This blog follows the property market in Northampton with a particular emphasis on buy-to-let. On here you'll find general commentary about the market, plus properties that may represent decent buys. I own a large estate agency in Northampton and am myself a landlord with an established portfolio. If you're looking to invest, but are unsure what will work best, I'm happy to offer a (free) second opinion. If you have a property to sell I can help with that too! Email richard.baker@belvoir.co.uk

Saturday 16 April 2011

POTENTIAL INVESTMENT WITH 9%+ YIELD

1 bed ground floor flat in Thorplands, Northampton.
Leasehold with over 100 years left on lease.
Reposession - needs someone that can proceed quickly. Cash would be ideal, or it may get nicked off you at this price.
Will rent for £375PCM on a bad day - this will be a local authority tenant.
Negotiated purchase price of £41,000 includes a finders fee of £1,000+VAT for Belvoir Northampton.

Suggested purchase price	£41,000
Estimated refurbishment spend	£6,000
Total spend	£47,000

Estimated monthly mortgage payment (2yr fixed)*	£135.00
Estimated monthly mortgage payment (5yr fixed)*	£160.00
Monthly rental figure**	£375.00
Annual yield	9.5%

*assumed borrowing 80% of purchase price on a buy-to-let basis.

**rental figures are conservative.

EMAIL richard.baker@belvoirlettings.com if you are interested.
8 properties acquired for landlords in 2011.

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