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Good afternoon,

I hope you don't mind me reaching out for some advice. First time investor here so please go easy on me :)

I have around £100k to invest in a cash purchase but I'm still unsure whether to go for a property of around £100k and recycle the money 6 months later with a BTL mortgage or to buy two smaller 2 bed BTL properties worth a much lower price "up North".

I am interested in the following (BMV?) deal in Burnley BB11 as a cash purchase with a view to mortgage it at 75% at the earliest possible stage. Comparable sales (2019/2020) in the area were between £97.5k - £110k. I am in the process of doing my own due diligence but I would appreciate your views.

Looking at the figures below, the Solicitor / Conveyancing fees appear a little low. It appears maintenance & repair fees aren't built in either?

Many thanks,

Tom

BB11.JPG.8e6a114105ba98a35188c09056f1ca48.JPG    
 
Contingency @ 20%    
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