So, after 7 rental properties purchased, I took a break. I felt that rising house prices and not much on the market meant the deals were not as easy to find. But the main reason is that I had been too busy with my full time job.
In hindsight, I wish I had bought more, but I can’t change that now.
Since I started in 2014, I have bought just over 1 property per year before I stopped, and now in 2023, prices have risen considerably.
Here is the updated summary, showing the estimated rise in prices. The portfolio value is now up to £920K from £635K, giving £444K of equity.
| Type | Purchase Price | Current Value | Deposit | Rent | ROI | Cashflow | |
|---|---|---|---|---|---|---|---|
| Property 1 | 2 bed semi | 105K | 160K | £26,250 | £595 | 13.6% | + £298 |
| Property 2 | 3 bed detatched | 125K | 195K | £31,250 | £650 | 8.54% | + £305 |
| Property 3 | 2 bed semi | 90K | 130K | £22,500 | £525 | 16.5% | + £309 |
| Property 4 | 2 bed semi | 96K | 130K | £24,000 | £595 | 15.7% | + £314 |
| Property 5 | 2 bed terraced | 55K | 90K | £6,250 | £450 | 49% | + £257 |
| Property 6 | 2 bed apartment | 72K | 95K | £18,000 | £550 | 14.9% | + £224 |
| Property 7 | 2 bed house | 92K | 120K | £23,000 | £550 | 14.7% | + £282 |
| Total | £635K | £920K | £151,250 | 15.7% avg | + £1989 pcm |
As all of the mortgages were interest only, the mortgage is the same at £476,250, and with a value of £920,000 this means the average LTV is now 51.7%.
It wont be long before the properties have increased in value to hit the £1 Million portfolio mark.
Property Seeds 