£85k for 3 bed semi on Snape St (Top End) not bad? Refurb Renter opportunity here with Proctors - Estate and Letting Agents in Darwen, spotted by Local Property Expert - Paul Ainsworth Lord

Should I. Shouldn't I?

Finding decent refurb deals is getting harder and harder. Its famine or feast with these.

Now, this isn't a brilliant deal, but it's got potential..... as they say.

We've done loads this year for various clients, and helped many others with their own... just keeping them straight with a few tips here and there....

Could this be one for you?


Take a look, here it is, just click the link:

Potential Refurber to keep and rent out

3 Bed Semi Refurb & Keep?

It's not been on very long, and I doubt they'll be queuing round the block to snap this one up.

No Money in this? Or is there?

Most of the refurb investors/buyers like to get in do the work and get out again, take their profit and move on to the next one.But for these guys thee is no money on it when you look at what they bring when done up.

Here's Another Angle...

UNLESS however, you're one of those that is happy to buy, refurb and keep it and rent it out. If you are then this is probably one for you.


Purchase Price is £85k
Needs a healthy spend.. so lets say £15k
Stand you at £100k .

Rental income from his probably £600pcm depending on finish.

Yield: 7.2% 

That's not bad, given you shouldn't have (hardly) any maintenance going forward.

If you were down south you could get caught up in a fight for this sort of yield. Have I got you thinkng?

Second Opinion?
If you want to have a chat about this in more detail or hear a second opinion, why not give me a call or bob in for a coffee? I'm always happy to have a chat.... no obligation whatsoever..

Paul Ainsworth Lord
Local Property Expert

Ainsworth Lord Estates 
49 Market Street
Darwen
Lancashire
BB3 1PS

Tel: 01254 760660

or ping me an email:

Paul@AinsworthLordEstates.com

Buy to Let investment on Percival Street Darwen 8%+ Yield Full Refurbed, offered by one of the Estate and Letting Agents in Darwen, highlighted by Paul Ainsworth Lord

This looks interesting, neatly refurbed garden fronted terraced property in a pretty decent spot on Percival Street in Darwen.

It's up with two agents at the moment, one of which is our friends down at Proctors.

It's been up for a while, listed initially in July with one of those online agents, at £75k. Needless to say...... they didn't cut it and had to recruit a local agent (we see it all the time).


FULLY REFURBED - READY TO RENT

Anyway, Ive been in this one, I had a nosy whilst the contractors were in there doing the refurb. Which seems to be a nice neat job too.

Here's the link to it..

Percival St. Darwen - 3 Bed Terraced REDUCED in PRICE

REFURBISHED 3 Bed Terraced

New Kitchen etc

THREE BED TERRACED - IN SHORT SUPPLY

It's a pleasant 3 bed, garden fronted terraced property and finished pretty well. Its in a good spot.

If we were going to offer this for rent I'd be happy if I got £495 for this 3 bedder, and still... 3 bedders are in short supply... everyone's after them!

Having been reduced by a nice fat 5k bringing it down to a tender £69,950 I think it's a decent buy.

So let's look at the numbers....

PP - £70k
Rent- £495pcm x 12 = £5940
Gives a healthy gross yield of 8.5%

Pretty Good eh?

Other things to consider.... how will it appreciate in value going forward? And what are the pitfalls to this street?


Happy to have a chat with you and offer a second opinion should you be thinking of purchasing this one...

You should know where I am by now....

Paul Ainsworth Lord
Local Property Expert


There's plenty of parking near our office

Ainsworth Lord Estates
49 Market Street (In Town Centre)
Darwen
BB3 1PS

Call me on 01254 760660

or ping me an email...

Paul@AinsworthLordEstates.com

I'm always happy to break off things to have a brew and a good chat about the Darwen Rental market.
Need to remind me to shut up when you've had enough though... I can talk about it for ages.....

I'll supply the coffee (we only do nice coffee) and you bring the biscuits. Deal?

Up and Running Perfect Investment for Cautious Investor 5% all day long....Chancel Place Darwen already with Letting Agent In Darwen

I saw Debs put this one on the market the other day.. for offers in excess of £130k

It's perfect for the 'very low risk' investor/landlord. It's what I call a second hand newish property.

Its a nice modern property, in a proper good location, that rents very easily. When we tenanted this property it went within a matter of hours and there were loads of folks wanting it.

It's An Easy 5% Yield.

Perfect Investment Opportunity

Perfect! Ready Tenanted with 5% Yield

This type of property isn't really my cup of tea, but I do know lots of landlord investors that only go for this kind of property, and that's fine.

The reasons they like this type of property varies from landlord to landlord, but the main thing that appeals is the fact they are new(er) and they tend to have fewer maintenance issues and it's fair to say that the tenants do tend to stay longer.

Knowing what you want, and what you like is good in this job. It's very important to have a plan in your head of why you are doing what you and what for. (So many people don't have any plan whatsoever).


So if you like this type of property and are happy with a 5% yield then it's worth a sniff.. The tenant is happy to stay and is looking at long term.... couldn't be better? It's an up and running cash machine!

Here are a few more pictures....

Nice Long Lounge

Nice Corner Plot with Plenty Parking

If you're thinking of buying anything like this and want a second opinion, why not pop into the office and we can have a chat. I'm always happy to make you a brew and give my opinion....

Or drop me an email with the Rightmove link of the property you're thinking of buying, to: paul@ainsworthlordestates.com
Tel 01254 760660

Is a 9% Yield up Whitehall in Darwen a good deal? Too right it is!

I'm always getting asked by people which are the best areas in Darwen? So, to someone who has lived in Darwen all of their life, this is a dead easy question for me to answer.

Which are the best areas in Darwen?
The answer is simple, the 3 best areas in Darwen are Whitehall, Sunnyhurst and Boldventure, which is where the 3 parks are. Now don't get me wrong, there are other nice areas too, but you will find these are not so far from the parks either.


So when landlords come to me and ask I am struggling to find properties to buy at the 'right money' in these areas, I tend to agree they aren't that easy to find.

Sunnyhurst or Whitehall?
Anyway, I was having a chat with a local landlord on Monday this week, he's looking for another property to buy and it was a toss up between a nice 3 bedder up Sunnyhurst at 90k (which I always think is an awful lot to spend in a renter round here) and another up Whitehall. So I offered to look at them both online to see which I thought was the better one for him to make an offer on.


He's the sort of landlord who is very clear on his requirements and what he wants to achieve with his property business, which is always good, and I could tell he always favours Sunnyhurst because he has other up there, (an he lives up there too).

Sunnyhurst wins
So after a happy chat I could tell his mind was set on the one up Sunnyhurst and I think he just wanted my comments to affirm his thinking. After our chat he made an offer on the one he preferred, so I'm looking forward to finding him a nice tenant for that one.

But I thought I'd just show you the other one up Whitehall he was considering....

3 Bedroom house, Whitehall Darwen

http://www.rightmove.co.uk/property-for-sale/property-29251488.html

Now this one has been on the market for a while, in fact since 6th February 2014. I haven't checked, but it could have been on with another agent before that.

The asking price isn't too bad for what it is, but the face it hasn't sold in this amount of time tells me it's too much money, and looking at the internal shots taken by the agent, it's clear that a few bob needs to be spent just to bring it upto standard (have a look at it yourself and I'm sure you'll see what I mean).

Anyway, after a minor spend on the right things, I'm confident we could get a nice £550 per month on this little baby, which would mean a potential yield of 9%. Now that kind of yield up Whitehall is good!

If you see some properties you're thinking of buying and just need that extra input why not give me a call or bob down to see me at the office on Market Street in Darwen? Happy to chat about it over a brew (we only do nice coffee).