My first investment

[mason preedy 0]

Hi guys  I have just leaped into my first investment with a standard BTL property in Salford, Manchester.  Was wondering if anyone on here has any knowledge of the area and any thoughts on the deal. I managed to get the deal slightly below market value.  I have attached the right move link below. Any feedback is welcome.  http://www.rightmove.co.uk/s6p/61096188

Cheers Mason

Edited April 25, 2019 by Rob D
Fixed URL

[DerekT 216]

Congrats Mason! 

I'm not familiar with the M6 area so only basing on a quick Rightmove and Mouseprice search.

Looks like a solid property that just needs a bit of modernising. 257 on the same street sold for £170k in Feb 2019 but that looks a bit more modern from the photo. 

Rental wise there's a few within a 1/2mi radius that let and also currently being advertised, ranging from about £695 to £825 pcm. 

[dennis hughes 60]

On 4/23/2019 at 8:03 PM, mason preedy said:

Was wondering if anyone on here has any knowledge of the area

Congrats Mason on your investment.

For your next one, maybe research the area first? Really not trying to be harsh, but have read so many posts on here about the importance of knowing the area you are investing in.

Hope it all works out.

[brad sherwin 6]

On 4/24/2019 at 9:01 PM, dennis hughes said:

Congrats Mason on your investment.

For your next one, maybe research the area first? Really not trying to be harsh, but have read so many posts on here about the importance of knowing the area you are investing in.

Hope it all works out.

Yeah, that is kind of scary 

Mason, how did you choose this property?  I'm assuming you're the same as me - a distant investor.  I'm struggling to decide which city, yet alone an area!

[mason preedy 0]

On 4/24/2019 at 9:01 PM, dennis hughes said:

Congrats Mason on your investment.

For your next one, maybe research the area first? Really not trying to be harsh, but have read so many posts on here about the importance of knowing the area you are investing in.

Hope it all works out.

Hey,

Thanks for your input. No offence taken.

I have visited the area a couple of times and viewed a number of properties as well as doing all the standard research on rightmove. I also worked through the video on the property hub about getting to know an investment area.

I have a basic knowledge of the area I was just hoping that someone that is an experienced investor in the area might be able to provide some further guidance.

Being a first time investor I thought it would be beneficial to open the question up to the forum and get peoples opinions.