{"id":21735,"date":"2024-03-13T09:00:51","date_gmt":"2024-03-13T09:00:51","guid":{"rendered":"https:\/\/www.franchiselocal.co.uk\/news\/?p=21735"},"modified":"2024-03-06T08:29:54","modified_gmt":"2024-03-06T08:29:54","slug":"daves-journey-to-making-6-figures","status":"publish","type":"post","link":"https:\/\/www.franchiselocal.co.uk\/news\/daves-journey-to-making-6-figures\/","title":{"rendered":"Dave&#8217;s journey to making 6-figures!"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">minute<\/span><\/span><p>Meet Dave, an electrical contractor from Yorkshire, who, like many others, dreamed of entering the property market but lacked the necessary support and funding to make his dreams a reality.<\/p>\n<p>That&#8217;s when he discovered Sourced. With expert guidance, ongoing property training, and access to funding, he&#8217;s now got two projects on the go set to make him a 6-figure profit.<\/p>\n<p>Here&#8217;s a look at how he achieved this success by utilising our exclusive in-house lending platform&#8230;<\/p>\n<p><strong>Project 1: Full House Refurbishment<\/strong><\/p>\n<p>Dave discovered the Far View project, a detached 4-bedroom property, about 14 months ago and managed to negotiate a good price. He is now transforming the property by completing a full refurbishment, converting it into a 6-bedroom home and adding two more bathrooms.<\/p>\n<p><strong>Financials: <\/strong><\/p>\n<ul>\n<li>Loan Amount: \u00a3460,000<\/li>\n<li>Purchase Price: \u00a3265,000<\/li>\n<li>Build Cost: \u00a3186,000 + Contingency<\/li>\n<li>GDV: \u00a3700,000<\/li>\n<\/ul>\n<p>This project will make Dave an impressive six-figure profit.<\/p>\n<p><strong>Project 2: Dragon Parade Development<\/strong><\/p>\n<p>Purchased in November, this property originally comprised of three apartments. Dave&#8217;s undergoing a transformation to turn it into an 8-bedroom HMO (House in Multiple Occupation), including developing the basement.<\/p>\n<p><strong>Financials: <\/strong><\/p>\n<ul>\n<li>Loan Amount: \u00a3575,000<\/li>\n<li>Build Cost: \u00a3250,000<\/li>\n<li>Expected GDV: \u00a3860,000<\/li>\n<li>The project aims for a monthly gross income of approximately \u00a36,500, with a net of around \u00a33,000.<\/li>\n<\/ul>\n<p>Keen to follow in Dave\u2019s footsteps? Get in touch to learn more about our unique franchise opportunity.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Meet Dave, an electrical contractor from Yorkshire, who, like many others, dreamed of entering the property market but lacked the necessary support and funding to make his dreams a reality. That&#8217;s when he discovered Sourced. With expert guidance, ongoing property training, and access to funding, he&#8217;s now got two projects on the go set to [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":21736,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[930,929],"tags":[],"class_list":["post-21735","post","type-post","status-publish","format-standard","has-post-thumbnail","category-sourced","category-investment-franchises"],"acf":[],"jetpack_featured_media_url":"https:\/\/www.franchiselocal.co.uk\/news\/wp-content\/uploads\/2024\/03\/Picture3-2.png","_links":{"self":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/21735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/comments?post=21735"}],"version-history":[{"count":0,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/posts\/21735\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media\/21736"}],"wp:attachment":[{"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/media?parent=21735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/categories?post=21735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.franchiselocal.co.uk\/news\/wp-json\/wp\/v2\/tags?post=21735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}