Monday, 19 September 2016

Fantastic buy-to-let opportunity in Burley with great potential

I've come across this great property on Haddon Avenue in Burley which looks to have some great potential. It's in a great spot which would appeal to either students or professionals. 

The property is in reasonable condition as it is and the advert claims it has a healthy monthly rent per room but I would definitely want clarification as to whether those rental amounts include the utilities as from my experience as it's a house share and from those figures I would imagine it does. You wouldn't want any surprises when it comes to your predicted return. 

It's a 5 bed house but as you can see from the advert, it's only been let to 4 tenants as the fifth room is small so there's currently wasted space. In order to maximise the space I would recommend spending some money to bring the property up to a high spec where you could command a higher rent. I would suggest turning that small bedroom into a either a house bathroom or en-suite for the larger bedroom. I would also suggest knocking down the wall in between the living room and kitchen to make a more open space, fit a new kitchen and update the decor. 

This work wouldn't cost a huge amount; maybe in the region of £10-15,000 and then you'd be able to rent the property out for around £1650pcm. If you were able to get this house for around £150,000 that would then give you a great return of over 12%.

Monday, 5 September 2016

Great house in Burley with a potential of 10% return

This semi-detached house on Burley Wood Lane is ideally located for professional renters. Located in between Burley Road and Kirkstall Road it's a prime location for transport routes straight into Leeds City Centre.

Due to some of the room sizes there is definitely the potential to reconfigure this house and to create a great 4 bed house to maximise the return.

Firstly I would suggest knocking the wall down in between the kitchen and dining room to open up the space and to create an open plan living room and kitchen. The current living room could then in turn be turned into a bedroom. On the first floor I would suggest taking out the current bathroom and toilet and moving it to where the current small bedroom is. This then allows you to use this space to create a longer bedroom and then you could use some of the width to create another bedroom if you also made the current bedroom 2 a little smaller.

To reconfigure the property and to also update the decor with new carpets etc you would be looking at around £35,000. Once updated, a property of that standard and in this area could likely achieve £1,560pcm which is you managed to get the property for around £150,000 would give you a good return of 10%.