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

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!

http://www.rightmove.co.uk/property-for-sale/property-32522232.html

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.

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

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

http://www.rightmove.co.uk/property-for-sale/property-48846713.html

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

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

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

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

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.

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.

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 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

http://www.zoopla.co.uk/for-sale/details/12558273#xXvlMhosBJ84QEyv.97

Street Stats

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.

Midweek Deal - Warrington buy to let option!

Check this property out! Just been reduced from £90k to £80k, I recommend that if you are in the market for a buy to let property, you should consider this one. It looks to be in great condition, OK the kitchen perhaps isn't all singing, all dancing swanky, but it looks to be in good nick. Perhaps the kids bedrooms need to be neutralized (£500).  We rented a house like this out very recently for £525 pcm, which on a purchase price of £80k, generates a very healthy 7.8% yield.

More details on the link below. Be quick though, I'm sure I'm not the only one who has spotted it!

http://www.rightmove.co.uk/property-for-sale/property-31820196.html

All Good Things Come In Small Packages - Fearnhead

On my routine search through Rightmove, I came across this charming little studio apartment in Fearnhead, with the bargain price tag of £49,950. I know it's not the largest of properties, but the yield is great. You would expect to rent this out for £375 pcm with just a lick of paint needed to the property (£1000) this would generate a 8.8% yield!

The thing to bear in mind with this type of property however, is that you may not necessarily get a 'Long Term' tenant in here, studio apartments get grown out of quite quickly, so you may need to look for a new tenant every year, which is something you would need to take into account when you are doing your sums. On the flip side though, you will rarely have a void period with this type of property, as demand in this area of the market is always really high.

Food for thought, though isn't it.

http://www.rightmove.co.uk/property-for-sale/property-32409588.html

Looks can be deceiving in Warrington

This house is a bit of surprise, I came across this on Rightmove whilst doing my routine nosey, (it's always good to keep abreast of what's going on in your local area) Whilst not so attractive on the outside, inside is lovely. The current owner has clearly spent quite a bit of money here, (saves you the trouble if you buy it!)

Just come on the market for £124,950 & because of the condition it's in, I'm sure there will be plenty of people lined up for it, so be quick. I have seen that one similar recently on this road for £600 pcm. Based on these figures, this would produce a yield of 5.7%. Being freehold as well, means that you probably wont have to worry about any other costs such as maintenance charges, like you do with flats

If this one floats your boat, get in touch with the agent asap, link below for more details:

http://www.rightmove.co.uk/property-for-sale/property-30981033.html

Warrington Town House 7% Yield

Just wrapping up the week with another great property that I have seen today on my Rightmove travels. A 3 bedroom house on Willis Street, for only £89K! Ok, looking at the details, it will need Modernising throughout, after making a call to Edwards Grounds (Agents) iv estimated around £5000 for refurbishment but when you look at the yield it will produce, it's worth while doing it.

This would rent in the region of £550 pcm, giving you a 7% yield, great right?

Full details below, but be quick, or you'll miss out.

http://www.rightmove.co.uk/property-for-sale/property-31431381.html

Warrington Property Market Growth vs Yield

Last week, a couple from the Chapleford area came to discuss potentially investing in property for Buy to Let. One of the most important considerations you will make before investing is the balance between annual return/yield and the annual value increase/capital growth. Chapleford Village is one of the most sought after places to live on the west side of Warrington. The average two bedroom terrace house sells at around £175,000 and rents are roughly £800 per calendar month.

With this in mind, it was a surprise to find that similar sized two bedroom terrace houses on Hazel Street just off Marsh house lane, have outperformed those on Chapleford . This is because a two bedroom terrace house on Hazel Street can be bought for around £70,000 and the achievable rents can be around £475 per calendar month.

The yield which could be achieved from property on Hazel Street is around 6.7% per year. When we compare this to the possible 5.4% on Chapleford it is nearly 24% higher on Hazel Street.

However, we must remember that yield is not the sole consideration when investing in Buy to Let properties. The average value of a two bedroom terrace house on Hazel Street in 2011 was £95,000 which has since dropped by 35% in the last 3 years. A two bedroom terrace house on Chapleford in 2011 was £99,995, meaning the value has increased by an impressive 75% in the same 3 years.

If you would like more information on investing in Warrington property market, please call me or visit our offices.

If you enjoy reading my articles please visit the links below to view back dated issues.

Facebook, https://www.facebook.com/hamlethomeswarrington

Twitter,https://twitter.com/HHWarrington

Website,http://www.hamlethomeswarrington.co.uk/

What to look for when buying property in Warrington...

I was talking to a landlord recently and they asked me for my opinion on what to look for when purchasing a Buy to Let property. One piece of advice I was able to offer , was that a good property should sell easily when you need to release funds. So, if you are a landlord considering buying a property to let out, you want to buy a property that is saleable.

You can work out how saleable the properties in a particular street are by comparing the number of house sales to the number of properties in that street. The higher the number, the more saleable the properties are.

So, having done a bit of research, in Warrington, one of the most saleable streets is Collin Street, it’s a small-ish road with only 23 properties in the street but in the last 10 years, there have been 21 property sales which is an impressive 91% sales to properties. Other streets in the top 10 include Berkshire Drive at 84.2% and Radley Street at 87%.

Whether you are landlord of ours or not, feel free to pop into our office on Crosfield Street for our opinion on what to invest in or not, as the case may be.