The hardest part about property investments is finding the right properties at the right prices and this is proving even more difficult as there is a shortage of stock coming available on the market. I’ve decided to go through the property portals and look at the properties that have been on the market for the longest (instead of the new stock available, like I usually do)
I’ve come across a three bedroom semi detached house in West Derby that is currently on the market for £120,000 through Reeds Rains but it has been available through them since December 2015. This development is a great development with a mixture of owner occupiers and tenants and there is always a great demand for tenants when they come available to let.
This property doesn’t need any major works doing to it but it may benefit from re-decoration (but I’ve not seen it internally although it looks fine on the photos) and the garden may need some attention (as it’s not shown on the photos)
As it’s been available for over 7 months, then I feel an offer of £105,000 may be accepted if the vendor is motivated to sell. If the property is currently empty (not tenanted or occupied as it looks like from the photos) then this property will be costing the vendor loss of rent as well as utility charges such as council tax and gas and electric.
If rented out, then you would be achieving a rental income of around £675 per month to a professional couple or working family.
The property in the past was originally purchased for £160,000 in March 2007
I have great experience of this area and the agents so if you need help or advice over this property, then please do not hesitate to contact me 07747770972