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GOLDEN GLOVE EXTRA OUTLINE OF CURRENT DEALS 1) Lease Option- Handsworth A ten year rent to rent from February 2009 with a five year right to purchase for £165k during years 1-3 and for £175k year 4-5 Gross income £35,360pa Rent payable currently £2,400pa, increases to £8,400 fixed after year two for the final 8 years Market value £301.5k (RICS) Capital required to repay renovation costs and fees £13,500- £54,000* *Depending on payment option Available: immediately 2) Lease Option- Oldbury A five year rent to rent with a twelve month right to purchase for £100k from May 2009. Gross income £21,840pa Rent payable £10,400pa Market value £192.5k (RICS) Capital required to repay renovation costs and fees £5,125- £20,500* * Depending on payment option Available: immediately 3) Vendor Finance- Bloxwich The vendor will lend you the money to purchase the property over ten years for an initial payment of £9k then £500pcm years 1-5 increasing to £700pcm years 6-10. Gross rent £10,140 Market value £75k (RICS) Capital required to repay renovation costs and fees £8,125- £32,500* * Depending on payment option Available: immediately 4) Lease Option- Wednesbury (In negotiation) A three year lease option with right to purchase for £100k Gross income £18,720pa Rent payable £5200pa Estimated market value £175k Capital required to repay renovation costs and fees £11,250- £45,000* * Depending on payment option Available: negotiable NB this property has potential to extend so doubling the income and the MV. 5) 50% Joint Venture - Walsall Provide the finance to build a new 5 bedroom house on land owned by HMO Daddy. Outline planning permission has already been obtained. JV Partner to provide £100k for building costs. Expected MV of finished house £290k Potential cash release at 70% LTV £203k when finance becomes available Projected gross income of £31,200pa Return of capital subject to finance being available after 12 months plus £25k, or remain in the joint venture and receive 50% of net income from renting the property for as long as your capital remains in the property. Alternatively HMO Daddy will sell this land, with planning permission, for £100k. To secure any of the above deals I will require a non-refundable deposit of £2,500 and you are given 30 days to complete legals. For further fuller details please contact HMO Daddy:
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