Buy to let deal of the day - do-er up-er!

This one jumped out at me as it could be a corker! If you can find one of these, get it at the right price and watch what you spend (i.e actually make a spreadsheet with figures and everything!) then you can get a great yield AND capital appreciation!

It's a 2 bed ground floor garden flat, close to the station in St Margarets, or, in other words, rental heaven! 



It's even got curb appeal - double whammy!! :o)

 

Not for the faint-hearted though as this needs a serious amount of work. 

So, what do the figures tell us...? Well, it's on for £349,950, which is pretty reasonable given it's location and I estimate you'd need to spend around £20k (if you're good at watching the pennies) on it to get it to a decent rental standard. So, not including fees, that's an investment of around £370k for what could be worth in the region of £500k when complete! Not bad!

Something of that standard in that area should rent for £1600pcm which would give you a yield 5.2%. Great in this market!

There is a catch though - sorry - its not that good to be true! It has a short lease of only 69yrs which means you need a whacking great deposit in order to finance it. But, once you've extended the lease....happy days! :o)

http://www.zoopla.co.uk/for-sale/details/33515753


Rebecca Smith