We have recently bought a property in swansea for 70k, we have spent 5k on repair's and 10% deposit. We have a tennant in paying us £400 pcm. Our repayments are £251 pcm, How long shall we keep the property to get the best gains out of the house, we are new to this and any advice would help! Thanks
2007-07-09 09:47:02 · 3 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
The rent you are charging is extortinate a figure of around £220 would be more realistic.Its a cheapo property so keep it cannot ever see it losing money.
2007-07-09 14:59:37 · answer #1 · answered by realdolby 5 · 0⤊ 0⤋
first of all you should aim to have the house atleast 5 years before reselling as a prospective buyer will do a little background dig on the house .
second of all you should consider having the whole house interior designed for the sake of £15000 you can make a proffit of around £50000 the title interior designed is a high price tag all my custumers have sold the homes since as the proffit margin hit the roof once the title is added.
Hunt around for a individual firm whom will complete the job from beginning to the end .
If you wouldlike any further help
pierce_banderiezz@yahoo.co.uk
pierce
2007-07-11 15:58:56 · answer #2 · answered by pierce_banderiezz 2 · 0⤊ 0⤋
check out www.npda.co.uk
may be useful info
2007-07-10 05:24:06 · answer #3 · answered by Anonymous · 0⤊ 0⤋