9:00 AM, 26th June 2012, About 9 years ago
Thanks to Don Holmes of Go Direct Lettings for providing us with details of a recently completed deal in Liverpool L4, about 3 miles outside the City Centre, an area which Don believes is one of the UK’s Buy to let Hotspots. This particular property produces a gross yield of 13.9% and here’s how…..
The property consists of a 2 Reception rooms, a very nice Kitchen with conservatory on the back. It has been converted to 4 bed rooms with a really nice bathroom and rear court yard. It is on the main Rd into the City with very regular bus service and only 5 minutes from the rail station into town or Southport, The area is well supported by local shops Schools and Queens Drive Ring Rd circling the City is within 2 minutes’ drive. It sold for £60,000 and is achieving LHA at maximum amount for Liverpool; £693 pcm offering a gross yield of 13.9%
Don also gave us another example of a property he will be recommending to a client very soon – a 10 year old 2 bed town house, immaculate, recently valued at £90,000 – vendor will accept £60,000 for a quick sale. Don has a tenant lined up who wants to rent the property for £500pcm – this is a professional tenant. Try running these numbers through our Buy to Let Viability calculator – they make very interesting reading. If you would like to see what financing options are available check out our buy to let mortgage calculator and sourcing system.
Don runs his Merseyside lettings agency with his wife Lyn, they have been in the industry for over 20 years. They have recently decided to franchise the business in order to expand nationally, offering the benefit of their 20+ years’ experience to like-minded dynamic “younger individuals”. As part of this development they are also offering a North West and Merseyside area portfolio development service to investors nationally.
Don said “as any research will show, this geographic area has some fantastic opportunities both in values and yields. For example, I am dealing with a new client who recently sold his business and has retired on a very healthy wedge but would like to spend a million quid, to start with, on investment property to diversify his portfolio and we are instructed to find stock between £60 -£100k. Now that may not seem a lot to the wealthy South but in our parts we can have that return you circa 10% gross”
Contact details for Don are as follows – if you do get in touch with him please mention Property118.com
DE Holmes CRLM Dip
Go Direct Lettings (Franchise) Limited
19/21 Cole Street, Birkenhead, Wirral, Merseyside, CH43 4US
T: 0151 6525142
F: 0151653 6634
For further information please click on the Go Direct Lettings logo to visit their website
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