DIARY OF A PROPERTY INVESTOR – DAY 6

As the rental market has grown inevitably it has come in for its fair share of criticism. Not surprising when it is housing over 5 million people. It is clearly a very important part of the housing market and I for one would be the first to support action against bad Landlords. I am sure there are some and it benefits all of us including Landlords if they are removed from the market. But often you see assertions from those pressure groups that seem to just be against the Private Rental Sector in principle which make you stop and think Can that be true?  Recently I did a post about one such assertion by Shelter that 40% of Tenants are in substandard properties. Can that be true?              Click on this link to see my post and some of the response and judge for yourself.

https://www.facebook.com/groups/UKProperryTraders/1796914283886839/?comment_id=1797078103870457&notif_t=like&notif_id=1476904128763292

Meanwhile getting back to my own business I get some more details about the portfolio of properties for sale in Manchester. There are over 22 properties for sale in two lots. They are located in a number of towns to the North West of Manchester in and around Leigh and are in two lots.

They look interesting. The price for 12 is £650,000 so an average price of £54,000. They are not in areas I am very familiar with but doing some research they seem to be better areas than some we are in. The rents are about £5,000 to £6,000 so again not the returns I like but they are all fully let and are said to be in good condition so that you would simply purchase and start collecting rents I am interested in exposure to that market because Manchester is the one area in the North West that seems to be moving. Many areas at the moment are firming but few are moving up significantly. There is a huge amount of investment going into Manchester which will reflect in the suburbs where these properties are. The metro link has been extended to Leigh which is a good sign.

So again showing that it is good to have a strategy but bad to stick to it too rigidly I decide to have a look in the hope that these will be properties with not only a fair yield but capital growth potential.

Leave a Reply

Your e-mail address will not be published. Required fields are marked *