394 - Deals Deals Deals with Mark Barrett & Tom Appleton

# £715k Equity and £43k Projected Annual Cashflow: Tom Appleton's Deal of the Year

Tom Appleton returns for his third appearance to share the Wakefield HMO project voted "Deal of the Year by his peers on the Property Entrepreneur board in September", his second consecutive win.

After agreeing the purchase in 2023, Tom waited two years for vacant possession before transforming a tired property into 12 spacious, high-spec studio-style HMO rooms. With total project costs of approximately £725,000 and an achieved valuation of £1.44 million, it's a deal that demonstrates the value of persistence, local relationships and a strong team.

Tom explains how he found the opportunity, funded the purchase and refurbishment, and created accommodation attracting professional tenants, including doctors and nurses.

The deal in numbers

- Purchase price: £340,000

- Purchase and associated costs: approximately £30,000

- Refurbishment: £325,000

- Total project costs, including finance approximately £725,000

- Achieved valuation: £1.44 million

- Value created: approximately £715,000

- Gross rental income: £11,040 per month