Loan

Loan #571397 Commercial to Residential 10-Bed HMO Opportunity

Property location
Station Road Birmingham B27 6DN United Kingdom

Executive Summary

As a professional landlord and investor, Micky Singh has identified a project which lends itself to a great opportunity for providing high quality and affordable shared housing in the format of a 10-Bedroom high end HMO. 

Micky has extensive experience of property purchasing, below market value deals, rental prospects, refurbishment and refinance. WIth a large and diverse self-made personal portfolio, this is an opportunity to work together on our first venture and hopefully open doors with an aspiring investor/developer that will undoubtedly present bigger and better projects in due course.

The opportunity here is currently a detached commercial property and the intention is to convert from office use to residential use in order to provide an asset which provides a great financial uplift and a long term investment vehicle. Should the 10-bedroom HMO proposal be deemed unsuitable (with consideration to planning permission), then a number alternative exit routes are available including a family dwelling, multiple apartment dwellings or even refurbished commercial premises/offices. This therefore provides reassurance as a change of use is not deemed essential in order for the deal to financially stack.

Micky is seeking a working relationship with MaxCrowdFund as a bridging facility for a more personal and rewarding experience (as an alternative to bridging lenders/more popular crowd funders) to raise the purchase and refurbish costs for this project. The estimated time for completion is expected to be 12-18 months, after which the exit will be to refinance the property via a commercial buy-to-let mortgage.

Loan terms
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Payment terms
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Additional terms
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Collateral
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Mortgage
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Additional securities
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Risks
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Fundraiser
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Investing FAQ
Loan terms summary
  • Interest per annum 8.00%
  • 18.9% invested by 41 investor(s) 284,000.00 left
  • Risk class i
  • Expires 22 day(s) left
  • Target amount €350,000.00
  • Profit share 0.00%
  • Term 18 Months
  • Payment frequency 1 months
  • Loan purpose Bridging
  • Type Bullet i
  • Total Loan Cover (TLC) 100.0%
  • Loan To Value (LTV) 73.7% i
  • Location
    United Kingdom
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Documents
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