I hope you are all well.
I spotted this one on the market with the mighty Martin and Co, Oxford which jumped out at me for all you investors out there. Ok, ok so its my agency. A bit of shameless advertising I know but if it works then it works right?!Currently on the market for £320,000 this property would fetch around £1195pcm on the rental. Now it has always been my tendency to edge as close to the 5% mark as possible, but if you give consideration to all the elements in the equation it is not the only thing that matters. If you are going into a new investment project with a long term plan then this can absolutely work for you (assuming my projections are correct!)
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| TURNER DRIVE, OXFORD |
It is too early to anticipate with the greatest of confidence what the property prices will do here as it is a new development. There are a few sold in this location and even in the early stages because it is new build but you only have to look to new build history to see how things tend to develop.
Nursery Close, Botley was a new development built in 2009 with number 36 Nursery Close selling from new build for £199,950. on the 25th Jan 2016 it sold for £291,000. During this period the rental achievements have gone from £995 to £1250pcm as well.
Put plainly you simply need patience. Not many investors get into the game with a short term plan so for the greater majority of you this really does work.
Obviously there is nothing that needs doing to this proeprty either so additional outlay would not be necessary.
Call me for more on this and others.
Best regards
Richard
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