Flip for over £20,000 or money out as a BTL (Buy-to-let) under a year + Stamp Exempt (smp003)

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sold out

Flip for over £20,000 or money out as a BTL (Buy-to-let) under a year + Stamp Exempt (smp003)

497.00

Reserve this investment opportunity for £497

Figures in Brief:
Sale Agreed at: £35,000
Estimated Done Up Value: £90,000
1st exit: Flip Profit: £20,373
2nd exit: Cash Flow (BTL): £223.13  - Money out in 6 months

Property Description: This is currently a 2 bedroom mid terrace house in a popular residential and rental area giving a good 2 exit strategy for investors. Just a couple doors down, there are builders working on a property that will be rented out once finished and comparables in the area show its a great residential area for selling also. The property has been empty for well over a year and is in need of a full renovation! Some great benefits to the property include, tall ceilings, original feature fireplaces, stunning mountain/forest views, potential for off road parking, potential to turn into a 3 bedroom house, potential to completely change its condition!!
As you walk in there is a long hallway separating the reception rooms. There are currently two doors that lead into the front or back reception rooms, these rooms are separated by a wide open arch. To the back of the property is the kitchen which has a window that will have views to the back garden and the views beyond which make the position of this property so desirable! The back door is located in the kitchen, the garden is overgrown and in need of stripping, There is potential to add off road parking to this property as there is rear lane access.
Upstairs are whee the bathroom and bedrooms are located. The bathroom is just at the top of the stairs with a few steps leading down into the currently three piece bathroom. There is a velux window that allows great natural lighting into the room. Bedroom two is located to the back of the property, benefiting from the amazing mountain/ forest views, this bedroom also benefits from some of the properties original features including an original fireplace. Bedroom one is a large room located to the front of the property, this bedroom benefits from views of the stunning properties opposite and hill leading up to other streets in the area, it also has an original fireplace. There are two large windows in this room and could benefit being split to create a three bedroom house.
This property has great potential and just needs some good attention and tender loving care to get it back on the market to sell to a loving family or rent out to the locals for decent affordable accommodation.

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Property Information:

Property Address: , Abertillery, Six Bells

Number of Bedrooms (current): 2

Is there potential to add a bedroom?: YES - Front bedroom has two large windows, this room could be split into 2 separate rooms

Reception Rooms: 2

Bathrooms/shower-rooms: 1

Property Asking Price: N/A

Agreed Sale Price: 35000 (strictly CASH BUYERS ONLY)

Fair Market Value (DUV): 90000

Comparable 1: 66 Alexandra Road, Abertillery, Six Bells, NP13 2LQ - SOLD £90,000 - 14th December 2018 - Excellent modern condition - 2bedroom with 3rd bedroom in loft

Comparable 2: 104 Alexandra Road, Abertillery, Six Bells, NP13 2LH - SOLD £140,000 - 14th March 2018 - Excellent modern condition recently refurbished - 3bedroom (bay windows)

Comparable 3: 97 Alexandra Road, Abertillery, Six Bells, NP13 2LQ - SSTC Asking price £85,000 - Dated/ old decor but in good condition - 2bedroom with 3rd bedroom in loft

If no comparables, please state why there are no direct comparables: Properties in a bad condition or very old sell for between £50,000-£60,000 meaning this has been accepted at between 30-40% BELOW MARKET VALUE! An example is 79 Alexandra Road, Abertillery, Six Bells, NP13 2LH - SOLD £60,000 September 2018 3bed - in need of full modernising!
9 Alexandra Road, Abertillery, Six Bells, NP13 2LG - FOR SALE since 8th September Asking price £60,000 - Old dated decor needs full rip out and refurbishment 2bedroom
58 Alexandra Road, Abertillery, Six Bells, NP13 2LQ - FOR SALE since 2nd March 2019 Asking price £125,000 - Dated decor but in good condition - 4bedroom with 3rd bedroom in loft
55 Alexandra Road, Abertillery, Six Bells, NP13 2LQ - SSTC Asking price £59,995 - In need of rip out and modernising 3bedroom

Market Status: off market

Why is the property being sold?: The landlord or co-operate selling off assets

Is the property in a lettable condition: No

Is the sale price negotiable?: No

Property Type: House

Freehold or Leasehold: Freehold

Is the property part of portfolio?: Yes, seller has more

Exit Strategy 1: Cash Purchase Flip (or bridge)

Exit Strategy 2: BTL

Exit Strategy 3: Capital Growth

If HMO strategy please select: N/A

Potential Target Demographic: Families


Refurbishments Required

Refurbishment Costs: Budget: up to £25,000

Property has not been lived in/ looked after for quite a while and needs some TLC and modernising!
* Complete rip out
* Re board and plaster where needed (Kitchen ceiling is exposed - needs a re-board)
* Full rewire
* Create third bedroom
* Combi-boiler, pipework and radiators throughout
* Double glazed windows throughout (x7 - Reception room front, back, kitchen, bedroom 1 has two windows, bedroom 2 - bathroom has a vellum window)
* Internal doors throughout
* New Front and Back Door
* Replace UPvC gutters and fascias
* New Kitchen and Tiles
* New Bathroom and Tiles
* Underlay flooring and Carpets throughout (hallway, reception rooms x2, kitchen, stairs, landing, bathroom and potentially three bedrooms)
* Paint and Decorate throughout
* Tidy garden


The local council in this area are offering a 0% loan of up to £25,000 for properties that have been empty for at least 6 months to bring them back into a liveable condition.
Sourcing Agent can provide the information needed to apply for this.

SMP Can project manage the build for 10% +VAT of the refurb amount


Flip Figures (Buy, Renovate, Sell)

Purchase Price: £35,000
Refurb costs: £25,000.00  The local council in this area are offering a 0% loan of up to £25,000
Entry legal costs: £1200.00
Exit legal costs: £1200.00
Stamp Duty: £0
Survey: £450.00
Broker Fee: £0
SMP Consultation Fee: £4997.00
6 months of bills: £750 (Council Tax BONUS!! - this property has been vacant for more than 6 month meaning the council will give you 6 months free whilst refurbishing the property)

Estate agent selling fees: £1539

RESALE PRICE: £90,000

Profit: £20,373


BTL Figures (Buy to let)

Purchase Price: £35,000
Refurb costs: £25,000 The local council in this area are offering a 0% loan of up to £25,000
Legal costs: £1200.00
Stamp Duty: £0

Survey: £ 450
Broker Fee: £0
SMP Consultation Fee: £4997.00
6 months of bills: £750 (Council Tax BONUS!! - this property has been vacant for more than 6 month meaning the council will give you 6 months free whilst refurbishing the property)
Rental Income: £525.00
New Mortgage (3.5%): £196.88
EA Rate (10%): £52.50
MOE rate (10%): £52.50

CASH FLOW: £223.13

Money Left In: £1500

Years to paid back: 6 months 


Area Description: Abertillery town centre just 0.6 miles from the property, which is less than a 30 minutes drive to the up-and-coming Merthyr Tydfil and just a 15 minutes drive to Ebbw Vale which offers a larger town and wider range of amenities and entertainment. Ebbw Vale is most famous for its old Steel Works site, which is currently being regenerated, the old site will soon hold their new hospital and railway station directly to Cardiff, bringing valuable links to the area.
The town of Abertillery offers a range of its own shops and amenities also including small independent shops selling unique items, Tesco superstore, Iceland, Natwest and Barclays bank, Peacocks clothing and a number of restaurants and cafes.
LOCAL AREA DEVELOPMENT AND INVESTMENT - Thousands more visitors to Abertillery thanks to £8 million investment - This includes replacing the Foundry Bridge, restoring the old Metropole Theatre and opening new, free car parks. Grants worth £1 million were also awarded to businesses to help spruce up their shop fronts. The new car park in the centre of the town is part of a scheme that forms part of the £13.1m regeneration of Abertillery town centre. In 2011, Blaenau Council was awarded £13.1 funding to overhaul the town centre. The park proposal is the latest stage in this long-term development. Projects completed to date include Foundry Square (2011), Church Street (2012) and Somerset Street southern gateway (2011) while future schemes Trinity Chapel, Foundry Bridge and Abertillery Community Hub. CCTV equipment was also installed, and a new traffic scheme will be developed to improve the flow of vehicles around the town. Funding will also be available for existing and new businesses to create or safeguard jobs, as well as for improvements to be made to the appearance of commercial properties.
Primary schools - 1. ALC Queen Street Primary Campus 0.1 miles, 2. ALC Bryngwyn Road Primary Campus 0.3 miles, 3. ALC Tillery Street Campus 0.7 miles.
Secondary school in the heart of Abertillery - Abertillery Learning Community 0.7 miles.
Theatre - Metropole Cultural and Conference Centre (an art centre and business hub) 0.3 miles https://www.the-met.co.uk/?page=
Amenities - Tesco Superstore and Petrol Abertillery 0.6 miles, Abertillery Sports Centre 0.7 miles, Abertillery Library 0.4 miles

Nearest Train Station: Llanhilleth 2.3 miles

Any key journey times: Less then a 30 minute drive is the up-and-coming town of Merthyr Tydfil... Merthyr Tydfil known to be a tourist hotspot all year round with one of three national parks in Wales within an hour from the property... The Brecon Beacons. The Brecon Beacons are one of four ranges of mountains and hills in South Wales which make up the Brecon Beacons National Park. The National Park was established in 1957, the third of the three Welsh parks after Snowdonia in 1951 and the Pembrokeshire Coast National Park in 1952. Merthyr Tydfil is a town with a population of approximately 63,546, at one time the largest town in Wales, today it's the country’s fourth largest urban area of population. Situated in the historic county of Glamorgan. Administered by Merthyr Tydfil County Borough Council. The National Cycle Route 8 passes through the town and Bikepark Wales is the UK's first purpose-built mountain biking centre, is located at Gethin Woods, Merthyr Tydfil.
The Brecon Mountain Railway is easily accessible by cycle and car, it is a 1 ft 11 3⁄4 in (603 mm) narrow gauge tourist railway on the south side of the Brecon Beacons. The railway's starting point at Pant is located two miles (3 km) north of the town centre of Merthyr Tydfil. One of the benefits of the line, and a condition of the planning permission, is that tourists can access and experience part of the Brecon Beacons National Park without driving their cars through it.
Cyfarthfa Retail Park a large mall just off the A470 perfect for any shopping occasion with great parking facilities, multiple outlets including Next Home, River Island, New Look, Debhanams, M&S, TK Maxx, Argos, B&Q and a few more.
The Vertigo Trampoline park - immerse yourself in the bounce experience that is Vertigo Trampoline Park! Vertigo is the largest trampoline park in Wales offering over 40,000 square feet of free bounce and endless activities to keep children and adults satisfied for hours on end.
Merthyr Tydfil Leisure Village - is the perfect place to socialise in the area with a number of amenities and entertainment opportunities for the whole family, with a VUE Cinema, Costa Coffee, Arcade, Superbowl, Laser Quest, a Leisure Centre including a Swimming pool and a number of restaurants including Nandos, Frankie and Bennys, Harvester, McDonalds, Chinese, Subway, Firefly pub and restaurant and a Travelodge hotel.
Trago Mills - known as 'The South West's Original Discounted Retailer' - BRAND NEW to Merthyr in Spring 2018 after years of planning and an 18 month build, we opened our £65 million store on Saturday 21st April. We were blessed with glorious Welsh sunshine for pretty much the whole day and we welcomed 12,000 people through the doors. With competitive prices, this means that locals have great variety and option when shopping in the town.


The fine Print
SMP operates in trust with its potential investors. SMP is registered with the Property Ombudsman Group. SMP prides itself on delivering BMV deals with accuracy and confidence. The sourcing fee for this deal is £4997(inc VAT) which is paid on completion of the sale. A £499 deposit is required to secure the deal which is refundable if the investor decides not to proceed to an agreed sale with the vendor, ie after viewing. The deposit is not refundable if the investor pulls out of the purchase after sale agreed. 

SMP takes no responsibility if deals “fall through” for matters out of our control. It is always highlighted that property investment carries an element of risk and ultimately a deal may not be successful. There for deal owners are advised to carry out their own due diligence to confirm for themselves the findings SMP present. SMP has no control of the UK property market prices and investments can be lost or profit margins shortened with the fluctuating market