Deal of the Day - 1 Bed Apartment, Downton Court, Hollinswood, Telford - 9% Gross Yield Close to Telford Town Centre!

Morning landlords...

I have many clients who like Hollinswood for its location, it’s a stable area for letting flats and houses, and is popular with landlords.

Because of its popular location this Hollinswood apartment will let very well, and shouldn't take long to let. With easy links Telford Town Centre, Southwater, Telford Central railway station, the M54 motorway and the A442 road links, this will suit either a first time landlord or someone looking to build on their portfolio.

On at a guide price of £40K with BJB, this apartment can achieve a least £450 pcm, and if purchased and refurbished at say £55k (and that’s based on speaking to other landlords and investors) would give a yield just over 9.8%

This is a leasehold property with 99yr so it’s worth checking with your solicitor how much it would cost to extend this lease as this will have a bearing on resale value. out how long is left on the lease.

If you would like any further information on the Telford property market please drop me an email at martin@ letwithsignature.co.uk. 

Deal of the Day - 3 bedroom Semi, Upper Road Madeley Telford - Potential to Add Value

Morning landlords

Located in a cul-de-sac position in the heart of Madeley with access to local amenities and good schools including the Madeley academy this property offers solid BTL benefits, such as location, parking and a downstairs loo!

Looking at the floor plan I believe there's scope for making the dining room and kitchen as one large contempory space. With regards to rent I think £625 should easily be achieved and if purchased at the list price from DB Roberts for £123,950 it could offer a gross yield of 6% maybe more if negotiated. Looking at the list price I think that the cost is probably a little high based on some of the most recent comparables I have.

See more at goo.gl/FTDxhG

If your thinking of buying a rental property in the Telford area please give us call on 01952 306 444 we are always willing to help out with advice or support.

Friday's Deal of the Day - 3 bedroom Semi - Preston Grove Trench Telford, - Rooms at £400 per month?

Good morning Telford Landlords and Investors

 

 

I've been driving past this house since it went on the market back in Aug with DB Roberts. I manage a couple of houses along this street where we let out rooms within a property. 

                                    

Located close to both Stafford Park and Hortonwood this is an ideal location for employees at such companies such as Denso & Stadco.

 

Within walking distance to local amenities and main transport links across the county Trench is a good location for both families or individuals.

 

See more at goo.gl/hGKIyL

 

On a family dwelling a monthly rental of £595 can be achieved offering at gross yield of 5.3% if purchased at list price, however looking at my comparables for house sales in this area I think there's some further negotiation to be done!

 

Now if you decide to rent rooms on an individual basis the rent could range from £350-400 per month per room, however there's an expectation that utilities within the rent. That said rent could be £1,150 per month giving a gross yield of 10.3% - again there could be more to be achieved if purchased at a cheaper price and if you added an extra bedroom.

 

There also some additional work to be done if wish to rent rooms. To be compliant with the law you will need fire doors, and there's a checklist of jobs that will need to be completed before renting out. If you've never rented rooms out within a house please give call on 01952 306 444 as I'll be more than happy to talk you thorough the process.   



Deal of the Day - 3 bed Semi-Detached, Sixth Avenue, Ketley Bank, Telford - £575 pcm and a Good Supply of Tenants!

Good morning readers...

 

When I seen this property come up for rent I was very excited. With my landlords hat the one thing I always look out for is the supply of good tenants in an area. Having let many houses around this area I know that there is good supply of quality tenants as Ketley Bank is located close to Telford Town Centre and Stafford Park where many of Telford's major employers are based.

 

The property has downstairs toilet and parking which tenants are keen to see in a property -see more at goo.gl/N6rXEG

 

Looking at the data, the property was last sold in 2007 for £94,500, and viewing the pictures there looks like some light refurbishment but nothing too major, so I think its probably not too far off the mark, but cash buyers may have a little more leverage.

 

 

A rental value £575.00 per month should be achievable, so if the property was bought at the asking price the gross yield would be 7.2%

 

As always please give me a call on 01952 306 444 or email at martin@letwithsignature.co.uk I you would any support regarding investing in Telford and the surrounding area.

Deal of the Day - 2 Bed End Terrace, Haybridge Road, Wellington, Telford - Ready to Let !

On with Harwoods for just shy of £110k, this end terrace on Haybridge Road looks reasonable value for money...however based on some recent sales nearby I think there could be a little more negotiation to be done.

Located with good access to Wellington and the M54 to Telford & Shrewsbury this property will be popular with prospective tenants. A monthly rental around £575 per month should be easily achievable, and if purchased at list price the gross return could be 6.2% maybe more.

See more at goo.gl/mrtOVc

As always, if you would like my thoughts on investing in the Telford property market please give a call on 01952 306 444 or email me on martin@letwithsignature.co.uk

Friday's Deal of the Day - 2 bed terraced, Springhill Crescent, Madeley, Telford - 8.25% Gross Yield - Good First Time Investment

 

Good morning Landlords & Investors...

 

When I seen this property it reminded me of similar property I helped a landlord but a couple of years ago. The property was a two bed and located near Broseley, it was a similar price and ready to let...

 

See more at goo.gl/1CamHa

 

This property on with DB Roberts at £80k looks good value, maybe there's more margin if you get your negotiators hat on!

 

The property should rent around £550 per month, and 2 beds are very popular in this area so there shouldn't be too much of an issue getting a good tenant.

 

As always, if you would like my thoughts on investing in the Telford property market please give a call on 01952 306 444 or email me on martin@letwithsignature.co.uk

Deal of the Day - King Street, Wellington, Telford - Good Location & Potential to Add Value

Good morning landlords and investors...

Many of you may have seen this property which is located within waling distance to Wellington Town centre.

Up with DB Roberts with an auction guide price of £95k this property needs some internal and external refurbishment. Now, this property is been sold by the "Modern Method of Auction" which I would recommend speaking with the agent to clarify...

There's a potential of achieving £600 pcm so depending on the purchase price and refurbishment costs gross yields could achieve anything from 6-8%.

I think what's more interesting is the long term capital growth of this property and the good supply of tenants who will be searching for good quality accommodation close to the town centre especially with young professional sector.

Click here to see more details goo.gl/h2rltY

As always please give me a call on 01952 306 444 or email at martin@letwithsignature.co.uk I you would any support regarding investing in Telford and the surrounding area.

Deal of the Day - Spout Way, Malinslee, Telford - Ideal for Telford Town Centre

 

Morning Landlords...

On with DB Roberts with a guide price of £65k and to be sold via auction, this is one for landlords who don't mind getting their hands dirty, as a good refurbishment is needed. However, once done a rent of around £595 pcm can be achieved. Now if your total costs for purchase and refurbishment was £80k a gross return of 8.9% could be achieved.

 

Close to Telford town centre and the new Southwater development, the railway and bus stations are within walking distance. Coupled with easy road access to M54 means Malinslee attractive to lots tenants working at the many companies located in and around Telford Town Centre.

           

See more at goo.gl/8EQ2cn

 

As always, if you would like any advice or my opinion on the Telford property market please feel free to call or email on 01952 306 444 or martin@letwithsignature.co.uk  

Friday's Deal of the Day - 2 Bed of Terrace, Hadley, Telford - Potential Redevelopment - Gross Yield from 8 -14%!

 

Good Morning Landlords...

 

 

On with Butters John Bee for a guide price of £65k this property will be sold at auction on Mon 19th Oct 2015. Check the catalogue for viewing details and more information if you haven't purchased at auction before goo.gl/TWTKyd

Looking at the configuration of this property it looks like there is the potential to improve the back of the downstairs and merge the kitchen and the dining room to create one open space. There's increase demand from tenants for open living space, and tenants perceive added value if you have a downstairs toilet and utility room.

Rental for a family dwelling should be around £575 pcm. So, and this is a bit on an assumption, if you purchased the property for £80k and the refurbishments costs were 15k the gross return could be around 8%. My experience tells me that properties which are refurbished to a high standard attract good tenants, which makes life so much easier!

However, there's demand in the Hadley / Trench area of Telford for room only options. Conversion of this property to create 4 rooms can be done but the refurbishment costs will also be higher. There are more pitfalls to be aware of, but the returns increase with rooms renting from £350-400 per room per month or £1400 - £1,600 pcm for full occupancy per month.

As always there are advantages and disadvantages to the above options, but if you would like any help or support with your next investment please drop me a line on 01952 306 444

Deal of the Day - 3 Bed Terrace, Burford, Brookside, Telford - Tenanted with 7.8% yield.

Good morning landlords, Nick Tart have just marketed this property in Brookside which is currently tenanted for £82,500.

Now, we don't normally have too many properties that are sold with tenants in situ, but I thought this might be worth investigating further, as there are some advantages and disadvantages of purchasing with tenants already in place.

There aren't any internal pictures and the agent is saying that the property would benefit from some improvements, based on this I would be wanting to know if the tenant has asked for any repairs to be carried out, and if so have they been done and when? Also, have the tenants paid a deposit and if so which scheme was it deposited into and what date was lodged. Other questions to ask would be - are there any rent arrears, what type of tenancy agreement is in place to name just a few.

The advantages are that you have a tenant paying (hopefully) the rent so there should be a void causing you to pay council tax and mortgage payments.

As always, if you would like to know more about buying investment properties in the Telford area please give me a call on 01952 306 444 or drop my an email on martin@letwithsignature.co.uk

Thanks for taking the time to read the blog.

Deal of the Day - 3 Bed Semi, Rose Crescent, Wellington, Telford - Great Potential & Yield

Good morning landlords

This property has just come on to the market with Hamels for £99,950.

Located in quiet cul-de-sac close to Wellington town centre, This property offers good long term growth and good supply of tenants, with a monthly rental of £625.00 pcm.

See more at goo.gl/udZR52

If purchased at list price the gross yield could a healthy 7.5%. Maybe more if negotiated well...

Recent property sales in the close have varied from £120-130k, and looking at the floor plans there's scope to make the kitchen / dining rooms area as one contemporary open space adding value for any future sale.

If you would like to know more about investing in Telford please give me a call on 01952 306 444 or drop me an email on martin@letwithsignature.co.uk.

Fridays Deal of the Day - 3 Bed Terrace, Newfield Drive, Trench, Telford - Good Location, Return & Tenant Pool

Good Morning Landlords, when I seen this property come on to the market I thought I would share my experiences with you regarding the last house I had previously let in this street. My records show that we had 8 viewing in two days and 3 good offers - it rented at £625.00 pcm

Conveniently located just off of Wombridge Road, and within walking distance to local shops and amenities this property is perfectly situated for local transport links across Telford. Tenants working at Stafford Park, Telford Town Centre, or Hortonwood. will find this an ideal location.

On with DB Roberts for offers over £90k this would make an ideal purchase for a first investor (or someone looking to build their portfolio) giving a gross yield of 8% if purchased at the asking price.

See more at goo.gl/5K05PE

As always, if you would like any advice or my opinion on the Telford property market please feel free to call or email on 01952 306 444 or martin@letwithsignature.co.uk