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CASE STUDIES
| Property Address |
3 Thornwood Avenue, Glasgow |
 |
| Date Purchased |
May 1999 |
| Purchase Price |
£29,000 |
| Mortgage Amount |
£25,000 |
| Monthly Repayments |
£100.00 |
| Rented From |
May 1999 - July 2006 |
| Monthly Rent |
£350.00 |
| Total Rent Received |
£29,000 approximately |
| Revalued at April 2005 |
£85,000 |
| Remortgaged July 2006 |
£60,000 |
| New Monthly Repayments |
£270.00 |
| Comments |
This property has trebled in value since its purchase in 1999. In the early period of ownership it was making a gross monthly profit of £250. Since its remortgage in July 2006 it is still making a profit of £80 per month but £31,000 of equity has been released which has been reinvested in other purchases.
A figure in excess of £25,000 in equity remains within this property. |
| Property Address |
112 Dumbarton Road, Glasgow |
 |
| Date Purchased |
December 2001 |
| Purchase Price |
£34,000 |
| Mortgage Amount |
£29,000 |
| Monthly Repayments |
£114.00 |
| Rented From |
January 2002 to July 2004 |
| Total Rent Received |
£10,500 |
| Flat Refurbished |
August 2004 - January 2005 |
| Refurbishment Costs |
£11,000 |
| Rented From |
February 2005 - present |
| Monthly Rent |
£450.00 |
| Remortgaged March 2005 |
£72,000 |
| New Monthly Repayments |
£315.00 |
| Current Value |
£105,000 |
| Comments |
This property has also trebled in value since 2001.
After allowing for the £11,000 renovation costs and the £34,000 purchase costs (total £45,000) £27,000 of equity was released to invest in further projects leaving a healthy £33,000 still in the property |
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