Have a look at this recent article by Moneyweek. The author is generally sceptical about investing in residential property. However he has unearthed properties across the north and midlands with double digit yields. The downside is that many of these properties require upgrading and considerable capital investment on the part of the landlord. But for those investors who are prepared to put in the work, the income is there.
Sounds like the good old days to me. You don't get owt for nowt in this game!
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There really are cheap properties up north and not only via auctions. I picked up my newish one bed flat for £60k last year in Manchester, 10% yield. No work needed, just furniture et voila!
ReplyDeletePicked up Manc terraced in May via auction.Rewired/new heating/boarded & skimmed 5 years ago,kitchen extension 10 years ago just needed decorating.£46K its returning 12.5% gross.
ReplyDeleteAs a northerner through and through living in gods country high in the Pennines I strongly protest"grim up north" comment. Ok parts of the northwest are a hit grim, but London ain't all sparkle either...
ReplyDeleteTrue though some great properties to be had up ere