Llanelli Modern Method of Auction for £21k flip profit!
Llanelli Modern Method of Auction for £21k flip profit!
This property offers a fantastic opportunity for investors pursuing either a Buy-to-Let or a flip strategy. It is currently available through the Modern Method of Auction, reflecting its present condition. The property does need an extensive renovation, which fits in perfectly with our build capacity and strategy!
The good news? This type of project fits perfectly with our skill set and experience, making it an ideal candidate for a profitable turnaround.
Key Details
Purchase Price: £74,000
Renovation Costs: £45,000
Estimated End Value: £160,000
Investment Potential
Projected Flip Profit: £21,003
Buy-to-Let Cash Flow: £220 per month
Property Investment Opportunity – Llanelli
We’re excited to introduce a fantastic investment prospect in the heart of Llanelli. This property, situated in a quiet and desirable residential area, offers significant potential for those looking to renovate and either resell or rent out for strong returns.
Currently listed at £80,000, we are confident—thanks to our network and experience—that an offer of £74,000 would likely be accepted.
Key Features
Location: Llanelli – peaceful setting with excellent local amenities.
Condition: Requires a full renovation, starting with an external re-render to improve curb appeal dramatically.
Auction Details: Available through the Modern Method of Auction, providing a 28-day completion window—ideal for investors who act quickly.
Why This Opportunity Stands Out
Although the renovation is extensive, it is well within our capabilities and budget. We’ve allocated a generous refurbishment allowance to ensure the property is transformed to a high standard, ready for resale or rental. For savvy investors comfortable with auction purchases and renovation projects, this is a prime chance to secure a property with strong upside potential.
Number of Bedrooms (current): 3
Is there potential to add a bedroom?: No
Reception Rooms: 1
Bathrooms/shower-rooms: 1
Property Asking Price: £80,000 Starting Bid
Agreed Sale Price: £74,000
Fair Market Value (DUV): £160,000
Comparable 1: Sold £140,000: https://www.rightmove.co.uk/house-prices/details/0d114005-2807-4c1a-8450-77daef1ad325
Comparable 2: Sold £220,000: https://www.rightmove.co.uk/house-prices/details/89ee10db-e895-4350-8a28-7dd76f65abe8
Comparable 3: Sold £170,000: https://www.rightmove.co.uk/house-prices/details/b0a780cb-18d7-4999-8bb5-24e540afbe3d
Comparable 4: Sold £155,000: https://www.rightmove.co.uk/house-prices/details/469fd1cd-6bf6-40ad-86c5-e0c28e13c431
Comparable 5: Sold STC £165,000: https://www.rightmove.co.uk/properties/168560522#/?channel=RES_BUY
Comparable 6: Sold STC £170,000: https://www.rightmove.co.uk/properties/151907951#/?channel=RES_BUY
Comparable 7: Sold STC £140,000: https://www.rightmove.co.uk/properties/165545636#/?channel=RES_BUY
Market Status: Sale Secured by Sourcing Agent
Why is the property being sold?: Distressed Seller
Is the property in a lettable condition? No
Is the sale price negotiable?: Yes
Property Type: House
Freehold or Leasehold: Freehold
Is the property part of portfolio?: Unknown
Exit Strategy 1: BTL
Exit Strategy 2: Cash Purchase Flip (or bridge)
Exit Strategy 3: Capital Growth
Potential Target Demographic: Families and young professionals or social housing.
Renovation Schedule & Budget – £45,000
1. Initial Inspection, Rip-Out & Preparation
Comprehensive property assessment and diagnosis
Full strip-out and site preparation for renovation
2. External Re-Render
Complete external rendering to enhance curb appeal and protect the structure
3. First Fix Plumbing & Electrics
Install all essential pipework and electrical wiring
4. Insulation & Boarding
Fit insulation throughout the property
Complete wall and ceiling boarding
5. Plastering
Smooth plaster finish across all internal surfaces
6. Kitchen & Bathroom Installation
Install modern kitchen units and appliances
Fit bathroom suite and fixtures
7. Woodwork
Skirting boards, doors, architraves, and trims
8. Second Fix Plumbing & Electrics
Final plumbing and electrical connections
9. Painting & Decorating
Full interior painting and decorative finishes
10. Flooring
Lay carpets and hard flooring throughout
11. Garden Presentation
Landscaping and presentation of front and rear gardens
12. Certification
Electrical and plumbing works are certified and guaranteed
Project Management Option
Tiger Burrows Projects offers full hands-off project management for 10% of the build cost.
Once the investor confirms they wish to proceed, a fixed quote will be obtained to validate renovation costs.
BTL Figures:
Purchase Price: £74,000
Refurb Costs: £45,000
Legal Costs: £1600 + £7000 buyers premuim and auction fees = £8600
Stamp Duty: £3700
Survey: £450
Tiger Burrows Consultation Fee's: £2997
Estimated Rental Income: £900
New Mortgage (5%): £500
Stress Test Mortgage (6%): £600
Estate Agent Rates: £90
MOE: £90
Cash Flow Most Likely: £220
Cash Flow Stress Test: £120
Flip Figures:
Purchase Price: £74,000
Refurb Costs: £45,000
Entry Legal Costs: £1600 + £7000 buyers premuim and auction fees = £8600
Exit Legal Costs: £1000
Stamp Duty: £3700
Survey Costs: £450
Tiger Burrows Consultation Fee: £2997
Estimated 6 months bills costs: £750
Estate Agent Selling Fees: £2500
Total Costs for investor: £138,997.00
Re-sale price (DUV): £160,000
Potential Profit: £21,003