Case Study – Overseas Investor with £75,000 to Spend, What did we buy?19 Feb 2021
We recently were engaged by an overseas investor to add another rental property to their portfolio – they wanted a hands-off, low-risk investment that would rent well.
We secured a 1-bed tenement with open aspects over a park – it needed a little TLC – and within 12 hours of hitting the rental market we had a tenant lined up to move in – as ever, we furnished and staged it to make it as appealing as possible to potential tenants.
PURCHASE PRICE £64,000
ADT AND FEES £3,500
SPEND TO GET IT RENTAL READY £2,500
TOTAL SPEND £70,000
ACHIEVED RENT £500 PER MONTH (£6,000 PER ANNUM)
YIELD ACHIEVED ON FULL MANAGED PROPERTY (INCLUDING FACTOR FEES) 7%
This is a great wee flat with a low initial investment to create a great monthly income for this landlord -they will generate a monthly income of around £400 in their pocket- and their investment will be growing in value. This investor is based overseas so will likely never even set foot in this flat and has not had to get their hands dirty. We source it, get it rental ready, furnish it and stage it – then find a tenant super quick. Job done.
Do you want to create a passive income from a rental property? I can help – message me!