Saturday 28 February 2015

Another 10% Yield on Sarah St Darwen. Nice Opportunity for New or Experienced Investor

I posted about a different property on Sarah St in Darwen a couple of weeks ago, well here's another to look at.

Same sort of numbers and equally attractive if you're looking to build a portfolio of bread and butter renters with a decent yield and steady capital growth given time.

This one is up with our friends down the road at Proctors Estate Agency here in Darwen.
Take a look:

http://www.rightmove.co.uk/property-for-sale/property-38488321.html

Sarah St Darwen -Bread and Butter Renter - 10% Yield
Now, on the face of it, it looks a decent deal. But I'm not sure whether or not your going to be able to get this one for £50k.

When I take a look at the back office stats... I can see it's been on the market for almost 2 years. Why? is anyone's guess, but it's likely to be one of three things given it seems to be priced right.

  • It could be that they are pricing it to attract attention to achieve a good sale price? a good strategy, but not really Proctor's model. And in any case it should have gone by now.
  • Perhaps the offers they're getting aren't high enough to clear the vendor's mortgage? this is quite common. But on this one, given they only paid £20k for it back in 1998, it's not too likely (unless they remortgaged back in the peak?)
  • The obvious one is.... what's wrong with it, or how much needs spending on it?

Well, we're only guessing as to why it's not sold and often best way to find out why is to simply go have a look and ask the agent why it hasn't sold? Proctors are pretty straight up when it comes to answering questions like this.

You can see from the pictures it will probably need a few bob spending on it, but it mostly cosmetic. I'd put a shower in the bathroom too.

But finished nicely, the likely rent is around £425-450pcm, which means a nice yield of 10% +/- with steady capital growth.

10% Yield
Why don't you go have a look at it and we can have a chat. I'm always available for a second opinion?

You know where I am... bob in for a coffee (I only do nice coffee) and a chat, anytime.

01254 760660
Paul@AinsworthLordEstates.com

Saturday 21 February 2015

Darwen & Hyndburn are 'Real Property Hot Spots' says Paul Ainsworth Lord, from Ainsworth Lord Estates Agent in Darwen

Investing in property is easy, anyone can do it. Whether you make or lose money is the tricky bit.

The key is to know what to buy and where, and as I'm always banging on about.... you need a plan! Always know what your exit is going to be as this is where the profits are realised.

If you ignore this you're at high risk of making the wrong move which could undermine the whole plan altogether.

As you all know I'm based in Darwen in East Lancashire, but I do my stuff across a much wider patch... including Blackburn, Accrington/Hyndburn, Bolton and other surrounding areas.

But when I got a call from a reporter at the Accrington Observer asking for my comments on the Accrington Property Scene, he seemed pleased to hear what I had to say about Accrington in particular.

Read it here for yourself....


Paul Ainsworth Lord, Ainsworth Lord Estates, Letting Estate Agents in Darwen
Paul Ainsworth-Lord speaks to the Accrington Observer
 http://www.accringtonobserver.co.uk/news/property-hotspot-hyndburn-set-10m-8669506


And as always, If you want to chat about what opportunities I see in East Lancashire, just drop me a line, or call in for a coffee - anytime (you should know by now.. we only do nice coffee).

Tel: 01254 760660

Paul@AinsworthLordEstates.com

Sunday 15 February 2015

Nice 10% Yield on Sarah Street Darwen - Is this one for you?

10% Yield. Luvly Jubbly

A 10% Return on Investment always gets attention from the savvy investor, and we're lucky here in Darwen as yields of 10% are pretty easy to come by if you know what to buy and where. But buy wrong and it can be painful!

Sarah St is one of those streets that rents all day long and the tenants tend to stay a decent while.... providing you know which end to buy at.

This one is up with Keenans, an Accrington Estate Agents, at offers over £49,950.


Here's the link to this little baby:
http://www.zoopla.co.uk/for-sale/details/35490029?search_identifier=d110c1e1267199d9135385618601a5e6#RKPz6IR8UAYdUSI6.97


10% Rental Yield on Sarah St Darwen

Reduced by £5k.
Given it was on the market for £55k previously, until it was reduced by £5k, a few weeks ago I reckon there's a good chance you could bag this for £50k.
Having had a look at the back office stats on this, there's been lots of interest in it, so maybe now is the time to strike lucky before it gets snapped up.

If you were to bag this for £50k it would mean a yield up even of just over 10%.

Requires a bit of 'Lipstick and Makeup'




Looking at the pictures, it looks in decent nick. But to attract the right attention and get the optimum rent there's a few tweaks needed. I'm always going on about a bit of 'lipstick and makeup' and that's what this one needs, at no great expense.

I've not been in this house, although I have several on this street already (in the good bit and not so good bit) so I don't know what it's really like inside, but if you were thinking of buying to and wanted me to come along to look at it with you before you spent any money on a survey I'd be happy to.

So... on the face of it.... a nice little earner.

If you see anything else you want me to look at or pass comment on, just drop me a line, or give me a ring. Or bob in for a coffee and a chat. If I'm not in speak to Debs, she knows the area very well too. It's what we do.


Happy hunting!
01254 760660
Paul@AinsworthLordEstates.com

Monday 9 February 2015

Paul Ainsworth Lord recommends that local Landlords and Investors buy now and stop putting it off..

All too often people call in to see me about 'getting into the rental market' because they see property investment as a cracking alternative to having money just sat in the bank earning nothing.

And as us Landlords know, this is true. It's a great business to be in. Yet, to actually make that first purchase is quite a mind shift and often takes some courage. The psychologists might call it moving out of your comfort zone, which I'm sure most of us can relate to.

I don't know about you, but it took me and my wife about 3 or 4 years to actually 'do it' after loads of discussion about our great intentions.

But once we did actually make that first purchase that was it. We snapped up one after another and another and another... and are still doing even now, many years later. The bug gets you in the end.

This is not uncommon with other Landlords either. Once they get into that new comfort zone there's no stopping them.

Just do it!


So what's this post about?
Well let me explain, believe me when I say it, NOW is the time to buy, and be holding - not selling (unless that's part of your strategy).

Word is getting out about our patch here in Darwen and surrounding areas. There have been several articles and comments in the press today about the southeners (that lot south of Birmingham) moving north seeking better yields.

see the links below:

http://www.buildingconstructiondesign.co.uk/news/1million-investment-for-accrington-and-darwen/

Darwen Property Scene from the experts


So, don't be one of those folks that are still sat thinking about it 5 years later and paying 10k more. Act now! Get some good advice and plenty of second opinions and just do it!

Ignore the horror stories of bad tenants and wrecked houses, this is sensationalism by the press and pub talk. For everyone bad story there are thousands of good stories that nobody is talking about because it's not interesting or even mentioned.

If you are thinking of getting into property, and have loads of questions, which I'm sure you will, then why not bob down to the office for a chat... and a coffee (we only do nice coffee), and I'd be happy to offer my opinions and help you devise a strategy that works for you.

Call me on 01254 760660
or drop me an email....
Paul@AinsworthLordEstates.com

Tuesday 3 February 2015

Nice little 8%+ yield on Hindle St Darwen from Debs at Ainsworth Lord Estates Agents in Darwen

We work together all day, yet some of the best property chats we have happens in the evening..... and Debs was telling me about one of her properties she has just reduced. So needless to say I have to take a look at it..

It turns out she has a nice little deal on Hindle St in Darwen, and it's just been reduced by 5k!

Here's the link to it on Zoopla...

Hindle St Darwen Click Here for details

8%+ Yield Plus Healthy Forecast for Capital Growth
Now, not only is this a nice tidy refurbed property, it's also one of those that would get snapped up pretty quickly if it was to come onto the rental market.(Well I might like to add some 'personality' feature colours just to help it along a little).

Given it's a 3 bedder in a decent area - classed as Sunnyhurst, the demand for this size of property in the Sunnyhurst Area couldn't be better.

Sunnyhurst is one of the best areas in Darwen and this part of town in particular has had a lot of regeneration happen over the last 6 years or so.

This area used to be purely traditional terraced stock, but as part of the Darwen Regeneration Programme a lot of the old sub-standard housing stock was knocked down to make way for more modern and efficient housing
with gardens and off-road parking etc..
Regeneration of Hindle St & Queen St Darwen

Not only has this regeneration cleaned the whole place up, but we've seen a definite positive impact on house prices in the immediate surrounding areas.

(For example on neighbouring Nicholas St we saw prices jump around 20k in some cases.)

I expect this trend to continue for the foreseeable future, on top of the natural increases we expect to see with house prices in Darwen

The new Houses they have built are selling for around £130-£135k. So when you think you can pick up a good-sized traditional terraced for half that, it makes sense to pay attention, and as none of the new-builds are going to go for rent due to private home ownership and shared ownership, anyone who buys and holds will see a healthy rise in price in the mid-to-long term.

Now, anyone who has ever lived in a new build house knows only too well that you can't swing a cat in them (not that you would, but you know what I mean). They're compact at best is what I'm saying ;-)
Can't swing a cat in one of these
However with traditional houses the room sizes etc are more generous, and demand for traditional houses is very strong - not only from buyers, but renters too.

So what are the numbers?

Well you need to offer over £70k for the property Debs is selling.

So... Assuming you paid £70k for it, and then we got you a rent of £495 pcm (per calendar month) that would deliver a gross yield of  8.5% - nice and bonnie! but assuming we only got say £475 you would still be getting a 8.1% gross yield. How's that sound? Not bad eh?

PLUS as a property to buy and hold, you would without doubt, see some generous capital  growth too.
My Conclusion: BUY!

But if you want to chat some more about this, why not give either Debs or myself a call on 01254 760660, or bob in for a coffee. Our office is in the town centre opposite Boots the Chemist and Your Move's office.
or ping either of us an email:

Paul@AinsworthLordEstates.com
Debs@AinsworthLordEstates.com