Good Afternoon, I hope everyone has something good planned for the weekend.
We are at the end of another week and I am up to my old tricks and surfing Rightmove daily to see what great buys are out there. This morning I spotted this one, on the market with Lloyds for £64,000.
http://www.rightmove.co.uk/property-for-sale/property-47575424.html
There are a few houses that have come to the market just like this in the last few months, I don't think there is anything onerous about it, I believe it is just a sign of the market, where prices have been steadily climbing thereby allowing people to move onwards and upwards, that may have not been able to previously.
As there are a few properties available to buy in this area, it means that prices are becoming quite competitive now, I think that £64k is quite a good price for this one as it also looks like it is in pretty good condition too. It probably needs about £5k putting into it to get it back up to a lettable standard.
From a rental perspective, I would expect to achieve in the region of £495 pcm for this type of house, which based on the current asking price would produce you a very healthy gross yield of 8.6%. Not to bad especially if you can get some money knocked of the asking price
If you have any questions at all about Buying a property to let, please do not hesitate to get in touch. tpatel@hamlethomesproperty.co.uk
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