7% yield on cheap buy-to-let in Chatham

I had another great Tuesday evening at the Property Vault Erith, with Marie Parris speaking from George Ellis Property Services. It was an enlightening event and a great networking opportunity.

What makes the Property Vault different from other property networking events is that no selling is allowed and all ticket sales go to charity. This is why I’m looking forward to hosting the Medway Property Vault from September 27th. We will have great speakers and a great crowd so make sure to put this date in the diary!

Today I am posting about a two-bedroom flat which entered the Medway property market on Monday, and is offered with no chain at £80,000.

Although we are unable to see the inside, the property could let conservatively for £500 per month.
Factoring in £2,400 Stamp Duty, £1,000 legal expenses and estimating a £2,000 refurbishment spend then the gross yield comes in at 7%. Not bad for a cheap buy. 
Obviously costs could differ depending on the interior, so have a look and let me know how you get on!
Hasan

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