New Additional 3% Tax on Landlords, thaks Mr Osbourne, luckily it's not as bad as it seems, claims Paul Ainsworth Lord, Darwen's Local Property Expert and Estate and Lettings Agent

Osbourne's Impact on the Darwen Property Market

Has Osborne killed buy to let in Darwen? Don't be silly!

Well George Osborne, in his Autumn statement the other week, caused Darwen landlords to ask whether buy to let is a viable investment option, when he announced that landlords, when buying another buy to let property from April 2016 will have to pay an additional 3% stamp duty on top of the standard rate.

So for example, if you were to buy a for say £75k today you wouldn’t pay one penny in stamp duty but next April it will be £2,150. For more upmarket landlords, it means that the stamp duty bill for a £120k buy to let home will rise from £0 to £3,600 from April next year. 
 

Some say property in Darwen will be worth less because potential landlords will not be willing to pay as much for them, and if house builders or existing home-owners don't feel they are going to get as much for them, then there is less motivation to build / sell them?... and the person we can blame for this is George himself.

Back in 2012, he choose to utilise the British housing market to kick start the UK economy, with  subsidies, Funding for Lending and Help to Buy. However, whilst that helped the Tory’s get back into power in 2015, some say this impressive growth in the UK property market has been at the expense of pricing out youngsters wanting to buy their first home.
 

Others say this is the straw that breaks the camel’s back as over the next four years Landlords will slowly lose the ability to offset all their mortgage interest against tax on rental income, after changes announced in the Summer Budget.

At the moment, landlords can claim tax relief on buy to let mortgage monthly interest repayments at the top level of tax they pay (ie 40% or 45%). However, over the next four years this will be reduced slowly to the basic rate of tax – currently 20%.

Surely this is the end of Buy to Let in Darwen? I don't think so personally, but there's no doubt a lot of people are worried... but before we all run to hills panicking .. let me give you another thought.

Stamp Duty rules were changed in December 2014. Before then, landlords were eagerly buying up properties under the ‘old slab style Stamp Duty’ system. For example, the stamp duty bill on a £285,000 property was lower on the old slab style duty (pre Dec 2014), at £8,550, yet it isn’t a million miles away from a new £12,800 stamp duty bill.

Interestingly though, George has left a legal loophole in the new rules, because when it comes to selling up, they can offset purchase costs against any eventual capital gains tax, including stamp duty.

I believe that total returns from buy to let will continue to outpace other investments, such as the stock market, gilts, bonds and even pensions. Also, the best part about investing in property is that it is bricks and mortar. You can touch it, you can feel it, and it isn’t controlled by some City whiz kid in Canary Wharf .. the British understand property and that goes a long way!

Buy to let has enough impetus behind it that prospective landlords will continue to buy even with a larger stamp duty bill. Us Darwen landlords will need to be savvy with what property they buy to ensure the extra stamp duty costs are mitigated.

Buying buy to let property is a long term venture. In the past, it didn’t matter what property you bought in Darwen or at what price – you would always make money. Now with these extra taxes, the adage of ‘any old Darwen house will make money’ has gone out the window (well not quite - and I'll cover this in another blog post soon).  

You wouldn’t dream of investing in the stock market without at least looking in the newspapers or taking advice and opinion from others, so why wouldn't you take the same advice and opinion about buying a buy to let property in Darwen?

One source of information, opinion and advice is this DarwenPropertyBlog



 HOWEVER If you want to know about some of the new strategies I have been working on to circumnavigate this additional tax on us Landlords then make sure you register for updates.

Once I have seen the specific details of the planned changes I will be happy to discuss them openly with you guys.



PLUS If you want to know what the real threat is to us here in Darwen is then watch out for another article I'l be putting out early in the new year.

And as always.... the other source of advice is directly from myself, so if you've seen any interesting deals and want a second opinion here's my details:

My office is in Darwen Town Centre opposite Boots the Chemist..

Ainsworth Lord Estates
49 Market St
Darwen BB3 1PS

Or ring me on 01254 760660

or ping me an email..  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

Anchor Avenue, Darwen. 8% Yield and safe long term investment from YourMove in Darwen. Spotted by Paul Ainsworth Lord, Local Property Expert, Sales and letting agents in Darwen

Cracking Yileds

I was talking to one of my landlords the other day who is on a buying spree at the moment.

We speak regularly, and the things properties he likes are houses in 'really good areas' and he wants them cheap. A pretty tall order!

Ive mentioned to him before that in this job the focus needs to be purely on the numbers... ie yield and capital growth. But some folks get stuck in their own mindset, and that's fine if it works.

It's all bout the numbers

But the frustrating down side to this mindset is losing out on so many other opportunities, which is so unnecessary.


Council Houses make Great Investments
I'm a great supporter of buying former council houses, for many reasons.

They're cracking family homes, built well, built for families, are usually nice and spacious, and invariable come with good sized gardens. They tick all the boxes (on paper) that families are looking for, and when we have them come up for rent there's always a scramble for viewings! Great!

It's a Pseudo Stigma
The only down side to these houses though is the stigma of them being on a (former) council estate. The tenants are happy to put this aside if it means they can get a great house that ticks their boxes at a suitable rent.

This is where investors really need to tune in. Rental demand is really strong for these properties which is why I always promote buying them up, providing the price is ok that is.

So when this one bobbed up on my alerts at £80k it got my attention.

Click link Here:

Ex-Council House on Anchor Avenue in Darwen

Ex-Council Houses are Great Rental Investments

Lipstick and Makeup Required

No Brainer...

£80k for Anchor Avenue? It's sensible. Having had a quick look through the pictures. it's fair to say it needs a bit of TLC in places, but on the face of it I can't see anything major. Nothing a bit of lipstick and make up won't sort out.

Now we all know, us investor types are a cheecky bunch - and there's nowt wrong with a bit of cheek! so let's assume we managed to get it for £75k which is a sensible offer so we we'd tell the agents, (despite knowing the price on this one is pretty bang on.. hee hee) we'd have bagged a bargain!

Let's do the sums...

PP £75k
Rental income: £550pcm = £6,600pa
that equates to an 8.8% gross yield.

But lets say the agents and vendor play hard ball and you have to pay £80k, would you be happy with an 8.3% yield? Course you would!

Bear in mind, Ive not taken account of any decorating costs and bit of jobs etc that you might need to do with these figures, but even so, but you see the point I'm making?

And the Brucey Bonus is that the capital value on these houses appreciates nicely.

Suffice to say... Ex-Council houses are a great rental investment on our patch.

My opinion on this one...

BUY BUY BUY.

If you see any other council houses (or anything for that matter) and want to run it past me then give me a bell or call in for a coffee (we only do nice coffee).

If I'm not available, leave your details and I'll get back to you.



You now where I am..

Paul Ainsworth Lord
Ainsworth Lord Estates
49 Market Street (opposite Boots the Chemist)
Darwen
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?

Legionella Legislation - the importance of adhering to it.

 How would a £20k Fine affect your property investment model? 

£20k Fine? No thanks!

For us Landlords there doesn't seem to be a month goes by without us having to take on board and make adjustments to our business to accommodate yet another piece of legislation.

Bonkers or what?

Some of this legislation, I know is bonkers, but the tightening up things to minimise the risk of our tenants becoming exposed and potentially very ill (sometimes fatally) is certainly one thing we must not ignore.

It's serious, very serious.

What if I don’t comply with the new rules?

• If you fail to carry out the basics listed above, basically causing your tenant to contract the disease you can receive a criminal prosecution and a fine of up to £20,000 per breach; per property. 

If you are using a good agent, they should be upto speed on this matter. But might just be worth putting a call into them to make sure.


Read the full article on our Ainsworth Lord Estates Blog.

Click here to see.

Ainsworth Lord Estates is one of the few Estate and Letting Agents in Darwen that has already implemented Legionella Assessments. Why not give me - Paul Ainsworth Lord, a call if you want to chat more about this.

Paul Ainsworth Lord
Tel 01254 760660
Paul@AinsworthLordEstates.com

49 Market St
Darwen
BB3 1PS

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).

Buy To Let Opportunity on Pine Street Darwen, with an Estate Agents in Darwen. Offering a nice 10% Yield

So you're a wannabe Landlord? Well, when opportunity knocks you just have to seize it, and guess what, it's knocking now!

I speak to so many people each week who are just itching to get onto the property market and become a 'Landlord'.

Some of them I go through the same script time and time again... and even show them some nice little entry-level deals to buy, but for some strange reason they just don't take the plunge.

Well if you're one of those I've been saying to that the time is now and I'll let you know when something comes up that is 'low risk' (just to ease you in), then take notice here....

There is a nice potential renter for sale here with our friends down at Proctors, one of the other Estate and Letting Agents in Darwen... take a look:

Mid-Terraced Renter on Pine St in Darwen

Nice little entry level renter here on Pine St in Darwen

Now Pine Street isn't everyone's cup of tea, but it's in an OK area and the street's ok too.
We have properties on here that we get rents of between £350 and £395 per month.

Depending how they're finished determines what rent we get.

Now if you've checked out the link to it on Zoopla you'll see there is only one picture on it. Which tells me what's in side probably wouldn't photograph up too well. So be prepared to have to spend a few quid.

Now if you're a tradesman or have mates or friends that can help you out to bring it up to standard (and keep your costs down) then this would be a nice starter property for any wannabe landlord. If not, then you need to keep your costs under control (very important).

The NUMBERS....

Assuming you buy this one for £35k.
And based on a rental of say... £375 we could get you a 10% yield if you kept your refurb spend down to £10k.

Of course, if you end up spending say £15k on the refub I'd expect we should get a better rent (£395) - providing you let me guide you on what needs to be done to help achieve this.
A rental income of £395 on a property that stands you at £50k would still give you a healthy gross yield of 9.5% still not bad eh?

But to come out at 10% you need to keep your refurb costs at no more than £12,400.

Now this in itself can be a tricky business, especially of you don't have any contractors to hand. If this is the case then speak to me as I have a whole list of local guys we use for refurbs - who are 'trained' on price and know the standard needed for the job in hand.

But we're assuming a lot here, once you've viewed it you ought to be able to gauge what work needs doing.... but who knows, maybe it just needs a 'light refurb' or a good lick of paint?

So.... have you booked your viewing yet? lol

Don't be a talker who is forever procrastinating, just get on and do it. At this kind of money you can't really go wrong.

My opinion on this one is:

Just Do it!

Want to chat some more? Give me a ring or ping me an email...

01254 760660
Paul@AinsworthLordEstates.com

or bob in for a coffee.. you know where I am..

49 Market Street, Darwen BB3 1PS
There's plenty of parking near the office.
(Ainsworth Lord Estates)

Investment Property on Preston Street Back on the Market - Potential 10% Yield at offers over £45k

10% Yield Easy...

Sale Fallen Through - Preston St in Darwen

Offers Over £45k - I don't think so.....

Just noticed another potential 10% Yielding property come back to the market on Preston St. I'd noticed it had sold, but for some reason the sale seems to have fallen through and it's back on the market with our friends at the YourMove Darwen office, across from us here in the town centre.

Here it is:

Potential Nice Deal on Preston St

http://www.zoopla.co.uk/for-sale/details/36261510?search_identifier=6e5d19eb8db0c393e51515588ec12a25#PrqWwZlWAKqS29Ll.97

Needs a few quid spending on it

Demand or rental properties on Preston St is always pretty steady, so I'm always interested in properties that come up for sale on here and especially the neighbouring streets.

On these streets we can get rents from £395 - £475 (and as high as £500 sometimes) quite easily, depending on condition, finish and features available.

This one looks as though it needs some TLC... I'd think about 5-10 k should be enough.

Given the sale has fallen through on this, I see an opportunity for a cheeky bid and generally speaking cheeky bids work well in these sort of situations.

My advice is go on ..... make a cheeky bid at £40k and take it from there. If you want

Go on, be Cheeky!

some help on this give me a ring and I'll talk you through how to turn a cheeky bid into a successful bid.

Or why not call in to my office and we can discuss it in person... I'm always happy to discuss these techniques and offer some advice on the works and jobs to do to help secure the optimum rental return. (so you don't make those little mistakes that can cost you lower rents and longer void periods. There is a bit of a science to this...

You know where I am...

There are four Estate Agents in Darwen.... my office is at
Ainsworth Lord Estates 
49 Market Street
Darwen
BB3 1PS

Tel 01254 760660
in case you just want to email me here's my email address:

paul@ainsworthlordestates.com

10.6% Yield on Laurel Avenue, Darwen, not to be missed. spotted by Paul Ainsworth Lord, up for sale for £45k with one of the Estate Agents in Darwen

10.6% Yield up for Grabs on Laurel Avenue in Darwen

Reduced by £10k - from £55k to £45k

Finding bargains in Darwen with a potential yield in excess of 10% has been slightly harder this last month. They all seem to have been getting snapped up as soon as they came to market.

Opportunities in Darwen are getting snapped up quicker than ever before.

 

It's a sure sign people are catching on to the higher returns and glorious opportunities up for grabs here in Darwen. Although, that said, there seems to have been a dip in the number of bargains coming to market too. I constantly watch what each of the Estate Agents in Darwen put on the market on a daily basis.

However.....

When this Garden Fronted Mid Terrace Property came on the market a couple of months ago, it was on at £55k. Now given it does need a bit of work, I just pretty much ignored it, but now that our friends at Proctors Estate Agents have reduced it to £45k - knocking a nice £10k off the price it now gets my attention.

Here's the little baby..

Reduced by £10k Now offering over 10% Yield

Laurel Avenue Darwen

How much work it needs is yet to be properly assessed, but given we now have an attractive asking price, we can allow for that.

What to do now?

My suggestion would be to book yourself a viewing and providing there are no major issues, I'd suggest you put a cheeky offer in to start the negotiations. If you were to get this one for £40k I think you will have done well.

Properties in this area rent well, and the rents are decent too when they're presented well. If you do a nice finish on this one it would get snapped up pretty quick for sure. Of course, the final rent is directly linked to the standard of the finished product.

My Opinion: Buy

If you're looking at buying anything in Darwen and want a second opinion on it before you commit yourself, feel free to drop me an email, or give me a ring. 

Or drop in to my office for a coffee...

Paul Ainsworth-Lord

Ainsworth Lord Estates

49 Market Street

Darwen

BB3 1PS

paul@AinsworthLordEstates.com

Cakes go well with coffee too ;-)

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

Block of Apartments with 10.5% Yield, Rising to 15% on Blackburn Road in Darwen

Block of 4 Flats on Blackburn Road in Darwen - pulling in a very healthy 10.5% Yield, Rising to a mighty 15% after a few quid spend.

£200k down and get £21k a Year Return

 (for starters)

It's all about the yield

From my experience of dealing with lots of new landlord investors, it has become apparent not everyone is into flats.

I don't know why this is as there doesn't seem to be a patten to it. I then find myself reminding investors that it's all about the returns on your investment ie the yields.



Mind shifting...

So keeping things simple, when we look at the annual income you would get on a deal like this it is surely a mind shifting thing?

It's on the market for £195,000 with us at Ainsworth Lord Estate Agents in Darwen, see what you think.  Click here to view property details

Block of 4 Flats, Blackburn Rd Darwen.

 
Look at in very simpler terms....

Put £200k in the bank and you might get £4,000 if you're luck to get a 2% return. If you spend the £4k then all you have left is your £200k. (Which because you've spent the interest it now won't buy you what it would have done when you first put it in the bank.)

So the value of your money has gone down.

Darwen Property Prices are on the up...
 
With property it's different and especially now given we are seeing strong demand and healthy property price rises here in Darwen.

Property is a Double Wammy?

So.. you put your £200k into a property like this and it pulls in £21k a year (10.5%) in rent.
Firstly that's a good income agreed? Now if you spend it all that's fine. Now if you were to sell the property say a few years later I bet my bottom dollar you would get a good bit more than £200k for it. It becomes a double wammy, don't you think.

Ok, don't forget you have to remember there will be some maintenance, a few void periods in-between tenants etc., and letting agents fees. But still it makes a great deal.

Food for thought?

Hopefully, my few words will get you thinking. There are loads of other types of properties that are superb investments and no doubt I'll touch upon these in time to come.

But if before then, you ever you see anything you think might be worth investing in and are unsure just give me a call. I am more than happy to give you my take on it.

Diamonds are everywhere, even in the most unexpected places....

I'm involved with all types of properties and some are amazingly profitable like you wouldn't believe, so much so you couldn't imagine it to be true. Only the other day I was doing the numbers on a deal with a 40% Yield! Yes these types of property investments are out there... right under your very nose, often in the most unexpected of places.

And that's why I say... Darwen is my very own place with Acres of Hidden Diamonds and some of the precious finds are worth more than any diamond I've seen.

Yo know where I am...

49 Market Street
Darwen

here's my number:
01254 760660
Paul@AinsworthLordEstates.com

Call in if you're passing.

7%+ Yield on Richmond Terrace in Darwen. Needs a bit of work though. A good buy and hold?

I see that our friends at Proctors, one of the Estate Agents in Darwen, have just listed for sale this garden fronted terraced property on Richmond Terrace in Darwen.

Asking Price £55k - not bad, in fact - not bad at all. 

Needs a bit of work

Check it out, click here:  Richmond Terrace Darwen

"Looks a good buy to me for £55k"

I see from the pictures and description it has had a new roof not that long ago, so that's good news. But it does need a decent spend on the rest of the house.


Needs some work...

I reckon it needs a minimum of £10k spending on it, that's if you can do the work yourself? If you have to pay contractors then you can double it at least.

So £55k Plus £10k - it'll stand you at £65k And we'd get you a rent of anything from £400 - £450 depending on how good a job you do.

Rental Values:

At £400 that would be a yield of 7.3%

At £450 that would be 8.3%

As the figures suggest, it's always best to do a proper job, and they rent much better, quicker and tenants stay longer.

Rental Demand for this area?

Strong Rental Demand Area

Richmond Terrace is just up past the railway station, so it's great for commuters who want to get to Manchester or Blackburn etc... It'd dead handy for town too - only a short walk away. And parking is ok up here too.

Good Capital Return
The area as a whole is on the up which means the capital return on your investment is pretty secure. In fact in 10 years time you'll be saying to yourself... "we should have bought next door too".

Seen something else?
If you have your eye on anything else, or looking to sell any of your renters, just give me a call and we can chat some more.

Or better still bob in to see me and we can discuss it over a coffee (we only do nice coffee you know).

here's my details...

Paul Ainsworth Lord

Tel 01254 760660
Paul@AinsworthLordEstates.com

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