I’ve come across this new property just recently marketed Keybanks in West Derby, it’s a mid-terrace 2 bedroom property that comprises of hallway, through lounge, kitchen, a rear yard, two bedrooms and a family bathroom.
The property although in ok condition does need a small amount of work mainly in the bathroom and kitchen which both need modernisation. The property is currently available for £45,000 and we have rented similar properties for £450 a month giving this a 12% yield if rented out in the current condition.
I would advise spending a little bit of money at the beginning of the investment to get the best possible dividend. If the kitchen and bathroom are modernised then this will attract a better longstanding tenant to the property with a little extra on top of the rent.
This offers a great yield of around 12% but what you must always be aware of is that the higher the yield, the greater the risk. I’ve rented around this area for many years and you are more likely to rent to a housing benefit tenant. We currently manage a property in this road and I’m pleased to say that they have lived in the property since early 2014 and have been great tenants.
Click here to view the property on offer!. I have a great relationship with Keybanks and if you were interested in this property, then I would be happy to help negotiate in the purchase of this property but you must be quick as I can see this property selling very quickly.
As always, I welcome any comments regarding this article or the blog.