As there is a shortage of properties coming on the market, then I am finding it increasingly difficult to find some real gems online. I have decided to focus my efforts on properties that are available through auction but I understand that not everyone will be able to purchase this route but it can offer some amazing deals.
I’ve come across a property in Walton which is a great small road that I have had plenty of experience with and always proves very popular with tenants.
The property is a small 2 bedroom mid terrace that benefits from double glazing (all properties should have these but unfortunately they don’t) and the property advert states it is in good condition and looking at previous property adverts to let, then it looks really good. There is currently a tenant in situ paying a rent of £5,100 per annum and if purchased for £45,000 then this would offer an 11% yield.
Previous sold price for this property was £71,950 back in 2005 but the most recent sold in the road was for £50,000 in April 2016 and £55,750 in December 2014 so I feel there is a good yield and good capital growth to be had.
The auction takes place on the 15th September 2016 from 12pm through Sutton Kersh and will be held at the Crowne Plaza in the Liverpool City Centre.