Buy to let deal of the day - safe bet

I was talking to one of my Teddington landlords yesterday and he asked what I thought of buying ready made investments in and around Teddington against ones that require a lot of work to bring them up to standard. My answer was pretty simple - what do you want to get out of the investment and why are you a property investor in the first place?

He answered that he just wanted to make a bit of cash on the side but with the least amount of effort possible. He had no desire to be chasing around after builders, choosing tiles and carpets and such like associated with renovating a property. He had even less of a desire to be answering the phone to tenants at all hours who've got a broken toilet seat or don't know how to change a light bulb! That is probably the reason why I manage his 3 properties for him so that he never has to deal with the tenant and the only properties I recommend he buys are ready made investments. 

This one popped up this morning which is a prime example of a 'buy to let in a box wrapped up with a big bow'!!

 

http://www.rightmove.co.uk/property-for-sale/property-46925834.html

It's a one bed top floor flat just around the corner from Hampton Wick station which also makes it walkable into Kingston over the bridge in 5 minutes. Ideal location? Check. Top spec? Check. Share of freehold, river views and curb appeal as added bonuses? Check. What's not to love?!

It's on at £385k and considering the location, size and spec will comfortably fetch £1300pcm. That gives a decent yield of 4% without even considering the capital appreciation. This won't hang around for long though so get your skates on if interested!

Rebecca Smith