Under £50,000 to invest – what can I buy?21 Nov 2018
Glasgow offers some great low investment buy to let options but it can be daunting knowing where to commit especially if you don’t know the city. This week I thought I would blog about what you can buy for around £50,000 that offers a reasonably secure investment. A budget of £50k is stretching my property finding abilities a little but I love a challenge so here we go..
Normally when I am trying to find a low budget option I look around Govan , Cessnock or maybe switch North of the river and look around Haghill ( a popular area outside just past trendy Dennistoun) There are areas which offer “bigger and better” properties for around that budget but from a rental point of view , its always vital to focus on where demand from tenants is strongest. In Glasgow that means focusing on getting property as close to the city centre as possible – think overseas students, professionals coming to work in the city, close to large hospitals, areas where big employers have headquarters etc.
So option 1 is a wee 1 bed in Govan – this flat looks OK inside – you could probably get it for around £45000, it has a sitting tenant who is paying only £300 per month but this flat could easily get £400. So it may be that you need to wait to increase the rent but it still makes a good buy. It’s cheap, close to the new hospital and the new footbridge which is connecting Govan in the south to the super trendy West End.
Option 2 is a top floor in Haghill – near Dennistoun – it’s fine inside, gas central heating, needs a little TLC but will rent well at £450pcm. Popular with students and young professionals.
Option 3 is another 1 bed flat in Govan – good inside and with a little spend it could get £450pcm. Again in demand area close to BBC headquarter, STV – so a spend of around £55k will get a great yield.
All of these are pretty safe investments without digging too deep
These flats will have constant stream of tenants, with little chance of voids as long as they are kept to a good standard and they make pretty secure investments, particularly those around Govan, given the new footbridge and regeneration around the Clyde side – BBC, STV and Barclays new offices.
Love your comments!