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

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

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)

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)

Wow! 12% Property Investment from Estate Agents in Darwen, Paul Ainsworth Lord

Well property hunters, I've come across this little hidden gem on Frances St in Darwen, that looks like it could potentially give us a luvvly 12% yield.

But surely it's not as good as it sounds, is it? I hear you ask yourself....


Well. On the face of it, that's what the numbers tell me. The snag is, without a viewing we can't really be that sure. But hey ho, it's only a phone call away. And if your from out of town I'll view it for you and let you have my thoughts,I can't offer better than that?

This property has been on a while with our friends in the Darwen YourMove office, and obviously hasn't sold yet. I wonder why?

12% We'll have a load of these, yes please!

Here's the link to it...
 http://www.zoopla.co.uk/for-sale/details/36261553?search_identifier=1368c4ae420e03c9ec6cb3114f4f70f2#zoqDIDsTzQhd3qgg.97

Well, if you have a look at the listing on zoopla etc... you will see that they are economical with the pictures they have used. There are no pictures of the bathroom or kitchen - and as us property investors know, these are the two most important rooms in the property when it comes to both selling or renting.

And the absence of these important pictures stops potential viewers in their tracks (It's not rocket science).

Font Lounge Picture - but that's all

If this little baby needs either or both of these upgrading then we will need to add a further cost to our purchase price.

A nice bathroom and kitchen will cost around 5k. So it's not the end of the world and still a decent buy (albeit reduce the yield by a few percent). But viewing will help solve this mystery.

We have properties on this street tht rent out no problem at all, and we get decent rents and returns on them. So this once is certainly one I think is worth a closer look.

As always, if you want to chat some more about this little baby and perhaps any others you are considering, I'm always happy to offer a second opinion.

Why not bob in to the office for a coffee and a chat (we only do nice coffee). Or ping me an email on:

Paul@AinsworthLordEstates.com
My number is 01254 760660.

Always happy to offer a second opinion...

We only do nice coffee!

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

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!

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!