The weekend is nearly here!
I picked this property out of the recent ones that have come to the market as it looks in pretty good condition and is a fairly good size. One thing to consider with this house is that it is listed as 'of non standard construction'. This could mean that you may not be able to get a mortgage on the property, it could be steel framed, however for you cash investors out there, that's not a problem. IT would definitely need to be investigated further with the agent William H Brown.
It is on the market for £175,000, which given the fact it's a 3 bedroom house, is a very good price indeed. It is probably a bit cheaper because of the construction. For rental purposes though, a tenant doesn't really care how the property is built and you could probably achieve in the region of £850 pcm. With figures dancing around this level, you are looking at a potential annual yield of 5.8%.
Being a slightly older house, I would always recommend that you keep a 'maintenance' fund aside just in case any issues arise with the property. which you should do with any property anyway.
If you have any questions at all about investing, feel free to send them through to me at stephen.frost@martinco.com
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