Hi All,
I made a comment on the BMV FB page and as a result have been offered two properties to buy in swansea. I have heard independently through an Estate Agent that he invests in south wales so thought this might be an area to investigate further.
The properties are coming to me directly from a builder who is flipping them and wants to cash out quickly so he can proceed to his next project. He has offered both at 10% BMV ad suggests that the rental yield will be about 7%.
But properties are a 6 hour round trip for me to view so what can I do online right now to see if this deal stacks up before I get in the car and do a major expedition? (Ultimately I am happy to buy out of my area so long term Im not worried about the distance.)
Assuming I do the standard Rightmove/zoopla checks on local schools, proximity to transport links etc. Assuming I call letting agents in the area to suss out demand and actual rental prices? Any tips on how to word this question?! How can research an area has development potential and future prospects?
Land registery research on the area to see any house price movement over long term? Finally I guess a Hometrack valuation
Are there any other desktop searches you more experienced friends would recommend? I am new to this and very cautious. Oh and of course I need to be quick !
Many thanks
Lisa