Sunday, 3 May 2015

9% Yield on this Property Investment with good capital growth forecast, on Higher Perry Street in Darwen

When looking for Investment Properties to rent out, it's always good to know if there's likely to be some sure increase in value given a bit of time.

But where there's an opportunity to add some instant capital value by making a few modifications or improvements then that makes for a nice bonus!

Let's take a look at this potential earner on Higher Perry St in Darwen:

It's on the market with Eileen at Proctors down the road from my office, and it's always worth keeping an eye on what properties she gets in as there are often a few bargains to be had.

They have it on at offers over £54k and I notice it's already been reduced twice since it went on the market last year (from £60k). Given it's been on a while I suspect it's been overlooked by many, but at this new price I reckon it's not a bad buy.

Let me briefly explain where I see the opportunity in this one...

Without having viewed it, and just going off the pictures, it's obvious to us all that it needs a bathroom makeover. I think it's fair to say pink tiles haven't made a come back yet ;-)
A good tradesman could however re-use the art-deco bathroom suite, but for what they cost and if it was me I'd probably go for a whole new suite with nice modern tiling.

The absence of kitchen photos probably suggests the same.

Then the real to do on this one to add real value and increase the rental income too would be to add a third bedroom. This will involve moving the bathroom to a jubilee bathroom (situated over the stairs) now this sounds like a big job, but to the right tradesman it's not and it's something we do quite often.

So dealing with the above, whilst it will involve spending a few bob it would in my opinion be well worth doing.

The rent would go up anything between £50 and £100 per month (depending on the finish) and the value of the house would jump up nicely too.

So plenty to think about there. And if you wanted me to come along to the viewing - or even view it for you, I'd be more than happy to.

Want to discuss this one some more, or any other you have seen, why not call in to my office for a coffee and a chat. I'm always happy to offer a second opinion.

Or of course... ping me an email..
Tel 01254 760660

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