Happy Friday everyone, thought I’d end the week with a little ready made investment. This 2 bed apartment has the benefit of being sold with a tenant in place. The tenancy that is in place is up till February 2016, It would be worth inquiring as to whether the tenants are looking to stay longer than this.
Condition wise, the property looks fairly good, hopefully minimal maintenance needed.
http://www.rightmove.co.uk/property-for-sale/property-55083902.html
Beresfords have just listed this property with an asking price of £165,000, which doesn;t seem too unrealistic. The tenants that are there are currently paying £700 pcm. This could generate you a gross yield of 5% straight away. When it comes up to renewal, you could potentially put the rent up to £725, which would increase your return to 5.2%… every little helps.
There are many more properties out there coming to market, which would be a suitable buy to let investment, but I can;t highlight them all! If you see a property that you like and would like some advice on it suitability for a rental property, e-mail me the link over and I will give you my honest opinion. [email protected]
