Today’s Buy To Let Deal Is A Winner, Winner Chicken Dinner!

Leading on from my last BTL deal, I came across another similar property on Tamebridge on Harebell Close this time. Namely, a two bedroom terraced house, WS5. The full details here.

The marketed value is for offers around £124950k. Now, if the stats on the listing are correct, the last sale of the property on 22/08/2017 was £90k. Therefore, this means in just under 4 months, the property has increased in value by almost £35k! Now that’s some mad capital growth in such a short space of time!

Again, I don’t see this property selling at the asking price. Seems to me the seller bought it at a bargain price and is now trying to capitalise quickly, but as to whether it is worth the asking price, I don’t think it is. The spec is absolutely what you would expect from a property on Tamebridge and there is nothing out of the ordinary nor unique that would set it apart from other similar properties on the estate

So, what kind of BTL deal would this make Firstly, the property will let. The estate is amazingly popular for rentals. The true value of the property, in my opinion, is somewhere between £110k – £120k. Therefore, the rental yield based on a minimum pcm rent of £525.00 would be between 5.25% and 5.73%. There should be plenty of wiggle room to negotiate the asking price down, which in turn increases the yield. The seller gets more on his investment and you get more on your yield, winner, winner chicken dinner!

The photos speak for themselves, but get the rear garden sorted. It’s small and shouldn’t cost the earth (Pun intended). Parking is off-road.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.

For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.

Don’t forget to visit the links below to view back dated deals and Walsall Property News

Blog: www.walsallpropertyblog.com

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Twitter: https://twitter.com/AshmoreLettings

 

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