Another West Bletchley refurbishment project appeared on the market today, at a great price of £180k, you may need to put £10-15k into this but then you would have a completely modernised and sorted rental property, ready to let for the next 10 years without any major issues.
Now when I say a project, I mean a FULL refurbishment - new kitchen, bathroom, flooring, full redecoration and possibly skim the walls, look at the electric and gas while the house is tripped bare. In fairness, the boiler does look like a fairly recent replacement, the windows are mostly UPVC double glazed with just a few of the older aluminium framed doors needing attention, and the front & rear gardens just need a spruce up at the end.
Offered for sale today at £180k, I would allow for around £10-15k to cover all the works necessary, but of course you could put in the hours (well, it would be more like weeks!) yourself to keep the costs down and just use certified tradesmen for the absolutely essential tasks, in which case you could achieve close to 6% yield if this was ultimately rented at £895 PCM. Even if your total spend was £190k, a yield of 5.7% is still possible, but of course all your expenditure would the be taken care of and it should pretty much just tick over for the next 5-8 years without any bother.
If you really can't find what you are looking for on the property rental market and need a little help finding gems like the one above, speak to us about how we can keep you appraised of the latest opportunities before the rest of the pack. For more information about other potential investment properties that we could introduce you to (such as ready tenanted properties for sale by our existing landlords), or to ask about our thoughts on your own investment choices, call us now on 01908 562582 or send us an email.
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