• Katie

Want To Invest In Property In Waterlooville? Don't until You've Read Our latest Buy-To Let Deal!

Updated: Nov 11, 2018

Afternoon


I’m sure you are all looking forward to the weekend ahead and the sunshine we have been promised by the weather man!


The property that has caught my eye today potentially has a yield of 5.25% which is fantastic for around this area, this has been based on purchasing the property for £160,000. It’s a 1 bedroom flat off The Spinney in Denmead.


http://www.rightmove.co.uk/property-for-sale/property-49814538.html





The property was converted into a flat in 2015 therefore maintenance will hopefully be minimal due to items being relatively new still. There is a tenant in situ currently paying £700 per calendar month which is reasonable for this property, the top rental figure you could potentially achieve is £725 per calendar month. There are advantages and disadvantages to purchasing a property with a tenant in situ.


Some advantages:

· Rent from day one of ownership

· Happy tenant – they haven’t incurred costs to find a new home

· No tenancy set up costs


Some disadvantages:

· Could potentially inherit maintenance problems the previous owner hasn’t dealt with or the tenant didn’t feel comfortable raising with the previous owner

· Tenant maybe in arrears

· Tenant may not look after the property - make sure when you view the property you are happy with the way the tenant is living and ask the current owner for proof of past property inspections


There is no mention of the ground rent and service charges on the advert so make sure you ask for details before or upon viewing the property so you can factor this cost in.


The type of tenants this property would attract is either a single person or a couple.


Take a look, the link is http://www.rightmove.co.uk/property-for-sale/property-49814538.html. If you would like to discuss a possible buy to let opportunity or the advantages and disadvantages of purchasing a property with a tenant in situ please don’t hesitate to contact me on the below details – I’d love to help you.


Katie

Katie@principal-properties.co.uk

www.principal-properties.co.uk/contact-us

0333 772 0718

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Telephone: 0333 772 0718

Principal Properties Limited, registered in England and Wales, company number: 10452516. Registered office: Bill Point House, Oval Lane, Selsey, West Sussex, PO20 0JN