Good morning! on my morning Rightmove travels, I came across this good size 2 bed apartment for sale in Sidcup, with a guide price of £250,000 – £270,000. This type of property is exactly what the market needs at the moment. http://www.rightmove.co.uk/property-for-sale/property-42296994.html. The property is on with Mann & Co Sidcup and I would get in touch with them quick as it will not be around long.
2 bed apartments in this area, easily rent out for around 1000-1100 pcm at the moment, so even if we are conservative and base our calculations, you could still be looking at an annual return in the region of 4.8%.
Before you go jumping in feet first, check out how many years are remaining on the lease, a lot of these properties in this area have short leases, this could cost you money in the future when you come to sell it to extend. When buying an investment property, you need to make sure you have your eyes wide open.
If you would like any advice on buying a property to let, feel free to give me a call 020 83006761 or email me direct email@example.com.