As you know, I keep a close eye on the market and notice changes and trends which help me decide what is a good investment… and what isn’t.
One of the ways I do this, is by checking out the properties with reduced prices. Why? This shows me the vendors who are motivated to sell! Vendors with little or no motivation are usually quite happy for ‘wait for the right price’ whereas somebody who really wants / needs to sell will drop the price and their agent should treat it as a brand new listing, as well as approach previous viewers.
I’ve noticed a two bedroom apartment in Cinnamon Building, Henry Street which has recently reduced from £124,950 to £120,000. With a L1 postcode, it’s in a fantastic location and is very popular among tenants. I think if you can negotiate to £118,000 or less – you’ve got yourself a very good deal! Click here to see the recent sale prices in this building which range from £124,000 up to £140,250 for two beds.
You would expect to achieve between £700 and £750 per month for the apartment. You could achieve 7.5% yield, before charges which makes this such a good buy. The listing is with City Residential – see the details here.
I think this will get much more interest at the new price as it now falls under the Stamp Duty threshold for first time buyers,so recommend inspecting asap.
As always, comments, questions and feedback is more than welcome.