Where are the best yields in Manchester/NW?

by Readers Question

8:42 AM, 5th September 2014
About 4 years ago

Where are the best yields in Manchester/NW?

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Where are the best yields in Manchester/NW?

Hello readers – I’d like to draw on your wealth of experience. Where are the best yields in Manchester

I have circa £50k to invest and already have 2 BTL’s. I’ve collected them by accident in that I’ve previously lived in them both and had never intended to let them (until I did!).

I’m interested in approaching this purchase from the other angle. The way I see the question is this: My capital is currently mobile. Where shall I place it for the best return? And what type of property should I target?

I live in south/west Manchester and would like the property to be reasonably local for practical reasons. I’m also an architect by trade and so can design and oversee works to the property and have a good network of local tradesmen too.

All your thoughts much appreciated.

Andrew



Comments

Mark Alexander

8:58 AM, 5th September 2014
About 4 years ago

Hi Andrew

I don't think it is possible to answer this question.

You may be able to identify the best deal you missed last week/month/year/decade but the best deals available today have yet to be done.

Your return on investment will be based on rental profit and capital; appreciation, both of which are market driven. Your rental profit will be based on your ability to find a cheap low maintenance property at the best possible price which attracts the best possible tenants in terms of paying their rent, respecting the properties and respecting their neighbours. What happens to capital values will, to a very great extent, be outside of your control as this will depend on external factors such as how other people look after their properties and ongoing demand for each particular area based on employment prospects, quality of schools etc.

There are no hard and fast rules. If you get higher rental profits it will usually be due to lower capital values or sweating your assets, i.e. cramming as many people into the property as possible. If you and others in the area do this the flipside consequence will impact on the future capital growth potential of the area generally.

My advice would be to buy a nice, small house in a desirable residential area which has very little rental competition but good schools and transport links. Then look for tenants who are in the same socio economic group to the existing tenants.
.

19:55 PM, 5th September 2014
About 4 years ago

Andrew, let me try and answer your question succinctly.
Search the area your looking at - if that's within 20, or whatever mile radius of your home - put your home address into Rightmove or Zoopla ( I'd try it with both )
Search for properties for sale and order by Lowest price.
Select one of the lower priced properties that your interested in, e.g. two bed terrace or whatever.
Then Search for properties to Rent in that street. This will give you an idea of potential yields ( depending on how much you have to add for refurbishment of course.
Chris

Mark Alexander

20:41 PM, 5th September 2014
About 4 years ago

I agree with everything Chris has said above but there is a much easier way to do your due diligence and to access every major website in just a few clicks. See the property section in our main navigation bar at the top of this page. Click Property and then the Property Research Tool drop down. Enter your postcode and hit search. You will then have an area based search on all major websites to check current and previous sale and rental values, crime rates, schools, flood risks, broadband speeds, medical centres, ratings on local pubs and a whole lot more.

Have fun 🙂
.

Giorgio Guglielmino

13:52 PM, 21st December 2015
About 3 years ago

Dear all,

My name is Giorgio and I'm new to property management and this website so sorry if this question is not appropriate. I understand that is very important research the area,rsnting and selling prices before committing to purchase a property, but where Is possible to acquire the data to understand if the area is good for btl or flips? Is there any website where is possible to see the time in the market for sold and rented properties?

Thanks again

Giorgio Guglielmino

Neil Patterson

14:25 PM, 21st December 2015
About 3 years ago

Hi Giorgio,

Please see our property research tool for assistance 🙂 >> http://www.property118.com/property-reseach-tool/

Giorgio Guglielmino

14:27 PM, 21st December 2015
About 3 years ago

Reply to the comment left by "Neil Patterson" at "21/12/2015 - 14:25":

Thank you Neil ?


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