Buy to let deal of the day - cheap and cheerful!

So this one seems too good to be true but it remains to be seen what it will actually go for. I know I'll be keeping an eye on it. It's a one bed on Waldegrave Rd so perfect place for an investment property - right next to the university where there are people jumping over themselves to rent a property like this....

  

http://www.rightmove.co.uk/property-for-sale/property-45280579.html

It's on at offers over £200k which means it could go for anywhere up to £280/£300k if it starts a bidding war. For the sake of arguement, lets say you get it for £250k, you don't need to spend a penny and you'll get £1000pcm in rent. That makes a very tidy 4.8% yield. You could be lucky though and get it for nearer £220k which would make a 5.5% yield. Worth a try?!

Rebecca Smith