In the heart of South Manchester, there’s a tale of transformation that’s turning heads and inspiring investors. Today, we pull back the curtains on Tom Butler’s remarkable journey, a story that speaks to the power of savvy investing in the ever-vibrant Manchester property market.
From Rough Diamond to Polished Gem
The story begins on Egerton Terrace, a popular location amongst students and young professionals nestled close to Fallowfield, a vibrant student village. Tom Butler, a long-time landlord and investor, spotted a golden opportunity. With guidance from the Philip James Investment Club, he purchased a property off-market and embarked on a bold renovation journey.
Initially, the property was scooped up for a cool £180,000, generating a respectable £750 PCM. While these figures might not sound groundbreaking, it’s the transformative power of investment and renovation that truly brought out the property’s potential. After injecting £25,000 into refurbishment, the house was no longer just a brick structure on Egerton Terrace – it had become a lucrative asset.
Post-renovation, the rental income rocketed to an astounding £1,800, bringing the gross yield to a whopping 10.54%. The refurbishment not only gave the property a new lease on life but also propelled it into a higher income bracket. The success story of Tom Butler underlines a key strategy for any aspiring investor: sometimes, you need to see beyond the present to realise future gains.
The Role of Location
Location, as any seasoned investor will tell you, plays an instrumental role in the success of property investment. With its proximity to Fallowfield, Egerton Terrace is a hit among students and young professionals, and it’s not hard to see why. The lively student village vibes and the promise of easy and reliable rent make this South Manchester spot an undeniable attraction. Even before the renovation, the property was a sure-fire winner thanks to its strategic location.
But a picture is worth a thousand words. Don’t just take our word for it; view the stunning transformation for yourself.
Before and after
The Philip James Advantage
While the importance of location and wise investment cannot be overstated, having a dedicated team to guide you through the process makes all the difference. Enter the Philip James Investment Club, the unseen hero behind this property success story. With exclusive access to investment properties before they hit the market, they’ve perfected the art of sourcing and managing properties that fit an investor’s unique needs.
“When working with Philip James, we can help you professionally manage your assets to ensure you maximise your rental returns”
And for Tom Butler, this has certainly been delivered.
Understanding the Manchester Rental Market
Tom’s story isn’t an isolated event; it’s a testament to the thriving Manchester rental market. A unique blend of supply and demand trends, along with solid rental growth, has created a fertile ground for similar success stories. The Manchester Lettings Market Update for July 2023 highlights strong yields, high capital growth, and unprecedented demand. It’s a compelling case for why now is an excellent time to be a landlord and investor in Manchester.
Securing Investments with Rent Guarantee
In a world of uncertainties, Philip James goes the extra mile to secure your investments. Their Rent Guarantee service ensures your rent is protected, even if a tenant defaults. For Tom, this service offered practical peace of mind, and collectively shields landlords’ rental income to the tune of £3.9m per annum.
In Conclusion
“Transforming Terraces into Treasures” isn’t just Tom Butler’s story; it can be your narrative too. Whether you’re a seasoned investor or a budding landlord, the potential of Manchester’s property market is hard to ignore. The city offers robust rental growth, a dynamic rental market, and the professional guidance of teams like Philip James.
In Tom Butler’s own words, “We have been working with Neil for years to build a profitable and successful portfolio. The team at Philip James now manage the letting of the property, so we can be hands off and find the next deal.”
Are you ready to write your own property success story in Manchester? Reach out to Philip James today and take the first step towards transforming terraces into your own treasures.