price of pre63 investment property

J

john43ie

Guest
i am thinking of purchasing a house sub-divided into 7 self contained bed-sits.the house is in d6w area.what multiple of the income would a buyer be expected to pay nowadays.
it needs modernising but has heating and is in reasonable condition.
any guidance appreciated.
 
Try working backwards. What is your financing rate? How much of a mortgage will you be taking out (if any?). As a rough rule of thumb your monthly rental income sould exceed your mortgage costs by somewhere between 25% and 50%.
 
thank you johnboy however based on your calculations the price of the house is directly proportional to the percentage borrowed.
could this be so?
 
why does no-one talk to me, i have been checking regularely and am feeling very isolated.
 
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