I know, its been a long time, but as always, when I take a small break, I always come back with something amazing for you!!!
Check this one out..
Marketed by Barnard Marcus, this 3 bedroom house may not look like anything special to the untrained eye, but to someone who looks at this stuff all day long, its a GOLDMINE!
Based in a fantastic location, close to the stations and perfect for a HMO conversion.
This is how you are going to possibly achieve over 11.58% yield on this property…
- Turn the living room and dining room into bedrooms
- Turn the garage into a single bedroom
- Extend above the garage giving you 2 more double bedrooms
- Perhaps turn the smaller bedroom upstairs into another bathroom.
That gives:
6 x double bedrooms
1 x Single Bedroom
2 x Bathrooms
1 x Kitchen
1 x Garden
1 x Partridge and a Pear Tree
Lets say each double bedroom goes for £600 (furnished) and the single for £500.
So…
Rent: £5100
Purchase Price: £425,000
Yield: 11.58%
Link to property: http://www.zoopla.co.uk/for-sale/details/38523669#7gzYPDdC6KDTP4cJ.97
That is happy days!!!
And when you come to rent it all out (or sell it), you will come to me won’t you. 🙂 Great!!
