This mid terrace 3 bed house house requires some degree of refurbishment to bring it back to habitable condition. At an estimated cost of £10,000 for the refurbishment and an acquisition cost, of £68,000 the total outlay is £78,000.
We have managed to secure a net income of £600 per month on this property over a 6 year period as a government backed asylum seeker property investment. The total income per year is £7,200 giving a 9.23% net yield.
Listed at £70,000, we believe that the property can be acquired for circa £68,000. This property is located in a residential part of town with easy access to the town centre. Located nearby are primary and high schools.
As an aside, properties in this area which are in reasonable to good condition are being marketed for £85,000 plus , meaning the client has an option of exiting the investment with a good uplift in value in the current market
What to do next?
Interested? If you are a current client, please forward your latest proof of funds to your account manager with this property detailed in the message. if you are looking to come on board as a new client, then call us on 020 3603 8903 or send us an email for more information.