NO MORTGAGE NEEDED
ANYONE CAN BUY
Just pay small deposit and finders fees plus legal fees
5 year option to buy @ £170,000
Monthly payment to vendor £750
6 Bedroom terrace
Very rare opportunity to control a huge property under a lease option contract, vendor lives overseas and distance is an issue.
Property has been decorated and new carpets fitted, this will require fire doors and full hard wired smoke alarms and so on to bring this up to HMO standards, you must apply for the relevant license too.
Once this is a HMO the asset become’s hugely MORE valuable based on a commercial valuation making this a no money left in and possibly cash back too.
Owner requires £5,000 deposit which he is happy to take off the £170,000 option price, you will be responsible for covering vendors legal fees.
The bedrooms are HUGE!
Estimated rent as a HMO based on a cautious £75 per room per week:
5 bed gross £1,623
6 bed gross £1,948
8 bed £2,598
10 bed £3,247
Finders fee required
THIS WILL GO QUICK