7% Yield on Devon Street, Whitehall Area Darwen. A good investment?

7% Return on Devon Street, Whitehall, Darwen

Well, you might have noticed this one on the market with our friends at YourMove in Darwen. It's been on a while (since May 14) and it makes me wonder why it hasn't gone yet.

Stale isn't always bad...
It always gets my attention when a property becomes 'stale' after being up for sale too long. But there could be many reasons for this - and not necessarily bad. This can happen for many reasons - and some are often out of the agent's control.

That aside, it's in the right area, and granted it's not a real bargain as such, but nonetheless it's worth looking at.

Well anyway, here's my twopenneth worth.....

Firstly, and as I've already mentioned, it's in one of the best areas of Darwen - the Whitehall area.

Rental Demand is the stongest ever in Darwen
Demand is good for many reasons... it's just one of those places people want to live. There are good schools nearby, access to Bolton & Manchester are pretty good, and of course you are close to a lovely Park and on the edge of some beautiful countryside.

Whitehall Darwen 7% Return on Investment (Gross)

Rental Demand is stronger than ever, we all know this. And especially in this part of Darwen.

And given prices are on the up, now might be a good time to jump in and make an offer on this one. I realise this property isn't a fab bargain right now, but lets be sure of one thing.... prices are going up, not down, and demand in Darwen is stronger than ever. Whether this will change after the election is anyone's guess, but even then any slow down will be temporary, I'm sure.

So if you are looking for a medium - long term investment, I don't think you can go far wrong with this one, or anything similar in this part of Darwen.

So the numbers....
Let's say you ended up paying £80k for this, and you got £450pcm rent on it. This would give you a near 7% return on your money. Not bad eh? (And pretty safe too).

If you want to have a chat, or second opinion, about this or any other property you might be thinking of buying, why not give me a call or bob in for a coffee? Beware though, I can talk property all day long, especially when it's on my patch.

You know my number... 01254 760660
email: Paul@AinsworthLordEstates.com

I only want to buy up Whitehall, BoldVenture, and Sunnyhurst, is this right?

Whitehall or Olive Lane?

Got a call from a Landlord yesterday looking to buy another Renter (he has a nice little portfolio with us already). He wanted to know if we had anything up Whitehall, so I asked him why he wanted it up there?

His reply was quite typical of an emotional thinking landlord, as opposed to what I call a 'numbers' landlord.

He preferred Whitehall because he 'likes it up there', and I have to agree it's a nice area - one of the best parts of town. But the problem with buying in the nice areas is that the properties cost more and in turn the yields are lower, which is fine if that suits your strategy but given he doesn't really have a strategy - other than buying nice houses, opens up another discussion for a different day.

Whitehall Area Darwen

When I explained that we do have some nice decent properties in that area but they will cost more and that the typical yield is around 5% he didn't seem as keen.
So he then asked well what about other nice areas? I explained he would have the same problems up Sunnyhurst and BoldVenture - both equally nice areas.

I suggested he have a think as to why he wanted to be a Property Investor, because most people do it as an investment, and when you invest in something it's generally all about the yield. The better the yield - the better the investment.

I'm not saying this is always the case, or even always the right thing to do, I suppose the other message here is to establish a 'Plan'.

So do you buy a house up Whitehall with a yield of 5% or one on Olive Lane with a double yield of 10%? I'll let you ask yourself this question...

It's about the yield, or is it?

If you get stuck on this one and want to have a more detailed conversation about this, or even some help developing a plan? why not give me a call on 01254 760660 - or better still bob into the office for a coffee.

You know where I am..
Paul@AinsworthLordEstates.com

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).

One of the nicest terraced houses you will see in Darwen

Whitehall Darwen

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