Loan

Loan #571397 Commercial to Residential 10-Bed HMO Opportunity

Vastgoed locatie
Station Road Birmingham B27 6DN United Kingdom

Samenvatting

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.

Note from admin: since planning approval is expected to take another 3 months, we have lowered the minimum loan amount to € 250,000 which will cover the purchase of the property. All other loan terms remain as-is. 

Leningsovereenkomsten
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Betalingsvoorwaarden
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Aanvullende voorwaarden
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Zekerheid
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Hypotheek
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Aanvullende zekerheden
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Risico's
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Leningaanvraag
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Veelgestelde Vragen
Samenvatting van de leenvoorwaarden
  • Jaarlijkse rente 8.00%
  • Volgeschreven 267,800.00 opgehaald
  • Risicoklasse i
  • Vervalt Gesloten
  • Streefbedrag €350,000.00
  • Winstdeling 0.00%
  • Looptijd 18 Maanden
  • Betalingssnelheid 1 months
  • Doel lening Overbrugging
  • Type Bullet i
  • Hypotheek rang First Rank
  • Total Loan Cover (TLC) 100.0%
  • Loan To Value (LTV) 73.7% i
  • Locatie
    United Kingdom
Recente investeringen
  • 584391€100.002021-05-04 21:43:41
  • 584383€1,000.002021-05-04 20:25:25
  • 584371€100.002021-05-04 18:36:16
  • 584332€20,000.002021-05-04 12:47:57
  • 584296€400.002021-05-04 10:30:17
Documenten
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