There's a fair number of 2 bed Victorian terraces advertised for sale currently with prices starting at around the £150,000 mark. When you dig further you generally find you're picking up something that's in need of work - if you want something that is genuinely 'ready to let' you need to spend £165,000 or more.
That's why this one, I think, is the exception. It's in Cambridge Street, Semilong and is yours for £150,000. The condition is good - the walls are smoothly plastered (the major bug-bear with Victorian Terraces), the kitchen and bathroom are modern, and the decor is neutral and clean. Even the garden is properly finished. What's more it comes with a tenant already in it - a reliable tenant paying £675PCM. We've actually managed this property for a decade and whilst there have been running repairs as there are with all properties, there have been no ongoing / repeat problems - it's solid.
So as the title says, you could do much worse! I saw an investor earlier this week who had just completed on 2x Victorian Terraces in the same area and was starting the process of upgrading them. Both were in worse condition than this one, and both had cost him more.
That's why this one, I think, is the exception. It's in Cambridge Street, Semilong and is yours for £150,000. The condition is good - the walls are smoothly plastered (the major bug-bear with Victorian Terraces), the kitchen and bathroom are modern, and the decor is neutral and clean. Even the garden is properly finished. What's more it comes with a tenant already in it - a reliable tenant paying £675PCM. We've actually managed this property for a decade and whilst there have been running repairs as there are with all properties, there have been no ongoing / repeat problems - it's solid.
So as the title says, you could do much worse! I saw an investor earlier this week who had just completed on 2x Victorian Terraces in the same area and was starting the process of upgrading them. Both were in worse condition than this one, and both had cost him more.
