Monday, 2 November 2015

Check out the Yield and Capital in this Warrington Terrace 9.6%

Good Afternoon readers - I know the deal have not been as frequent however thats about to change, I will be posting 2 deals of the week every week. To start it off take a look at this GEM of a property.

On the market at £50k which is a steal, the location is extremely popular for renters, this is due to a selection of local schools in walking distance from each other, town centre is also a 10 minute stroll.

Anyway let's get to the nitty gritty, as I know the void on a property in this area is very low and you will get the pick of a lot of enquiries.

This is a very big 2 bedroom terraced, not just your usual two up two down. It has two reception rooms and a large kitchen to the rear. What I usually find with these properties are the bathroom tends to be downstairs and right at the back of the house which can put a lot of people off however in this case the bathroom is upstairs, as well as an extra toilet room.

As you can see from the photographs this will need a full refurb - I estimate around £10k-£15k will need to be spent on this, It may need be a case of taking it back to brick and starting again with the electrics and plumbing. So you will be looking closer to the £15k it may even be slightly more.

I believe if this refurb is done correctly then the property will achieve around £525 pcm  so if we use the figure of £15k refurb cost then you can achieving a yield of 9.6%

Take a look at another property on the same street which is very similar in terms of size and layout although there bathroom is downstairs. Sold for £120k earlier this year. This shows you that even if you spent a good £20k on getting this property to a high standard not only are you going to achieve great yields you will also achieve good capital growth.

This is a no brainer. Give the agents a call and arrange a viewing. Remember im always here to share my knowledge, if you would like me to pop along on the viewings to do my own pricing on what i think needs doing and what i think it will cost then feel free to give me a call on 01925 235 338 or drop me an email on sometimes an extra set of eyes will spot something you may have missed. I will always give you my honest opinion whether thats good news or bad news. 

No comments:

Post a Comment