Hello Everyone, did you all have a good time over the weekend? It’s a shame they go so fast!
Today I have a great property with a potentially good annual yield, so here’s something to get you over your Monday blues!
The house, advertised by our very good friends Bairstow Eves on Rightmove.co.uk is located in Dordon. This 3 bedroom terrace would be fantastic for families. The current owner is asking for offers over £110,000, however the house would be in dire need of modernisation due to it’s dated interior.The good news is there is no upward chain, so there would be minimal waiting time on acquiring the property and making it work for you!
I would estimate around £6000 tops would be required to get the property to a good standard. From the pictures it looks like you could possibly get away with painting the bathroom and adding a new cabinet as it looks fairly new.
I would expect the house to achieve a monthly rental income of £625, which if you purchased for the asking price of £110,000 and allocated £6000 for renovations, you would receive a healthy annual yield of 6.46%
Get the best advice and opinion you can. Speak to me, speak to others, do your homework. As long as landlords buy the right sort of property, that allows for a reasonable yield, decent capital growth, everyone will be a happy winner.
If you would like to contact me about any of the featured properties or any other property investment you might be thinking of, please feel free to contact Lorraine on 07531484956.
The property can be found in full at the following address: