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This renovation project was sourced through Michelle’s connections with the local building trade. The clients wanted to make significant changes to the property to transform it into their dream family home.
This involved removing three internal walls to make way for an open plan kitchen and dining room. The basement was converted into a cinema room and gym. An extension was also added to create an entertaining space with bi-fold doors to the garden. A private driveway with electric gates and security completed the works.
Michelle negotiated the initial price for £1,000,000, with an additional budget of £250,000 for the renovations and interior design. On completion, the clients were delighted with a valuation of over £1,500,000.
After looking into their finances and proposing a selection of options, the clients agreed to re-mortgage and free up £410,000 in capital. This was used to purchase five properties, with £30,000 to spare.
Michelle managed the whole purchasing process, along with a programme of refurbishments. Each of the properties were prepared for let and tenants were sourced, signing tenancy agreements as soon as the purchases completed.
A resulting income of £4,000 a month after costs, meant that the clients were able to realise their dream.
They had this to say: “We initially went to see Michelle about arranging a single buy-to-let mortgage. With her expert guidance and support we have been able to purchase several properties. The team smoothly managed the entire buy-to-let purchasing process for her us, from identifying the right houses, through arranging the mortgages, all the way to finding us the right tenants. We are delighted with the superb service.”
A client with £55,000 of savings was looking for an investment property in the local area. Thanks to Michelle’s connections with a bespoke builder, she was aware of a new build development opportunity just outside the town, with excellent investment potential.
After securing a two-bedroom ground floor apartment, Michelle supported her client in instructing solicitors, managing the purchase process and organising for the property to be let for a profit of £500 per month.