The thing with Ballymena is, there really are no jobs apart from a few big factories.
Lots and lots of BTL there though.
Do you mean these dodgy 3 bedroom houses sale agreed a few days ago in the Ballymena area?
House 1, 3 bedroom house £50k DHSS tenant £94.33 per week £4905 pa + rates @ £608 pa total £5513 pa Gross yield 11%.
House 2, 3 bedroom house £48k DHSS tenant £94.33 per week £4905 pa + rates @ £376 pa total £5281 pa Gross yield 11%.
House 4, 3 bedroom house £40k DHSS tenant £94.33 per week £4905 pa + rates @ £645 pa total £5550 pa Gross yield 13.8%..
Minimum gross yield of 11% assuming the property sold for the asking price,sounds ok to me. But I would buy at auction or direct from the bank (i've been offered a few like for around £30k ish each.
As for lots and lots of BTL's in Ballymena. There's no more than in other similar areas.
Larne Area 58 available
Ballymoney Area 63 available
Ballymena Area 65 available
Carrickfergus Area 73 available
Coleraine Area 381available (big student area)
This post has been edited by S S: 02 November 2011 - 01:17 PM