3-bed BTL Newcastle, £50k purchase price, rent £800 pcm

[scooterscot]

Wondering what to do with £50k cash. To my utter astonishment I could buy a 3-bed in Newcastle and let it for £800 PCM.

Am I missing something? The absolute best I could do with that last year on stocks was about £6k, whereas the BTL would have returned almost £10k.

What would you do?

[eek]

Wondering what to do with £50k cash. To my utter astonishment I could buy a 3-bed in Newcastle and let it for £800 PCM.

Am I missing something? The absolute best I could do with that last year on stocks was about £6k, whereas the BTL would have returned almost £10k.

What would you do?

Go on nothing can go wrong.

(Those figures seriously don't add up so something is fishy there). I'll have a look at it if you PM the details as I do know the town.

[scooterscot]

o/o £60k newcastle

Same area £850 pcm for a 3-bed furnished.

I don't get it either. Numbers don't seem to add up. Seems like easy cash. Are tenants in Newcastle a living hell or something?

[MicrosoftBob]

Wondering what to do with £50k cash. To my utter astonishment I could buy a 3-bed in Newcastle and let it for £800 PCM.

Am I missing something? The absolute best I could do with that last year on stocks was about £6k, whereas the BTL would have returned almost £10k.

What would you do?

Blimey I'm renting a place that was on the market at £220k for £700 a month

[scooterscot]

Blimey I'm renting a place that was on the market at £220k for £700 a month

Speaks massive volumes what's wrong with the UK housing market that does.

[MicrosoftBob]

Speaks massive volumes what's wrong with the UK housing market that does.

The difference is that's a 3 bed stone cottage with sea views and a 60 ft stables, I bet the place in Newcastle isn't that nice

[eek]

o/o £60k newcastle

Same area £850 pcm for a 3-bed furnished.

I don't get it either. Numbers don't seem to add up. Seems like easy cash. Are tenants in Newcastle a living hell or something?

The two items are not comparable.... I doubt that flat rents at more than £495 a month..

Still a decent return but not what you think it is...

[scooterscot]

The two items are not comparable.... I doubt that flat rents at more than £495 a month..

Still a decent return but not what you think it is...

Don't invest in areas you don't know perhaps. I could not really tell the difference, albeit apart from the interior quality.

[Jeebo72]

Wondering what to do with £50k cash. To my utter astonishment I could buy a 3-bed in Newcastle and let it for £800 PCM.

Am I missing something? The absolute best I could do with that last year on stocks was about £6k, whereas the BTL would have returned almost £10k.

What would you do?

Bought a studio flat in shawlands 8 months ago for 50k currently rent out at 375 a month. Reasonable return. Doubt that £800 is correct. Got a lot of friends from Newcastle, and that doesn't sound right to me.

[scooterscot]

Bought a studio flat in shawlands 8 months ago for 50k currently rent out at 375 a month. Reasonable return. Doubt that £800 is correct. Got a lot of friends from Newcastle, and that doesn't sound right to me.

Always a con. I've got a 1-bed in pollokshields, £615 a month, I'm just wondering if there's elsewhere in the country I can take the money to make it work better. Glasgow is not delivering the yields I'd like.