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  • Buy-to-Let

    The dock area - Leeds

    Hello,

    Any thoughts regarding this area for a BTL will be appreciated.

    Thanks in advance

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    I currently invest there, Ashton. Bought 3 units there in the past 3 months. You’re more than welcome to DM me with any queries

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    Hi Ashton,

    Leeds in general has good potential investment properties. What type of property are you looking to purchase and what returns are you looking at achieving?

    Also am I correct in saying that is in the LS10 area?

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    Hi OneAndOnly,

    It is LS10. I am looking for a 1 bed that will achieve 6% yield.

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    Hi Ashton,

    Thank you.

    There are many 1 bed flats in LS10 that can achieve you a potential 6% Yield.

    Here are a few examples:  

             


    If you have any further question please don’t hesitate to ask

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    Hey. Could you let me know what website that is? Looks like it would save me a lot of time of not having to have two Rightmove windows open. 1 looking at sale prices and one at rentals in the area!
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    Hey Woper

    Check this thread out before you rely on One and Only Pro`s website figs too much .

    https://www.propertytribes.com/analysis-...39933.html

    They often exaggerate returns in my view and in the view of other seasoned investors

    They posted rental figs once  on this site for a property in Lily Lane Manchester

    I did in depth research

    The rental figs they gave  were simply not achievable

    They printed a max rental fig for a 2 bed terraced

    But I researched it and discovered that  even  for  a 3 bed semi you couldn't achieve the fig they advertised

    So tread carefully

    Note the yield they give in their 1st advert here is 10.12% 

    The rental yield they give though  is 580 - 725

    So for 580 pcm the yield is only 8.09% . They always only display the higher fig though. Why

    That naturally makes people drawn to the higher fig and think Wow I can get this,  lets go and view

    You may waste your time though as reality sinks in and you realise you cannot achieve that yield

    The mortgage valuer will knock that fig down but that`s too late as youve spent some money by that time  for that valuation . Maybe £300. Also solicitors fees etc. So get your broker to work out affordability on the lower fig if anything never the higher fig .

    But  to prevent that  for accuracy and transparency their  fig in the prominent black box should read

    Yield  8.09% - 10.12% 

    So do your own due diligence please dont just rely on their algorithm which in my view has flaws

    Likewise on the 2nd property the range of yield in the prominent black box should read 11.6% - 14.5%

    And think about it on a cheap 60K property their rental value bandwidth is massive  £145

    Its meaningless really .

    They should surely be able to narrow that range down to about £50 max but their algorithm cannot

    So have a ganders at it but please don`t subscribe unless you are 100% happy with their product

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    Jonathan Clarke. http://www.buytoletmk.com