Real Investment Opportunity - This property looks cheap, on Redearth Rd Darwen.

Real £55k Bargain, but avoid using Blue....

To Cheap? or Too Good to be True, or is it the Blue Paint?

I've always said that Blue is the worst colour to use in our job, it just doesn't help sell or rent houses.



So why hasn't this one sold? Now whether I can blame the use of blue paint on this one might be stretching it a bit?

Avoid using Blue!

Have a look for yourself, here's the link...

http://www.zoopla.co.uk/for-sale/details/35971307?search_identifier=d6fd6c14e386be8f43fbc90e46792b8a#hye8HH7HeotCadeK.97

Up at £55k with our friends at Proctors, this property up Redearth Road in Darwen, just up from the town centre, looks like a real bargain to me.

Now I have to qualify that a bit because there are no photos with this listing, other than the front picture, AND I haven't been or seen in side it, so it could be a real mess?

Probably needs a good spend....
 
That said, Ive seen some messes in my time and 20-30k will go an awful long way on a refurb, and a proper refurb at that! (that includes the £100 to repaint the front a different colour)

So if I bought it and had to spend £30k on it it would be a mint job and be worth a lot more - and pull a very handsome rent too. So at worst it still looks a very good buy.

Get the refurb right - get the right profit.

Getting refurbs right is important and shouldn't be ignored.
Whilst in my job I see some real wrecks that need refurbing, I also see some shameful refurbs that cost the investor a fortune - and that's not as uncommon as it sounds. Bad tiling, bad decorating, bad kitchen fitting, and the rest.

Getting the refurb right is where the profit is, and you might have hear me say... 'the money is (always) in the detail', try to remember this.

I have huge portfolio of refubs I can show you if you get chance to call in. Some from as low as £7k (mini refurbs) and others over £100k.

So what's so good about this one?

So what else makes this one a good buy, surely it's 'just another' fifty grander in Darwen? I hear you ask...

Well, I know Darwen like the back of my hand, and we have several other properties on Redearth Rd. and this block in particular and they all pull in decent rents.

These bay window, garden fronted ones are 'huge' inside. Plus they have big cellars too and so appeal to a wide audience house hunters - both for renting and buying.

Also, they do bring good prices on this row, and we get premium rents on this block just because of the size of them.

PS.. Debs in our office sold one on this block not long ago and got over £75k for it - and that needed a full refurb.

My Opinion - Buy (But do view it first)

Hopefully you haven't missed it.

If you want me to view it for you give me a ring, or ping me an email. I'd be more than happy to. I could give you a 'ball park' on the works needed and get our contractors to price up the job if you buy it.

Or of course, just bob into the office for a coffee and a chat.

(I'm also happy to discuss and offer a second opinion on anything else you might have seen in Darwen.)

Paul@AinsworthLordEstates.com
Tel 01254 760660

49 Market St 
Darwen
BB3 1PS
(There's plenty parking)

Two Refurb Bargains in Darwen for the Serious Investor

I went to look at a couple of Bargain Properties for one of my clients last week. He'd called me to say he'd seen a couple of properties come up for sale on my patch, with a Blackburn Agent, and wanted to know what I thought of the streets and if I knew the properties?

As soon as he said one was on Westwell St and the other was on Gillibrand St, I knew exactly which properties he was referring to. In fact, I was one step ahead.... I'd already got my viewing booked, just to see if they were worth buying. Afterall, if they were I would make an offer anyway (I can buy do-er uppers for some of my clients without them even seeing them).

Attractive Prices
The Guide Prices were very attractive.
The one on Westwell St was offers over £35k, and the Gillibrand St was offers over £25k, and on the face of it both look like bargains. So of course I wanted to see them.

I suspected they were Compulsory Purchase Properties being sold on by the council and this was confirmed by the Agent. This in itself is not good news!

Anyway, you can see them here:

12 Westwell St. Darwen
http://www.zoopla.co.uk/for-sale/details/35875072#DMEIyjHclBivulDI.97

40 Gillibrand St. Darwen
http://www.zoopla.co.uk/for-sale/details/35875001#PsLIJVTGW02rgc4J.97

Anyway, I'm writing this after having viewed them both.

And it has to be said, YES there is some good money to be made on these for sure - providing we get them.

Potentially £50k Profit on these deals combined
The one on Gillibrand St will fetch anything between 80 & 90k if done nicely, and the Westwell one could well sell for a similar figure (pity it wasn't on the opposite side of the street as they fetch roughly £10k more)



They are both in need of some serious work.. very serious! but that doesn't phase me or the guy that called me in the slightest, I often say we like them rough - the rougher the better!

So..  offers have been submitted on both, in time for the cut off date (typical of Council Property Sales). The offers I've made are sensible and take account of the big spend that is needed, and take account of the important fact we have to  make a decent profit on them otherwise there's no point bothering as there are loads of good deals about at the moment.


Council Sales are a Unpredictable at best!
But here is the problem (apart from the other investors that have submitted offers)..... as these are council sales we have no way of knowing how this will pan out. The council use a bizarre method of deciding which offer to accept, a formula unknown to anyone else and without logic or any sense at all. Price doesn't come into it either. It's a lottery and that's how it has to be viewed. AND it can take literally months for them to decide, so it's now a case of waiting.

Tip...
If you find yourself in this situation and your offer is eventually accepted on one of these type of sales, it's worth remembering that you're quite within your rights to pull out if you find something else in the mean time. So don't let this sort of thing stop you looking at other deals and offering on others in the mean time.

So if you want a second opinion on a property you've seen, give me a ring. Chances are I'll know which one your looking at and who knows if I've made an offer on it your timing might be bang on to bag it before I give it to one of my other investor clients.

If you want to chat to me about my sourcing service you know where I am.

Why not bob in for a coffee (I only do nice coffee), or alternatively ping me an email: Paul@AinsworthLordEstates.com or give me a ring on 01254 760660 I'm always happy to chat and share what I know.....

Over £30k Profit up for grabs on this refub opportunity on Gillibrand St Darwen, from Estate Agents in Darwen

Another Golden Nugget found in Darwen

Well... Debs told me about this golden nugget she got today. 'I've got a cracker for one of your Investors' she said. So naturally, I wanted to know more.

And guess what, she's absolutely right! Vendor wants a quick sale, and looking at this little beauty, that won't be a problem!

So, let's take a look, and do the numbers....

http://www.zoopla.co.uk/for-sale/details/36089047

Golden Nugget on Gillibrand St Darwen

It's nothing fancy at the moment, and does certainly require a full refurb. But that shouldn't put off the experienced investor or tradesman wanting to embark on their first do'er-upper.

The potential returns on this one make it a bargain (or golden nugget, as I like to call them).


Needs to be a 3 bedder
Once done up to a 'nice' standard (not a cheap or bad job!) the resale price on this could be as much as £85k, but even more if made into a nice 3 bedder - finished well.

You'd be best speaking to Debs on any plans you might have for a job like this, and listen to what suggestions she has in order to get the best price on re-sale. Our general thinking is this needs to be made into a 3 bed house (it's big enough), as this is where the big bucks are!

Over £30k Profit - lets do the maths...
It's on the market for Offers Over £30k. So let's say you were a cash buyer (very important for these kind of deals), and bagged it for £32k. Then spent £25k on the refurb and then Debs got you £90k, this means you'd be left with a nice tidy profit of £33k.

Now do you see why it's a golden nugget? Do two or three of these a year and it's happy days.

My Verdict: Get it bought!

Derelict Property - Investment Opportunity In Darwen for the Experienced? Too Risky??

Two-For-One Derelict Property Deal.
If I had a quid for for every time I've been asked about this one, I'd be a millionaire by now! well not quite, but you get what I mean.... but no-one seems to have the guts to take it on.

Serious Refurber - only for the experienced Investor

Its a pair of terraces on a gable end, in pretty bad shape, being offered for sale by our friends at Thomas Shaw & Co in Blackburn.

So what would I do with this one? And why hasn't it been snapped up yet?

Well, to someone from out of town it looks a bit of a bargain, and I'm sure its gonna go soon. But us local folks know that Green Street East in Darwen is a tough street and the properties in this area don't fetch much money on a sale or when up for rent - even when done to a fairly good standard.
Because it's tough, unless you're up for a challenge and have a clear plan, a good refurb team behind you this is one to probably stay clear from.

Gable End Refurber - Green Street East Darwen

Thing is, a lot of the people I speak to just want the easy stuff - the straight refurbers or easy renters and projects like this scare most folks.

Having said that, anyone who knows me knows I like a challenge! So can I see the money in this one?

My answer is yes! and some good money too, but you need to have a plan and know what you're doing!

Up for the challenge on this one?

If you also like a challenge and are up for a chat, then give me a ring and I'll talk some more. Here's the deal..... I'll make the coffee, you bring the cream cakes!

I can see a nice little return on this ugly baby! I bet most folk won't.

Here it is...


Derelict Property on Green Street East Darwen