Wednesday, 30 March 2016

Risky Repo - Guide Price Of £40k For A 3 Bed In SR4 But No Internal Viewings!

This 3 bedroom end terrace on the popular Burnaby Street near Chester Road is due to be auctioned on April 12th but you need to have balls of steel (or money to burn) if you bid as they aren't allowing any internal viewings...

Click here to see the shabby looking outside again

I can see from the picture that it's No 2 and have therefore been able to identify it was bought in 1998 for £42,000

Clearly you'll need to budget for a full refurb, rewire, new roof etc and keep everything crossed...but even so this may stack up as a bit of a punt given I can see that a similar sized 2 bed mid-terrace at No 14 was bought for £75,000 in 2011 and sold last year for 108,000 - a 44% increase which has clearly come about from buying a wreck and doing it up

As for the rent, you'd be wise to budget on £495pcm post-refurb

Give me a call if you'd like to have a chat about this in more depth to weigh up the pro's and con's and I'd be very keen to hear from you if you do decide to go for it!!

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