This property was purchased January 2023 for £35,000 in cash from the open market. The home report value was £50,000.

The aim for this property was a quick turnaround, the flat was generally fine in terms of decoration but the EPC rating was lower than we would have liked. We stripped back the external facing walls and added in insulation. We also did a partial rewire, dropped a couple of ceilings, removed the fireplace, and added spotlights. The bathroom and kitchen were in a decent condition and only required minor fixes. A new boiler and gas central heating system was installed.

We rented this flat in May 2023 and re-valued at £70,000. We decided against re-finance as we want equity in the portfolio for future deals.