Ready Made Deal - Kinross Scotland - 10 Year Lease Option - £25,000 Equity and £302 per month positive cash flow BONUS Land with Development Potential at Rear
21 Bowton Road, Kinross, KY13 8EQ
This Lease Option deal enables investors to control the property without obtaining a mortgage and purchasing property at below today's market value anytime over next 10 years giving plenty of scope for capital appreciation.
This deal comes with a plot of land at rear of property that has a very good chance of acquiring planning permission following vendor's consultation with an architect.
The land alone could add thousand of pounds in extra value of property see plot pictures here...
4 Bed detached traditional cottage with many unique features. Comprising of 4 double bedrooms(one with ensuite), lounge, kitchen diner, downstairs cloakroom/wc, upstairs bathroom, small front garden and extremely large rear garden with potential to build a 1 or 2 bedroom detached bungalow (subject to planning, this has been verified by a couple of architects), driveway.
The property has recently had £30,000 spent on modernising it and recent internal flood damage rectified. Works include, rewiring, damp course, new electric central heating, kitchen, bathroom, flooring, decor, landscaped gardens.
You can view trhe full schedule of works here....
The tender appraisal can be viewed here....
The property comes with immediate vacant possession and can be managed by a local agent who believes that property will suite LHA tenant at £184.62 per week for Perth & Kinross Council Housing Allowance.
Kinross is famous for "T in the Park" event when demand for short term letting exceeds supply during summer holidays. The property is well located for Edinburgh (20 minutes drive), Perth (15 minutes drive) and Aberdeen.
Financial Figures for this deal are as follows:
Current Market Value: £220,000 (Last RICS Valuation in June 2008) you can view the original mortgage offer using the links below
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Option Price: £195,000
Equity: £25,000
Outstanding Mortgage: £182,000 (2.44% above BoE base rate tracker)
LHA Rent Allowance: £738.56
Mortgage BTL (Interest): £436.00
Monthly Profit: £302.56
Packaged Deal Price: £10,000 (All buyers and sellers legal fees inclusive)
Return on Investment: 36% in first year!
Reservation Fee: £250
To reserve this deal with potential for land developments (subject to obtaining planning permission) call Saddat on 07525207709 or email reservations@fastpropertysalenetwork.com stating the deal name (area) in the subject line.
Alternatively to reserve this deal instantly, please pay the £250.00 via the shop now after which the deal will be instantly removed.
Not sure if this deal is happening now - the packagers are looking for £10k, which is too hot for me.
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