Welcome to the middle of the week. I thought this property I spotted on one of the property portals would be worth a mention. Now, condition wise, it could benefit from a neutralise to make it a bit more appealing to a wider market, but it's only cosmetic issues.
http://www.rightmove.co.uk/property-for-sale/property-38681139.html?premiumA=true
This type of property, which is located on Chelmer Village, is very popular and appeals to families due to the location and proximity of local schooling facilities. Renting now is not just a young professionals game, it is for everyone. You tend to find as well that families stay put for longer terms as well, which is fantastic for a landlord, less messing around with change over of tenants. The rental rates that you would be looking at for this type of property would be in the region of £1100 pcm.
The asking price for this house is £280,000, offers in excess of. This basically means that you will need to pay at least the asking price for it, however even based on these numbers, you could still be looking at a yield of 4.7%, annually.
If you are interested in buying a property for buy to let, but aren't sure where to start, I would be happy to give you some pointers. My number is 01245 330500
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