28 Westfield Road is a Terraced property comprising of 3 Bedrooms, 1 family bathroom, 2 reception rooms and garden.
The property has been secured using an Option Agreement, at a purchase price of £227,127 - which is 19% below the
projected market value of £280,000. The property requires a modest refurbishment of £20,000 to achieve an expected
monthly rent of £1,100 (a gross rental yield of 4.76% per annum).
Investors will receive 100% of the net rental income (after deducting for mortgage interest payments, managing fees
and maintenance costs) which means a very attractive projected yield on investment of 6.03% per annum.
The property is in a residential area and has good proximity to transport links to the District Line (Dagenham Heathway)
and Overground and National Rail (Barking) meaning it has good rental and growth potential.
This strategy involves an Option Agreement, which means the amount of Investor funds will be the difference between
the total acquisition cost and the seller's existing mortgage on the property. Develop with Us take over the seller's mortgage with an Option contract drafted by a specialist property lawyer. Once the property value reaches the Investment Trigger Value (where the property value has increased by 100% in relation to the total acquisition costs after the deduction of sales costs), the property will be sold and upon completion the sale profits will be split 50/50 between Develop with Us and the Investors.
100% of the rental income after all running costs are paid to the Investors. This income will be subject to the individual's personal tax regime (please seek advice from a tax expert).