This three bed property is advertised at £99,995. The highest bid is £92,500 at the moment and I suspect it will end up selling for a figure somewhere between the two. This one does need money spending on it - you'd have two options:
- Spend £2 - 3,000 and rent it for £595pcm to housing benefit tenants - enjoy a yield of 7.2%.
- Spend £10,000 and rent it for £625pcm to private tenants - enjoy a yield of around the 7% mark.
If you did the latter, you would have a property that was easily worth £115k, and very probably £120k in the current market. As such, this is a genuine opportunity to aquire a freehold property at a discount.
