Morning everyone. I was in Leeds yesterday giving some training on 'landlord farming' to a group of eight letting agents - it was flipping hot in that training room! Got back home around 7pm to find the Joey in a grumpy mood .. he doesn't like the heat either... it must be his Irish blood! Anyway, I hope this finds you well. Following the lovely feedback from last Wednesday's article, here is another story example. This is a softer story (called a 'One Show' story as opposed to a 'Clarkson' story). Like last time, the full article then it is repeated with a breakdown of what to do.
Is Buxton Avenue Coventry’s
sleeping giant?
A landlord recently
missed his chance to buy a three bed semi-detached property on Buxton Avenue,
near the fire station and Ryton Road, as it sold in a matter of days. He asked
me if there something special about the area, so I did a little research.
I have included Buxton
Avenue, Bakewell Crescent and Briggs Lane in my findings for the Buxton Avenue
area. Buxton Avenue is the first part, near the shops, which was built in the
1950s by Builders Hunts. The remaining part was built by Fosters of Coventry in
the 1950s and 1960s, followed by York Homes building some modern properties at
the top of the cul-de-sacs.
A number of two
bedroom bungalows have sold in the area for around £100,000 in the last two
years. To prepare the property as a rental investment could take around £10,000
and this could achieve rents of around £550 per month, which would provide a
reasonable annual yield of around 6%. The three bedroom semi-detached
properties in the Buxton Avenue area which were selling for a maximum of
£120,000 last year, are now selling for £135,000 or even £150,000. The older
houses offer the tenant and buyer larger rooms, which can be more appealing.
As the achievable
rents could be between £525 and £575 per month, the possible annual yield is
slightly lower than a bungalow. Don’t be discouraged, however, as the houses
have seen great increases in value and are popular with buyers and tenants. So,
if you would like to talk to us about property in our area please feel free to
visit our office on Letsbeeee Avenue
Is Buxton Avenue Coventry’s
sleeping giant? (as its a boring street, the tile grabs people's
attention .. as always, mention the street)
A landlord recently
missed his chance to buy a three bed semi-detached property on Buxton Avenue,
near the fire station and Ryton Road,(nice to add in a little
local sprinkles) as it sold in a matter of days. He asked me if
there something special about the area, so I did a little research.
I have included Buxton
Avenue, Bakewell Crescent and Briggs Lane in my findings for the Buxton Avenue
area.(brings in the whole estate) Buxton
Avenue is the first part, near the shops, which was built in the 1950s by
Builders Hunts. The remaining part was built by Fosters of Coventry
in the 1950s and 1960s, followed by York Homes building some modern properties
at the top of the cul-de-sacs.
A number of two
bedroom bungalows have sold in the area for around £100,000 (Rightmove
punter site > House prices > type in Street then 0.25miles radius and see
what comes up) in the last two years. To prepare the property as a
rental investment could take around £10,000 and this could achieve rents of
around £550 per month (local knowledge) , which would
provide a reasonable annual yield of around 6%. The three bedroom semi-detached
properties in the Buxton Avenue area which were selling for a maximum of
£120,000 last year, are now selling for £135,000 or even £150,000. (Rightmove
punter site > House prices > type in Street then 0.25miles radius and see
what comes up) The older houses offer the tenant and buyer larger
rooms, which can be more appealing.
As the achievable rents could be
between £525 and £575 per month (local knowledge), the possible annual yield is slightly lower than
a bungalow. Don’t be discouraged, however, as the houses have seen great
increases in value and are popular with buyers and tenants. So, if you would
like to talk to us about property in our area please feel free to visit our
office on Letsbeeee Avenue