Monday, 16 May 2016

"Full Refurb" Three Bedroom Farringdon Semi - Could Be Either Popular BTL or Flip

This three bedroom semi in Farringdon is offered with No Onward Chain and needs a lot of work due to the dated decor, bathroom and kitchen

It's being advertised for £75,000 but given it will need at least £15,000 spending on it I would suggest that you should negotiate hard, aiming to secure a discount of at least the refurb budget

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You may not get the offer accepted initially but it may be one to watch or return to in a few months if there it is still on the market (which may well be the case)

Assuming you can secure this at a significant discount, there may be potential for a flip as there have been sales of comparable 3 bedroom properties in the surrounding area of £95,000 - £100,000

Alternatively, once refurbed throughout to a high standard it would command £550pcm rent - if you base the yield calculation on a total investment of 85k it will deliver 7.8% Gross Yield and furthermore is likely to be very popular with family tenants

It's being marketed by Michael Hodgson so click here for details and contact them to arrange a viewing https://www.onthemarket.com/details/2760610

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

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