BTL Deals of the Week #6 - incl. one with an incredible private terrace!
Scouring the market for quality investments can be daunting and, at times, overwhelming. In this week's Buy To Let Deals video, Kristjan reviews three listings, one for each of the price brackets set out: up to £500k, £500-750k, and £750-1m. Kicking off this week’s video is a property in Bow, 2 beds with 2 baths in a period conversion for an impressive price of £400k. Next up is a 3-bed in Stratford with a large private roof terrace, and finally we have a beautiful 3-bedroom house in Stoke Newington which looks ready-to-go!
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Up to £500k
This property on Bow Rd is a 2-bed 2-bath property – despite being only 600 sq.ft the property is well laid out ensuring there are 2 proper double bedrooms in place. The lease is comfortably over 100 years which is great, and all this in a period property. I would expect this property to achieve in the region of £1750 pm. From the photos, the property looks ‘ready-to-go’ so an easy purchase enabling a quick tenancy to be placed thereafter. Establish the Ground Rent & Service Charge costs and then get a viewing booked in asap- 2 beds for £400k aren’t common!
Located in Sky View Tower in Stratford is this great looking 3-bed apartment with a large private balcony/roof terrace. Admittedly running costs are high with Ground Rent & Service Charges costing around £5500 pa (which you will have to pay - this cant be passed on to tenants)- but the fact this gets your tenants a concierge, gym, roof terrace (communal, to supplement their private) and business facilities should see the rent peak as a result. Furnished right (and this must include furnishing the private terrace well) should see this property achieve somewhere in the region of £3500 pm. No lease worries here as it’s a ‘virtual freehold’ with 984 years remaining. Get your bids in quick!
Located in the ever-desirable Stoke Newington area is this spacious 3-bedroom house. The property measures around 1000 sq.ft and has a great private garden and good living area- to complement 3 decent bedrooms. This should prove highly desirable with the mid/high-income families always looking for homes in this area and I’d expect to see a rental income of £3500-4k pm if dressed and marketed right. A ready-to-go property with great entertaining space & plenty of character. Get your foot in the door and get your offer in before the other bids get too carried away!