(covering SK1, SK2 and SK3)

Tag: Buy to Let Deal

a house that will make your investment dreams come true with a 14.6% yield…

Hello Readers,

I hope you are well on this strange November day – so far today I have seen three seasons in one day – some sun and blue skies, grey dark and gloomy skies, torrents of rain and even a rainbow.  Strange!

However, I thought I would warm your spirits with a fantastic opportunity to purchase a HMO property.  Don’t know what a HMO is, no worries.  It is simply an abbreviation standing for a House of Multiple Occupancy.  Still no wiser, well it is a property whereby multiple sharers live in one property each with their own personal bedroom, but sharing a living room/communal break out space and a kitchen.  In some HMO properties you would also share bathrooms – there may be one or two bathrooms, but in others you would have your own ensuite.  Each tenant would pay for their own room on a monthly basis and they would also pay for all their bills to be included.  The tenants would not necessarily know each other and its a great opportunity for people new to an area to meet other like minded people and/or to have a cheaper rent whilst they relocate and find their feet in a new area.  These types of properties are extremely popular with students, recent graduates and people relocating to a new area.

Landlords love HMO’s and I have several investors who will only buy properties which can be converted into HMO’s, but there are a couple of issues finding the perfect property to turn into a HMO in Stockport as Stockport (well the area’s that I cover from the Julian Wadden Stockport Exchange Branch) are generally two bedroom terraces, so to find a property that can be converted is quite specific as the cellar needs to have a good head height, or you need to be able to convert the attic into a bedroom easily as its all about yield!  With a HMO you need to be able to have 4 plus bedrooms in order to make the figures stack up, but then to also be able to have the required number of bathrooms and living rooms to ensure the property falls in line with the HMO regulations is not an easy task.  You also need to provide all the furniture and be prepared to pay for damage to communal areas, as its pretty impossible to lay blame to one tenant and therefore request monies from their deposit.

Today however, I have done the impossible and found the perfect HMO!  Go me!  I have found a property that is on the market at a fair price, which would be able to provide you as an investor looking for the perfect HMO with enough bedrooms to have a very good yield and would meet the HMO regulations with a little bit of a reshuffle!  And… here it is… a 5 bedroom semi-detached house for sale on Glenmoor Road, Offerton and on the market for a very reasonable £260,000.  I say reasonable, I know we don’t all have this amount of money sat in our bank accounts but the price is reasonable for what you could do with the property.  I believe that you would be able to get 7 or 8 bedrooms in this property – 2 bathrooms and then you would need a communal living area which would be a lovely lounge/conservatory area at the rear of the property.  In order to do this and to modernise the property I think you would need to spend about £20,000 but then the rooms would rent out at £400 to £450pcm (before bills) which would give you a monthly income of £3,400 per month.  This means the yield would be 14.6% which is absolutely fantastic!

I know my HMO investors will now be quite excited, so let me tell you a little more.  The property is on the market with Bridgfords in Hazel Grove and although its not very modern, its certainly very well presented and in good condition.  It has a large, beautiful lawned garden and a driveway for at least a couple of cars.  If you were to take a little of the garden away, you would be able to provide off street parking for multiple tenants meaning the neighbours would be happy too!

For more information about this property or HMO’s in general or even if you are looking for a rental property in the area, please do not hesitate to contact me on 0161 474 8668 or email me at stockportlettings@julianwadden.co.uk.

Happy investing!

Gemma Lowe

Continue Reading

week two in the homes under the hammer style series at wrights bank, stockport…

We are one week into the works at this property in Wrights Bank, Offerton and although it is looking a little messy right now, there is definitely a change and works are certainly underway! Today I was there whilst Cheshire Lawns and Gardens were on site completing works to the garden and tidying it up so I am very much looking forward to seeing it next week and seeing the finished lawn. If you have a property that you are getting ready for Lettings why not give Gemma a call in the Stockport Exchange Branch on 0161 474 8668?

We are one week into the works at this property in Wrights Bank, Offerton and although it is looking a little messy right now, there is definately a change and works are certainly underway! Today I was there whilst Cheshire Lawns and Gardens were on site completing works to the garden and tidying it up so I am very much looking forward to seeing it next week and seeing the finished lawn. If you have a property that you are getting ready for Lettings why not give Gemma a call in the Stockport Exchange Branch on 0161 474 8668?

Posted by Julian Wadden Estate and Lettings Agents on Wednesday, October 24, 2018

 

Continue Reading

a lovely three bedroom semi-detached house with a 6.4% yield in rostherne road, sk3

Hello Readers,

I hope you are all well and enjoying these lovely Autumnal days!

I am quite sure that a lot of you are getting towards this final quarter of the year and thinking, did I achieve all I wanted to achieve in 2018?  Did I purchase that investment property and put my money into property as I vowed to do, to maximise on my income and future earnings?  If the answer is no, then I have a fantastic investment opportunity for you!

This property is in Rosetherne Road, SK3 and it is on the market at offers over £150,000.  It has three good sized double bedrooms and has been recently refurbished throughout to a high standard.  The walls have been white washed throughout and the kitchen and bathroom are modern and appealing – to buyers and tenants alike.

If you were to purchase this property you would have no works to do, as its ready to rent out straight away and if purchased for £150,000 then you would be looking at a yield of 6.4% as I believe that you would be able to achieve at least £800pcm.  The property is situated in a lovely part of Stockport, in a nice residential area, with good schools and lots of local amenities on the doorstep.

So, if you are looking for one more property before the end of the year to complete your portfolio, or you need to fulfill your New Year vows to invest in property then look no further.

For other investment opportunities or information on buy-to-lets then please give me a call on 0161 474 8668.

Gemma Lowe, Lettings Manager, Stockport Exchange

Continue Reading

week one: homes under the hammer style video from julian wadden stockport as this investment property completes and the refurbishment works to start…

An investment purchase completed in Wrightsbank, Offerton…

This property has completed today in Wrightsbank, Offerton, SK2 today so Gemma Lowe, Lettings Manager from Stockport has collected the keys and completed this video to show you the property in its current condition and she will keep you updated as the works are completed in order to get the property ready for the Lettings Market! So, watch this space!

Posted by Julian Wadden Estate and Lettings Agents on Monday, October 15, 2018

This property has completed today in Wrightsbank, Offerton, SK2 today so Gemma Lowe, Lettings Manager from Stockport has collected the keys and completed this video to show you the property in its current condition and she will keep you updated as the works are completed in order to get the property ready for the Lettings Market! So, watch this space!

Continue Reading

A wonderful opportunity to purchase a buy-to-let property with a 7% yield…

Hello Readers,

I have been scouring the market and found this property for you today.  It is in a very central location and it is actually just around the corner from our office on the A6, so its a very good location and one that I can vouch for!

The property is in a recently redeveloped building called ‘Archer House’ which was originally the Inland Revenue building for Stockport.  The building was offices which were converted in January to April 2017 and completed at the start of May 2017.  The apartments are beautiful and modern, with built in appliances such as washing machine and large fridge freezer.  The floors are a laminate grey colour and the walls are white, which gives the apartments a modern feel and in my experience renting properties in this development, they rent very well!  All of the properties come with an allocated parking space, which is highly sought after in the town centre.

The apartment in question for my blog today is actually a studio apartment on the top floor of the development and the views are really quite something!  You can see out over the Pennines and honestly its a lovely view!  This apartment is on the market for £85,000 and even unfurnished (as it currently is) I believe it should rent for £495pcm which would give you a lovely yield of 7%.  The good thing is about this that on completion it would take approx. 1 month to market and have a tenant moved in, as apartments in the town centre of this calibre, with parking are so sought after.

So, what are you waiting for?  Give Urban Bubble a call and get a viewing booked (link to the property on rightmove below) and then call me on 0161 474 8668 and I will meet you there and tell you all you need to know about Lettings in Stockport.

I shall look forward to working with you!

Gemma Lowe, Lettings Manager

Continue Reading

humble brag alert – a stunning apartment let in 6 hours and i want to share the journey of this property with you…

Hello Readers,

First of all, apologies, the post you are about to read is most certainly a brag, but I would like to add it is a humble one!  Lettings with Julian Wadden in Stockport is going crazy, we are super busy!  We are letting everything that we get instructed on and in record time scales.  So, let me tell you about this particular property…

I first spoke with the owner about 8/9 months ago when he was investing in the area and since then I have kept in touch with him with weekly sometimes monthly contact to assist him with ideas and to impart my local market knowledge.  I would like to add at this point this is not me harassing the poor gentleman concerned on a weekly/monthly basis in true, pestering estate agent style, no, no; this was much more of a partnership with me being on hand to give advice when required and most importantly when asked!  I loved that this investor was happy to listen to my ideas and to allow me to give him my honest opinion regularly to develop this property into 8 stunning apartments.   What colour flooring would tenants like Gemma?  Grey… so the apartments all have beautiful grey flooring.  Gemma, do you recommend carpets or wooden floors and what is practical, so a discussion ensues giving all the positives and negatives of each.  What is important to tenants Gemma?  Washing Machines and Fridge/Freezers!  So all of the apartments have washing machines/dryers and fridge/freezers and additionally microwaves.  I am passionate about my job and assisting Landlords/Investors and Tenants alike and so I was absolutely delighted that this Investor was so hands on and so happy to hear my thoughts.  I have loved every minute of working with him.

So, imagine how excited I was when I was invited to appraise the apartments and see all the incredible work that had been put into to transforming the building.  I wanted to do the best job I could, take the best photographs and find the best tenants.  Therefore, on Saturday I did an off the market viewing at the property and on Monday morning, once instructed I made the first 2 finished properties available.  We let the first one on Monday afternoon, so in less than 6 hours of the property being on the market.  We let the property to a professional, single female working locally in a very good job, paying the asking price and moving in at the soonest opportunity.  Everyone is overjoyed – the Tenant, Landlord and even myself.

I truly love my job and finding homes for local people, but also finding Landlords exemplary tenants at the best prices and in the best timescales.

If you want to get involved and receive this level of service, please do not hesitate to contact me, as I would love to work with you too!

Gemma Lowe, Lettings Manager, Stockport Exchange (0161 474 8668 or stockportlettings@julianwadden.co.uk)

Continue Reading

An 8.9% yield on this great little £80,000 investment in Edgeley, SK3…

Hello Readers,

Today I am bringing you one of the best yields I have found in a long time!  The property is currently being sold with a sitting tenant – this is good and bad.  Good, as it means no void period and the property will be rented from the moment you purchase it, but bad as there is potential that they have been there a long time and are not paying the right market value for the property.

If I were purchasing this property I would be happy to keep the tenants and then perhaps at the next rental period would look at refurbishing the property, as it does look as though it needs a little TLC.  I think for a property like this, in a block like this in Edgeley Town Centre you would be able to achieve £575-£600pcm for this two bedroom apartment.  I realise that this sounds very cheap, but the block that this property in will affect the overall rental value that you will be able to achieve.  The property is currently on the market at £80,000 and renting it at £575 to £600pcm would give you an incredible yield of 8.63 – 8.92% which is amazing!  If you did work on the property this yield would be affected slightly, but in terms of capital growth there is a lot of potential.

If you would like more information on this property, or if you are thinking of investing in the Stockport area, please do not hesitate to contact me on 0161 474 8668 or email stockportlettings@julianwadden.co.uk.

Happy Investing!

Gemma Lowe

Continue Reading

buy-to-let deal of the week on Europa Way, Stockport, SK3…

Hello Readers,

Last week I brought you a property which needed a little bit of work, so this week I thought I would bring you something spic and span and ready to let!  So, how about this lovely three bedroom, semi-detached house in Cheadle Heath which is a very lovely part of Stockport.

The property boasts a large kitchen, dining room with a separate lounge and a downstairs WC.  On the first floor are three good sized bedrooms a separate family bathroom and the master suite has a lovely en-suite bathroom.  The property is on the market to purchase with Bridgfords for £200,000 and as I mentioned, needs no work at all as it is lovely and modern and would very much appeal to families or couples looking for a contemporary property.

I believe that the property would rent for around £900pcm which would give you a good yield of 5.4%.

If you would like more information on this property or if you are looking for a buy-to-let investment then please do not hesitate to contact me on 0161 474 8668 or on stockportlettings@julianwadden.co.uk.

Continue Reading

Fancy an 8.29% yield and a little project… then this fantastic property in Stream Terrace, SK1 is perfect for you!

Hello Readers!

I am always on the look out for great investment opportunities for you and this week I have found another property that I think would (after a little work) give you a very good return/yield.

The property is on Stream Terrace, SK1 in central Stockport and has 2 good sized double bedrooms on the first floor and a large reception room, with separate kitchen on the ground floor.  The property is quite tired in terms of its decor, so it does need some investment to refurbish it to a rental standard.  This would include modernisation of the kitchen, bathroom, flooring throughout and neutral paintwork.  I would imagine that this would cost around £15,000 to complete, which may sound like a lot of money, but when you find out that the property is on the market at £90,000 it suddenly doesn’t look to bad!  For £105,000 you could have a lovely 2 double bedroom semi-detached house in a lovely residential area!  The property would rent for around £695-£725pcm if modernised to a high standard which would give you a yield of 8.29% – amazing!

This wonderful opportunity is on the market with Reeds Rains, Offerton and the link is below if you would like to have a look at this property.  If you are looking to purchase an investment property in the area and would like more information about the Lettings potential please do not hesitate to get in contact with me on 0161 474 8668 or email stockportlettings@julianwadden.co.uk.

Continue Reading

A lot of work, but an incredible investment for the ‘w’right investor… introducing lesley wright house, sk3

Hi Readers,

I hope you got the very much intended pun above?  ‘W’right investor, Wright House?  Sorry, but I had to do it.

Anyway my latest scour of the property market for my lovely investors has brought this treasure to my attention – Lesley Wright House, Cheadle Heath, SK3.

It is a huge development and is currently a cluster house with 11 bedrooms within it and 6 bathrooms, over three floors and it most definitely requires a full refurbishment throughout.  This is obviously a huge project and I would estimate a cost of between £10-£20k per apartment created.  The sq footage of the building is 3648 which means you could probably get 7-8 one bedroom apartments out of it.  So the cost of the reburbishment would be approx. £150k.

With this in mind and the guide price of £430k it would mean a total outlay of £580k.  If each of the one bedroom apartments created was then rented for £575pcm as a minimum and there were 8 apartments that would give you a monthly income of £4,600 meaning your overall yield is 9.5%.  AMAZING!

The property is currently on the market with 2 agents, Edward Mellors and Harvey Scott, and I have posted the links to these Estate Agents below.

If you would like more information on this property or if you have any specific queries about Lettings, Investments or even if you have a property you would like advice on renting out then please do not hesitate to contact me on 0161 474 8668.

Continue Reading