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Is buying a repossessed house a good investment for buy to let?

Asked on Mar 17 2014, Renting in Ilford | Report content

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  • Hi sunthar, If you are able to get a home for cheap, as you can often do with repossessed homes for sale in property auctions, it can be a great investment option for the buy-to-let market. Rental demand is high at the moment, which means that prices are up for landlords, and this gives you a very good yield on your rental investment. Therefore if you are able to buy a formerly repossessed property at a cheaper price then your returns will only be better. What you need to consider, though, is how much work you will need to carry out on the home. If you are buying at auction, for example, make sure you weigh up the price against what you are going to be spending and then work out whether you will be able to make a decent income to make up for this. Many thanks, Scott

    Answered on Mar 18 2014, Report content
  • Simply put repossessed properties are usually cheaper than market value and are excellent for buy to let purposes. With the recent buying frenzy a repossessed property at a less than market value could be a good bargain!

    Answered on Mar 18 2014, Report content

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