Wednesday 8 October 2014

In need of a little TLC but tons of potential in Chelmsford

This one caught my eye as I think there is quite a lot of potential to get your self a cracking little buy to let property. The kitchen and bathroom are already good, it needs redecoration and flooring to be laid. You don't need to spend ages on working out colour schemes though, stick to good ole magnolia walls and white woodwork and you can't go far wrong and keep the flooring neutral as well, try to steer clear of cheap as chips flooring though, as you need it to be fairly hard wearing, something mid range would be fine. I'm not expecting 100% wool carpets to go down!

This is on the market for £165,000 and even if you went mad and spent £10k making a total outlay of £175,000, you could still achieve a gross yield of 6% which is fantastic. The 2 bed apartments in this area rent around the £875 mark with no problems. 

I'm sure I'm not the only one that has seen the potential with this one, so you better be quick

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