BTL Investment Property Hull BMV with 9 percent yield and 30% below the market value.
This property was snapped up by one of our investors, if you’re looking for a BTL Investment Property in Hull contact us to book an appointment to discuss our bespoke sourcing options, where we go out and source a property to your requirements.
Letting you get all the benefits of investing in property but without the time and effort usually required.
We can also handle the back end management as well making it truly hands free.
Gross Income £5100 Per Annum
£3000 Sourcing Fee
The property is in good general condition but does require some carpeting and an internal door cost £1k.
2 bed terraced house – Bread and Butter Buy To Let in a great area.
For a short period of time we have managed to secure a great BMV property with a tenant already in place paying £425 per month.
We have a relationship with an agent in the area that could manage the property on an on-going basis making it a hands free set and forget investment.
It’s also in an area that has benefited from a recent council upgrade scheme and because of this has had new facias, guttering and a new brick wall with a gate courtesy of the council!
The internals are in good order.
Buy the property and re-finance after 6 months to recover all of your money out of the deal, then sit back and enjoy the profits.
The property currently has tenants in it that are paying £425 PCM the tenants would look to stay in the property.
The property is in a great location just a few minutes walk from the Hull and East Yorkshire Hospitals and the Kcom Stadium, a short walk in the other direction gets you to the docks and waterfront.
There are a lack of local comparables of similar properties, however the one below which is almost identical and in a similar street a couple of streets away recently sold for £57k
The agent we have spoken to has confirmed the property would be worth up to £60k, we would suggest putting a mortgage valuation in at £60k.
- Mortgage @ 5% = £125
- Management @ 10% + Vat (Optional) = £42.50 pcm
NET CASHFLOW (Managed) = £362 pcm = £4,344 PA
Capital Required to get into deal
- Purchase Price = £40,000
- Deposit @ 25% = £10,000
- Stamp Duty = £1,200
- Legals = £1,000
- Sourcing Fee = £3,000
This property was reserved in 2 hours, to avoid disappointment join our priority investor list.