Thursday, 2 October 2014
Great investment in Herne Bay - 6.3% yield!
I just could not resist getting this one onto the blog, as it's a real 'corker'!! Again, these properties are in great demand with tenants and such properties make great first time investments or another 'bolt on' to the portfolio.
This one came on the market this morning with Kent Estate Agencies and I would recommend picking up the phone quickly to them! The property is being offered at £89,950 and is looking for a bit of 'TLC'. We have spoken to one of our contractors, who works for us on a regular basis installing kitchens and bathrooms, and he reckons that it would cost no more than £10K to install the kitchen, bathroom, redecorate and carpet the apartment, i.e. a complete refurbishment!
Now it starts to get really interesting, as the total outlay would now be £99,950 and we would recommend marketing this for at least £525 per month, which then produces a yield of 6.3%. Happy days!
Check this one out further at http://www.rightmove.co.uk/property-for-sale/property-48483161.html
Should you wish to discuss any other specific properties or just a general chat re the current market, please feel free to contact me on 01227 455717 or call in and see me at 23 Watling Street in Canterbury.