As long as the figures stack up, we feel that all property types need to be considered!!
We fully appreciate that a freehold house can be an easier option with no common areas to consider or confusion of who is in charge of particular aspects of the property. However, sometimes you come across an absolute cracker of a flat which cannot be disregarded. Cosmo Grace Property sourced a 2 bedroom, first floor Tyneside flat which was purchased for £35,000 on behalf of a joint investor client. As with all the properties we source, we look for properties where we can add value and this was no different. After a full refurbishment, we offered the property to the rental market and started to receive a rent which generated a generous 12.4% yield!! After six months of owning the property, the refinancing process was started and the property valued up at £60,000 giving us a whopping 563% return on the capital employed!!