How to add value to your buy to let AND achieve a yield of 8% plus28 Jan 2021
We recently worked with a client who was looking to buy a property that she could add some value to before she brought it to the rental market, then find a tenant and start creating a passive income generating a yield for her investment of 8%. The client did not want to get involved on a practical side so engaged a full sourcing service.
Here’s what we found for her:
A 1/2 bed lower cottage flat close to a large hospital in a quiet modern estate – this wee gem also had a private garden and parking making it an unusual find! It needed some work which we arranged and oversaw. This property was purchased late November – we completed the refurb and we have a tenant lined up to move in early February- that’s a 10-week turnaround over the festive period.
|Purchase Price and fees||£86,000|
|Cost to refurb and get it ready to rent
(inc, furnishings, staging and our fees)
|Achieved monthly rent after management fees||£700pcm
We have created a great monthly income for this client, who wanted to be hands off, and increased the value of her portfolio within 3 months. Here are the pics…Do you need help with your rental portfolio?