Good afternoon readers, if you take a look at some previous blog posts i have wrote about streets that rent well in Warrington - Wellfield Street is one of them top rental streets (click here)
The property i have found on my rightmove travels is one for sale on Wellfield Street (whitecross) The house is on the market for £69,950 however it is tired and in need of a refurb (new kitchen, fresh paint job, new flooring in certain rooms) I estimate around £3000 max to get this done to a good standard. Just bare in mind that the average price of property on this particular street is £84,465.
The property will rent for around £475 to £495 pcm. So going of the sale price + the refurb cost you are looking to achieve 7.8% yield if it was to let for £475 pcm. Pretty good ROI. Much better than letting your money sit tight in the bank.
If you are thinking of getting into the property rental market and don't know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01925 235 335 or pop along and speak to us in person at our office at 6 Bankside, Crosfield Street, you can always email me on manoj@hamletwarrington.co.uk
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