We’re halfway through the week now and I have spotted another property that is worth some thought if you are looking to buy to let. Yield wise, this property really stacks up for investment purposes as it could potentially give you an annual return of 6%. This is based on a rental price of £725 pcm and purchase price of £145k.
Buying to let though, isn’t just about the highest yield that you can get, there are other factors to take into consideration, which is where this property will make you think. The area, albeit not as made as it is made to sound, has got a stigma attached to it. This could hinder finding a tenant in a quick smart fashion. Although if enough time is allowed to find a new tenant once you have notice in from the previous tenant you should be fine. But don’t be surprised if people discount it because the area isn’t as posh as some others.
If you would like some more advice on where (or where not) to buy, drop me a line at stephen.frost@martinco.com
