2 Bed apartment in Chelmsford with 5.2% yield...

We're in for a scorcher this week, so I've heard! So I thought I would send out some 'Hot' Properties that I have noticed on the property portals. 

This property is a 2 bed apartment in a popular street, just off New London Road in Redmayne Drive. It's a spacious property, in not bad condition however, I would suggest running a coat of magnolia around to freshen it up and neutralize it a bit.

http://www.rightmove.co.uk/property-for-sale/property-48607516.html

This apartment has just come to the market for £170,000 and would achieve a rent easily in the region of £750 pcm. Getting our yield calculator out, you are looking at an annual return of 5.2%, before any service charges & ground rents etc.

IF you would like any advice on wheat you should, or shouldn't be buying, come on in for a chat, my office is on Duke Street

A nice 'n' easy property in Chelmsford...

This property is simple, no bells and whistles, just a straight forward, 2 bedroom house. Located just off Broomfield Road, in Chester Place, it's a great location for the station again. It's just come to the market for £210,000, which isn't too bad for a house so close to the centre of Chelmsford. Before you launchinto it feet first, make sure you view it, the photo's aren't particularaly clear and can;t see what the condition of the kitchen or bathroom is. They may need some updating, this may be why the price is set where it is. You always have to read between the lines!

http://www.rightmove.co.uk/property-for-sale/property-48170407.html

Saying that though, this type of property will always rent out, providing the price is right, and I would suggest in the region of £875 pcm would be about right. 

So, doing our calculations based on these figure, we are looking at an annual return of 5%. 

If you are thinking about becoming a landlord, but not sure where to start, come on in for a chat, I'm happy to go through it with you and give you some pointers

What type of property in Chelmsford sells the best?

Knowing how saleable a property is half the battle when deciding what (or not) to buy for your next property investment. Why?  Well because one day, you may need to sell that property. If you go into the purchase with open eyes, you know most of the risks and can barter the price accordingly if you have to. Bearing this in mind, last week, a couple from Dunmow popped into our offices to ask about investing in property. Their concern was if we have another property slump (and we will because that is what has happened to the British property market ever since the 1950’s), if they did need to sell, what type of property would be easier to sell. Now everything sells, even during a slump, but I did some research and followed up their query – I was actually quite surprised with the results.

A good guide to judge the saleability of property is the number of properties for sale, compared to the numbers that are sold, subject to contract. Now I carried out this comparison last week, so the numbers will be marginally different today, but of the 44,183 households in Chelmsford there are 1,660 properties on the market for sale. Of those 1,660 properties, 647 properties are fully available on the open market waiting for a buyer and 1013 have buyers and are sold subject to contract. That means 31% of property on the market has a buyer in Chelmsford (interestingly in Braintree 55% of properties on the market have a buyer and in Witham 57%).

However, delve deeper, and in Chelmsford today, 58% of detached houses on the market have a buyer and great news for semi detached property owners, as 69% of them have buyers.  Terraced houses fair even better, with 247 of the 340 on the market now having buyers (making 72%). The properties that appear to be sticking though are apartments at a comparatively lower 55% and bungalows at 57%. 

I am always giving advice to my existing and new landlords in Chelmsford on what to buy (or not as the case may be).  Having this detail of information at my finger tips, allows me to spot trends in the local market, which then enables to me to give the very best advice to my clients. I don't charge for that advice as I have plenty of opportunity to earn money by finding the best tenants for my landlords in the years to come on the investments I have advised on. 

Close to Chelmsford City centre with potential 5.4% return....

I've thrown a few properties out there recently which would appeal to the people looking for rentals in the quieter parts of Chelmsford, but we musn't forget about the professionals who need to be close to the station. This property fits that bill quite nicely. It's modern, it has parking, you can walk to the station and the High Street and it also has a balcony. 

http://www.rightmove.co.uk/property-for-sale/property-50505592.html

This type of property would easily rent out for around £850 pcm at the moment, on a good day, you may even be able to push that to £900 pcm. But even basing it on the conservative lower figure, it would still potentially generate you a gross annual yield of 5.1%, based against the current asking price of £200,000. If we look at the top rental figure, this could boost the yield to 5.4%.

All in all, not bad eh?

If you would like any advice on buy to let, feel free to give me a call 01245 330500

5.1% return on this Chelmer Village (Chelmsford) property...

This 2 bed maisonette in Springfield could prove to be quite a nice little buy to let property. The property itself is in pretty good condition, so should be a fairly straight forward buy it and let it out, subject to the obligatory pre-tenancy clean. 

http://www.rightmove.co.uk/property-for-sale/property-50490622.html

Chelmer Village as I have mentioned before in several of my articles is a great spot for buy to let, it offers people the slightly quieter life without being too far away from civilization. Perfect for tenants who have done the City living thing already. 

This property has just come to the market with a guide price of £175,000. Withi this figure in mind and comparing it to what similar properties are renting for in the area at around £750 pcm, you could be looking at a potential annual yield of 5.1%.

If you have decided to dive into the buy to let market, you can;t go far wrong with a property like this.

My door is always open if you fancy popping in for a chat, my office is on Duke Street