Iltyd Street, Treorchy
South WalesFlipped!
Iltyd Street, Treorchy
Purchase price: £84,000
Refurbishments: £27,000
Done Up Value: £135,000 (2019) £162,000 (2022)
Current rental income: £625 pcm
We purchased this property as a buy to let in January 2019 with the initial view to flip it.
We actually ended up renting it on a short term basis to a family of four. However, with a combination of covid and a tenant change of personality – we ended up with a family of four troublesome tenants who took 18 months to vacate the property, meaning we lost a buyer in the process.
Sometimes things happen for a reason and agreeing on a sale of £145,000 in 2021 we were happy with, after our tenant ‘issues’ that buyer unfortunately dropped out but we then ended up selling it for £162,000 in 2022!
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