Saturday, 21 March 2015

9% Yield on Hollins Grove Street from one of the Estate Agents in Darwen

Great 9% Yield in Darwen
I had a lovely couple in to see me the other day, asking me about a property they were
thinking of buying to rent out. 

They're pretty new to the renting game and because they're from out of town wanted some advice on whether I thought the house they were looking at was the right one for them?

They also acknowledged that they didn't know the areas of Darwen very well and wanted to know if this House on Hollins Grove Street was in the right area?
Buy on the right street

Now Hollins Grove St. is a bit of a mixed bag, and it's fair to say, making the wrong purchase on here could be a costly mistake (and it's fair to say that to some degree there are many streets in many towns that this would apply too).

But given my extensive local knowledge and the fact I've lived in Darwen pretty much all my life, I'm in a good position to comment on any street round here. (I love it when the banks ring up with details of a repo property and I can picture the house in my head.. and often tell them what colour the front door is!). I remember disputing with them once about a property that was up with an out of town agent and was supposed to have a board up, yet I was adamant there was no board up - nor had their ever been, and I knew this off the top of my head. Sad or what? (but handy nonetheless).

Anyway, the main good thing about Hollins Grove St. is it's location and with that I mean it's ease of access to the M65, and Darwen in general. There are some nice decent sized houses on here that bring decent rents (we rented a nice 3 bedder not that long ago for 500 per month - which is very good for here.

So.. once we'd done all the pleasantries I brought the property up on my screen, and sure enough it looks like a nice deal, and it's in a good spot.

There are several houses for sale on this street, but they're not all the same and not all in the same section either. However, this house is configured well and appears in very good condition etc... I reckon it will bring a nice rent - we did the sums and if they were to bag it for the right price we can expect it to bring in a nice healthy 9% yield. 

 My Conclusion: A Good Buy 

If you are thinking of buying in Darwen and would like to have a chat just to reassure yourself on whether or not you're are buying right, just drop into the office for a chat.

Or you could of course, give me a ring, or ping me an email...

01254 760660

Always available for a second opinion!

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