BTL in Liverpool

[Mamaka]

Does anyone have any tips/thoughts on buying cheap property to let out in Liverpool? We are looking at Bootle/Dingle/Walton. I'm aware of the reputations of these areas.
We have property in another city that we let so have some experience in letting.

Bump!

We do! Great rental yield, although I know it'll be quite a few years before we can sell them on as capit growth won't neay be as strong as in the SE...

Hi bells, which area is yours in? Yes that's what I thought about rental yield, I (probably naively) am thinking that at such low prices it would be difficult to go wrong?

Anyone else have property in Liverpool?

Have you looked at the areas around St.Michaels station? I used to live there between Dingle and Aigburth. Nice area and long term renters, near Lark Lane but not as expensive as the rest of Aigburth/Sefton park area. House prices are still reasonable but seem to be going up quickly.
Failing that have you looked over the water to Birkenhead or New Brighton? The latter is popular due to the new waterfront, but property is still cheap (for now).

Hadn't thought about the Wirral side, mainly because one of the criteria I have for rental property is that it's somewhere I'd be happy living in (just in case we ever need to) and I really do love Liverpool! Might visit though to check it out.
Are there other cheap parts of Liverpool that are improving?

We moved to New Brighton from Liverpool a few years ago, and it's pretty awesome! In terms of Liverpool, I think the new hospital will raise prices in that area (Kensington, Edge Hill etc). Maybe look at the Baltic triangle area too, don't know much about property prices there, but there seems to be a new buzz about the area.

Do you prefer New Brighton to Liverpool? Does it seem popular with renters?
I should probably spend a day wandering about the city's residential areas and getting a feel for them all. What is the Anfield area like now? I looked at a house there years ago and didn't like it at all.

Ours in in Kensington, glad that Crab reckons that it's an up and coming area, we'd kind of bought our flat on a whim (twas v cheap) and hadn't really done any research beforehand! Mamaka yes I think walking around the areas is a good idea, to get a feel for the place

Love New Brighton! Lots of rental properties there in great condition, too.

What kind of price are you looking at?

Not sure Kensington can really be called an up and coming area but house prices in the area have been rising steadily there all the same.

Anfield is poor and run-down.

A relative of mine owns a few BTL properties in Liverpool: Wavertree, Mossley Hill and Edge Hill. Edge Hill was a new build house and has actually depreciated in value since it was bought. The other two have steadily risen. But this relative of mine charges below market rent in all of them as did not buy them for financial investment purposes (or at least not to make money off the rents). So can't really comment on profitability of rent. I guess it would be a lot if they charged market rents.

I would just steer clear of student houses. I have a few clients selling student houses as hundreds of student flats are being built in the city centre.

Around £80k. A quick look on rightmove tells me new Brighton isn't within our budget and actually neither is Dingle!

Mamaka Not sure anywhere outside of North Liverpool you will easily find houses. Perhaps Huyton if you get lucky.

For 80K I meant, sorry.

Yes North Liverpool looking much more likely. Wondering if it is hard to find decent, long-term tenants in the areas we can afford..