Every property brings different opportunities and challenges. We would like to share the insight of the development with you. 
 
 
 
Project 
This property was purchased on the open market through an Estate Agent. The property industry was booming in the summer 2021, however we have secured the house at a discounted price. The purchase was completed in October 2021. The refurbishment took a 2,5 months. The property was fully rented before Christmas.  
 
 
Strategy 
The property was turned into a 4 bedroom house and each room is rented to the individual tenants. The main strategy is BRR (Buy-Refurbish-Rent). Thanks to the extensive refurbishment the value of the property has increased, however we decided not to refinance stright away. The property is located on a street with great links to the city centre and in a good proximity to some of the main employers in Bristol. 
 
 
 
Scope of refurbishment 
The property was in need of full refurbishment. In order to comply with the current electrical regulations it was necessary to partially rewire the house. The property benefits from an open plan new kitchen/diner, new floors, plastered and freshly painted walls, new bathroom and four good size bedrooms. The renovation also included creation of an additional bathroom in one of the rooms.  
 
 
Challenges 
This project went quite well, without any major delays and obstacles. The only thing that we have not taken into consideration, was the increasing prices of the building materials. As a result we have significantly exceeded the budget. 
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