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Any thoughts regarding this area for a BTL will be appreciated.
Thanks in advance
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
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?
It is LS10. I am looking for a 1 bed that will achieve 6% yield.
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
Check this thread out before you rely on One and Only Pro`s website figs too much .
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
Jonathan Clarke. http://www.buytoletmk.com
Here is a link :-)