Wednesday 29 October 2014

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).

Thursday 23 October 2014

Nice little Darwen cracker here... 20%+ yield

Well, just been checking out what our friends at YourMove Darwen have got on their books, got to keep an eye on the competition :-).... anyway, stumbled across what is potentially a nice little deal here......


Paul Ainsworth Lord Recommends this Investment Property
Great Darwen Investment Property

Dead Duck or Gold Mine?

Letting Agents in Darwen - Ainsworth Lord Estates
Refurbishment Project for Darwen Investor
 Mucky Job?

http://www.zoopla.co.uk/for-sale/details/34852350#ouo8BeQJkqdrRRx7.97

Stuff like this will be seen by most people as a dead duck, or load of hassle. But in my book it's a golden nugget and I'm always looking for properties like this for my clients, and that's another reason I have to keep checking out what the other estate agents in Darwen are getting on their books.

So where's the money in this I hear you ask?

Well first of all, we don't want to be paying 40k for it! It's worth putting in a cheeky offer on something like this. So let's start at 20k (probably won't be accepted, but you never know!) In all honestly they'll probably throw you out of the office... but hey ho! so, I'd expect to pay about 30k for it. Then it's gonna need a decent spend on it of course. I'd budget about 25k for what I'd do.

There is strong demand in Darwen, with what I'd do with this one, and the returns on it are staggering - not just in terms of rental yield, but capital too. (Despite where it is).

So, you might have noticed, I haven't fully revealed where the money is on this one? But if you're seriously interested in knowing more about how I'd monetize this one, just pop in to my office for a coffee and a chat (bring cream cakes!) and I'll give you my angle on it....

My office is in Darwen town centre, just opposite Boots (and YourMove's office).

Well, better crack on and make a few phone calls. I know several clients that should buy this one!

Tuesday 14 October 2014

One of the nicest terraced houses you will see in Darwen

Estate Agents in Darwen




Nice house from Estate Agents in Darwen
Whitehall Darwen


Ainsworth Lord Estates in Darwen likes this property

Our friends at Your Move put this little beauty, up Whitehall, on the market last week for Offers Over £90k. Probably too rich for our landlords, but definitely one for the first time buyers.

Not been inside it, but look at the rest of the photographs .. this wont be on the market long!

Photo's via the Zoopla link here ...  http://www.zoopla.co.uk/for-sale/details/34804142

Wednesday 8 October 2014

Spring Vale Garden Village, Darwen- reasonable BTL investment for nervous landlords

Well, Procters Darwen put this nice three bed semi, up SpringVale, on the market for sale last week for £124,950.

Not the greatest yield, but properties have risen by 71% in the last 11 years .. not bad for Darwen!

Don't hang about on this one .. I have a good feeling about this one!

http://www.zoopla.co.uk/for-sale/details/34722683


Darwen Property from Proctors Estate Agency in Darwen
Springvale Darwen

Saturday 4 October 2014

Laurel Avenue, Darwen - BTL sub-£25k -- PROJECT

Ok, I must declare, this property is on the market with us, but it is a genuine buy to let bargain.

£24,950 for a two bed terraced .. needs everything doing to it

http://www.zoopla.co.uk/for-sale/details/34743427


Investment Project from Ainsworth Lord Estate Agents in Darwen
Great Investment Project Darwen