Need Help : Best Buy To Let Areas in Glasgow?

fns606

Hi 
I am looking forward to invest in smaller properties (Studio/1bed/2bed max) for rental income.
I have seen many ads where the property values are from 40K to 60K and generating 12% Gross ROI.
I am interested to explore the properties and buy one or two. 
Need serious advices from experts which areas to target for such smaller properties and any do's and don'ts.
Would highly appreciate your help.

user1977

Can you point us towards them? Properties at that low a value tend to be either in the sort of markets where you're more likely to have "problem" tenants, or in rather odd investment schemes ("buy" one room in a student accommodation block etc).

Herzlos

I think you'll struggle to find a flat anywhere near Glasgow for £60k that isn't a wreck. On Rightmove now the closest is in Paisley and that's offers over £60k.

I guess £600/month rent on a £60k flat would give you a 12% yield, but that seems optimistic, it's probably £400 or less.

These places would be far too far away from the city centre to appeal to students or commuters, so not a huge demand.

But if you're looking for advice at that level, you need to be going and doing a lot more research, and paying a financial advisor.

ReadySteadyPop

Byres Road, probably won`t be 60k though.

ReadySteadyPop

fns606 said:

Hi 
I am looking forward to invest in smaller properties (Studio/1bed/2bed max) for rental income.
I have seen many ads where the property values are from 40K to 60K and generating 12% Gross ROI.
I am interested to explore the properties and buy one or two. 
Need serious advices from experts which areas to target for such smaller properties and any do's and don'ts.
Would highly appreciate your help.

 The BTL bubble popped some time ago, ads promoting fantastic yields for little money down are probably a scam aimed at vulnerable "investors".

_Penny_Dreadful

fns606 said:

Hi 
I am looking forward to invest in smaller properties (Studio/1bed/2bed max) for rental income.
I have seen many ads where the property values are from 40K to 60K and generating 12% Gross ROI.
I am interested to explore the properties and buy one or two. 
Need serious advices from experts which areas to target for such smaller properties and any do's and don'ts.
Would highly appreciate your help.

I’m going to guess that these ads are for one of the many, many private student accommodation blocks that are popping up around Glasgow. Personally I wouldn’t touch them with a 10’ barge pole as you will be very limited as to who you can let to and who you can sell to when the time comes. 

£60,000 isn’t going to buy you much, if anything, in Glasgow itself, not even an area such as Govan.  You might get something in a less salubrious part of Renfrewshire, North Lanarkshire and possibly parts of South Lanarkshire for £60k.