I'm off to Sicily in the morning for a wedding over the weekend and so thought I'd drop in a deal of the day before I go. This one popped up straight away as it's in one of my favourite parts of Teddington to invest in - Harrowdene Gardens. AND it needs work - cha-ching!!
No internal piccies (which means it's either tenanted and the agent couldn't get access or it really is bad)!
So. lets look at the numbers.....
Its on at £430k which I think is definitely over-priced given what else is currently on the market. You would need to get it for around £410k to make it worthwhile and then spend £10k on it. That makes your investment without fees £420k. Immediately, by doing the work you will have added around £30-40k to the value and you will be able to get a rental figure of £1400pcm. The yield would then be 4% which isn't amazing but I'd take it for the added value and future capital appreciation. Rental demand in this area is huge and so void periods won't be an issue. Another bonus!
http://www.rightmove.co.uk/property-for-sale/property-48331877.html
Rebecca Smith
http://www.rebeccasmithpropertyservices.co.uk/
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