Sell my propery - rent - but buy to let with proceeds.

1957999

getmore4less wrote: »

I am sure most place do but how many have 20%+ yields.

Students could almost buy a place during their time at UNI.

A few get together max out their student loans get a bit of help from bank of M&D and hey ho.


Looking at our town room based lets seem around the same price £70-£80 or upto £100 inc bills.
Cheapest houses
Studios/1beds £60k-£100k
2bed £100k+
3bed £130k+
4bed £160k+ (these are rough parts of town decent stuff is more like £280k+

Found one investor 3/4bed sell at £165k with a £1200pm income so an 8% gross.

There is a 5bed house share which is looking for around £80pp cheapest 5bed is £270k so that is grossing around 7.8%

There is also a much larger HMO refurb for auction, at guide before repairs will gross around 10%

With more research and a deal I would think 10%-15% might be acheavable.

Are you in the South of the Country - as this would seem to be the difference.

In some parts of the North you can get a 3 bed semi, for around £50.000, might not be the best areas but for rental purposes its profits that count!

Someone was telling me that they picked up a 3 bed terraced in the Newcastle area (rough area) at auction for £29.000 it needed a new kitchen and bathroom (which cost them £1500 in total) and the house is being let for £490 a month....long term investment, but more than if you stuck that money in the bank.

Thanks