Friday, 26 September 2014

13.5% Yield on Tythebarn St, Darwen - No Brainer says Paul Ainsworth Lord - Darwen Property Expert

Just had one of my landlords call in to the office today to ask me about a nice little potential renter on Tythebarn Street here in Darwen. Luckily, the girls had just brewed up so his timing was bang on for a brew. (they're always brewing up - must be the nice coffee!)

It's one Deborah's selling, so I buzzed her down to get the info on it and sure enough it looks like a nice little deal.....

Landlord Investment Property from Ainsworth Lord Estate Agents in Darwen
Tythebarn Street Darwen Reduced by 16.7%
Reduced by 16.7%

Having had a couple of reductions, and down to just under 40k today, it sure does look like a nice little job.

  • £49,950 16.7% Reduced on: 11th Jul 2014
  • £44,950 10.0% Reduced on: 17th Sep 2014
  • £39,950 11.1% Reduced on: 26th Sep 2014
He asked me if it would rent as it was, or would it need some work? But checking the pictures, the house doesn't look to bad at all. However to pull in a decent rent, and attract the right (or best) sort of tenants, I told him that if it was one of mine then I spend a few quid putting in a new kitchen, but other than that it looks good.

I told him providing he did this then I would expect to pull in a rent of around £450, which is just a bit less rent than the £495 I got for a minter just across the road on Kay Street in Darwen. All things being well if he did buy it and we got £450 for it this would mean a yield of 13.5%. However if he was to spend a few bob more on it, by doing some modern decorating and adding a few nice finishing touches to it, and we then got £495 for it, then blimey that would pull in a yield of just under 15%

Needless to say he wanted to book a viewing. 

If you see anything that looks like it might be a decent deal, why not ping me an email or call in for a brew to discuss it. 
Yields like this are all around Darwen and are offered for sale by many of the estate agents in Darwen. But in order to get this kind of yield you do need to know some of the tricks of the trade.... the money is in the detail, is what I say, and you need to be using the best letting agent in Darwen (sorry couldn't resist!) :-)

You know where I am.... in the nice friendly Estate Agent's office in Darwen - right in the town centre, parking is always easy too.


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