Wednesday, 10 December 2014

Worth a Look At This Auction 3 Bedroom Terrace (Possible 6.5% Gross Yield?)

This 3 bedroom terrace is included in the Agents Property Auction on January 26th and may be worth a look for those investors happy to undertake refurbishment prior to letting

The guide price is £64,950 but given the average selling price of 3 bedroom properties on this street last year was £115,000 you should budget for significantly more than the guide price

What's more, it needs a full refurb throughout (new kitchen, bathroom, decoration & flooring) and you'd be advised to check out the electrics before commencing  

Working backwards from achieving 6.5% Gross Yield with an achievable rent of £595pcm, you'd need to pay no more than £90,000 and and spend no more than a further £20,000 on rennovations - if you can get it for less or reduce the rennovation budget then you'd get an even better Yield

Click here for details 

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