A 🦄 deal + a win for Commercial Landlords

I found a 🦄 for a client… Seriously. This is a 1 commercial unit, 3 studio apartment property in Helston, Cornwall. Purchased for £230,000 with 2.5 weeks between offering and completion. A leaseback was done with the seller who continues to occupy the commercial unit for the next 2.5 years on a full repairing and insuring lease for £7,800per annum. On completion, worth £340,000 with £2,220pcm coming in from the four units. Yes it was purchased in cash and it will be refinanced through investor finance (who will lend £230,000 with a first charge against the property) at circa 7% per annum so its 100% cash out within… roughly 1 month 🤯 You want to know how? You’re going to have to listen to the podcast! PLUS, you're invited to our LIVE webinar happening on Tuesday the 23rd August at 19h00 BST. The topic of the webinar is "How to Supercharge your Property Portfolio through buying Commercial Property…without jumping on the Commercial to Residential conversion bandwagon".  Sign up to join the webinar here: https://ncrealestate.co.uk/august2022/