Double Wammy Tip Off - Shop with Flat above coming to market soon. (I believe it's being sold for the bank). Chances are it will be a bargain, with 15%+ Yield potentially. from Paul Ainsworth Lord, Darwen's Local Property Expert

Get in there first.

'Double Wammy' Tip-Off

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.

It's all about the money!

These types of properties can deliver what's know as 'Super Yields'.

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).

Commercial Investment Opportunity in Darwen up for grabs with Proctors, Estate Agents in Darwen

Investment Commercial Property Darwen- It's got potential....

I don't often highlight commercial properties. But this bobbed up on my radar and I think it's worth a punt.

On the market with one of the Estate Agents in Darwen at a sensible £35k, this mid-terraced commercial property seems right money to me.

Needs a fair bit of work

There is a catch though... I believe it need a good spend on it, as it needs a full refurb. Now sometimes with commercial properties this can be expensive.

Given it's been advertised at an attractive price (some agents do this to get lots of interest) I dare say there will be some serious interest in it and you could end up paying too much for it, so be careful.

Lets's say you paid £45k for it and it needs £20k spending on it.
This means it will stand you at £65. This in turn means we'd need to get a decent rent on it to make it a worthwhile investment. An ideal addition to a portfolio to add some diversity.

Still worth checking out though.

Here it is:

Commercial Property for Sale on Duckworth St. Darwen

If you see anything interesting, let me know and I'll let you have my thoughts...
I'm always happy to offer a second opinion.

Paul@AinsworthLordEstates.com
Tel: 01254 760660

7.5% Return on your money with Natwest Bank, only at the Darwen Branch. Discovered by Paul Ainsworth Lord, Estate Lettings Agents in Darwen

Get 7.5% return on your money from the Darwen Natwest Branch. (or £500 per week)

Well, fellow Landlord Investors, we are always comparing the returns we get from property against what we can get for it in the bank.

 Well this last week I saw the for sale sign go up at our local branch of the Natwest in Darwen, and me being me, wanted to know how much it was up for. I though it mght be an ideal purchase for one of my other Landlords given we have all the flats above, so to have the ground floor as well would work nicely.

7.5% on with Natwest Bank, only in Darwen

 Lot 60 at the next auction

Cheaper than I thought.......
 
Well, to my surprise, to buy the bank wasn't as much as I had expected.

If you check out the auctioneers website and look at lot 60 you will see the guide price is a tidy £350k.

But is it as good as it seems, I hear you ask yourself?

 Is it really as good as it sounds?

£500 Sterling

£500 per week  in rent? Well, maybe, maybe not. It will depend on how much interest there is on it at the auction on the day. 

£500 per week, really?

As we all know auction rooms are somewhat unredictable and it's really a case of who's there on the day in most cases, but no doubt this type of investment is likely to appeal to some of the corporate investors wh like this kind of tenant. Let's face it the chances of the not paying their rent is slim to very slim at best.

What other factors are there to consider then?

I know for sure that with this building there are service charges for the building, and whilst these are not unreasonable they have to be factored in.

Secondly, the insurance for the building has to be paid by the tenants, and when we got the insurance renewal earlier this year it was (in our opinion) grossly over inflated - in fact insured for more than double it's worth. Needless to say we have appealed this.

Don't forget Management Costs

How long is the lease for with Natwest, how are the rent reviews structured, and are there any break-clauses? Who pays for maintenance? etc...



The thing is a lot of these costs are out of the owners control to some degree and challenging any of them is a mighty feat. 

 
So, whilst it looks pretty good at 7.5% should we all be running to the bank to buy it? After management company costs etc (details of which should be in the legal pack - available from the auctioneers), who knows?



The other thing to consider, which you should always have in mind before you buy any property, is the exit? Who would you rent it to next?

I'd say it would make a superb Starbucks!



If you'd like to chat some more about this potentially lucrative investment, why not give me a ring on 01254 760660
or ping me an email to; Paul@AinsworthLordEstates.com
or drop in for a coffee...

Ainsworth Lord Estates 
49 Market St.
Darwen, 
Lancs BB3 1PS