Buy to Let deal with a rising Yield!

Happy Friday to you all… To end the week I have this readymade investment property:

It’s a two bedroom ground floor apartment in Southbridge, so walking distance to the town centre, it has a large living room and open plan kitchen, great sized main bedroom, smaller second bedroom, family bathroom with shower over bath and an allocated parking space.  

Looking at the description on Rightmove they are suggesting it can be sold with a tenant who is currently paying £620.00pcm, I really think this rent should be reviewed though to around the £650.00pcm mark at renewal.

Condition wise, the property looks fairly good although these photographs show the property vacant so they may well be old photographs.

Belvoir have recently reduced the asking price on the property to £119,995, so if we work out figures on the current rent price of £620.00 this could generate you a gross yield of 6.2 % straight away. When it comes up to renewal, you could potentially put the rent up, which would increase your return to 6.5%... every little helps.

http://www.rightmove.co.uk/property-for-sale/property-36414330.html 

There are many more properties out there coming to market, which would be a suitable buy to let investment, so if you see a property that you like and would like some advice on it suitability for a rental property, please feel free to get in contact.