Are you looking for lucrative investment opportunities that can generate a steady stream of passive income?
Investing in property has always been a popular choice for many, but with so many options out there, it can be tough to know where to start.
In this case study, we’ll shine a spotlight on another investment strategy we offer for those with high capital to invest but want a hands-off approach and complete project management from Prism Properties.
As we provide complete project management, our investors are not required to have any property investment experience at all!
Fortunately, the investor for our Nunsgate project had worked with us before so already knew what to expect with our service. This investor prefers to take a back seat and not have to give much time and attention to the project.
By connecting our investors with the right projects, we help to ensure that we’re able to make the most of their capital investment.
Our process involves thorough research of new potential projects and this one was no different – we identified a renovation project which is in an excellent, sought after area of Thetford, near the Little Ouse River.
As our investor had a large lump sum ready to invest with, we chose this property as an easy win with a quick return of investment.
This property in Nunsgate boasted three bedrooms and good-sized garden, but needed extensive renovation works in order to provide our investor with the best returns.
We packaged this project with estimates on works required and what we foresee that the property would sell for once complete.
Our investor provided all the funds for the project, which amounted to £230,000 after solicitor and stamp duty fees. We estimated to provide a full renovation would require a further £50,000, which once complete would put the property in the £315-£350k price range.
The terms of the sale would ensure that the investor and Prism Properties would receive a 50% share of the profit from the proceeds of the sale.
Check out some of the before pictures below:
This project was simple in the sense that we knew what was required – everything inside the property from kitchen units to the bathroom units, to carpets to the windows had to go.
Externally, the property required a clean-up and we replaced the grass at the front with shingling which created extra room for parking. We removed a tired looking shed/outbuilding and replaced this with a new secure unit, while landscaping the back garden so the new owners could put their own personal stamp on it.
Internally, the plumbing and electrics were updated, and a modern kitchen and bathroom installed. We took care of sourcing tradesmen, materials and parts and our investor didn’t need nor want any input on the refurbishment of the project.
Check out some of the internal photos below:
We managed to complete the whole refurbishment of the property and get it to market within 4 months!
We were ahead of schedule with this project and would have been able to return the investment to our investor early had it not been for multiple chain-breakdowns and fall-throughs from the buying side.
We did sell this property in the end for £326,000, which after fees and the profit split gave our investors a whopping £19,848 worth of profit – for just a few hours of input at the beginning of our investment journey!
There really aren’t many places where you’ll receive this return of investment with such little work involved, so if you’re interested in increasing your savings give us a call and we’ll be able to match you with our next project!
If you wish to receive more information on getting started with property investment with us fill in this form and we’ll be in touch