As ABBA once sang - money money money..........but not everyone has bags of money to spare, so for those on a budget but wanting a decent return then cast your eyes over this.........
Todays offering may not win any beauty contests, nor will it suit many landlords expectations or fit with their middle class portfolio, but for some this will be right up their street, being both affordable to buy and popular on the rental market to the families who want, need or can only afford to live in this area.
At an asking price of £155k this is a lot of house for the money, however when you look at the location it is clearly getting on a bit, hence prices for all properties around here are at this level, BUT what that will give you is 2 things in your favour:
1. An affordable resale price, and a way into the lettings market that will not break the bank
2. A greater than average annual yield (cash flow), as lower priced properties still rent out well
The current rental market value for this would be around £850-875 PCM which is a yield of at least 6.6%, and literally whenever we get properties in this area we can have them let within a few days to families extremely keen to get a decent sized house on a tight budget. You will find that having secured the house, they will not want to move for some time, so in reality you will end up with a happy long term tenant moved in quickly.
I will regularly post what I consider to be great buy to let deals across Milton Keynes and surrounding areas on this blog 3 or 4 times a week, irrespective of which agent they are being marketed with. Maybe you should subscribe and be kept up to date?
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