This month we invite Mark and Martin Pow of Property Pow Brothers who have just completed the Property Entrepreneur Program, and have just joined the Advanced program as well as the Mastermind group. They had the honour of being voted by their peers for The Deal of The Year and we will go behind the scenes on that deal.

Mark and Martin are both family men and based in the South West. They started investing about 15 years ago and now specialise in Commercial Conversions, Title Splits and large HMOs.

The office conversion was a large property, 965m2 and they agreed a purchase option subject to planning, which they obtained for 10 flats, 8 x 3 beds and 2 x 1 beds. Property investing is not without its challenges and we discuss how their Joint Venture and funding partners withdrew just before completion and how they managed to raise £400,000 in 24 hours as well as how they found their lease provider.

Here are the numbers:

10 bed HMO in the South West

Purchase Price: £620,000 (asking price £1m)

Total including purchase, conversion and finance: £1,767,000

Gross Development Value (GDV): £2,800,000

Equity: £100,000

Cashflow: £138,842 pa

Return on Capital Employed: 73% on £190,000

Success and failure are both very predictable.

I hope you enjoy.

Want to contact Mark or his guests?

www.thepropertybrokerage.co.uk

[email protected]

Mark & Martin Pow

[email protected]

http://www.powproperty.co.uk

07816407114

https://www.instagram.com/propertypowbrothers/

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