Friday, 5 December 2014

Christmas has come early in Herne Bay - 3 bed - Yielding 5.27%

Yesterday, I was having a discussion with one of our investment Landlords where the next area of interest would be for making his next investment. Despite him owning a number of properties in both Canterbury and Whitstable, I was trying to convince him to look slightly further afield to other surrounding areas, such as Faversham and Herne Bay. After looking at numerous permutations of properties from studio flats to 5 bedroom houses, I think that (after nearly 2 and a half hours.......) I managed to convince him to take a look! May I add that his wife was delighted with our length of discussions, as she went off Christmas shopping in Canterbury for a couple of hours 'without him moaning.........' (her words, not mine!!)
 
This morning, I phoned him back and said to him to take a look a property that has just come on the market, which proved my calculations correct. It's just come on the market with Amos Dawton & Finn in Herne Bay for £205K and its a 3 bed semi. As ever, these properties are in great demand by tenants and will rent out for a minimum of £900 per month, which will give you a return of 5.27%. Again, that's minimum, as if the rent was closer to £1000 per month, which is possible, then you're looking at close to 6%. Happy days!
 
Now here's the bonus, with the new Stamp Duty rates you make a saving of £450! That's Christmas sorted!
 
and give them a call for a viewing.
 

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.