Just doing my end of the week Right Move browsing and i have just come across a little Gem, Now this property is on the market for £110k but this will not be on the market for long.
The property is in Fearnhead, very close to the university campus and can easily be converted to a 6 bedroom Hmo, costs to convert this would be around £15k, we have had a similar investment come our way in the same area about 6 months ago and is operating successfully the only difference is that it was a 5 bedroom converted to a 7 bedroom. So using previous calculations i estimate that the total cost including the purchase price will be around £125,000.
This area brings in rent of £70 pw to £105 pw. you will be expected to achieve a 20% yield on this investment.
Don't hang around this will be snapped up very quickly. Get on the phone and arrange a viewing the property is on with Edwards Grounds, Culcheth.
http://www.rightmove.co.uk/property-for-sale/property-32696742.html
http://www.rightmove.co.uk/property-for-sale/property-32696742.html
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