Check this out! This flat looks huge, and it’s in really nice condition, I would expect to be able to rent this out in the region of £900 pcm. The location is still good, these modern flats are always popular with the rental market.
http://www.rightmove.co.uk/property-for-sale/property-47365288.html
It’s on the market with an online estate agent, so you will need to call them rather than pop to their office if your interested. It’s on the market for £197,000, which in itself, doesn’t seem unreasonable, but if you can get a couple of thousand knocked off, it will always feel better!
Even if you do have to pay the asking price though, you are still looking at an annual return of 5.4%, which isn’t too shabby. This of course doesn’t take into account any service charges or ground rent etc, so make sure you do some research before jumping in feet first.
We helped one of our landlords negotiate a deal recently on a nice 2 bed property in Chelmsford, got it £10k under the asking price for him and he’s buying with a tenant in place, set to earn him just under a 5% return on his investment. If you would like any advise on how to negotiate a deal, or would just like a chat about where to invest, pop in and see me in our office on Duke Street
