Anchor Estate Darwen, Unsold Opportunity... Reduced! 8.8% Yield - "This should have sold by now," says Paul Ainsworth Lord on Investing in Buy to let opportunities from Estate and Letting Agents in Darwen

This is still available and I don't understand why?

It's been a busy week this week and I was just checking the Darwen property market activity on Rightmove and Zoopla to see if there was anything I had missed.

I came across a few surprises, but one that stands out in particular...

Reduced!

I wrote about one particular property about 3 weeks ago, tipping it as a good buy. It's up with our friends at the YourMove office across from us here in Darwen.

http://darwenproperty.blogspot.co.uk/2015/10/anchor-avenue-darwen-8-yield-and-safe.html

I'm surprised to see it's not flagged as sold. In fact it was subsequently reduced by £5k from £80k to £75k..


The crazy thing is it has a nice and bonny yield of 8.8% with potential to increase this further. It's a no-brainer!

Here' it is:

http://www.rightmove.co.uk/property-for-sale/property-36846924.html

Have you all spent up?

I think you guys need to check this out, and if you have concerns as to why it hasn't sold give the agents a ring see what they say? Are there problems we can't see in the pictures etc?

Pretty much every property I write about gets snapped up, usually by Landlords and Investors i have spoken to.

Bottom Drawer Secret Property Deals... 
 
If you spot any other properties you're interested in drop me a line or call in for a coffee (we only do nice coffee!) I can discuss some off market investment properties I've got in my bottom drawer.
These are properties that the owners (mostly retiring Landlords) are looking to sell discreetly, that won't go on the market. I have a steady supply of these and they're all producing nice yields.

You know where I am..

Paul Ainsworth-Lord
Darwen's Local Property Expert

Ainsworth Lord Estates 
49 Market Street
Darwen
BB3 1PS

(There's plenty of parking)

Ring me on 01254 760660 or ping me an email to:

Paul@AinsworthLordEstates.com

£40k Bargain Investment Deal on Argyle Street in Darwen, up with YourMove - Estate and Letting Agents in Darwen, spotted by Paul Ainsworth Lord

Calling all Bargain Hunters! 

33% Discount on Argyle Street in Darwen

Well, I was just checking looking to see what bargains I could find on Rightmove this morning and guess what I stumbled across? Don't know why I hadn't spotted this beauty sooner.

It's up for sale with our friends at the YourMove Letting and Estate Agents office here in Darwen, across the road from me.

Reduced from £60k to £40k
Then again it might have been the original price tag of £60k that put me off. But since it's now up for grabs at a whopping 33% discount - only £40k it's certainly on my radar now!

What's the catch? 
Before you all start scrambling for your phones... what has gone wrong here? Should we not be smelling a rat, given the big discount?

I can only assume given the length of time it's been on the market (quite a while) and the number of price reductions there's clearly more to this than meets the eye, or is there?

Can't be much wrong with it?
Given I've been in the property business most of my life, and professionally for the last 15 years or so, even at £40k - there can't be that much wrong
with it, surely?

Can't be this bad?

At worst.... if it needs a 'full job' on it to restore it to a good standard, I've never spent more than £30k on a major refurb on this type of property. So at worst, after works etc it's only going to stand the buyer at say... £65k - which means its still a cracking deal. The asking prices on this street tells me this is a bargain waiting to be snapped up!

Here it is:

 http://www.zoopla.co.uk/for-sale/details/36504396?search_identifier=0b041af1fa1d072aa13f7ab2700178ba#GdBrGMTJFQsrq3pD.97

Bargain on Argyle Street, Darwen

Numbers.... I like the numbers..

Well, lets suppose you bag it for £40k and spend £30k on the refurb. It's going to stand you at £70k.

Given we have budgeted a for a top end refurb here I think we should get £500pcm for it quite easily (probably more).

That means you'd be getting a nice healthy 8.6% Yield. And if we got £525pcm it wood be a nice juicy 9%.

And on top of this you have Capital appreciation - the cream!


If you see any other potential bargains and would like a second opinion, you know where I am, call in for a coffee and a chat.

Paul Ainsworth Lord
Darwen's Local Property Expert

Ainsworth Lord Estates
49 Market Street
Darwen
Lancs
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?

9% Yield on Nancy St in Darwen? Is it as good as it seems? Paul Ainsworth Lord reckons it's overpriced by £10k

 Things aren't always what they seem....

There are loads of great investment properties being offered in Darwen by local Estate Agents. But are they all as good as they seem, I hear you ask?

And that's a good question, and it's an important one!

Well let me show you one that 'in theory' should give a nice 9% however the reality is likely to be somewhat different. Let me explain....

A quick look on Zoopla shows a 'nice potential deal' here on Nancy Street in Darwen at a nifty £46,500

But is it a good deal really?

check the link here:

Nancy St Deal

Nancy St Darwen

Nancy St Darwen

Now I have been modest on my rental figure at only £350pcm, and based on the sale price of £46,500 it stacks up at a 9% yield.

And in order to get the £350pcm on this street it needs to be nice inside. So on this one it will need a spend - probably £5k minimum. Which means it would stand you at £51,500 reducing your yield down to 8%. Now this still looks like a good deal.

BUT there are other things to consider too (on this street).

Firstly, you may have noticed this property is being offered sale by an out of town agent - Bridgfords in Blackburn. (Not experts on the Darwen property market). So take this into account first.

Secondly, I know this is too much for a property on this street. A quick browse on sold prices on this street will tell you this. (In my opinion this property is overpriced by at least £10k)

Thirdly.... and this is where the local knowledge comes in handy....
It's not in one of the best areas of Darwen and certainly not very popular either.

Fourth.. properties on this and neighbouring streets are very tough to fill (if you want a decent tenant), and believe me I know!

To get this house filled reasonably quickly it needs to be nice and priced right.

So whilst this looks a pretty decent deal at 9% the reality is you would probably end up with 7% or less after you take into account a rent reduction or incentive to get interest.. and don't forget to factor in void periods. It would be a stroke of luck to get this rented quickly after your tenant has moved out.

So.. factoring in voids... expect a more realistic yield of around 5%pa

Now if you're happy with a 5% return shouldn't you be looking at nicer properties in better areas? I think so.

Hope you find my opinions and comments useful, and if you see anything of interest, can I ask you call me or drop me an email to discuss it first (it doesn't matter which agent it's up with). I'm always happy to offer my twopenneth worth....

You know where I am...

Ainsworth Lord Estates 
49 Market St Darwen
Tel 01254 760660

Paul@AinsworthLordEstates.com

or call in for a coffee.... (we only do nice coffee)

Another cracking Buy-to-Let deal with 9.5% Yield on Lord Street in Darwen - It's a No Brainer!

Lord Street Darwen offering a Super Yield of 9.5% 

No need to think about this one, it's a no brainer. Just get it bought!

Talk about an opportunity coming along when you least expect it, well it's here and it's come a knocking...

Remember it's usually first come first served with deals like this one.

Well lads and lasses.... here's another cracking deal up for grabs from our Debs.

She picked this up the other day and what a cracker it is too.

The Landlord is selling his properties due to a change in circumstances. Lucky for one of you guys....

Here it is, click here:  Lord Street Darwen

Put simply, there's nothing to think about with this one. It's got what I call a 'Super Yield' which is anything above 8%.

It's another that we found the tenant for a couple of years ago. The tenant has looked after the house and always paid the rent on time.

Lord Street in Darwen

The house is in good condition and there aren't any obvious signs of any work needing to be done.

Sorry this is a brief one, but if you want to know anything else, or want a chat about anything else you've seen - no matter who the agent is, why not bob in for a brew and a chat.

Or just email me the details to Paul@AinsworthLordEstates.com and I'll give you my thoughts.

Then again you could ring me on 01254 760660.

Watch out for the next recommendation... (or register with your email address to be the first to hear).

Paul

10% Yield on Lomax Street Darwen from Ainsworth Lord Estate Letting Agents in Darwen

Here's a cracker for you savvy Investors - a nice 10% Return on this neat little jobby, a nice and simple mid-terraced property on Lomax Street in Darwen.

It's one that came in the other day. Landlord is emmigrating and is off-loading a few properties. So watch out for them on here.


I've Some More of these Nice Little Earners to come in the next week or so.

Might need a fresh paint job this summer on the outside

We'll be listing them once I've checked them all out.

Luckily this is one that we tenanted, so we know it's a decent house for the money AND we know it's a decent tenant in there too.

We are the strictest agent on our patch when it comes to vetting tenants. We need to be these days, all the tricks they come up with.

Here's the link to it:

Perfect deal on Lomax Street in Darwen - click here

Mint Kitchen

Comes with Good Tenant in situ and Pays on time
Tenant pays on time and looks after the property well and has no plans to move. We do intend to renew the tenancy in time for change of ownership.

 TIP - Always try and do this when you buy a ready tenanted property.

Rear Reception Room

Register your email address to be the first to hear about more deal. I will be selecting deals like this all the time.

So... keep your eye on my blog, or better still register your email address here (on the right of this page) and get to hear about these little beauties first.


Or better still (and it's always better) if you bob into the office and let me know what it is you're looking for. We can discuss your requirements over a brew.

My Opinion: It's a NO BRAINER! Make the offer!

More coming soon...

Paul Ainsworth-Lord
Always happy to give my two-penneth......

01254 760660
Paul@AinsworthLordEstates.com

9% Yield on this Property Investment with good capital growth forecast, on Higher Perry Street in Darwen

When looking for Investment Properties to rent out, it's always good to know if there's likely to be some sure increase in value given a bit of time.

But where there's an opportunity to add some instant capital value by making a few modifications or improvements then that makes for a nice bonus!


Let's take a look at this potential earner on Higher Perry St in Darwen:

 http://www.zoopla.co.uk/for-sale/details/34426813?search_identifier=d6fd6c14e386be8f43fbc90e46792b8a#gkBLsDSCbOmq7Hsl.97

It's on the market with Eileen at Proctors down the road from my office, and it's always worth keeping an eye on what properties she gets in as there are often a few bargains to be had.

They have it on at offers over £54k and I notice it's already been reduced twice since it went on the market last year (from £60k). Given it's been on a while I suspect it's been overlooked by many, but at this new price I reckon it's not a bad buy.

Let me briefly explain where I see the opportunity in this one...

Without having viewed it, and just going off the pictures, it's obvious to us all that it needs a bathroom makeover. I think it's fair to say pink tiles haven't made a come back yet ;-)
A good tradesman could however re-use the art-deco bathroom suite, but for what they cost and if it was me I'd probably go for a whole new suite with nice modern tiling.


The absence of kitchen photos probably suggests the same.

Then the real to do on this one to add real value and increase the rental income too would be to add a third bedroom. This will involve moving the bathroom to a jubilee bathroom (situated over the stairs) now this sounds like a big job, but to the right tradesman it's not and it's something we do quite often.

So dealing with the above, whilst it will involve spending a few bob it would in my opinion be well worth doing.

The rent would go up anything between £50 and £100 per month (depending on the finish) and the value of the house would jump up nicely too.

So plenty to think about there. And if you wanted me to come along to the viewing - or even view it for you, I'd be more than happy to.

Want to discuss this one some more, or any other you have seen, why not call in to my office for a coffee and a chat. I'm always happy to offer a second opinion.

Or of course... ping me an email..

Paul@AinsworthLordEstates.com
Tel 01254 760660

9% Yield on Lord St Darwen, up with an Estate Agents in Darwen. found by Paul Ainsworth Lord

An Easy 9% Yield up for grabs here...

Properties with yields above 7% have been a bit thin on the ground this last few months. But, then this one bobbed up the other day and caught my eye. Certainly worth looking at, given there's an easy 9% return to be had on this one.



It's up for sale with one of the Estate Agents in Darwen - our friends across the road from my office, in the YourMove Agency.

9% 'er on Lord St in Darwen - No Brainer!

Here's the link to it:

 http://www.zoopla.co.uk/for-sale/details/36577987?search_identifier=69aac2a523d72c96d9d98666ffe5dbc0

Hopefully, they won't have tipped off some of their registered investors to this one.


Good Rental St and tenants tend to stay long term.

I know Lord St pretty well, and they always rent pretty well on there. We have several we manage on this street and they all bring in decent rents, and as it happens the turnover is low, which is always a bonus and helps to keep the yields up.


It Needs a bit of TLC - but that's not unusual at this price.

Now this property is nothing fancy, and looking at the pictures closely, it's clear that this one needs a bit of TLC to bring the standard up a bit, but don't let that put you off.

After all properties in this price range are becoming harder and harder to find in Darwen. So if I was buying it I'd expect to have to spend a few bob on it anyway.

Needs a bit of TLC

My Suggestion: BUY

But I don't like that street?

This is something I hear some of the less experienced investors say when I recommend they buy properties on streets they wouldn't perhaps live on themselves.

Well forget that. This is an investment business guys. All you need to focus on is this...

1. How much is it?
2. How much do i need to spend on it?
3. Will it rent out?
4. How much rent will I get, and what's the yield?
5. Will it go up in value?

In our business answers that can satisfy the above questions are all that matter.

You heard it here.... buy this one. It will be a nice addition to any portfolio.

If you're still unsure or what to have a chat about this one, or any others you have seen, then why not give me a ring? or ping me an email?

(Or of course you could bob into the office for a coffee and a chat)

you should know here I am by now..

Paul@AinsworthLordEstates.com
Tel: 01254 760660

Ainsworth Lord Estates
49 Market St Darwen BB3 1PS (There's plenty of parking)

9% Yield on Hollins Grove Street from one of the Estate Agents in Darwen

Great 9% Yield in Darwen

I had a lovely couple in to see me the other day, asking me about a property they were
thinking of buying to rent out. 

They're pretty new to the renting game and because they're from out of town wanted some advice on whether I thought the house they were looking at was the right one for them?

They also acknowledged that they didn't know the areas of Darwen very well and wanted to know if this House on Hollins Grove Street was in the right area?

Buy on the right street

Now Hollins Grove St. is a bit of a mixed bag, and it's fair to say, making the wrong purchase on here could be a costly mistake (and it's fair to say that to some degree there are many streets in many towns that this would apply too).

But given my extensive local knowledge and the fact I've lived in Darwen pretty much all my life, I'm in a good position to comment on any street round here. (I love it when the banks ring up with details of a repo property and I can picture the house in my head.. and often tell them what colour the front door is!). I remember disputing with them once about a property that was up with an out of town agent and was supposed to have a board up, yet I was adamant there was no board up - nor had their ever been, and I knew this off the top of my head. Sad or what? (but handy nonetheless).

Anyway, the main good thing about Hollins Grove St. is it's location and with that I mean it's ease of access to the M65, and Darwen in general. There are some nice decent sized houses on here that bring decent rents (we rented a nice 3 bedder not that long ago for 500 per month - which is very good for here.

So.. once we'd done all the pleasantries I brought the property up on my screen, and sure enough it looks like a nice deal, and it's in a good spot.

There are several houses for sale on this street, but they're not all the same and not all in the same section either. However, this house is configured well and appears in very good condition etc... I reckon it will bring a nice rent - we did the sums and if they were to bag it for the right price we can expect it to bring in a nice healthy 9% yield. 

 My Conclusion: A Good Buy 

If you are thinking of buying in Darwen and would like to have a chat just to reassure yourself on whether or not you're are buying right, just drop into the office for a chat.

Or you could of course, give me a ring, or ping me an email...

01254 760660
Paul@AinsworthLordEstates.com

Always available for a second opinion!

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).