It was a very sad day when my mother said to me… ‘Gemma, Money doesn’t grow on trees!’ and in natural Gemma style I thought ‘pah, I will show you Sally!’
I am to this day still looking for a money tree and a four leaf clover (as I never did find one of those either) but I have found my own little money maker… money tree.
I soon learnt, after living in London for a few years that money does grow in property. In houses, not in my bank account, but I never ever thought I would be able to get on the ‘so called’ property ladder or to be a Landlord. That was a dream. But I am very pleased to tell you that I am both… and money makes money. Property really is the safest place to invest and let me show you another little GEM (get it!?) that has appeared online with PURPLEBRICKS!
As I mentioned in my last article I am getting a lot of calls from people all over the country that are looking to invest their money in Stockport and I think that this property could be a fantastic option.
‘Where is it?’ I hear you ask… Well, it is just off the M60 at Junction 27 on a road called Carrington Road which is close to the popular Vernon Park area and the Woodbank Memorial Park. This mid-terrace house has three good sized, double bedrooms, an open plan kitchen/dining area and kitchen and a lovely shared garden at the rear of the property. The property has recently been refurbished, so it has a new, modern high gloss kitchen and a lovely neutral bathroom. It has also been painted neutrally throughout so it would appeal to most tenants looking to rent.
The property is being marketed at an asking price of £117,500 and for a property of this stature I think it could potentially rent out for £700 Per Calendar Month. This would mean a rental yield of 7.15% which is a great return on your initial investment!
The current owners bought this property exactly 12 months ago for £65,000 so I think that there may be a deal to be done here on the price to, for someone who is either a cash buyer or chain free! But don’t forget… there is potential capital appreciation here too!