Project Moston
Where the Snowball Started
Project Moston was my first Buy-to-Let investment and the project where I truly saw the power of property investment executed with a clear strategy. The property was purchased in 2020 using a Buy-to-Let mortgage for £100,000, following a period of living frugally in Abu Dhabi to build the initial capital required to enter the UK market. A light refurbishment of approximately £20,000 was carried out to modernise the property and improve its rental appeal, while maintaining a disciplined approach to capital expenditure. Following the works, the property was revalued at £180,000, allowing me to remortgage, recycle my original capital, and use that momentum to begin building the portfolio that followed. The property is now let to a long-term tenant at £900 per calendar month, providing stable, low-friction income while the capital has been redeployed into further projects. This deal established the core blueprint that still underpins the portfolio today: buy well, add value, refinance, and hold for the long term.
The Numbers
Purchase Price (Cash): £100,000
Refurbishment Cost: £20,000
Total Project Cost: £120,000
Post-Refurb Valuation: £180,000
Refinance at 75% Loan-to-Value (after ~6 months):
→ £135,000 mortgageMonthly Rent: £900
Annual Rent: £10,800
Post-Refinance Return on Capital
Following the refinance at 75% Loan-to-Value on a valuation of £180,000, a total of £135,000 was released. This fully repaid the original capital invested and released additional funds, meaning there is no original capital remaining in the deal.
The property has been retained within the portfolio and continues to generate £900 per calendar month (£10,800 per year) in rental income.
With no capital remaining in the property post-refinance, the asset now produces ongoing income on fully recycled capital, demonstrating the effectiveness of the Buy, Refurbish, Refinance strategy when executed with discipline.
