There is a saying in the investment market. And that is the greater the risk, often the greater return.
That’s why today we though we would look at a potential property deal on the Marsh estate. It’s an ex council property however it looks to be in pretty decent condition.
Before you think this area is not for you, think about the possibilities. There is a likelihood you’ll attract a longer term tenant, possibly a young couple in their 20’s who can’t afford to buy meaning they won’t be looking to move on quickly. The location is convenient. The city centre is only a 5/10 minute walk and the train station is close by. There is a great range of local amenities and a popular primary school and nursery. These are all key considerations tenants make.
There is also lots of investment happening in the area. The Victoria pub on Willow Lane is being renovated and new builds are popping up within 1/4 mile of radius. This area feels like it is on the up!
Check out this property which is up for sale with Entwistle Green. It is just £80,000. The kitchen is a bit bright however the essentials are all there. If you achieved a rent of £450pcm and paid the asking price, you’d see a gross yield of 6.75%, which is higher than many landlords achieve!
http://www.rightmove.co.uk/property-for-sale/property-51231014.html