BTL Deals of the Week #22 - with a surprisingly affordable studio listed at £240k!
Looking for a quality investment can be a bit overwhelming. That's why in this week's Buy To Let Deals video, Kristjan is breaking it down for us by reviewing three listings, all in different price ranges: up to £500k, £500-750k, and £750-1m. So, whether you're a first-time investor or a seasoned pro, you'll find something that fits your budget.
First up, a studio with a garage priced at just £240k, a steal considering it should achieve rent of £1200-1300 per month, with the added bonus of renting out the garage separately.
Second on the list is a beautifully furnished property listed by Modern House that would be an excellent case study for achieving top-market rents.
Lastly, a sprawling 4-bed surrounded by greenery in Burgess Park, offering quiet and peaceful surroundings; a rare find in the capital. Let's dive in and explore the opportunities!
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Up to £500k
I can’t remember the last time I saw a half-decent London property for less than £300k! So this studio with a garage at £240k is a steal! It should achieve £1200-1300 per month rent and a strong likelihood you could let the garage separately for another £100+ a month. Caution over establishing Ground Trent & Service Charge costs and, with 91 years left, a lease extension is going to be required for a future sale. Otherwise looks ‘ready to go’.
£500-750k
Leyton, E10 - The Modern House
Properties listed with Modern House rarely disappoint. I’ve always been an advocate of beautiful homes achieving top market rents and this would be an excellent case study. A stylish, practical interior I would expect to see a property of this calibre let for around £3k per month however you may need to furnish this in a similar style/standard to achieve that. Lease is short at 90 years but Share of Freehold protects you from this becoming a major or particularly costly process to resolve. Interiors of this specification would also lend themselves strongly to short-term letting subject to local licensing requirements.
£750k-1m
Burgess Park, SE5 - Right Now Residential
This sprawling 4-bed is surrounded by Burgess Park offering quiet, peaceful security and the rare benefit of green surroundings in this buzzing capital. I’d expect to see a property like this achieve around £4k per month. Freehold with a small annual service charge and around 1600 sq ft (150 sq metres) this is a fantastic opportunity. This could be let ‘as is’ but there is also an argument to up-spec/modernise the kitchens and bathrooms to future-proof them for the next 15 years or so. I’d also be inclined to invest in the garden to make that a practical, low-maintenance space that can be used all year round.
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