Another 10% Yield on Sarah St Darwen. Nice Opportunity for New or Experienced Investor

I posted about a different property on Sarah St in Darwen a couple of weeks ago, well here's another to look at.

Same sort of numbers and equally attractive if you're looking to build a portfolio of bread and butter renters with a decent yield and steady capital growth given time.

This one is up with our friends down the road at Proctors Estate Agency here in Darwen.
Take a look:

http://www.rightmove.co.uk/property-for-sale/property-38488321.html

Sarah St Darwen -Bread and Butter Renter - 10% Yield

Now, on the face of it, it looks a decent deal. But I'm not sure whether or not your going to be able to get this one for £50k.

When I take a look at the back office stats... I can see it's been on the market for almost 2 years. Why? is anyone's guess, but it's likely to be one of three things given it seems to be priced right.

• It could be that they are pricing it to attract attention to achieve a good sale price? a good strategy, but not really Proctor's model. And in any case it should have gone by now.
• Perhaps the offers they're getting aren't high enough to clear the vendor's mortgage? this is quite common. But on this one, given they only paid £20k for it back in 1998, it's not too likely (unless they remortgaged back in the peak?)
• The obvious one is.... what's wrong with it, or how much needs spending on it?

Well, we're only guessing as to why it's not sold and often best way to find out why is to simply go have a look and ask the agent why it hasn't sold? Proctors are pretty straight up when it comes to answering questions like this.

You can see from the pictures it will probably need a few bob spending on it, but it mostly cosmetic. I'd put a shower in the bathroom too.

But finished nicely, the likely rent is around £425-450pcm, which means a nice yield of 10% +/- with steady capital growth.

10% Yield

Why don't you go have a look at it and we can have a chat. I'm always available for a second opinion?

You know where I am... bob in for a coffee (I only do nice coffee) and a chat, anytime.

01254 760660
Paul@AinsworthLordEstates.com

Darwen & Hyndburn are 'Real Property Hot Spots' says Paul Ainsworth Lord, from Ainsworth Lord Estates Agent in Darwen

Investing in property is easy, anyone can do it. Whether you make or lose money is the tricky bit.

The key is to know what to buy and where, and as I'm always banging on about.... you need a plan! Always know what your exit is going to be as this is where the profits are realised.

If you ignore this you're at high risk of making the wrong move which could undermine the whole plan altogether.

As you all know I'm based in Darwen in East Lancashire, but I do my stuff across a much wider patch... including Blackburn, Accrington/Hyndburn, Bolton and other surrounding areas.

But when I got a call from a reporter at the Accrington Observer asking for my comments on the Accrington Property Scene, he seemed pleased to hear what I had to say about Accrington in particular.

Read it here for yourself....

Paul Ainsworth-Lord speaks to the Accrington Observer

 http://www.accringtonobserver.co.uk/news/property-hotspot-hyndburn-set-10m-8669506


And as always, If you want to chat about what opportunities I see in East Lancashire, just drop me a line, or call in for a coffee - anytime (you should know by now.. we only do nice coffee).

Tel: 01254 760660

Paul@AinsworthLordEstates.com

Nice 10% Yield on Sarah Street Darwen - Is this one for you?

10% Yield. Luvly Jubbly

A 10% Return on Investment always gets attention from the savvy investor, and we're lucky here in Darwen as yields of 10% are pretty easy to come by if you know what to buy and where. But buy wrong and it can be painful!

Sarah St is one of those streets that rents all day long and the tenants tend to stay a decent while.... providing you know which end to buy at.

This one is up with Keenans, an Accrington Estate Agents, at offers over £49,950.

Here's the link to this little baby:
http://www.zoopla.co.uk/for-sale/details/35490029?search_identifier=d110c1e1267199d9135385618601a5e6#RKPz6IR8UAYdUSI6.97

10% Rental Yield on Sarah St Darwen

Reduced by £5k.
Given it was on the market for £55k previously, until it was reduced by £5k, a few weeks ago I reckon there's a good chance you could bag this for £50k.
Having had a look at the back office stats on this, there's been lots of interest in it, so maybe now is the time to strike lucky before it gets snapped up.

If you were to bag this for £50k it would mean a yield up even of just over 10%.

Requires a bit of 'Lipstick and Makeup'

Looking at the pictures, it looks in decent nick. But to attract the right attention and get the optimum rent there's a few tweaks needed. I'm always going on about a bit of 'lipstick and makeup' and that's what this one needs, at no great expense.

I've not been in this house, although I have several on this street already (in the good bit and not so good bit) so I don't know what it's really like inside, but if you were thinking of buying to and wanted me to come along to look at it with you before you spent any money on a survey I'd be happy to.

So... on the face of it.... a nice little earner.

If you see anything else you want me to look at or pass comment on, just drop me a line, or give me a ring. Or bob in for a coffee and a chat. If I'm not in speak to Debs, she knows the area very well too. It's what we do.


Happy hunting!
01254 760660
Paul@AinsworthLordEstates.com

Paul Ainsworth Lord recommends that local Landlords and Investors buy now and stop putting it off..

All too often people call in to see me about 'getting into the rental market' because they see property investment as a cracking alternative to having money just sat in the bank earning nothing.

And as us Landlords know, this is true. It's a great business to be in. Yet, to actually make that first purchase is quite a mind shift and often takes some courage. The psychologists might call it moving out of your comfort zone, which I'm sure most of us can relate to.

I don't know about you, but it took me and my wife about 3 or 4 years to actually 'do it' after loads of discussion about our great intentions.

But once we did actually make that first purchase that was it. We snapped up one after another and another and another... and are still doing even now, many years later. The bug gets you in the end.

This is not uncommon with other Landlords either. Once they get into that new comfort zone there's no stopping them.

Just do it!

So what's this post about?
Well let me explain, believe me when I say it, NOW is the time to buy, and be holding - not selling (unless that's part of your strategy).

Word is getting out about our patch here in Darwen and surrounding areas. There have been several articles and comments in the press today about the southeners (that lot south of Birmingham) moving north seeking better yields.

see the links below:

http://www.buildingconstructiondesign.co.uk/news/1million-investment-for-accrington-and-darwen/

Darwen Property Scene from the experts


So, don't be one of those folks that are still sat thinking about it 5 years later and paying 10k more. Act now! Get some good advice and plenty of second opinions and just do it!

Ignore the horror stories of bad tenants and wrecked houses, this is sensationalism by the press and pub talk. For everyone bad story there are thousands of good stories that nobody is talking about because it's not interesting or even mentioned.

If you are thinking of getting into property, and have loads of questions, which I'm sure you will, then why not bob down to the office for a chat... and a coffee (we only do nice coffee), and I'd be happy to offer my opinions and help you devise a strategy that works for you.

Call me on 01254 760660
or drop me an email....
Paul@AinsworthLordEstates.com

Nice little 8%+ yield on Hindle St Darwen from Debs at Ainsworth Lord Estates Agents in Darwen

We work together all day, yet some of the best property chats we have happens in the evening..... and Debs was telling me about one of her properties she has just reduced. So needless to say I have to take a look at it..

It turns out she has a nice little deal on Hindle St in Darwen, and it's just been reduced by 5k!

Here's the link to it on Zoopla...

Hindle St Darwen Click Here for details

8%+ Yield Plus Healthy Forecast for Capital Growth

Now, not only is this a nice tidy refurbed property, it's also one of those that would get snapped up pretty quickly if it was to come onto the rental market.(Well I might like to add some 'personality' feature colours just to help it along a little).

Given it's a 3 bedder in a decent area - classed as Sunnyhurst, the demand for this size of property in the Sunnyhurst Area couldn't be better.

Sunnyhurst is one of the best areas in Darwen and this part of town in particular has had a lot of regeneration happen over the last 6 years or so.

This area used to be purely traditional terraced stock, but as part of the Darwen Regeneration Programme a lot of the old sub-standard housing stock was knocked down to make way for more modern and efficient housing
with gardens and off-road parking etc..

Regeneration of Hindle St & Queen St Darwen

Not only has this regeneration cleaned the whole place up, but we've seen a definite positive impact on house prices in the immediate surrounding areas.

(For example on neighbouring Nicholas St we saw prices jump around 20k in some cases.)

I expect this trend to continue for the foreseeable future, on top of the natural increases we expect to see with house prices in Darwen

The new Houses they have built are selling for around £130-£135k. So when you think you can pick up a good-sized traditional terraced for half that, it makes sense to pay attention, and as none of the new-builds are going to go for rent due to private home ownership and shared ownership, anyone who buys and holds will see a healthy rise in price in the mid-to-long term.

Now, anyone who has ever lived in a new build house knows only too well that you can't swing a cat in them (not that you would, but you know what I mean). They're compact at best is what I'm saying ;-)

Can't swing a cat in one of these

However with traditional houses the room sizes etc are more generous, and demand for traditional houses is very strong - not only from buyers, but renters too.

So what are the numbers?

Well you need to offer over £70k for the property Debs is selling.

So... Assuming you paid £70k for it, and then we got you a rent of £495 pcm (per calendar month) that would deliver a gross yield of  8.5% - nice and bonnie! but assuming we only got say £475 you would still be getting a 8.1% gross yield. How's that sound? Not bad eh?

PLUS as a property to buy and hold, you would without doubt, see some generous capital  growth too.

My Conclusion: BUY!

But if you want to chat some more about this, why not give either Debs or myself a call on 01254 760660, or bob in for a coffee. Our office is in the town centre opposite Boots the Chemist and Your Move's office.
or ping either of us an email:

Paul@AinsworthLordEstates.com
Debs@AinsworthLordEstates.com

Up and Running Perfect Investment for Cautious Investor 5% all day long....Chancel Place Darwen already with Letting Agent In Darwen

I saw Debs put this one on the market the other day.. for offers in excess of £130k

It's perfect for the 'very low risk' investor/landlord. It's what I call a second hand newish property.

Its a nice modern property, in a proper good location, that rents very easily. When we tenanted this property it went within a matter of hours and there were loads of folks wanting it.

It's An Easy 5% Yield.

Perfect Investment Opportunity

Perfect! Ready Tenanted with 5% Yield

This type of property isn't really my cup of tea, but I do know lots of landlord investors that only go for this kind of property, and that's fine.

The reasons they like this type of property varies from landlord to landlord, but the main thing that appeals is the fact they are new(er) and they tend to have fewer maintenance issues and it's fair to say that the tenants do tend to stay longer.

Knowing what you want, and what you like is good in this job. It's very important to have a plan in your head of why you are doing what you and what for. (So many people don't have any plan whatsoever).


So if you like this type of property and are happy with a 5% yield then it's worth a sniff.. The tenant is happy to stay and is looking at long term.... couldn't be better? It's an up and running cash machine!

Here are a few more pictures....

Nice Long Lounge

Nice Corner Plot with Plenty Parking

If you're thinking of buying anything like this and want a second opinion, why not pop into the office and we can have a chat. I'm always happy to make you a brew and give my opinion....

Or drop me an email with the Rightmove link of the property you're thinking of buying, to: paul@ainsworthlordestates.com
Tel 01254 760660

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

Another Investor's Gem on Olive Lane Darwen Purchase Price £50k with 10%+ Yield up with Proctors Estate Agents in Darwen

I like Olive Lane. 

I know it's not everyone's cup of tea..... BUT...

When investing in property most of us know we have to sometimes just look at the numbers.... forget it's not where you would live, which is something I hear all the time, especially from new-ish investors.

It's all about the numbers! 

Put emotions aside and focus on the spreadsheet. The spreadsheet speaks for itself and never lies and doesn't' care if it is somewhere you or your mum might or might not live.



If you're not that well up on spreadsheets, or how to do them, there is plenty of free software.

Spreadsheets Never Lie

Google Docs has easy to use spreadsheets in here:   
https://docs.google.com/spreadsheets/

If you need any help how do create a simple property spreadsheet, there are loads of videos on YouTube, have a look here:

https://www.google.co.uk/search?q=spreadsheets&ie=utf-8&oe=utf-8&gws_rd=cr&ei=Y2rzVM_mE-_X7AbnzIFI#tbm=vid&q=how+to+create+a+property+spreadsheet


10% Yield not to be ignored.

Anyway, back to a deal I have been watching for a good while now and I think it's time to make a move on this nice little 10%er.

10% Yield not to be missed

It's a nice fully refurbed property on the bottom end of Olive Lane, up with our friends at Proctors.

It was up previously with YourMove and the pictures did look better back then, so don't worry too much about the pictures, as it does look pretty well inside.

I'm confident you'd find a decent tenant for this one with a healthy rent. Nice properties like this always pull in a better type of tenant, and who are prepared to pay a bit more.

Here is is:
I was originally on the market for £52k, but now reduced to just below £50k.
The time is NOW.

My Opinion: BUY NOW

Click here to see refurbed deal on Olive Lane

It looks better than this in real life

Fully Refurbed Throughout

So, what you waiting for... go call Proctors, the estate agent, and book yourself a viewing.

Once you've had a look at it if you want to have a chat about any concerns you have, and pick up a few tips on how to find a cracking tenant at top rent, I'm always happy to discuss it over a brew.

You know where I am... call me or email me, or just drop into the office.

Tel: 01254 760660
Paul@AinsworthLordEstates.com

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

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

Serious Refurber - only for the experienced Investor

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

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

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

Gable End Refurber - Green Street East Darwen

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

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

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

Up for the challenge on this one?

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

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

Here it is...


Derelict Property on Green Street East Darwen

Refurb Investment Opportunity 10k Profit and 8.5% Yield! on Cavendish St. with Darwen Estate Agents - Ainsworth Lord Estates

Was having me T last night and Debs was telling me about one of the houses she'd recently been instructed on (she knows I always like to hear that kind of stuff), on Cavendish Street in Darwen.

She tells me it's a nice refurber for a new Landlord or investor, that wants a house to do up and either sell for a quick profit, or keep and rent out with a decent rent.

Low Risk Investment
When she says a 'New Landlord or Investor', this means it's going to below risk. Why's that I hear you ask? Good question...

Well, Debs has plenty of experience at what she does, and has had some cracking results on Cavendish St. She got £85k for one not that long ago further up the street. So as you can see it sounds a good deal?

Strong Rental Demand
And Cavendish Street is in a good location for the main road, schools and motorway etc... rental demand is always good round there.

So... I'm interested in looking at it so I can let you guys know, and if you're not too late, it looks a decent buy for sure.

Here's the baby..

Investor Refurb Opportunity on Cavendish St Darwen

Here are a few of Debs' internal shots...

So, it's obvious it needs a refurb on it. But she tells me the house itself has been well looked after, and is just old fashioned inside.

Bit dated, but that an easy fix

Yep, it's a bit dated, but that's ok. 

Rip out the stone work, if you're up to it maybe take chimney right out to roof. (Make sure you know what you're doing here - or get someone in to do it), it makes all the difference to the room sizes, and certainly adds value.

Ok, so it needs a new kitchen?

New Kitchen... allow say £2-3k

Replace with a Nice new kitchen from Howdens (make sure they don't take mick on prices)

Use nice tiles and nice lights, and ask the wife to choose the painting colours (women are better than us fellas at that).

Sorry, Peach is out

New Bathroom... Yes, peach is out I'm afraid.

Budget say £1500 for comfort, and do a proper job!

Don't forget put independent electric shower in.

Easy £10k Profit and 8.5% Yield - No Brainer!

So folks, let's do the numbers..

Purchase Price: £55k

Budget £15k refurb spend on it (You will be able to do it for less, I'm sure, but always better to work on higher numbers).

Total Spend £70k

To sell on.... Debs reckons she could get £85k with a nice job done. So a nice easy profit, and it sits comfortable with me on my £10k Profit Model.

If you wanted to rent it out...

So it stands you at £70k

I reckon a nice 2 bedder on here will achieve between £500 - £525 depending on standadr of job and finishing touches..

So again working on worst case numbers at £500 pcm (£6kpa) That gives us a nice sensible return at 8.5% Yield and because you'll have done a nice job on it there shouldn't be much, if any, ongoing maintenance AND the rental market it will snap it up quick!

But.... if you made it into a 3 bedder, then the numbers all change!

We only do nice coffee

If you're interested in having a chat about this one, or any other you've seen up for sale with any of the Estate Agents in Darwen, why not bob down to our office on Market St (opposite YourMove Darwen and Boots the chemist in the town centre).

We're always happy to offer a second opinion over a nice coffee (we only do nice coffee).

But you could always email me on paul@ainsworthlordestates.com 

Or give us a ring.. 01254 760660. 

Redearth Road Darwen, Potentially an easy 10% Yield.

Redearth Road has had some bad press over the last 10-15 years or so, and for some good reason too. But that's in the past and since Sainsbury's came to town and then more recently the new DACA Academy, things have looked up.

I get some cracking yields on Redearth Road, but there is a knack to it, and I'm not talking rocket science here, more the use of experience and tweaks of the trade.

See this little baby here..

Rental Investment on Redearth Road, Darwen

http://www.rightmove.co.uk/property-for-sale/property-47392169.html?premiumA=true

Well, this little baby has been reduced twice now, from a whopping £70k to £60k and just now down to Offers Over £55k, so it gets my attention now, as it's sensible money for sure!

I know it needs a few tweaks just by looking at the pictures, most of which just seem cosmetic which is always reassuring, so I don't see any major spend on things like the kitchen or bathroom (although a viewing would confirm this).

So given the hasty price reductions I reckon it's time to take peek and make an offer, who knows?

If you are the lucky one and want to know how to make a 10% return on your investment, or  if you're thinking of putting an offer in I'd be happy to give you my thoughts before you commit yourself....

Why not give me a call at the office on 01254 760660 or drop by for a coffee... you know where I am... 

Nice Refurb Opportunity Lynwood Avenue, Darwen. £15k for a couple of months work? Not bad!

I'm always being asked for refurb deals, and to bag nice deals it's not always easy as they tend to get snapped up pretty quick.

But just scouting round on Rightmove and Zoopla this morning I noticed a decentish property that looks as though it could well be a nice little earner. Its not gonna make you rich overnight but it looks to me like one worth picking up to keep you refurbers busy for the next couple of months......

It's up with two Darwen Estate Agents - YourMove Darwen and Ainsworth Lord Estates. It's been on the market since middle of October which is over a month now, and not snapped up... so it needs a good looking at with a critical eye cos something that's been on for a over a month and not sold may have issues?

Reduced by £10k
Then just looking at it again, I notice it's been reduced from its original asking price of £75k... so its been dropped twice - £5k each time to £65k- that could well explain why its not gone yet mmmmmm?

Here's the baby....

and here's the link..
Potential Refurb Deal on Lynwood Ave Darwen

So what would it be worth when its been refurbed to a 'good' standard? Well I asked Deborah our sales director who is one of the agents selling it and she reckons with a nice refurb job done on it it's worth around the £100k mark. But she also stressed it neds to be a nice job, not a cheap job!

£10-£15k for a couple of months work? 
So I reckon a fat £20k spend on it should do the job. Given it's been dropped form £75k to £65k with a £20k spend will mean it stands you at around £85k. So if Debs got £99k for it you woud walk away with between £10-£15k profit. Not bad for a couple of months work (tax free if you box clever)?

So go have a look and make the offer, see if you can get it for £65 or thereabouts. I should imagine with the price reduction the interest levels have spiked a bit. Certainly don't go over £70k as the risk becomes a bit too fine, and I always say refurb deals aren't worth bothering with if you can't clear £10k min.

Remember if you see anything worth looking at drop me an eamil or call in to my office on Market St in Darwen. Always happy to chat and offer a second opinion. Debs will usually be around to offer her advice too. my email is paul@ainsworthlordestates.com
Happy hunting!