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

7.5% Return on your money with Natwest Bank, only at the Darwen Branch. Discovered by Paul Ainsworth Lord, Estate Lettings Agents in Darwen

Get 7.5% return on your money from the Darwen Natwest Branch. (or £500 per week)

Well, fellow Landlord Investors, we are always comparing the returns we get from property against what we can get for it in the bank.

 Well this last week I saw the for sale sign go up at our local branch of the Natwest in Darwen, and me being me, wanted to know how much it was up for. I though it mght be an ideal purchase for one of my other Landlords given we have all the flats above, so to have the ground floor as well would work nicely.

7.5% on with Natwest Bank, only in Darwen

 Lot 60 at the next auction

Cheaper than I thought.......
 
Well, to my surprise, to buy the bank wasn't as much as I had expected.

If you check out the auctioneers website and look at lot 60 you will see the guide price is a tidy £350k.

But is it as good as it seems, I hear you ask yourself?

 Is it really as good as it sounds?

£500 Sterling

£500 per week  in rent? Well, maybe, maybe not. It will depend on how much interest there is on it at the auction on the day. 

£500 per week, really?

As we all know auction rooms are somewhat unredictable and it's really a case of who's there on the day in most cases, but no doubt this type of investment is likely to appeal to some of the corporate investors wh like this kind of tenant. Let's face it the chances of the not paying their rent is slim to very slim at best.

What other factors are there to consider then?

I know for sure that with this building there are service charges for the building, and whilst these are not unreasonable they have to be factored in.

Secondly, the insurance for the building has to be paid by the tenants, and when we got the insurance renewal earlier this year it was (in our opinion) grossly over inflated - in fact insured for more than double it's worth. Needless to say we have appealed this.

Don't forget Management Costs

How long is the lease for with Natwest, how are the rent reviews structured, and are there any break-clauses? Who pays for maintenance? etc...



The thing is a lot of these costs are out of the owners control to some degree and challenging any of them is a mighty feat. 

 
So, whilst it looks pretty good at 7.5% should we all be running to the bank to buy it? After management company costs etc (details of which should be in the legal pack - available from the auctioneers), who knows?



The other thing to consider, which you should always have in mind before you buy any property, is the exit? Who would you rent it to next?

I'd say it would make a superb Starbucks!



If you'd like to chat some more about this potentially lucrative investment, why not give me a ring on 01254 760660
or ping me an email to; Paul@AinsworthLordEstates.com
or drop in for a coffee...

Ainsworth Lord Estates 
49 Market St.
Darwen, 
Lancs BB3 1PS

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!