LATEST PROPERTY DEALS

Dalmarnock Road, Glasgow, G40 4NB

Market Value: £80,000 Net Price secured at: £65,000

Key Points:

• 15,000 of equity on completion
• Excellent cashflow
• Attractive property
• High tenant demand

Key Figures:

• Total costs = only £1,500 buying costs plus £16,250 deposit.
• And you get around £15,000 equity on day one!

The Property:

This two bedroom top floor flat provides spacious accomodation and includes a lounge, kitchen, two double bedrooms, family bathroom and balcony. The property is attractively decorated throughout and further benefits from Gas central heating and double glazing. All furnishings and appliances are included in the sale and this will further enhance the properties rental potential.

The Location:

This property is set within the primarily residential area of Bridgeton in the east end of Glasgow and is well serviced by a host of local amenities including: local shops, supermarkets, recreational facilities at Glasgow Green and is only 2 miles from Glasgow City Centre with excellent transport links. The east end of the city is currently benefiting from the vast investment and regeneration ahead of the 2014 Commonwealth games. 

Purchase Figures:

• Valuation: £80,000 (already valued by RICS valuer)
• Price Negotiated: £65,000
• 75% Mortgage: £48,750
• Deposit Required: £16,250 (based on 25%)

Buying Costs:

Allow £1500 for your legal costs, plus survey cost.

Ongoing Monthly Cashflow:

• Rental Income: £450pcm
• Mortgage*: -£177
• Management: -£53
• Insurance: -£16
• Profit: £204pcm

*Mortgage based onBM 75% LTV 1 year tracker @4.35%

Summary:

So to be clear, on completion you will have a property with £31,250 of equity - based on value of £80,000 and mortgage of £48,750 - for an investment of around £16,250 i.e. an instant 92% return on your investment and strong positive cashflow!

You also have the option to refinance in 6 months at the higher value, and take further funds out if you choose.

To reserve this property – email us here or call us on 01159 853 963.

Pinkerton Avenue, Rutherglen, G73 1HT

Market Value: £95,000 Net Price secured at: £76,000

Key Points:

• Market Value £95,000
• Investor Price £76,000
• Discount from Market Value 20%
• Estimated Rent £500pcm
• Rental Yield of 8.42%

Key Figures:

• Allow £1,500 buying costs to cover legals and survey, plus 25% deposit i.e. £19,000.
• You get an instant £19,000 of equity on day one, so 100% return on investment!

The Property:

The property is a three bed mid terraced house in Rutherglen. It comprises of hall, kitchen, lounge, bedroom1,2 & 3, bathroom and on street parking. It also comes with double glazing and gas central heating via a combi boiler.

Internally the property is in good condition although some minor work will be required prior to letting that can be organised for you on completion - we always would suggest investors allow up to £1,500 to tidy-up any property prior to letting.

As with all properties of this type and age there will be general wear and tear both internally and externally. We would always recommend buyers allow £1,500 for any points that may be raised on the survey or for general maintenance that may be required prior to letting.

Both the electrical & Gas installations have not been tested however the property has been occupied and no faults have been reported by the vendor. Please be aware that post completion testing of both the electrical & gas installations will be required prior to letting, this can be organised for you through your management company.

Please note that information on the pages on this website do not constitute regulated financial advice, which recommends a course of action based upon the specifics of your personal circumstances.

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