Auction Property Refurbishment Case Study & Video

by Mark Alexander

18:21 PM, 6th September 2012
About 8 years ago

Auction Property Refurbishment Case Study & Video

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Auction Property Refurbishment Case Study & Video

Auction Property Refurbishment Case Study & VideoI’ve been having a twitter conversation with a chap called Yemi Edun who specializes in buying tired, prime location, London apartments at auction and then refurbishing and letting them on behalf of buy to let investors.

Yemi tweeted me links to a couple of You Tube video’s where he’s appeared on BBC TV’s “Under The Hammer” and they were so good I felt compelled to add one of the video’s I watched to Property118 along with my own commentary and blog.

In the video Yemi purchases a property just three minutes from The Angel Tube Station in London’s Islington N1 at auction for £278,000.

The refurbishment, which one of his colleagues (Adeola) arranged, ends up costing £13,500 which is remarkable when you see what his team managed to achieve for that amount and within such a short timescale.

Two estate agents valued the property post refurbishment at an average value of £345,000.

The associated fees were not disclosed, however, the profit on capital invested (net of fees) was in the region of £53,500

The flat was subsequently let for £470 a week (£24,440 per annum).

Based on costs (net of fees) that equates to a yield of over 8%  – in a prime London location!  Now that’s good going!!!

If you are interested in doing projects like this yourself you may also want to check out this page which explains a variety of different funding options.

This auction property case study video lasts around 7 minutes and is well worth watching.

If you require assistance or contacts to help you arrange the most appropriate funding for property refurbishment projects please speak to my business partner Neil Patterson – telephone 01603 489118 or email npatterson@property118.com

For details of more articles and useful calculators for Property Refurbishment please



Comments

Anthony Ayton

17:38 PM, 29th October 2014
About 6 years ago

By far the quickest and easiest way to find refurbishment properties is to use our real time database. At any given time we have between 5-6000 refurbs and repossessions nationally. Please complete the contact form on my profile if you require any further information.

Mark Alexander

14:31 PM, 30th October 2014
About 6 years ago

Reply to the comment left by "Anthony Ayton" at "29/10/2014 - 17:38":

Great service - see my linked article below
.


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