Good Buy to Let Investments23 Jan 2018
Good buy to let investments – focus on 2 beds offering income of £550 plus… with a budget of £65k.
Normally when I am looking for buy to lets, I am all about the 1 bedroom flats- in terms of getting a good yield, safe investment combination but this week I spotted a couple of decent 2/3 beds which would make great investments that you can drive a decent monthly income from. All of these need a bit of money spent on them but if you spend wisely, that’s only going to add value to your investment.
You need to remember to think about who your target market is for these properties, so don’t over spend but make them appealing. I’ll tell you what I would be doing to these properties to get them ready to rent, for the best rent you could achieve in that area with that level of investment. I’m assuming we have £65k to play with this week!
Let’s have a look:
3 bed maisonette on Maryhill Rd
Great flat in popular area, to the West of Glasgow city. Great transport links, popular with tenants. Flat is in clean and tidy surroundings – potential rent £650pcm, possibly housing benefit tenant but long term and can be unfurnished. Managed by Housing association so low factor fees
Purchase price £55-60k – needs possibly décor, kitchen, bathroom refresh – spend £5k. Return at 11-12%!
2 bed flat in Summerston
Flat within quiet well maintained area – needs new kitchen but other than that looks OK- again housing association managed so low factor fees and well kept. Long term tenant – could be professionals or possibly housing benefit.
Rent – up to £550pcm. Purchase Price £50-55k plus £5k spend – £60k with £550 return – over 10%, Safe and great investment.