In a market where prices are holding steady and it’s proving hard to
find value, we have three deals that, if they come in, are good bets for
investors. These will go on this blog if / when they arrive this week. All are different, and will suit different styles of investor.
In terms of rental potential, if it was well finished we’d get at least £750 for it and maybe up to £800. Equally it’s in the student area so if you wanted to turn it into a HMO (no license required here) there’s the option to create 4 lettable rooms.
DEAL 1 : REFURBISHMENT OPPORTUNITY
This is a 3 bed house with a downstairs
bathroom in Far Cotton. If it was well finished we would sell this for £160,000
without any difficulty in the current market. This one isn’t well finished – it
hasn’t been upgraded for some years and need EVERYTHING doing – we think a
spend of just under £20,000. If you’re in the trade, you’d get this price down.
It’s not a question of a quick lick of paint. BUT we’re pretty sure the vendor
would take £130,000 for it so there’s some money in it for someone. In terms of rental potential, if it was well finished we’d get at least £750 for it and maybe up to £800. Equally it’s in the student area so if you wanted to turn it into a HMO (no license required here) there’s the option to create 4 lettable rooms.
Any questions, please don’t hesitate to ask.
We have keys on this and are viewing today. richard.baker@belvoir.co.uk.
