AUCTION ALERT!! Directly Opposite Milton Keynes Hospital, 3 bed terrace, £140k guide price, 8% rental yield

Another auction gem coming up on 1st November - don't delay, these properties are great value and always let well......

Although this is located on an older housing estate, it is literally opposite Milton Keynes Hospital, and being a larger house over 3 floors it could be utilised in several ways. Firstly you could let it as a single-let family home and achieve a rental of around £930 PCM or 8% yield, very attractive in its own right. Another option is to break it down into a HMO and possibly let 3 or even 4 individual bedrooms out for £350 PCM, considerably more income is to be made like this but of course the wear & tear would increase, as could the amount of management and hassle you would have, but for some investors this is the way to go.

With a guide price of £140k, I would not suggest paying much more than this, as the market level is already around that price today, and don't forget you will need a budget to restore and refurbish the internal living space, possibly with a kitchen, bathroom, central heating and decoration. As a guide, I would budget for up to £10k worth of works, simply because you can't yet see the inside and it is best to look at the worst case scenario and be prepared for a lot of work and then be pleasantly surprised if it isn't needed.

I will regularly post what I consider to be great buy to let deals across Milton Keynes and surrounding areas on this blog 3 or 4 times a week, irrespective of which agent they are being marketed with. Maybe you should subscribe and be kept up to date?

If you are thinking of getting into the buy to let property rental market as a new investor and don't know where to start, or you would like some impartial advice and guidance to get the best return on your investment, call me now on 01908 373580 or pop along and speak to me in person at our new offices in Central Bletchley, Milton Keynes.

danielle@inspiedagents.co.uk