5.6% Yield in Springfield, Chelmsford…

Good afternoon everyone, taken me a bit loner to get today’s blog out into the stratosphere today, been a very busy Monday, but I couldn’t let the day go past without blogging this property out there.

This looks to be a nice and tidy property, well presented and looked after as well. All important factors for when someone is looking for a property.
http://www.rightmove.co.uk/property-for-sale/property-57528761.html

There may be a fairly short lease on this apartment however, so make sure you make inquiries into lease extensions and how much it would cost to do this. It;s not something you would need to do straight away, get some rental income in first and then when you come to sell it, extend the lease then so that you can maximise the selling price.

The asking price of this property is £150,000. When you consider that 2 bedroom apartments in the Springfield area can rent for around £700 easily, you could be looking at an annual yield of 5.6%.

This property wont be around for long, there will be others as well that have spotted the potential.

Also, if you fancy picking my brains at all over a coffee, pop in and we can have a chat, our office is on Duke Street

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