During 2017 I have highlighted on this blog many properties I consider to be good buy-to-let investments for landlords looking to grow their portfolio, as well as development projects.
Well its about time we started demonstrating some of the results!
And its prompted by the sale (at last!) of Flat 5, 104 Southwood Road, SE9 which has been in various auctions this year.
We recommended it as a potential purchase, for a good rental return, back in June of this year (link here ... http://dansonps.blogspot.co.uk/2017/06/welling-investment-property-of-week.html)
At the time the Guide Price was in the region of £90,000, with a tenant in situ paying £840pcm rent, offering a return of as much as 9%. A very good return, albeit for a small property.
It appears that no-one appreciated the good deal in June and it remained unsold at auction, which I imagine was disappointing news for the owner.
BUT ....
Better news for the new buyer! It was re-listed at auction in September and sold at £61,000. Not a great result of the seller, and I've no idea what prompted such a cheap sale, but what an outstanding buy-to-let return for the new owner. £61,000 outlay, with a return of £840pcm rent, is a rental yield of 16.5% !!!!! Unheard of in my career other than for high-rise unmortageable concrete tower blocks on horrible estates.
Be sure to follow our blog, because if you have money to invest in property, we'll point you in the right direction.
If you are looking for an agent that is well established, professional and communicative, then contact us to find out how we can get the best out of your investment property.
Email me on kevin@dansonpropertyservices.com or call on 020 3397 4499. If you are in the area, feel free to pop into the office – we are based on 116 High Street, Welling, Kent, DA16 1TJ.
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