Thursday, 8 January 2015
6% yield in Faversham for £150K - get in there!
Morning Prop Pickers. Calling all ‘Homes Under The Hammer’ enthusiasts, this is just the one for you!
This interesting property has just come onto the market in Whitstable Road, Faversham with Miles & Barr for £150K. From the outset, they are being totally upfront and saying that a) it requires modernisation and b) cash buyers only. Therefore starting from a base of £150K, plus a refurbishment of say £30K (max), this takes us to a figure of £180K. Now it gets interesting!
These properties, should rent out for circa £900 per month, which would give you a cracking yield of 6%! Try getting that from the bank! Of interest, I spoke with a Landlord last week who told me his bank offered him a savings rate of 1.9% on £250K………what a laugh!
Check this one out further at http://www.rightmove.co.uk/property-for-sale/property-47832334.html and give them a call. I don’t believe that this one will be around for long!
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 / firstname.lastname@example.org or call in and see me at 23 Watling Street in Canterbury.