Year:

2023

This was our first buy-to-let investment. We purchased it for £140,000 in January 2020. After its complete refurbishment, we had it valued and remortgaged at £200,000 in 2021.

We initially acquired it through a bridge loan, conducted the refurbishment, and then remortgaged it, effectively recycling our deposit. This strategy is known as the BRR (Buy, Refurbish, Refinance) strategy.

We continue to own the property and receive a rental income of £895 per month. Our mortgage is interest-only at £282 per month, generating a monthly profit of £613.

Monthly Profit: £613