Thursday, 18 December 2014

Wellfield Street Warrington...Which is the best investment?


I was talking to somebody last week from the Grappenhall area, who was considering becoming a landlord for the first time. He visited our office to ask us whether buying a property on Wellfield Street (Sankey Bridges) or Wellfield Street (whitecross) would make a better Buy to Let investment, and which would offer a better return/yield. He knew the area well, as he lived around there over ten years ago. I confirmed that the properties on both sections of these streets let and sell well, but I wanted to do a bit more research to help with his choice...
The average price for a property on Wellfield Street (whitecross) has been £84,465; while on Wellfield Street (Sankey Bridges) it was nearly 6% more, at £97,257. To better understand the investment opportunities available, we took a look at the rents achieved over the last year. The average rent achieved on Wellfield Street (whitecross) was £477 pcm giving a yield/return of 6.78%. On Wellfield Street (Sankey Bridges) rent was slightly higher, at £495 pcm, with a corresponding yield/return of 6.11%. We found both streets to be as good as each other, but as you can see there is hardly any difference in the yields/returns, which we would not have identified without the extra investigation. In this case it really comes down to the best available property to buy on the day.
If you are a landlord, whether you deal with us or not, feel free to visit into our office on Crosfield Street to ask our opinion on which property investment is best for you, you can always call me, Tesh Patel on 01925 235 338 or email me on tpatel@hamlethomesproperty.co.uk.


Tuesday, 16 December 2014

3 Bed House in Warrington with a 8.8% Yield Potential.




This house has just needs a lick of paint and a little tidy id recommend Nice and light & neutral, exactly what the doctor ordered! Great area for rentals and being a 3 bed house means it will attract families as this area is popular for schooling and as its only a 5 minute walk into town.

It has just come on the market for £69,950 and I would expect that £550 pcm would be more than achievable rent wise for it at least. If you do your sums based on these figures, you would be looking at an annual return of 8.8%.

With this style of property as well, being a family home, means that you will have a lower turn over of tenants, as families generally want to be settled somewhere, rather than moving around every year. This means that that you will save on the letting costs to find new tenants as well. Win win I say.

We post many good deals on this blog, if you decide this one isn't for you, follow the blog and you will be notified when the next one gets posted then why not take the next step and give us a call to see how we could assist you in your search for potential investment properties - or to ask about our thoughts on your own choices, call me now on 01925 235 338 or drop me an email on tpatel@hamlethomesproperty.co.uk

Friday, 12 December 2014

2 Bed Investment Property In Orford 8.6%




Good Afternoon, I hope everyone has something good planned for the weekend.

We are at the end of another week and I am up to my old tricks and surfing Rightmove daily to see what great buys are out there. This morning I spotted this one, on the market with Lloyds for £64,000.

http://www.rightmove.co.uk/property-for-sale/property-47575424.html

There are a few houses that have come to the market just like this in the last few months, I don't think there is anything onerous about it, I believe it is just a sign of the market, where prices have been steadily climbing thereby allowing people to move onwards and upwards, that may have not been able to previously.

As there are a few properties available to buy in this area, it means that prices are becoming quite competitive now, I think that £64k is quite a good price for this one as it also looks like it is in pretty good condition too. It probably needs about £5k putting into it to get it back up to a lettable standard.

From a rental perspective, I would expect to achieve in the region of £495 pcm for this type of house, which based on the current asking price would produce you a very healthy gross yield of 8.6%. Not to bad especially if you can get some money knocked of the asking price

If you have any questions at all about Buying a property to let, please do not hesitate to get in touch. tpatel@hamlethomesproperty.co.uk

Thursday, 11 December 2014

How will pension reforms in 2015 fuel growth in the Buy-To-Let property market?

The 2014 UK budget announcement included some exciting news for those approaching retirement age and planning what to do with their pensions. As the facts have started to emerge, the full impact of the pension reforms and the new options available, which are due to come into force in 2015, are beginning to be understood. So what has this got to do with property investment?


From April 2015, retirees will have a great deal more freedom to use their pension funds as they wish. The government’s planned changes will make it easier for pensioners to access their cash, with the lump sum withdrawal amount increasing from £18,000 to £30,000. At the same time, the tax on this amount will be cut considerably – 25% will be tax-free, while the remainder will reduce from a 55% tax rate to the pensioner’s personal income tax rate.

As someone who has long been passionate about property as an investment, seeing these changes has been extremely pleasing. Instead of compelling pensioners to buy an annuity, which can be a stressful and (if the wrong one is purchased) costly decision, the new rules will provide vastly more freedom for those looking to gain an income from property during their retirement years. Best of all, the value of the property is likely to grow over time, so the family or estate will inherit a tangible asset instead of a pension provider taking back any funds not yet paid out.


The British enthusiasm for purchasing property is well known, but the opening up of this market to those approaching retirement age is expected to give the property sector a dramatic new lease of life. Property website Property Moose conducted a survey of UK consumers in order to assess their appetite for property purchases in light of the new reforms. It found that 54% of respondents felt that residential property provided a better investment option than a pension. Just 11% felt that a pension was a better investment than a property.


Interestingly, the same survey showed that only 10% of respondents had an existing direct investment in a property (other than that in which they lived). The findings clearly demonstrate the pent up demand for property investment that the current regulations have created, meaning that the impact of the changes in April 2015 should be dramatic. The majority of respondents (57%) cited their reason for not investing in property thus far as being lack of initial capital. The pension reforms should act as a game changer in this respect, and those looking to make property work for them as an income source in their retirement years can plan their financial returns well in advance.



While I will be keeping a very close eye on the implementation of the planned pension reforms as 2015 approaches, certainly the excitement already generated by them in the property sector is palpable. The market is going to see some interesting developments from April of next year onwards. To help with these choices the Government will guarantee every new pensioner face-to-face information and guidance, which will usually be given by the pension fund you saved into. Alternatively, you could pay for good independent financial advice. It is expensive – hundreds of pounds up to maybe a couple of thousand – but it can be well worthwhile, especially if you have a reasonable sized fund.With potential annual rental yields of around 8-10% in Warrington at the moment, along with annual capital appreciation of 9.3% in 2014, you can see why this would be an attractive proposition for a potential investor.


If you are thinking of getting into the property rental market as a new investor and don't know where to start, speak to us for impartial advice and guidance to get the best return on your investment. For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01925 235 338 or pop along and speak to us in person at our offices at 6 Bankside, Crosfield Street, Warrington, WA1 1UP

Wednesday, 10 December 2014

Warrington 2 double bed terrace, £80k with potential 7.4% yield.




Here we have a lovely 2 double bedroom terrace property in Warrington, offering close proximity to the town centre, exactly the sort of place a young professional couple would like. Its close to the central train station. This property does not need any work doing to it, maybe just a quick clean up, but its ready to go so ideal for a first time investor as it really is hassle free


With no upper chain, this is currently on offer for £80k and would likely rent in this market at around £475-495, giving a potential yield of 7.4%. Properties around here have grown in value in recent times, this property in particular has grown from £46k in 2000, showing potential capital growth today of around 120%, which quite frankly is amazing.


As always, this particular property has been circulated to our current list of investors looking to purchase something in the Warrington area. If you are one of the hundreds of investors reading this blog daily, why not take the next step and give us a call to see how we could assist you in your search for potential investment properties - or to ask about our thoughts on your own choices, call me now on 01925 235 338 or drop me an email on tpatel@hamlethomesproperty.co.uk


Wednesday, 3 December 2014

Warrington Town Centre Flat 6.6% yield



Afternoon property hunters, I haven't seen one of these flats come to the market for a while, so thought I would put it out there as it seems to be quite a good deal.

Close to the town Centre, ideal for the commuting market and also coming with a parking space, to me, this should not be sniffed at. On the market for £80,000 with a local agent, I would recommend that you get yourself a viewing booked before you miss out.

These properties rent out for around £500 at the moment, so if you do your sums, you would be looking at an annual return of around 6.6%

This flat may not be as swanky as some of the flats in warrington, but it's also not as expensive as them. You can get yourself a decent City centre investment property without breaking the bank!

Dont forget them service charges/ground rent. There may be room to negotiate on this particular one.

http://www.rightmove.co.uk/property-for-sale/property-49409564.html

Tuesday, 2 December 2014

3 bedder house in Warrington



I had a landlord come in to see me yesterday asking me what type of property he should be buying for his next buy-to-let. Whilst going through the property websites, I spotted this one and thought I would share it with you all.

http://www.rightmove.co.uk/property-for-sale/property-48998180.html?premiumA=true

It's in the Fearnhead area of Warrington. It may not have the most modern of kitchens fitted, but it looks perfectly functional, it's not so dated that you would feel like you are living in the past! it will just need new flooring and probably a splash of magie

This house is on the market for £94,950, I'm sure you could negotiate the price a little bit, (I wouldn't expect thousands off though, houses are selling very near their asking prices at the moment!) I would expect this to rent for at least £600, maybe even £625. So airing on the optimistic side, you could expect a gross yield of 6.8%. Not too bad, especially as you don;t have to worry about block management charges etc which you would with a flat!.

If you would like any advice on where (or where not) to buy, feel free to give me a call or drop me an e-mail tpatel@hamlethomesproperty.co.uk

Friday, 28 November 2014

First Time Landlord Deal With Good Returns



This property would make a great investment, especially if you are a first time landlord as they rent out so easily. This particular one is a great example as it has been well maintained by the current owners. 

On the market for £79,950, it's a great price and you could get a gross return of 7.13% per year if you get the current rental figures in the region of £475 pcm. As you can see form the images no work needs to be done on this property it is ready to go, there is also room to negotiate the price so if you can reduce the price then the yield will be greater.

An easy property for a landlord that may not be that experienced!


If you would like any advice on buying to let, please do not hesitate to get in touch tpatel@hamlethomesproperty.co.uk

Wednesday, 26 November 2014

Warrington 2 bed 8.14% yield



I saw this house and I thought what a great property this would be for an investment.it needs some work to bring it upto date but these houses are always really popular with the rental market, due to their location and size.

It has just come on to the market for £62,000 which feels like the right sort of money, considering the prices of some other similar properties on the market at the moment, it seems to me that the Vendor is looking to achieve a quick sale. This property would probably rent for £475 pcm, however the property needs about £8k spending on it so taking that into consideration, the property would generate you an annual yield of 8.14%.

Another interesting factor which I wanted to point out is the actual increase in capital growth. As we have spoken about many times, it is not always down to the biggest 'yield', the rise in value should also be taken into account. Some houses may not generate a high yield, but their capital growth potential is far greater. Property on the street sold for £90K - £93K going back 7 years ago.

This particular property boasts a good yield and potential capital growth

If you would like any advice on where to buy (or where not for that matter), feel free to drop me a line at tpatel@hamlethomesproperty.co.uk


Tuesday, 25 November 2014

4 Bedroom Detached With Huge Capital Growth Opportunity



Good Morning, Heaters on full blast today, winter is definitely on its way and you already know that property sales go quieter during this period as people are less reluctant to get involved in big moves during the festive period, which is great for buyers as there is always a bigger room for negotiation with sellers.

Iv wrote a lot of articles regarding property yield in Warrington, but today i have come across a 4 bedroom detached house in the lovely area of Great Sankey. This property is on the market for offers in the region of £175k which tells me you could potentially get the price on this reduced. Now this property originally sold for £227.5K in 2006, so what i'm looking at here is potential capital growth. 

Similar Spec houses on the same estate are currently selling for around £190k this indicates the seller wants to do a quick deal and has gone below the market value. Looking at the area of the property and the developments around there and the go ahead of closing down the tip which is in the area I believe in time the house will pull back its value from that of 2006, in its current state this house would rent out at £900 pcm, no money needs to be put into the house it would probably just require a clean. 

If you have any questions at all, please give me a call, or pop me an e-mail over to tpatel@hamlethomesproperty.co.uk

Friday, 21 November 2014

Which home improvements yield best return on investment ?





I was doing some research the other day to see if home improvements adds value and which improvements add the most value, what I found is that the average home improvement in the UK actually increases the value of a home by 10%, not to bad I don’t think! Now this works out as just shy of £30k whilst the average return on investment was estimated to be 80% this is based on the total amount spend by home owners, the data to get these figures was provided by the new home improvement index from peer to peer lending firm Zopa.

So this new research basically asks home owners who have taken out a home improvement loan across the UK how much value the actual renovation added to their property, this in turn showed that the top improvement is a conservatory which on average cost is shy of £5500 and giving a 108% ROI.

Following the conservatory with a ROI of 88% is garden improvements which on average cost around £4,500. Exterior work costs come in on average of about £6000 which is a ROI of 75%.

Now an extension cost averages in at around £19,750 which is much more costly and gives a return of around 71% while a new roof would cost just over £4K and give a return of 63%. A loft conversion comes at a large average price of £24,600 only giving you 50% return on investment.

The rooms homeowners tend to want to change the most are the kitchens and bathrooms yet they offer the least in terms of return. Surprisingly improving the kitchen which on average costs £9,600 comes in with a slightly higher return at 49% than a bathroom which is at the bottom of the returns averages at £4,900 and brings in a return of 48%.

82% of home owners said that regardless of improving their homes, they were not planning on selling any time soon. The firm says this suggests that the current housing market where price growth is slowing could be putting home owners off moving, hence why they are adapting their homes to their situations.

If you have any questions at all, please give me a call, or pop me an e-mail over to tpatel@hamlethomesproperty.co.uk

Thursday, 20 November 2014

Are Warrington Properties Affordable To Invest in?



A landlord came in to our office earlier this week to discuss the affordability of property in Warrington, with the current national market property market being in recovery with increasing house prices. The best advice I can give to those looking to invest in property is our secret trick of the trade. You can judge the affordability of a town by simply finding the ratio of the average property price to the average salary. The lower the ratio, the more affordable property is.

When we put this to the test, we found that Warrington currently has an average property value of around £187,100 with the average salary being £21,458. This is a respectable ratio of 1 to 8.7. Meanwhile in Widnes the ratio of property values to salary is 1 to 8.5, which suggests the property in the Warrington is less affordable than in Widnes.

We also had a look at St Helens and found the average salary is £20,734 and the average property value is £138,455. This means that property in St Helens is more affordable than Warrington, with a ratio of 1 to 6.6.

This could mean that now is not a brilliant time to invest in Warrington property market, while the average value of property is high compared to the average salary. If you would like to talk to us about your potential investment, please come into our offices.

For advice, call me, Tesh Patel on 01925 235 338 or email me on tpatel@hamlethomesproperty.co.uk also for more information on the Warrington property market please visit warringtonproperty.blogspot.co.uk

Wednesday, 19 November 2014

Warrington Property From 5% to 12% Yield



Good Morning property hunters. As usual i'm doing my RightMove travels. Ok so i'll be showing you how to make the most of this property in the link im sharing today so from 5% yield i'll show you how to get 12.3% yield

So this house is actually located very close to the University in Warrington, it can very easily be converted to a 4 bedroom HMO, As the house stands it needs no work doing to it and can be let for around £450 pcm, its on the market for £108k so doing the sums this will give you a yield of 5% which isn't the best return.

To achieve above 12% yield on this property you will need to convert it into a 4 bedroom HMO, you will not need a license in warrington to do this. Earlier this year we completed a project on a similar street where we converted the house from  5 bedrooms to a 7 bedrooms HMO (license needed), so using estimated figures from that particular project i would suggest the refurb cost would be no more than  £5k, this would include fully furnishing the property throughout down to the salt and pepper shakers.

So total cost would be £113k including the refurb, now the four rooms will rent for £90 pw. That will include all bills, council tax and wifi. account for £100 per room a month for this so total rent a month would be £1560 minus £400 (bills,council tax, wifi), you will be left with £1160 pcm rather than £450 pcm this will achieve 12.3% yield.

Hopefully that made sense!  if you would like to chat about this particular deal or other deals you are looking at and want my honest opinion good or bad then please contact me Tesh Patel by email at tpatel@hamlethomesproperty.co.uk.

http://www.rightmove.co.uk/property-for-sale/property-45711382.html




Tuesday, 18 November 2014

Diamond In The Rough Warrington - 7.5% yield



This house has the potential to be a really good investment property. There is quiet a bit of work that needs to go into this property, we had a similar property on the same road in a similar condition, to get it back to a let standard you will be looking at putting about £10k into the refurb costs

This area is popular for many reasons, the main one being the local schooling and being a 3 bed house, means that you should attract a family and generally speaking, families are more likely to be a long term tenant, meaningless void periods for you as a potential landlord.

The potential annual yield on this particular property, is also pretty good at 7.5%. Being on the market for £70,000 and would rent in the region of 475 - £500. The chances are at the moment it would be at the higher end of the price guide for rent, due to lack of supply and extremely high demand!

If you have any questions about where to buy your next, or even your first property investment, drop me a line on tpatel@hamlethomesproperty.co.uk


Friday, 14 November 2014

Warrington 3 Bed With Capital Growth (6.8% yield)



Good morning property hunters, so its the end of another working week for most, im just doing my usual RM trolling and iv come across this gem of a property.

This is a 3 bedroom new build, the property was built in 2006, back then they were being sold for around £150k. It is now on the market for £104,950 so in effect if you're buying equity, as this property will rent at £600 pcm and if you replace the flooring throughout with new carpet your looking at £1000 costs as other than that the property is good to go this will bring a yield of 6.8%

If you're a first time investor or you've been investing for many years, this is an opportunity that can not be missed.

It is on the market with Bridgfords Pick up the phone and start to arrange your viewings. This will get snapped up quick.

http://www.rightmove.co.uk/property-for-sale/property-47089450.html

Wednesday, 12 November 2014

7.4% Yield on Longshaw Street



In the last couple of days, I've spotted this modern 3 bedroom house come to Rightmove. These houses always rent really well as they offer great size accommodation and easy access to main road links. Click on the link below for more details.
This one has come on the market for £79,950 with Ashtons and you would look to achieve rent in the region of £525 pcm. The property would need netural decor throughout and possible new kitchen so £5k refurb cost have been factored in when looking at the yield, based on these figures and not taking into account a discount off the asking price, you are looking at a gross yield of 7.4%.
This type of house will not be on the market for long, so come on property pickers start picking up the phone and arranging some viewings.

If you have any questions at all, please give me a call, or pop me an e-mail over to tpatel@hamlethomesproperty.co.uk


http://www.rightmove.co.uk/property-for-sale/property-47022652.html

Tuesday, 11 November 2014

5 Top Tips For Warrington Landlords

 


Whether you have a studio flat that is paying for itself or you have 10 houses that bring in a healthy yield income every month, you’ll know what it’s like to keep your investment on par and you’ll also have a good idea of the importance of those timely and regular ‘club fees’ in terms of rent from your tenant. Here are a few of our best tips for landlords to add to your property investment caddy, which we know will help make things even easier when you’re aiming for a hole-in-one with your rental.
……………………………………………………………………………………………………

1. Neutral All Round

Firstly, it’s all about d├ęcor, and unless you can get away with bright colours in all the different rooms by claiming it’s a funky pad in the middle of Camden Town, then it’s definitely worth sticking with the plain and simple neutral shades. With this, we’re not talking Magnolia necessarily. It dates very quickly and can look cheap. Off white though, is brilliant. When it comes to carpets or flooring, go with something that will match everything. If there is a dated carpet with a floral design from the 1960’s on it, it’s time to go shopping. But none of this has to cost a fortune – smaller rooms can be fitted with off-cuts which you can often find at your local carpet shop at a generous discount.

Thing to remember is that an investment property should never be a statement of who you are as an individual. That’s for your own place and you’re own walls. The simpler, the better, and the more likely you are to let at the asking price and attract a higher calibre of tenant.

2. Maintenance

Something to definitely keep on top of is maintenance. Keep it up to date with yearly safety checks and get on top of things as soon as there is an issue, no matter how small it may seem. Small issues can swiftly turn into big problems if ignored, and then you really could have a very costly situation on your hands, not only with a bigger maintenance bill, but possibly external agencies such as the Council if tenants are fully aware of their rights and are given enough reason for complaint.

To avoid any hassle or huge layouts, make sure you have full landlord and buildings insurance from a reputable supplier, and ensure your agent routinely visits the property to make you aware of any areas that may require attention. Many Landlords run their investments by taking a little of the rent and storing it in a separate account to cover maintenance costs. This also helps some Landlords to see the property as a business concern and not a personal one.

3. Know The Legal Stuff

Whether you’re managing the properties in your portfolio independently or using an agent to do this for you, know your rights and legal bits as a landlord. There are a wealth of resources to help you with this from support organisations such as The National Landlords Association, The Property Ombudsman and even Tenant focused organisations such as Shelter who can assist in expanding your knowledge of the industry. Knowing the law can save you a lot of money, and if you’re short on time your best bet is to make an appointment to meet with an agent that is fully qualified and Ombudsman registered.

We suggest arming yourself with any pertinent questions prior to meeting an agent, and keep an eye on whether the front of house staff know the ropes legally as it’s often the younger and inexperienced team members in a high street office that will be handling the day-to-day negotiations with your investment assets – make sure you trust them implicitly.

4. Compliance’s

One thing that is a serious must is that all of your compliance’s are in place. This means a current and valid EPC, gas and electrical checks (carried out by Gas Safe and NICEIC/NAPIT registered engineers), fire checks and correct tenancy agreements for the type of tenancy; for example, where you are a landlord who lives in a converted building and you rent either a room which shares common areas with you such as a kitchen or bathroom, or if you let out each room as a self contained studio, a standard assured shorthold tenancy will not cover these particular situations as they are non-housing act tenancies which will not be covered by the statute provisions of the Housing Act 1988.
Using the incorrect contracts could mean that you are relying on an area of statute law that does not apply to your specific situation. Needless to say this gets expensive and messy if you get it wrong at the start or rush things just to get that essential first month’s rent in. If you’re in doubt, always ask a qualified agent for advice, and as before make sure they know their stuff – even go so far as to ask for proof of their qualifications before you commit to spending 10% of your rent on them.

5. Gear Your Investments

Many landlords will venture out and buy one property, or indeed inherit one, that delivers a solid income and a hassle free experience… If you’re lucky. The dark side of residential property investment, as many a veteran landlord will tell you, involves void periods, boiler breakdowns, water damage and plenty of other problems just waiting to happen. All of these come with a price tag, and lets just say the majority won’t be cheap. One investment method to soften the blow is to split larger investments, ie, a three bed house, into two smaller investments, such as one bedroom flats or studios. The theory is that, when one is vacant, the other will have a tenant living happily on the inside of those walls and bringing you a healthy income. This also gives you a little time to do any smaller tasks on the other property without the worry of not having an income at all.

Of course, all of this depends on marketing the property at the correct price, and with the absolute best level of presentation in terms of photographs, floor plans and descriptions. The best way of doing this is to get an expert opinion from a qualified agent. Even if you have the time to do your own research, it’s definitely worth shopping around and working with the agent who really does sound like they know their onions.

As usual if you would like any advice with the Warrington Property Market feel free to contact me via email tpatel@hamlethomesproperty.co.uk or call on 01925 235 338

Friday, 7 November 2014

How can you transform a rogue property into a hot property…



We have just got through another Halloween, where the streets have been filled with ghouls and ghosts, of different varieties. Whilst this annual fright night is based on fiction and designed to entertain the children, it is true that if a rental property is the victim of a difficult history, a letting agent could find that it is more difficult to let.


Houses that have been used by previous tenants as brothels or cannabis factories – or have been home to squatters – can cause problems when trying to find a new tenant. Even properties that have been owned by uncaring or corrupt landlords can develop a long-lasting stigma that will stay with the property long after it has been sold on to a new investor.

In the past we’ve taken on rogue properties, usually from a private landlord that have previously been used as a cannabis factory or used as a brothel.While it can be difficult to manage a property with a rogue reputation, it is possible to raise its profile within the community. Often the stigma can be very much in our own minds and will naturally pass away quickly. Even if the story of the property gets in the press, tomorrow there will be more exciting news, which over time, helps locals forget.

If a landlord is faced with a property like this, my suggestions would be to change the front door or paint it a new colour, develop the front garden to make it look and feel different, then give the house a new name and display it. It would also be helpful to keep the rental price aggressive to ensure lots of potential tenants are interested. It may also be a good idea to give new tenants a good behaviour reward (or something similar) for their first year or so to help encourage a sense of responsibility.”
But, of course, the best solution is to avoid a property gaining a bad reputation to begin with...

My first advice to landlords is to use a reputable agent, most criminals find properties using the private landlords advertising in local papers, knowing they are unlikely to conduct credit checks and inspections, agents will carry out routine property visits and report back to the landlord as well as undertaking proper references. In this climate a lot of small reference agencies are opening up offering very cheap fees, but how reliable are they? Owner-run businesses, in my opinion, will give a far superior and honest service. My personal belief is that we need to push the government to regulate lettings agencies and have fines in place for negligence or complete incompetence
Five top tips to let ‘rogue’ properties...

1) Paint the front door a different colour or change it completely

2) Give the property a new name and invest in a sign

3) Transform the front of the house by adding trellis and plants, or re-designing the front garden

4) Ensure lots of interest by keeping the price competitive

5) Inform locals that a professional lettings agent has taken over the property
and allow the agency’s good reputation eclipse the property’s bad one.


If you need advice or good contacts for tradesmen over the winter period or anytime of the year, drop me a call on 01925 235 338 or email at tpatel@hamlethomesproperty.co.uk

Tuesday, 4 November 2014

Wellfield Street Is Very Investable



Its been a busy morning, iv only just got around to doing my rightmove/zoopla deal hunting! Now i mentioned on my last post that 2 bedroom houses will rent all day long in warrington which is ideal for an investor as he/she can always have the pick of tenants and chances of voids are slim.

Wellfield Street is the hotspot for investing, Location is great, close to a Primary School and High School, also has a Co-op and Spar on the door step. Sankey Valley is just around the corner to enjoy nice walks, all of this and its only a 15 minute walk into town.

This 2 bedroom house which has just come on the Market is a Steal, its on the market for £75k probably needs about £10k works going into it but thats an estimation it may not need that much work going into it. It has central heating and doors and windows are uPVC according to the advert.

Remember theres always room to negotiate the price, A house like this will rent around £475 pcm. so going off the figures iv listed you would be looking at a healthy 6.6% yield.


If you need advice or good contacts for tradesmen over the winter period or anytime of the year, drop me a call on 01925 235 338 or email at tpatel@hamlethomesproperty.co.uk

Monday, 3 November 2014

Warrington 2 Bed Terraced Rent all Day Long



Good Afternoon, its not even 5pm and its already dark in warrington, i think winter is definatly on its way!

Anyway, i know its late but i have got around to my rightmove travels and look what i have come across.This type of property is getting snapped up super quick at the moment, so if you like the sound of this one, get in touch with the selling agent soon. The return on it isn't too bad wither, you are looking at about a 7.5% yield. It's on the market for £69,995k, and would be looking to rent it in the region of £450 pcm, it's a decent size house and would rent really easily. It has recently been reduced as i have had my eye on it but i think it could go for a little less so there is room to negotiate.


The works needed on this would be just a few decoration changes in the bedrooms, i would also advise replacing the wooden front door and quiet possibly the back door so probably so set a budget of around £1500 for the works.

We have people lining up for this type of property all year long! In this case, you wouldn't have to worry about prolonged void periods as there is always demand for 2 bedroom houses. Check out the details on the link below and if you have any questions at all, please get in touch.

http://www.rightmove.co.uk/property-for-sale/property-44584954.html

Friday, 31 October 2014

Warrington Apartments Make Sound Investments





This apartment is looking lovely, we can't get enough of this type of property, we could rent them all day long!

This shining example is on the market for £62,00 (bargain) which considering the condition and the fact it has parking isn't bad, it's always nice if you can squeeze a little off the asking price though, make you feel like you are getting a deal!

Bearing in mind the rental on this would be circa £450 pcm, this would look to generate a gross yield of 8.7%. Of course you would need to take into account any service charges and ground rent that would be due.

This will not be on the market long, its been on for around 3 days and i can't see it being on longer than 2 weeks, so get on the phone to that agent and work a deal.

If you would like any advise on investing in Warrington, give me a call!

If you need advice or good contacts for tradesmen over the winter period or anytime of the year, drop me a call on 01925 235 338 or email at tpatel@hamlethomesproperty.co.uk

Tuesday, 28 October 2014

A potential deal to be made in Warrington, 8.5% Yield

#property #investments #warrington #tenants #rent #buy


This property caught my eye as I thought it had quite a bit of potential, not only to increase the value of it, but also to generate you a good return as an investment for buy to let.

It needs a little bit of TLC, but to me it's only cosmetic and you don't need to go overboard if you are going to be renting it out. Some new flooring, redecoration and potentially updating the bathroom as there doesn't seem to be an image for that. It already has central heating and double glazed windows which is a bonus.

I imagine you could do this for a max of £3k. So, if you add this to the purchase price of £59,950, making a total spend of £62,950. Comparing this to the potential rent you could expect, which would be in the region of £450 pcm, you are looking at a gross yield of 8.5%!

Negotiate the purchase price to increase the yield, i would advice you to offer £5k less than the asking price then slowly working to £3k less which shows the vendor your flexible and they will walk away happy and you walk away with the refurb cost covered into the purchase.

I'm sure I'm not the only one that's spotted the potential, so get in touch with the agents and book yourself an appointment quick!



As usual, if you have seen a deal and would like a second opinion, give me a call or drop me an email with a link to the property.

Monday, 27 October 2014

Tips for preparing your rental property over winter

#property #investments #warrington #tenants #rent #buy






Here are my tips for a hassle free winter

If you need something repairing, whether it is a white good like a washing machine or a semi-fixed installation like a boiler, first check if it is covered by the warranty or guarantee period first - and also what the extent of cover is.For example, is the machine only covered for parts or is it covered for both parts and labour. Is it covered under any extended warranty you have taken out?


Check if you have a service contract with British Gas or another provider such as your home insurer? Some of these contracts offer a service line that is open on Christmas Day – though you may have to wait a little longer than usual for someone to actually come out to you during the festive period.

I would always advise people to have white goods fixed by a tradesman supplied by the manufacturer of the machine. They will know what they are doing, be familiar with the machine and if they don't fix it right you can always go back to the manufacturer and complain to their Service Help Desk. You cannot do that with a man you plucked frrom the Yellow Pages or the Internet.

Prevention

But even before you get to winter get things checked out well in advance because if you are not covered by a guarantee or warranty it will probably cost more to get stuff fixed at Christmas time (and even if you have a warranty it will take longer too.) So, if the boiler is making a wheezing noise or the washing machine is clanking, have it checked out now. 


Check gutters to ensure they are clear of leaves and other debris and have your roof checked for missing slates. Make sure your tenants know where the water stop valve is (and that they can turn it off) – this is useful in the event of a flood. 

Make sure they know where the fuse box is and that they know how to turn off the gas. Tell them to keep a note of the number 0800 111 999 – they should call this if they smell a gas escape. Ask friends for names and phone numbers of good plumbers, heating engineers and other tradespeople. Have some portable electric fan heaters you can use to give your tenants to keep them warm if the heating conks out and no one can come out and fix it promptly.

Getting the Work Done

Only use properly qualified tradesmen who are member of a national body of association. Check what membership of the body gives you and check they really are members by asking for ID
For example, all gas engineers should be listed on http://www.gassaferegister.co.uk/ (the new name for Corgi)

Decent plumbers and some heating engineers should be in http://www.ciphe.org.uk/ (which also has a list of plumber and heating engineers who are available over the Christmas period) or the Association of Plumbing and Heating Engineers. Some white good suppliers are closed for only one day at Christmas.


If you need advice or good contacts for tradesmen over the winter period or anytime of the year, drop me a call on 01925 235 338 or email at tpatel@hamlethomesproperty.co.uk

Thursday, 23 October 2014

7.4% Yield For A Starter Home in Warrington



These little starter homes are really popular with tenants, because the location's great and they are very affordable, being around the £450 pcm, however with this property as it has two reception rooms that extra space adds rental value and this will rent all day long for £495

This house is on the market for £80,000, I would definitely put an offer in for this if you are looking at investing in the area, houses similar in the same area are selling for about £90k. If you could get it for the price wanted, this would generate you an annual yield of 7.4%, which is about the going rate in the Warrington area at the moment.

Be quick, i really cant see this one hanging around for too long, it is on with Home Estate Agents Warrington.

check link below for more details on this property

If you are looking to invest in the area and want some advice, just drop me an e-mail on tpatel@hamlethomesproperty.co.uk


Wednesday, 22 October 2014

Its All About The Bigger Picture

I was browsing through properties this morning to see what has sold recently, I noticed something that made me wince on more than one occasion. I'm sure you'll agree with me on some level, whether you’re looking for a place or you've just popped your home on the market that some of the pictures are nothing short of horrendous. Take this atrocious shot by a local agent who shall remain nameless to save them any further embarrassment;



Now to anyone just browsing this doesn't look to bad, however if we compare this shot to the one below of the exact same property taken by another agent, we can see which agent wants to get the best sale on the property for their client.


Let me assure you, taking excellent photographs most certainly is not something that any old chap can pull off! Honestly, if it’s a good agent who wants to get the best out of your home this should be part of the package without question. After all, their job is to sell or let your property, not to have it sitting on their books for 6 months to a year with little or no interest, but I am still baffled by all of those home owners who will settle for those dark, dreary pictures that really don’t do any justice to their beautiful living spaces and gardens.

In this business, pictures mean everything. If someone looking at your home doesn't see just how amazing it is from those snaps taken, then they won’t book an appointment to come and actually see it with their own eyes. Luckily the owner of the property put this property with two agents if they didn't they would missing out in potential tenants or buyers. I will continue to stand by what I’ve always said – nothing beats a professional photographer. Photos that look like they've been taken on an iPhone by someone who is hung-over from a heavy night out just won’t cut it, whether it’s a cosy 1 bedroom flat or a 5 bedroom detached with a double garage and 2 acres of land.


As usual if you would like any advice with the Warrington Property Market feel free to contact me via email tpatel@hamlethomesproperty.co.uk or call on 01925 235 338

Tuesday, 21 October 2014

10% Yield on 1 Bedroom Flat in Warrington.




Good afternoon Property. Pickers! On my internet travels this morning, I came across this lovely little flat. It looks as though it's had a bit of work done it it. Perfect for buying it and letting it out straight away, with minimal input.

It is on the market with Balch for £45,000, chances are it would go for less. The area is very popular for rentals due to the schooling nearby and how close it is to the town centre. I would expect this to achieve in the region of £400 pcm. So, without even negotiating the asking price, you will receive a 10.7% yield. If you are able to buy it any cheaper, the better the yield!

You best be quick if this one floats your boat, there are plenty of people doing the same thing at the moment, so the quicker of the mark you are, the better.

If you would like any advise on where to buy your next buy to let property

http://www.rightmove.co.uk/property-for-sale/property-46677220.html

Monday, 20 October 2014

4 Warning Signs Your Tenant Is A Bad 'Un





Every landlord worries about getting stuck with a tenant who doesn’t pay the rent or doesn’t look after their property, such concerns are only natural, but you can act swiftly to stop a bad problem from getting worse if you know the tell-tale signs to look out for. These are:

LATE PAYMENTS: If your tenant is late paying their rent on more than one occasion then alarm bells should start to ring. Don’t panic if it is there first ever payment as mistakes can be made with the bank with the first direct debit or standing order. Just speak to the tenant and ask if there is a problem and just clarify that rent should be paid on the due date. However, if you are getting a few late payments then my advice would be to speak to the tenants see if they are having difficulty and discuss a way to resolve this.

REFUSING ACCESS: You should always include a clause in your tenancy agreement stating the tenant must give you reasonable access to carry out routine inspections. This will allow you to make sure the property is being well taken care of and hasn’t been turned into a drugs den or cannabis farm. Im only joking, this is highly unlikely, but id advice you to carry out a maintenance inspection 4 months into the fix term, that way if the tenants have mistreated the house then you can issue notice in line for when the fix term ends. If they are are refusing access then it might be that they have something to hide and you should make them aware that refusing access is breaking the terms of the tenancy agreement, which can lead to an eviction.

CONSTANT COMPLAINING: If you suspect that tenants are starting to find things to moan about it could be that they’re trying to find excuses to withhold their rent. This most usually happens in the last two months of the tenancy, when tenants become nervous that they might not get back all of their deposit. If you respond promptly to any maintenance issues you’ll put their mind at ease and the end of the tenancy will run smoothly.

THE SILENT TREATMENT: If a tenant stops paying their rent and fails to answer your calls, letters or emails, there’s only one way this is going to end and that’s with their eviction. Don’t waste time, issue the correct notices and start the eviction process to reduce the amount of arrears

Friday, 17 October 2014

20% Yield Investment Opportunity in Warrington




Just doing my end of the week Right Move browsing and i have just come across a little Gem, Now this property is on the market for £110k but this will not be on the market for long.

The property is in Fearnhead, very close to the university campus and can easily be converted to a 6 bedroom Hmo, costs to convert this would be around £15k, we have had a similar investment come our way in the same area about 6 months ago and is operating successfully the only difference is that it was a 5 bedroom converted to a 7 bedroom. So using previous calculations i estimate that the total cost including the purchase price will be around £125,000.

This area brings in rent of £70 pw to £105 pw. you will be expected to achieve a 20% yield on this investment.

Don't hang around this will be snapped up very quickly. Get on the phone and arrange a viewing the property is on with Edwards Grounds, Culcheth.

http://www.rightmove.co.uk/property-for-sale/property-32696742.html

Thursday, 16 October 2014

3 Bed vs 2 Bed in Warrington in 2014



Which semi detached house should I buy in Warrington? One of our landlords asked if they should buy a 3 or 2 bed semi detached property to rent out to tenants. The first question I asked them was what are they looking for from the investment - capital growth in the property or a great yield?

Answering this question will help you figure out which properties you should buy...The average asking price of a 3 bed semi in Warrington is £157,950 today compared to £125,000 for a 2 bed semi. The 3 bed semi achieves an average rental price of £650 per month compared to £550 per month for a two bed semi.

That’s a yield of 5.3% for the 2 bed against 4.9% for the 3 bed. So surely, the 2 bed semi is the better bet? Well it does offer a better rate of return, but the 3 bed semi is slightly easier to rent out (less void periods) and will be easier to sell in the future.

If you would like more information pop in to see us at our office, or give us a call.

Wednesday, 15 October 2014

2 Bed Houses in Warrington rent like Hot Cakes!




Landlords always ask me what type of property should they buy next for their next investment, my answer is always "2 bedroom properties". It doesn't matter if it's a house or a flat, either will rent all year round. Flats will appeal to professional couples who might be commuting, as there is generally no garden to maintain. Houses will appeal to couples or small families, who need a garden.

I've picked this one out from my Rightmove surfing today and thought that this was lovely. It's very nicely presented from the outside, needs to be modernised inside, looks like it needs central heating throughout and new flooring and decor i estimate around £10K refurb cost. Just look at the details on the link below:


http://www.rightmove.co.uk/property-for-sale/property-45469492.html


On the market for £95,000, which considering the condition and the fact it also has a garage, isn't too bad. (It's always nice to try and get a bit of money off though isn't it!)


You would be looking at a rental figure in the region of £550 pcm realistically, which would generate a gross yield of 6.3%. Whilst this may not be one of the highest yields you can get in the Warrington area, if you take into account the desirability of the property, you are unlikely to have long void period, which you might with a property in a not nice area or not great condition/style. 

If you have any questions regarding your search for an investment property, give me a shout.




Tuesday, 14 October 2014

Blindin' Buy To Let apartments in Warrington


In Great Sankey, just off Forest Close, is this modern development with high spec. apartments & houses. This block isn't that old, only having been built within the last 8 years, so it should be fairly low maintenance.They offer great size accommodation and quite high rentals given the quality of them. 

Although not in the Town Centre of Warrington, it's not too far out, so commuters may still consider this sort of area. Advertised with Edwards Grounds, Warrington at an asking price of £65,000, you would look to achieve rent in the region of £450 pcm. Therefore producing you an annual gross yield of 8.3%

Being a modern property, you won't have to worry about doing any work to it to get it market ready, but you will have to take into account service charges etc as this will be leasehold.

http://www.rightmove.co.uk/property-for-sale/property-32281779.html




Just before i leave you with this, the same area also has a great deal on a 2 bedroom apartment.

Now with a 2 bedder in this area will bring in about £500 rent, with the apartment on the market with Entwistle Green for £75,000 your probably looking at around £2k worth of works and expecting a gross yield of 7.8%

One thing to consider here is that in the 'Boom' these 2 bedder apartments where selling at £140,000 where as the 1 bedders where going for £120,000. It is worth considering the capital growth.

http://www.rightmove.co.uk/property-for-sale/property-45160006.html?premiumA=true

For more advice on where (or not) to buy your investment property, give me a call or send me an e-mail. tpatel@hamlethomesproperty.co.uk

Monday, 13 October 2014

Monday deal of the day in Warrington with a 8.5% return!





Good Morning, hope you all had a good weekend and are now ready to start looking for some investment properties this week!

On my Zoopla travels this morning, I noticed this 2 bedder . It is a nice example, nothing too fancy, but it looks to be nicely presented. This area is very popular with tenants as it's not too far from the town centre and also has easy access to main road links as well. 

It's on the market for £70,000, which doesn't seem too unreasonable and I would expect to be able to achieve in the region of £495 pcm rent. Based on these figures alone, you could be looking at an annual yield of 8.5%. 

If you require any advice on where to buy (or not as the case may be), drop me a line or send me an e-mail tpatel@hamlethomesproperty.co.uk


Friday, 10 October 2014

Bite Sized Buy To Let Advice. Size is not always the main consideration, quality and location are more important.


Investing in new-build flats, old houses or purpose-built halls of residence and pods all have merit in different ways. It depends on your investment objectives, time frames and budget.

Before investing there are numerous things you need to research including – but not limited to – cash amounts, mortgages and rates, fixed costs (such as service charges in flats), potential repairs and improvements, furnishings, gross and net yields, plus likely returns on capital employed.

Investing in a university town is good, especially close to the university itself, Or near hospitals as there will be many doctors and nurses both students and professionals looking for accommodation. Always make sure that the property has sufficient bathroom and kitchen facilities to match the number of likely occupants.

2 Bedroom properties seem to be the most popular, either houses or apartments, larger bedrooms are better than singles, good nearby transport links are also useful and double-glazing is becoming a requirement for most tenants. 

Location of the property is vitally important, The main drivers are access to train stations, good shops and restaurants local schooling can also be a factor.

The condition of property should also be considered. Tenants want dry, structurally sound properties in good condition (cracked fittings, marked walls, damaged appliances, grubby kitchens and bathrooms are all a turn off).

Think carefully about the size and layout of the accommodation too. Most tenants will dislike small living spaces & odd shaped rooms.

Also remember, tenants have a strong sense of rental values so the days of landlords setting the rent to cover their mortgage are gone and they must therefore buy wisely.

A BTL property should look good from the outside (kerb appeal). If the inside is immaculate but the outside isn't you will struggle to get people through the door.

Think about the age of the property. The younger the property, the less maintenance you will have. If you purchase a character property, I would strongly suggest that BTL landlords have the gas and electric checks done on the property before Exchange of Contracts. If problems are found the cost of rectifying the issues could potentially come off the agreed sale price.