom tenement flat that had seen better days with a very odd layout, I set about a full renovation to ensure the property was flowing perfectly in walk in condition and tenants would fall in love with. The renovation costs include architect and building engineer fees.
Rental: Once the renovation was complete, the property was reserved on the first viewing by a lovely couple who were delighted with the modern decor and plan to stay there throughout their studies.
Figures:
Purchase Price: £67,000
Renovation Cost: £26,500
Furniture: £800
ADS @ 4%: £2680
Total = £96,980
Rental Value: £650
Rental Yield: 8%
Market Value: £105,000
City Centre
The Client: A young professional living in London.She had been sitting on a small pot of money and knew investing in property was a good idea but didn't know where to start let alone the time to travel up.
The Property: I secured a one bedroom tenement flat right in the heart of the city close to Central Station that had seen better days with a small kitchen but had potential to open it out. The property was very tired throughout so we embarked on a new kitchen and bathroom and created a very modern chic open plan space.
Rental: Once the renovation was complete, the property was reserved on the first viewing by a young professional delighted with what was on offer in such close proximity to the centre.
Figures:
Purchase Price: £81,000
Renovation Cost: £17,367
Furniture: £750
Total = £99,117
Rental Value: £650
Rental Yield: 7.8%
Market Value: £120,000
Southside
The Client: From Europe who was looking to extend their current portfolio in Glasgow. Again this client was far too busy to go about this themself and sought my help after a successful relationship previously. They were keen to move quickly and didn't want any renovation or decoration done.
The Property: I found a two bedroom tenement apartment that had already been fully renovated to an excellent standard and was ready to move into based in the South East of the city. The client wanted a quick turnaround to get it rented so we completed within 5 weeks.
Rental: I furnished the property to an executive standard in an express time which resulted in a fully booked viewing once it went live. It was reserved by a lovely couple on the first viewing who were willing to pay 6 months in advance to secure the property.
Figures:
Purchase Price: £105,000
Furniture: £1200
ADS @ 4%:- £4200
Total = £110,400
Rental Value: £675
Rental Yield: 7.1%
Market Value: £110,000
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