BRRRR in UK?

[John McKeirny]

Hi folks, I'm looking to diversify my BRRRR portfolio overseas. With the UK housing market essentially tanking, it seems like a good time to buy property in the UK. What are your thoughts? I think I found a good property for getting my feet wet, a fixer-upper outside of Oxford, a big student town. https://www.rightmove.co.uk/properties/136959422#/?channel=RES_BUY     What do you think about the place?  Thanks for the advice.

[John McKeirny]

Thanks all. The numbers look pretty good. I got in touch with a local property manager, who scoped out the place for me. He thinks that I will need to invest about 20,000 pounds to refurb, but then I could rent for 1,400 pounds a month. For full management, they take 11%, so that puts me at 1,250 pounds per month. What I did not realize is that the renters are responsible for not just utilities, but also property taxes. So that 1,250 pounds a month is solid AND if I convert to $ that is $1,600 a month. Unless anyone can find a flaw that I am missing, I think I'm going to go for it at the end of the month.