Andy Strong had two unencumbered HMO Properties in the UK worth approximately £600,000 let out per room. Each property had 6 rooms and each had a total income of £2,400 per month.
Out of this he paid all the bills including – heating, water, electric, Broadband and Council tax. His gross yearly income if all the rooms were let(remember there were 12 rooms in total, so this was not always the case) was £57,600.
After a trip to US, Andy decided to refinance these properties at 65% loan to value and raised £390,000. He then placed this money into 7 properties in our project. These properties on completion are worth between £500,000 and £550,000 and the gross yearly rental income across these US properties is £81,900. Total Gross yearly revenue of £139,500.
The benefit of Andy investing this money into the Rycal project as he said is "I don’t have to worry about managing each individual room and can have more spare time to live a better lifestyle. More money less problems."
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