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| Get in there first. |
I've just heard about a property that's being sold for one of the banks and will be coming to the market very soon, and it's a cracker! (in more ways than one)
Double Wammy - New official straight talking term!
A 'Double Wammy' property (in my speak) is a property that offers a potential 'Double Wammy Return'. Put simply it means there's an opportunity to get (at least) two lots of rents from the one unit.
Given that this little baby is a shop with a flat above means you can rent the shop out to one tenant and the flat to someone else. Of course, there's nothing stopping you renting both parts to the same tenant. Either way, you'll get more rent by renting them separately than as one unit.
Super Yields & More Equity- we all want some of this.
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| It's all about the money! |
But not only that, it also reduces your income risk (and cash flow) as an investor. Which put simply means if one of the units is empty at least you'll have the rent from the other one.
And there is a second 'Double Wammy' with these properties too... once you have done the refurb work, the banks will value them much higher than you expect, especially if you have good tenants lined up or in place. Trust me the valuations will surprise you. The double wammy here being the equity you can create.
Silly Asking Price?
You'd think that properties like this would sell for silly money - a high price that is? Well, the reality is that they don't tend to fetch good money (usually).
The reason being.... most people are put off by ignorance and fear of moving out of their comfort zone, the need to find bigger deposits if borrowing money to make the purchase, and they do often cost a few quid more to refurbish.
But don't let any of this put you off. It's not a scary as it seems, in fact it's dead easy and if you have someone (like myself) that's handled plenty of these kind of jobs it's easier than ever.
So where is it?I could hear you asking this....
Well, all I can tell you just now is that it's in Darwen (south side) and in a good renting area and the shop has been a shop as long as I can remember.
How much will it be?
Well an obvious question and quite right too.
I don't know how much it will be at the moment, but my sources tell me it will be 'right money'.
Remember, this property is not on the market yet.
You can be the first to view it.
Interested? (You should be)
Best thing to do now would be drop me an email to paul@ainsworthlordestates.com stating your interest. Don't forget to give me your phone number etc so I can call you once I have a bit more info and can get you one of the first viewings.
However, if you want to have a chat about this and other deals I hear of before they come to the market (and some don't always come to the market) why not call in for a chat and a coffee so we can discuss what you're looking for?
Or you can ping me an email or give me a ring....
You know where I am...
Ainsworth Lord Estates
49 Market Street
Darwen BB3 1PS
(My office is opposite Boots Chemist in the town centre, there's plenty of easy parking)
my email address is:
paul@ainsworthlordestates.com
Tel: 01254 760660
Make sure you register for my regular emails with details of deals in and around the Darwen Area, and updates (top right hand corner of page).
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