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

Sunday, 6 January 2019

6% freehold 2 bed - £130,000 or maybe less?

If your New Year's resolution is to get a buy-to-let this wouldn't be the worst place to start, in my view. It's a freehold 2 bed house near the Weston Favell Centre - I've seen people buy half a dozen of these in 2018 and they've all let out for at least £700PCM once they've been brought up to standard.
This one is advertised at £130,000 so you'd hope to get it for a little less. It will need improvement - they all do when they are available at that sort of figure - but it's then an easy let without the yield-busting issue of a service charge. Based on £700PCM and an all in budget of £140,000 I make it a 6% return which is hard to come by these days.
The agent is saying they are having an open day on Saturday - probably in the hope of drumming up a coachload of viewers - but I reckon there may be an opportunity to pinch this as I suspect that most buyers haven't recovered from their Christmas hangovers!
Happy to discuss, as ever, with anyone who's thinking this might be for them. We can sort the refurbishment out too. richard.baker@belvoir.co.uk. 
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