Sometimes if you wait, good things happen! I have been watching this property for a bit
now and the price was reduced last week to make it a good value buy.
Today’s buy to let opportunity is a 1 bed, flat on Main
Street, Camelon.
Starting with the negatives. The property is on the busy Camelon main
street above a row of shops and it has a shower room rather than a bathroom
.... so it is not instinctively attractive.
However, and it is a bit however, the flat is in ‘ready to rent’
condition and it is now on the market for a fixed price of .... wait for it
...... £28,000.
Doing the maths. The flat will rent for £325 pcm which
gets you to a 14% yield. At this sort of price and yield, the flat is definitely
worth a look but I would be quick as the new lower price means that I expect it
to be snapped up quickly.
One final thought, most banks have minimum mortgage
levels of, say, £40,000 so the property is likely to attract cash buyers.
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