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Key selling points
- 2 bed mid terrace ONLY £60,000!!
- £2000 refurb... then Value up to £70,000!!!
- Deposit ONLY £9000
- High Capital Growth Area!!!
- Great Rental Potential
- IDEAL INVESTMENT OPPORTUNITY
We have sourced a 2 bed mid-terrace property in Blackhall, Co Durham. An area popular with first time buyers and Investors. This property requires around £2000 for some cosmetic improvements. Properties are coming to the market in this area at around £70,000, so there is £8000/£10000 capital to be made on the purchase!! This would allow for a quick re-mortgage and give the money to make another investment purchase!
The property is mainly double-glazed and comes with gas central heating (via combi boiler) and is located within very easy walking distance of all local facilities including shops and School. The floor plan of the property briefly comprises of Entrance, Lounge, Dining, Kitchen, Bathroom (recent suite) and two good size bedrooms. The property should let for around £85-£90/week.
Cash Flow
Purchase price - £60,000
Deposit - £9,000
Rent - £368/month
85% Mortgage at 5.3% - £225/month
Management 10% (+Vat) - £42
Insurance - £15
Net Income - £86
This high yielding investment property will provide a net income of £86 a month, after all costs.
We source more high yielding buy to let deals in the UK than any other company, and have a proven track record. We regularly feature in the property magazines in the UK, and only source in local hotspots where our local finders operate from, and in areas we invest in ourselves.
The North East has excellent rental property and continued strong capital growth offering fantastic value to buy to let investors. As with any property of this type and age we would recommend that investors always allow up to £1000 for points that may be raised in the survey.
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