a renovation to flip, or to rent – its a double whammy

This is an exciting one!

This property will suit both types of investor – those looking to renovate and sell on and those looking for a buy to let.

http://www.rightmove.co.uk/property-for-sale/property-51227682.html

The property has come onto the market with Bridgfords for £170,000. It has been listed as a three bedroom house however when you look at the floorplan and the description, it is a two bed. However converting it to the desired three bed would be relatively straight forward by extending the hallway slightly and taking a section off the master bedroom to create a third single room. This will increase its desirability for both buyers and tenants.

The house clearly needs renovating from top to bottom so would be a great project and gives you something to really sink your teeth into!

In a modernised state, and with the addition of the third bedroom, the property would sell in the region of £210,000. To rent, the property is likely to achieve in the region of £750.00pcm giving a current yield of 5.2% however the costs of the improvements need to be factored into this.

Whatever you decide to do, its a win win situation!

For any help or advice with your investment property, please feel free to give me a call on 0161 442 1118.

 

Anna

 

 

Anna Corrigan

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