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Walsall buy to let property
Net Yield of about 11.5%, based on a monthly rental income of £495.
Leamore Lane, Walsall, West Midlands WS3
This super little two bedroomed house is currently on the market for around £54,000. Situated on Leamore Lane, Walsall, West Midlands, WS3, it is set to be auctioned by Cottons Auctions on the 3rd December 2015. This is a great property investment with bags of potential, the fact it also has a garden is a bonus.
If you are looking for a buy to let investment you could do a lot worse than this two-bed property, where the average terraced house price in the surrounding area is £104,000. With a guide price of between £48,000 and £54,000, this mid-terraced brick property has a Net Yield of about 11.5%, based on a monthly rental income of £495.
This house has a great layout, a tiled roof, gas central heating, a rear garden, and doesn't require too much work in order apart from a bit of modernisation. School and transport links are plentiful, with three nearby train stations Bloxwich (1.0 mile), Bloxwich North (1.6 miles), Walsall (1.7 miles), you are in fact spoiled for choice, not to mention Birmingham International Airport being a mere 15 miles away.
If you are interested in this Leamore Lane property either as a buy to let or for your own use, be sure to attend the auction on the 3rd of December. For more information, see http://www.cottons.co.uk
These terraced houses are very popular with tenants, and we are constantly receiving calls from prospects looking to rent these type of properties, so if you are looking to invest in Walsall and looking for a good yield these are the type of property to obtain
We offer full property management services for all our Walsall properties and have experienced contractors on call night and day to resolve any issues.
Please give Red Key Walsall Lettings a call we love to talk property.
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Perfect 3 bed detached house for sale, Guide Price £200,000, Wolverhampton Road, Pelsall WS3, Potential yield of 6 – 10%
Pelsall has a friendly suburban feel and is a desirable area of Walsall. This makes the property in question a real steal! You are very unlikely as a buy to let landlord to find properties of this quality very often. It has been priced to sell as the current owner’s need a quick sale so there could still be a deal to be done.
More information can be found on this Pelsall Buy To Let Property
This stunning Pelsall property needs to be seen to be believed particularly for the price. Yields can be expected of between 6 – 10% exceptional in the current climate. This is an ideal property for a buy to let landlord that doesn’t have time to modernise or improve the property and wants to get it immediately let. This Pelsall buy to let property once bought will rent immediately and has vast capital growth potential.
The extensive driveway can house several cars and as you enter the property you will see it has been modernised and enhanced throughout. The property is modern and spacious and comprises in brief of a porch, hallway, impressive through lounge/dining room, fitted breakfast kitchen, conservatory, downstairs cloakroom, and three well-sized first-floor bedrooms. To complete this picture a modern fitted family bathroom, large garden with luxurious garden and decking area, double glazing and central heating throughout.
For help with buying this Pelsall property and letting it as a buy to let landlord or for any help or support please contact iLove Homes Walsall 01922 669996
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An excellent 6 bedroomed detached investment opportunity on Highgate Drive Walsall
If you have £795,000 lying around, or you don’t mind picking up that kind of mortgage, then this Walsall detached house for sale is an absolute steal for the potential growth and profit that it can bring later on down the line. I know the owner and he's a motivated seller!
Not only is this 6 bedroom house on the large side, even for this many bedrooms, but the separate ‘coach house’ could be rented out apart from the main property, with a little work. The area itself could be described as affluent, although this is the only property of its size on the road so it makes comparisons a little tricky - especially with the ‘extra’, that I will tell you about very shortly.
The current owner paid somewhere in the region of £653,000 for this property, so they are clearly looking to make a profit. Obviously, there is nothing wrong with that, but where would that leave future potential buyers, and why do I think that this is a steal at over £100k more than the original sale price?
Well, I’m glad you asked. It all comes down to the little ‘extra’ that I told you about, and you can confirm yourselves on the property listing at Rightmove.
When you buy this house, you also receive the required planning permission to turn it into nine apartments - with new build extensions. Yes, nine of them. You could still rent out the main house and the coach house ‘as is’, of course, but if you have the capital to make the conversion and turn this spacious property into a nine apartment building, then frankly you’d be crazy not to.
Considering the area, there is no reason why you couldn’t let each apartment for £500 or even £600 per month. At £600 pcm, that’s £5,400 a month rent. Of course, depending on how much the renovations set you back that figure may not be an awful lot of profit to begin with but as with any kind of investment you should be looking long term.
There is also the appreciation factor, also. Right now The Hawthorns is worth slightly under £800,000 but after the conversion, that figure could easily increase by at least 50%.
Whichever way you decide to look at it, this is an excellent opportunity for the right buyer to add to their portfolio - either long, or short term.
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3-bed buy-to-let opportunity on Mulberry road Bloxwich Walsall.
This bargain Buy to let in Bloxwich Walsall is Listed for £105,000 and in my opinion, is an excellent opportunity for anybody looking to get into the buy-to-rent business. The details for this property can be found over on Zoopla, but just to summarise a little bit, and explain my own observations, this is a great opportunity for several reasons.
Firstly, the size of the property means that you wouldn’t have to restrict yourself to letting the whole house to just one person/family. With two double rooms and one single, the rental opportunities could potentially outstrip the average for the area, which is currently £437 a month.
Even a flat charge of, say, £80 a room per week is going to give you a monthly rent of £1,280. I think you will agree that a monthly return of £843 a month above the postcode average isn’t exactly small change.Now, you may be thinking ‘well, what makes this property so remarkable - surely the others in the area, or even on the same road, are comparably priced?’.That’s the thing - they aren’t.
The closest matching property, currently up for sale, on Mulberry Road, is being priced at £125,000. This house is similarly sized, but has a much smaller rear garden and no driveway. The lack of private parking is enough to put off many buyers, which makes the price difference even more startling.
Now, if you were to go the shared house route then that larger garden is going to be a great selling point - especially for young professionals.
And, of course, that driveway (large enough for two vehicles) is not going to hurt either, and neither is the proximity of the house to the town centre and train stations (two of which are within walking distance).
With Walsall going through a property regeneration over the next few years, now is the ideal time to get in on the act before prices start going back up again.
I often speak to landlords looking to purchase more properties or occasionally looking to sell for cash flow purposes. If you love Property and the buzz of buying and selling like me, then please give me a call I love to talk property.
If you have any queries, tips or comments for us then drop us a line!
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Red Key Walsall Lettings is often called by disgruntled and un happy property owners and landlords looking for an alternative lettings Agency, with the service they are currently obtaining very poor, regards communication and hidden fees. They are looking to move agency, and don't know how, or are very reluctant to change whilst they have a current tenant. If you have a property in the Walsall area and are unhappy with your current lettings agent then why not switch? It may seem like a lot of hassle; however, the process could not be simpler
How to Change Lettings Agents
1. Find out how much notice you are required to give your current agent. This is likely to be 1 or 2 months and should be contained within the Terms of Business you signed. If you cannot find it, simply contact them and ask them. Once you have this information, give them the required written notice to end your agreement with them. It will be simplest if your notice ends on a rent due date as it will make the rent payment switching process much easier.
2. you will also need contact details for the current tenant which your current agent should provide.
3. Red Key Property Lettings Walsall will contact your current tenant and arrange a meeting with them at the property to introduce ourselves and to explain what is happening. This will involve them adjusting their standing order to pay us rather than your current agent. The timing of this switch will depend on when the notice you give your current agent expires.
4. We will send you our paperwork for you to complete and sign.
5. At the point of taking over management, we would usually produce a new tenancy agreement for the tenant to sign. We feel more comfortable using our own as we know the contents and our legal experts have ensured it is up to date.