Monday, 13 October 2014

Farringdon 2 Bedroom "Doer-Upper" (+7% Gross Yield)

This 2 bedroom semi is being advertised without internal pics and according to the Estate Agent is 'In Need of Updating' so that should tell you something...that said, at £65,000 it could still be worth a look

Assuming that you need a new kitchen and bathroom and full decoration & flooring throughout it would still bring the total investment in at around £80k, so based on £475pcm would deliver over 7% Gross Yield...obviously if you can strike a deal or the cost of improvements is not as bad as expected, so much the better

Interestingly, no properties have sold on this street between December 2007 and March 2014 and the recent sale (of a 2 bedroom semi) was £77,000 and prior to the crash they all seemed to achieve between £75k and £80k

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