I saw this today, Central Northampton, which at an asking price of £55k is a cheapy!
It's a small studio, but self contained and well located - the type of 'first rung on the rental ladder' which is always popular with tenants.
It's currently rented at £350PCM. There's an option to buy it with the tenant in it - he's been there 4 years already - which is an automatic 7.5% rental yield, before we've even negotiated on the purchase price.
Alternatively, you could do the place up a bit - mostly cosmetic, probably less than £1000, and charge a higher rent - certainly £395PCM. That would take the yield to 8.5%.
It's not a massively high risk one this, and I believe there are already offers on the table, so please be quick if interested.
It's a small studio, but self contained and well located - the type of 'first rung on the rental ladder' which is always popular with tenants.
It's currently rented at £350PCM. There's an option to buy it with the tenant in it - he's been there 4 years already - which is an automatic 7.5% rental yield, before we've even negotiated on the purchase price.
Alternatively, you could do the place up a bit - mostly cosmetic, probably less than £1000, and charge a higher rent - certainly £395PCM. That would take the yield to 8.5%.
It's not a massively high risk one this, and I believe there are already offers on the table, so please be quick if interested.
