Why we are Investing in Blackpool Property
Many property investors we are speaking to immediately turn their noses up when they hear the word Blackpool. However we have purchased a 8 unit building all with self contained flats. All flats have separate meters. All lawful compliance with the council. There is a shortage of quality flats in Blackpool. As in everything we try to do, we look for high yields. Besides the 8 unit building we purchased a building in which we have to bring it back to the brick. This property needs everything. However deals like this are the most profitable.
We have been several property cycles and seen recessions….as well as areas go through regeneration. We saw this in Salford and prices have virtually doubled since we started investing there. That is why we are investing in Blackpool. Our goal is build a portfolio of 50 plus flats and sell them through a yield compression.
This is why we are in Blackpool. Many landlords and property investors have failed in Blackpool. The reason is simply lack of management. We know how to manage LHA tenants and these are recession resistant.
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