04/07/2026
๐๐ ๐ฐ๐๐ซ๐ ๐ฌ๐ฎ๐๐๐๐ฌ๐ฌ๐๐ฎ๐ฅ. ๐
Another property added to our portfolio.
This deal is slightly different to the others as it already has a sitting tenant in place.
A valuable tip from someone in our network helped us negotiate the auction terms, as this one sat outside the standard auction rates.
Thatโs why your network matters,with a property at auction, you can only do so much due diligence.
- You search online.
- You check the legal pack.
- You look at the area.
You walk around externally and look at the condition of the property structurally.
Then you have to make a calculated decision.
Now we go again.
Day 1, we apply for a buy-to-let mortgage at 75% LTV.
Once that lands, we pay off the bridge.
That should leave around ยฃ20k of our own capital in the deal.
Over 5 years, based on the numbers, we should have around ยฃ33.5k in equity, yearly rental profit and hopefully long-term capital growth.
Property isnโt a quick cash scheme.
Itโs about buying properly, understanding the numbers and being patient.
Onto the next one.
BRR GreaterManchester LandlordLife PropertyJourney
