Friday, 27 November 2015

Cash Buyers Only! Bargain Basement Seaham 2 Bedroom Terrace (12% Gross Yield)

This 2 bedroom terrace in Seaham is being sold at auction on 14th December with a tempting Guide Price of £26,000 that will get a lot of interest from investors

It does need work prior to letting but it looks to be mostly cosmetic and should be achievable for no more than £5,000

The three most recent sales on this street sold this year for £38,000, £28,250 and £32,000 respectively so assuming you don't get carried away at the auction and spend no more than £40,000 in total (purchase price plus refurb) it will return 12% Gross Yield

This street will attract a mix of both working and non-working tenants but assuming the property is improved to a good standard then attracting a good working tenant shouldn't be an issue

Click here for details it's being sold by Kimmitt and Roberts at the Agents Property Auction so contact them for details or to arrange a viewing

Call me if you would like to have a chat about this property or investing in Seaham or Sunderland - call 0191 567 8577 or email

Thursday, 26 November 2015

Another 'Flipping' George Osborne Blow For Sunderland Investors?

Yesterday's Autumn Statement announcement of 3% stamp duty being applied to BTL properties from April 2016 followed the recent trend of George Osborne giving Landlords and Investors a kicking, in what is clearly becoming evident as a deliberate government policy to force Landlords with small portfolios out of the industry and make way for large institutional investors to fill the vacuum...

Look at the various Landlord and Investor forums on the Internet and there's lots of panic-mongers claiming that the world is about to end as a result of this, however on closer inspection it's clearly not good news for Investors but it may not be quite as bad as first appears...if you take a long term view

The stamp duty does not apply to BTL properties valued at under £40,000 but for those valued at £40,000 to £125,000 the 3% duty applies, with higher values for higher properties (that really won't affect Sunderland investors much!)

There's still a degree of vagueness about the details of the announcement but it would appear that 'Professional Landlords', which seems to be those with over 15 properties, would not have this Stamp Duty applied!

Properties valued at £125,000 to £250,000 will have the additional 3% applied on top of the standard 2% stamp duty applied to all properties within this band, making 5% stamp duty payable in total

Looking at this from a Sunderland perspective, most investors buying to keep and rent out will be buying under the £125,000 threshold (unless they are buying HMO's)

Most Sunderland BTL properties are priced in the range of £60k - £90k so taking the average of £75,000 that will generate a £2,250 Stamp Duty bill

That's £2,250 onto the price you'll pay and therefore £2,250 from the profits you can make (unless you pass it on)

Looking at this from a short term perspective it will cause a 7.9% Gross Yield (based on buying at £75k and renting out at £495pcm) to fall to 7.7%

That's still a good investment compared to many other forms of investment and I'd argue you'd not notice the 0.2% difference, especially in the long term

Take the long term view and amortise that £2,250 across the average length of time a BTL property is held (let's say 10 years for sake of argument but it could be double that) and that's £225 a year or less than £20 a month

You'd pay a much higher amount for properties over the £125,000 threshold but given most in Sunderland at that price bracket are likely to be HMO's the return from such properties will be so much greater that it will minimise the impact to again barely-noticeable levels over the long term

It will certainly make things interesting for those looking to buy Below Market Value properties especially for those searching for properties with a market value of around £50,000 - £60,000 

I imagine there'll be a lot of £39,999 BMV offers being made in the future and joking aside it may have more of a negative impact on those distressed sellers with low value properties than it does to the potential buyers

Infact, this could have a positive impact on areas such as Sunderland where it is possible to invest in a decent property for less than the £125,000 threshold where stamp duty steps up to 5% in total

It will be interesting to see if there is a stampede for investors looking to buy before this is applied in April 2016...which could make an interesting start to the year!

I do think that it could have more of a negative impact on those looking to Buy to Sell ('Flip') properties in Sunderland

I say this as clearly the stamp duty won't be able to be absorbed over the long term and as suggested on an earlier post (Why Are There So Few 'Flipping' Good Property Deals In Sunderland?) it may be necessary to initially pay more for a larger property to Flip to enable sufficient value to be added to make it worthwhile - your standard £60k - £90k Buy to Lets aren't likely to increase in value enough in the short term to make profitable Flip, you need to hold onto them to get a return

This may mean that those Flipping in Sunderland have to factor in the 5% stamp duty applied to over £125k properties when buying

Given most Flips would be sold to owner-occupiers rather than investors (and therefore they wouldn't be paying the 'extra' stamp duty) it could just be that the added cost is applied to the selling price

There's a question over how this would be policed and it may be that they will require mortgage lenders or solicitors to share information on BTL mortgages taken out so it may be that this additional Stamp Duty could be avoided if the property was purchased in cash or using Joint Venture finance avoiding the need for a BTL mortgage? There's also the consideration that using Bridging Finance may avoid this but the cost is usually higher - given the announcement was only made yesterday these are very much 'off the top of my head' thoughts!

As it stands selling costs (including Stamp Duty) can be offset against Capital Gains Tax when a property is sold so whilst the Stamp Duty will need to be paid out in the first instance it can be claimed back...but I'm not particularly hopeful that given the way things are heading this loophole won't eventually be closed off!

Don't forget that there's likely to be more scrutiny by the Bank Of England on BTL and lending restrictions are on the way - I certainly wouldn't suggest this is likely to be the last anti small Landlord activity in the near future but I have faith that more often than not markets change and adapt to cope with such change and for every loser as a result of these changes there are likely to be an equal amount of people who benefit

If you'd like to have a chat about the impact of this change or any further policies that may affect property investment in Sunderland feel free to give me a call on 0191 567 8577 or email

Wednesday, 25 November 2015

Versatile "Full Refurb" 3 Bedroom Terrace (7.0% Gross Yield)

This 3 bedroom, 2 reception room terraced house is very close to the University and walking distance from the City Centre, meaning it could potentially be rented by families, students or professional sharers

It's being marketed at OIRO £69,950 and realistically will need a further £25,000 - £30,000 spending to bring it to a good standard throughout

Based on paying the asking price and spending £25,000 on improvements it will return 7.0% Gross Yield based on being rented to a family at £750pcm or could return significantly more if rented on a room-by-room basis to students or working adults

Click here for details and contact Alfred Pallas to arrange a viewing or for more details

This property does give you a number of options so if you'd like to discuss what may be the best strategy for you please feel free to give me a call on 0191 567 8577 or email

Tuesday, 24 November 2015

Three Bedroom First Floor Flat in Eden Vale (8.3% Gross Yield)

This 3 bedroom first floor flat in Eden Vale is close to the City Centre & University and it looks to be an established rental property that will return 8.3% Gross Yield

It's being marketed For Sale at £65,000 and is also on the market to rent at £450pcm (which is exactly what it should be on for) and from the 2 photos supplied the condition looks OK so no further investment would be required prior to getting the rent flowing in

It's being sold and rented by Hackett Property so click here for details and you'd need to arrange a viewing and request further details from them 

Call me if you'd like to discuss this property or any aspect of property investment in Sunderland - call 0191 567 8577 or email 

Monday, 23 November 2015

'Needs A Lot Of Work' 3 Bedroom Terrace in Thornhill (7.5% Gross Yield)

This property needs a complete renovation but it's priced accordingly and once complete will be an attractive family home - we know this as we've just let a property on this street

It's on the market with Pattinsons for £90,000 - factor in a further £30k to improve it both inside and out to a good standard and you should have an attractive property and given the most recent sale of a similar property on this street was £140,000 in June of this year you'll build in capital growth at the start

Based on a total investment of £120,000 and £750pcm rent (which is what we easily achieved for the one on this street a couple of months ago) you'll make a healthy 7.5% Gross Yield

Click here for details

Call me on 0191 567 8577 or email to discuss this or any aspect of property investment in Sunderland

Thursday, 19 November 2015

Exciting Times Ahead For The Sunderland Property Market?

Last week I attended the first Sunderland Professionals Network meeting and was lucky enough to hear a presentation given by Andrea Winders of Sunderland City Council about the exciting developments she is currently working on in Sunderland, many of which will undoubtedly have a positive impact on the housing market in the City

Andrea (who's official title is Executive Director of Enterprise Development) was like a breath of fresh air, with the passion, enthusiasm and drive you'd expect from someone with a history of success in the private sector prior to taking her first public sector role with Sunderland City Council last year

Sunderland is often seen by property investors as attractive due to the ability to achieve good Yields and positive cashflow but the lack of potential for capital growth due to the lack of house price increases in recent years is an obvious downside

Similarly Sunderland is perceived to have a problem with talent leaving the City rather than staying or actively choosing to move here and this impacts on both housing sales and rentals

It must be said that we see this on the ground with the flats and apartments in the City Centre or nearby likely to appeal to a younger professional tenant (rather than students) having a shortage of tenants but at the same time there is insufficient supply of family homes in the more outlying areas to meet the tenant demand

I'd hope that some of the projects Andrea is working on may address those issues, making Sunderland even more attractive for Homeowners, Landlords, Investors and Tenants alike

When you think of International employers you think of Nissan but Andrea was able to highlight that in addition to the car giant (which produces more cars in Sunderland than all the Italian manufacturers combined!), Sunderland is home to over 80 foreign owned companies employing over 25,000 people and is infact in the top four small European Cities for Foreign Direct Investment strategy

One of the most exciting developments off the back of this is the International Advanced Manufacturing Park to be located near the current Nissan site which is predicted to deliver 5,200 new jobs and £300m of private sector investment by 2027

IAMP site overview

Separate to this is the regeneration of the Port of Sunderland which I didn't realise had recently had it's rail link re-established to increase it's cargo handling capacity and increase it's ability to win and retain new business

It's not often highlighted but Sunderland is actually the UK's only net exporting region (clearly this is on the back of Nissan's 1000's of cars rolling off the lines) so any attempts to build on this or allow Sunderland's own infrastructure to be used to transport the goods made here (rather than transporting the vehicles by road to ports elsewhere) can only help the City

The Port will be the focus when the City plays host to the Tall Ships Race in 2018 and it is anticipated that significant development will take place to regenerate that part of the City to present the most attractive experience to Tall Ships visitors but also to leave a lasting legacy in what is currently not one of the most attractive parts of the City!

Sunderland is one of only three 'Digital Catapult Centres' nationally, which sounds painful but is actually the reason behind the new Software Centre at Tavistock Place - a £10m small business space designed to attract and encourage hi-tech digital start ups to the City

Also in the City Centre, the long overdue redevelopment of the Vaux site looks to be within touching distance of getting underway (with Phase 1 looking as if it may get the green light very soon) and is part of £700m of planned investment in the City Centre over the next 10 years 

This is designed to attract businesses, create jobs and give a much needed boost to the City Centre economy

Given I was among the hundreds of Vaux workers made redundant when the brewery closed in July 1999 this is something very close to my heart so I will continue to watch this with interest...

I'm usually pretty cynical but must admit to being very encouraged by what Andrea Winders had to say and her passion for seeing it through - having spoken to a number of attendees after the meeting we all shared similar positive feelings about how this could have a significant benefits to the City

A thriving City and regional economy are vital to a bouyant and robust housing market so I'm excited to think that these developments may start to give the Sunderland housing market a much needed boost

Separate to this, if you get a chance you should support the Sunderland Professionals Network, it's being organised by Rowlands Accountants and there seems to be a real desire to build a spirit of co-operation and collaboration within the Sunderland business community that can only help both the individual businesses and the City as a whole

If you'd like to chat about how these developments may affect the Sunderland property market in the future or chat about any aspect of in Sunderland give me a call on 0191 567 8577 or email

Wednesday, 18 November 2015

Superb 3 Bedroom Terrace Suitable for High End Multilet (+9.4% Gross Yield)

This 3 bedroom terrace close to the hospital would make an ideal family home but based on the £149,950 asking price it wouldn't stack up as an investment - let 3 rooms on a room-by-room basis to professionals and it does make an altogether more attractive investment

It's decorated and finished to the very high standard that could attract doctors working at the hospital or similar discerning professionals and they would be willing to pay around £90-£100 per room per week

I've worked the calculations on the lower figure and renting out the 2 first floor double bedrooms and 1 of the downstairs reception rooms as a double bedroom leaving the one of the reception rooms as just that, although to squeeze the pips further it may be possible to rent this living room out as a bedroom 

This may reduce interest as this sort of tenant may want some shared space & whilst the kitchen is great it's not big enough to be a communal area in which to gather

Based on the 3 room strategy and paying the asking price it will return 9.4% Gross Yield (10.4% if you achieved £100 per room) or 12.5% and 13.9% Gross Yield if you did manage to rent out 4 bedrooms

Being only a 2 storey property and having less than 5 bedrooms it would be classed as an HMO but crucially it wouldn't need a License 

It's on the market with Thomas Watson so give them a call for more information or to arrange a viewing

Give me a call on 0191 567 8577 or email if you'd like to discuss this Multi-Let strategy in more detail or to chat about any aspect of the Sunderland property market

Tuesday, 17 November 2015

'Needs Work' Three / Two Bedroom Millfield Cottage (7.9% Gross Yield)

This Millfield cottage is being advertised as having 3 bedrooms but on closer investigation the 3rd bedroom in the first floor loft conversion is accessed through the 2nd, which is less than ideal...

It needs work anyway so my advice would probably be to knock through and have a decent 2 bedroom property rather than a 3 bedroom property with obvious shortcomings

It needs looking at for damp, redecoration and a new bathroom for starters - you may choose to update the kitchen whilst you were at it

Based on the above and achieving £495pcm once the work had been done to a good standard it would deliver 7.9% Gross Yield based on paying the £55,000 asking price with a generous £20k budget for renovations

It's being sold by Peter Heron so click here for details  and get in touch with them for more info or to arrange a viewing

Call me on 0191 567 8577 if you'd like to discuss this further or to chat about any aspect of the Sunderland property market

Monday, 16 November 2015

Two Dovedale Court, Seaham Apartments (9% Gross Yield)

Two similar 2 bedroom apartments are available in Dovedale Court, Seaham and both are being advertised for offers over / offers around £60,000

The last 3 apartments in this development have sold for £59k, £63k and £60k respectively so these prices look about right

Based on renting them for £450pcm and paying £60,000 they'll return a healthy 9.0% Gross Yield (but don't forget being leasehold there'll be service charges to consider & budget for)

One is being sold through Castledene and the other Jonathan Lewis so get in touch with either or both to get more details or arrange a viewing

Give me a call on 0191 567 8577 or email if you'd like to have a chat about the rental appeal of these apartments or any aspect of property investment in Seaham or Sunderland

Friday, 13 November 2015

Superb 'Ready To Let' Town End Farm Semi (6.1% Gross Yield)

This 3 bedroom semi in Town End Farm looks to be in great condition with a stylish dining kitchen & modern bathroom - it will be popular with tenants

No work would be required prior to letting and whilst this does mean there's limited scope for adding value to the property, it does mean that it's ready for tenants to move in immediately

Based on paying the £89,950 asking price and £550pcm rent it will return 6.1% Gross Yield

It's on the market through Good Life so you'd need to arrange a viewing through them but click here for details

Call me on 0191 567 8577 or email to chat about this property or any aspect of the Sunderland property market

'Ready to Let' Two Bedroom Grangetown Terrace (7.6% Gross Yield)

This two bedroom, two reception room mid terrace in Grangetown is just off Leechmere Road and walking distance to the main shops and also ASDA. It looks to be in great condition so will attract interest from both couples and young families

It's on the market at £75,000 and you won't need to spend a lot prior to letting it so based on getting a realistic £475 rent it will return 7.6% Gross Yield

It's on the market with Peter Heron, click here for details

Call me on 0191 567 8577 or email if you'd like to discuss this or to any aspect of property investment in Sunderland

Thursday, 12 November 2015

2 Bedroom First Floor Farringdon Flat (9.2% Gross Yield)

We know this block very well as we managed a property here for many years and also have other flats in the similar nearby blocks such as Dunster House, Carlisle House and Cragside House

This first floor, 2 bedroom flat looks Ready to Let and at OIRO £51,950 it will return 9.2% Gross Yield based on a realistic £400pcm

We know that these blocks are popular with a range of tenants and being close to both the A19 and Doxford International are definitely seen as positives

It's on the market with Dowen so click here for details  then get in touch with them to arrange a viewing - but I'd be quick, based on our experience of when similar properties came up this may be popular

Call me if you'd like to discuss this or our experience of renting properties in this area - call me on 0191 567 8577 or email

Wednesday, 11 November 2015

Total Refurb Pallion Cottage Only £35,000

This is worthy of a look as it's on Mafeking Street which is the end of Pallion closest to Sunderland Royal Hospital. Other than that it looks like a full refurb job, which is reflected in the £35,000 asking price

It's not worth listing what you'd need to address (just think everything) but it looks to be desperately in need of some damp proofing and roof repairs judging by the state of the walls

We've rented a couple of properties on this street and currently manage a similar layout cottage - based on this experience we know that once completed to a high standard this could be popular with a range of tenants

It's on the market with Peter Heron so click here for details and give them a call for more info or to arrange a viewing

Give me a call on 0191 567 8577 or email if you'd like to discuss this investment opportunity or any aspect of property investment in Sunderland 

Tuesday, 10 November 2015

How To Profit From Property In Sunderland Without Needing A Mortgage Deposit

Everyone knows the normal way to get into property investment is to save up a deposit and buy a BTL property. The more creative or educated investor may adopt the 'Buy, Refurb, Remortgage' model to recycle one deposit pot to purchase multiple properties over time. But what if there was another way where you could control and profit from properties without the need to actually buy them with a mortgage?

One method being employed is using Lease Options to control a property, taking full responsibility for a property for a period of time (including maintenance and paying the mortgage) and therefore allowing the investor to profit from the rent received during the period as well as any capital growth over and above an agreed (deferred) purchase price

A Lease Option actually includes 2 parts, the lease and the option, the former giving control of the property and the latter giving the buyer the right to purchase the property (but crucially no legal obligation to do so) but legally obliging the seller to sell within the terms of the agreement if the buyer chooses to exercise his or her right to buy 

As the above suggests, a Lease Option is a complicated legal transaction but that in itself should give's likely to involve solicitors acting for both sides and is perfectly legal and above board. Whilst they are certainly not mainstream and unlikely to be featured in the Daily Mail or Sunday Times, there's certainly nothing inherently 'dodgy' about the practice and in-fact Lease Options are commonplace in the USA and Australia and also the UK commercial property market where they have been widely used for many years

Lease Options tend to work best with a Motivated Seller, someone who has perhaps tried and failed to sell using the traditional methods or who needs to find a solution quickly due to negative equity, relocation or separation - they won't be of interest to someone prepared to sit out and wait for an offer through a traditional Estate Agent or who needs the money from the sale right now

A successful Lease Option needs to work for both parties and typically will agree that a buyer has the right to purchase the property for an agreed price at any point during the option period and during that period will take control of the property, taking both responsibility for it and profiting from any rental income received

Lease Options tend to be created for a period of years (3 - 7 years being the norm, although they can be created for longer) so buyer and seller are entering into a long term business relationship. This clearly means a Lease Option has both benefits and risks and means that it essential that both sides conduct their own robust Due Diligence

There are a number of risks, the most obvious being if the legal paperwork isn't created correctly in the first place. This really isn't something that can be done DIY, even by experienced investors, and even appointing a conveyancing solicitor may not be suitable as most are not sufficiently familiar with Lease Options - you really do need to seek out a specialist (and I can point you in the direction of a number of specialists if needs be)

Other risks include if the vendor goes bankrupt or dies during the option period -  depending on the way it has been created the Lease Option could be accepted by trustees and/or beneficiaries or could be challenged if they feel it was unfair, creating both a costly & time consuming need to defend & legally enforce the agreement

Lease Options are transferable, meaning there is a growing community of educated investors who are familiar with them and are comfortable trading such 'deals' when they arise 

Typically they'll not arise through Estate Agents or Letting Agents (unless they have undertaken specific & detailed training on Lease Options, as I have) and will often come from more unusual sources (or 'Sourcers') - have you often wondered what all those scruffy, badly written, usually yellow "We Buy Houses" boards are all about?

Without doubt Lease Options are not for everyone and it is very much a non-mainstream 'Marmite' strategy but it can offer those unable buy a property through the traditional methods a way to control and profit from property and it can also present deals that ordinarily wouldn't come to market - if you want to have a chat about Lease Options (I'll be able to recommend a number of ways to educate yourself further on them), feel free to give me a call on 0191 567 8577 or email

Thursday, 5 November 2015

Three Bedroom Redhouse Semi (7.7% Gross Yield)

This 3 bedroom semi in Redhouse doesn't look too great on the outside but is in a good internal condition with a decent kitchen and bathroom - it should be popular with tenants

It's got an attractive garden with a raised decked area and looks to be well maintained throughout

It's new to the market and is on at £77,950 and based on achieving £495pcm rent it will return 7.7% Gross Yield

Click here for details

Call me on 0191 567 8577 or email for more information or to discuss any aspect of property investment in Sunderland

Wednesday, 4 November 2015

Are You A "Consumer" or "Professional" Buy To Let Borrower?

Hot on the heels of the recent rumours of George Osborne giving the Bank of England more powers to regulate the BTL mortgage sector, new European regulations being introduced in March 2016 look likely to beat them to it with legislation that will create important distinctions between Professional Landlords running property businesses and 'Accidental Landlords' requiring consumer protection

The Mortgage Credit Directive is a piece of EU legislation which has been around since 2003 and many aspects of it have already been introduced under the Mortgage Market Review which affected residential home loans

The UK government has interpreted this in such a way that will cause BTL mortgages to become regulated for the first time

From 21 March 2016, anyone taking a buy-to-let mortgage that isn't being used for a property business will need have to take out a regulated product

This includes anyone who has inherited a property that is let out, or who plans to rent out a home they previously lived in. This is because under the MCD they will be deemed a consumer rather than a professional buy-to-let borrower

The rules will change the way mortgages are sold and mortgage brokers and lenders will need specific permissions from the Financial Conduct Authority to advise and provide these Consumer Buy-to-Let loans

Until now BTL borrowers have not had to undergo the same sort of affordability tests that apply to residential mortgage applicants but from March of next year "Consumer" BTL borrowers will need to do so  - the treasury estimate 11% of existing BTL mortgages fall into this category

It's unknown how the lenders will react, I can't see it having a hugely significant impact on the choice of mortgages or providers but just as with the mooted increase in BoE powers I can see that this could have a significant & destabilising effect when 'Accidental Landlords' come to remortgage 

I say this as by their very nature Accidental Landlord properties are unlikely to offer the same sort of yields & cashflow as those properties specifically bought as investments and it may be that if they fail the required criteria to obtain a remortgage their owners are forced to take alternative action such as selling their property 

With the forthcoming changes to Landlords tax relief on mortgage interest payments it could provide further impetus for lenders to focus more on providing BTL mortgage products for those borrowing through dedicated property companies 

Click here for an excellent This Is Money article giving more details on the likely changes and their impact

If you'd like to have a chat about the likely impact of this legislation, I'm not a financial adviser so couldn't offer advice but could certainly have a chat about it! If you'd like to discuss any aspect of property investment in Sunderland feel free to give me a call on 0191 567 8577, email or pop into our 11 Frederick Street office for a chat

Three Tenanted Redhouse Semis Giving over 7.6% Gross Yield (Same Owner - Could Be Desperate?)

These three tenanted 2 bed semis in Redhouse have all been listed by the same agent on the same day, so it's clear that they are owned by the same Landlord - this looks to be the same Landlord that looked to offload 6 properties in March 

Click the link below for the blog post from March and you'll see one of them below was being offered back then

Portfolio of 6 Tenanted Properties in SR5 (For Sale as Portfolio or Individually) - 8.8% Gross Yield 

In light of this you may be able to strike a deal if you bought all three - even if you didn't they look to provide a decent enough return if you believe the estate agents figures and assuming they are in good condition - the lack of internal pics is a slight concern but it may just because the tenants are messy!

They are being sold for 75,000 achieving £500pcm (8% Gross Yield), £75,000 with £520pcm rent (8.3% Gross Yield) and £75,000 with £475pcm rent (7.6% Gross Yield) respectively

Click here for details

Given all three have gone on the market together it does suggest the owner might be susceptible to negotiation

Give me a call  on 0191 567 8577 or email if you'd like to chat about them or for more information about the Sunderland property market in general

Monday, 2 November 2015

"Ready to Let" Town End Farm 3 Bedroom Semi For Sale At Auction (8.8% Gross Yield)

This 3 bedroom semi is being sold at auction on December 3rd with a starting bid of £55,000. The most recent sale of a comparable property on this street was in 2013 and it went for just over £80,000 so I would expect to pay somewhere between £75 - £80k for this one

Eagle-eyed readers may recognise it from a blog post back in September, when they were looking for 'offers over' £75,000

It was originally listed in July with an asking price of £80,000 so I'd definitely advise aiming for no more than £75,000 if you do bid

December auctions are normally pretty quiet so it may be that you can capitalise on a lack of competition and snap up a bargain...
Based on paying the £75,000 and assuming there are no additional expenses (it looks to be in a Ready to Let condition) you'd achieve 8.8% Gross Yield based on £550pcm rent

Click here for details 

Call me on 0191 567 8577 or email for more information about this or any aspect of property investment in Sunderland