Buy to let deal of the day - fancy making yourself 75K profit?!

Trawling through Rightmove and Zoopla, as I do daily just to see whats out and about, I came across this one. It's a perfectly proportioned (i.e great for the rental market) 3 bed semi in Isleworth which needs a new kitchen and redecorating throughout. Bathroom looks up to scratch so that'll save you £3-5k on the refurb costs.

       

http://www.zoopla.co.uk/for-sale/details/35614931

What made me stop and take a closer look at it was the price. It's on at £389k and probably needs just £10k spending on it, maybe £15k at a push. However, when I did a bit more research I can see that there are 61 3 bed properties currently on the market in Isleworth with an average price of £475k. Interesting huh?! That means you have the potential to make up to,or even over,£75k gross profit just from doing a simple refurb.

When we look at it as a buy to let that doesn't disappoint either. You'd get £1650pcm for this which, when you take into account your total spend of £400k (purchase plus refurb) that would give you a gross yield of 5%. Nice little investment in my book!

Rebecca Smith

http://www.rebeccasmithpropertyservices.co.uk/