We purchased Property 8 in December 2021 for £79,000 although the home report value stood at £110,000. We purchased the property off-market as a cash purchase.

This three-bed, lower flat, had lay empty for a significant period and we received the deal with a great discount through a property sourcer, anticipating a 20k profit by the time of sale. However, we made our biggest mistake to date and made the decision to handle the refurb ourselves.

18 months, £45k in refurb costs, and many valuable lessons later we finally got it rented in June 2023.

The property was re-valued at £155k but could only re-finance at £150k due to a rent stress test.