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Investing in East Manchester

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Hi Everyone, 


Looking for some advice. I have just returned from a couple of days viewing property in Manchester. I am totally new to investing and to Manchester. I found a property in a town in East Manchester called Openshaw. It is a large 4-bed property on the market for £104k. It needs a bit of work, I guess, but nothing major. The rent that can be achieved on this, according to the agent is between £650- 750 per month, depending on the refurb. The Done UP Value of the property is only £115K. So once the property is refurbished I will have paid more money than the property is currently valued at. What do I look at, the great cash flow it is generating or that it is above market value? Thanks Chim

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