Came across this listing today (below). Is it a worth while investment? £100k guide price.
The listing
LEASEHOLD MAISONETTE VACANT POSSESSION
By Order of the London Borough of Enfield
Situated in a popular residential area, close to Trent Park and local shopping/ travelling facilities including Oakwood Underground Station (Piccadilly Line).
A Self-Contained Purpose Built First Floor Maisonette with accommodation comprising:
Living Room
Bedroom (One)
Bedroom (Two)
Kitchen
Bathroom/WC
Leasehold for a term of 99 years from 25th December 1959 at a ground rent of £15 per annum.
Entire Vacant Possession upon completion
Short Lease, no problem
The maths
Its no secret that with only 46 years on lease most normal lenders will not lend.
So cash invest it.
£100,000 invested (if can buy for guide)
Rent: £13200 (based on asking rental for same flat few doors down)
46 years means over £600k income
Take out your £100k with saving account interest over first 8 years
Leaves £500k, yes half a million for not doing anything
The twist
Call PropVestment and we will show you how to pull out your full £100k in 6 months and keep the property forever. Free lifetime Income
