Bargain properties high yield but do I take plunge in sub-prime area?Make Text Bigger
I’m a bit of a novice but what are everyone’s thoughts on buying properties at 35k/40k with a rental value of 350-400pcm? You might be able to guess the area from the price tag but these are post-industrial, highish unemployment etc areas.
I’m going into this with open eyes – terrible tenants, damages, relatively high fixed costs on purchases, low rent vs repair bills. Even so the yield and potential to build a smallish portfolio looks good to me.
The alternative would be a single classic student property BTL. This is not looking very attractive to me because of the new tax rules and interest rates. Thoughts?!
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