How to Find a Great Walsall Buy To Let Property!

How to Find a Great Walsall Buy To Let Property!
How to Find a Great Walsall Buy To Let Property!

One of the best things I love about my job as an agent is helping Walsall landlords with their strategic portfolio management.  Gone are the days of making money by buying any old Walsall property to rent out or sell on.  These days, property investment is both an art and science.  The art is your gut reaction to a property, but with the power of the internet and the way the Walsall property market has gone in the last 10-15 years, science must also play its part on a property’s future viability for investment.

As a property professional I use many metrics (as do others), when deciding the viability of a rental property i.e. the price, the average rent, the yield and one you may not be too familiar with is – an average value per square foot.

However, another metric I like to use is the average rent per square foot.  The reason being is that it’s a great way to judge a property from the point of view of the tenant … what space they get for their money.  Now of course, location plays a huge influencing factor when it comes to rents (and hence rent per square foot).  Like people buying a property, tenants also have that balancing act between better/worse location, more vs. less money and size of accommodation (bigger and more rooms equalling more money) and where they live (location) verses making ends meet.

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Today’s Buy To Let Deal – 3 Bedroom End Terrace House, Holford Avenue, Walsall, WS2, Yields 5.77%

A three bedroom end terraced house, Holford Avenue, Bescot, Walsall, WS2. This property is presented very nicely and with a very acceptable spec. It can be let as it currently stands though I would take a closer look at the rear garden, it could do with some sprucing up. The property type and high standard of spec makes it ideal for working professionals.This is further strengthened by its location about half a mile from M6 junction 9, ideal for commuting. For the frustrated footballer in all of us, Bescot stadium is but a short 10 minute stroll away. The return journey could be a little longer if the Saddlers lose that Saturday. For your weekly shopping supplies look no further than the large Morrisons superstore just around the corner. It has a petrol forecourt as well…Handy!

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Today’s Buy To Let Deal is Definitely a Must See and Here’s Why!

Right ladies and gents, we are back in Dalkeith street, Birchills, Walsall again. Why, you ask? Well, I’m going to tell you. Firstly, and you may find this hard to believe, but Dalkeith street is blowing up right now, the level of interest from renters is insane. You may remember I mentioned in my last BTL deal post that I helped one of my clients rent out a two bed terraced just like this one recently! The second reason is as follows…I’ve repeated myself over and over again about renters’ expectations and what landlords actually provide. If you are serious about your property empire and want to maximise your portfolio as much as possible, what I am about to show you is the standard you should set yourself on every property you rent out. This is a bog standard two bed terraced house in the heart of Walsall, nothing at all special. However, by just investing a relatively small amount of money to showcase your let, this is what you can and should be achieving. I’m going to let the photos speak for themselves.

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Today’s Buy To Let Deal yields 5.50% is a 2 Bed Terraced house with Loft Conversion, Walsall, WS4.

A 2 bedroom terraced house in the Rushall area of Walsall, WS4, currently marketed by Purple Bricks (0121 721 9601). Plenty of photos here showing the property off at its best. The decor is all neutral and does not need anything doing to it from what I can see.

Without an internal viewing it is impossible to assess if anything needs to be done as regards upgrades, but as it stands it looks good to go. You could expect a rental of £550.00 pcm.   Therefore, if the property sells at the current asking price will result in a yield of 5.50%.

If you would like an instant online appraisal as to the rental value of your property, please click here.

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How much are Walsall Buy-to-Let Yields a year?

How much are Walsall Buy-to-Let Yields a year?
How much are Walsall Buy-to-Let Yields a year?

Purchasing your first Walsall buy to let (BTL) property is not the same as buying one to live in.  You have to employ a completely different set of tactics, methodology and mind-set.

The main difference is when purchasing your own property, you may well pay a little more to get the home you and your family want, and are less likely to compromise.  When buying for your own use, it is only human nature you will want the best, so that quite often it is at the top end of your budget; because as my parents always used to tell me – you get what you pay for in this world!

Yet with a Walsall buy to let property, if your goal is a higher rental return – a higher price doesn’t always equate to higher monthly returns – in fact quite the opposite.  Reasonably priced Walsall properties can bring in higher monthly returns.  Most landlords use the phrase ‘yield’ instead of monthly return.  To calculate the yield on a buy to let property one basically takes the monthly rent, multiplies it by 12 to get the annual rent and then divides it by the value of the property.

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Walsall Town Centre, Tameway Plaza – ‘No Mortgage’ Investment Opportunity

Tameway Plaza - Walsall Town Centre
Tameway Plaza – Walsall Town Centre

If you follow the Walsall Property Market News like I do (not just the residential) then, you will be well versed with past, present and planned future developments.  Amongst the proposed £90m transformation of the town centre recently it has been announced that more than 100 jobs will be created by developing a piece of derelict land back into commercial use with a further £6.9m investment.

In recent years we have had the new 24hr Tesco, the Primark development (which was extremely busy on Saturday), The Quarter has just been finished with Poundland and B&M taking up occupation anytime now and there are plans to revamp The Saddlers Centre!  So, with all this happening around the commercial side of property “what about residential” I hear you ask…?

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Today’s Buy To Let Deal Of The Day, 3 Bed Town House, Walsall, WS2. With Yields Of 5.77%.

A three bedroom end town house, Norfolk New Road, Reedswood, Walsall, WS2. It has an excellent spec with all the mod cons one would come to expect from a newbuild property; Modern kitchen and bathroom with double glazing and gas central heating.

It is ideally positioned in the Reedswood area of Walsall, close to the Reedswood Way Retail park. There are a large selection of schools locally and many are within a mile distance including the Reedswood E-Act Academy and Castle Business and Enterprise College. Healthcare amenities eg doctors, dentists etc are also nearby. Transport services are very good with bus routes and major road networks adjacent lending easy access to Walsall, Bloxwich and Willenhall. Junction 10 of the M6 is literally about a mile down the road.

The current asking price are for offers over £130k and based on my appraised rent pcm of £625.00 will return a yield of 5.77%. Now let’s talk about the selling price. In my opinion it is overpriced as other similar proprieties on the same road, not just the estate, have been selling for 120k.

Currently on offer with Prestige Estates (01902 596006) the full property details are here.

If you would like an instant online appraisal as to the rental value of your property, please click here.

If you are thinking of getting into the property rental market and don’t know where to start, speak to us for impartial advice and guidance to get the best return on your investment.
For more information about other potential investment properties that we could introduce you to, or to ask about our thoughts on your own investment choices, call us now on 01922 311016, you can always email me on salekm@ashmorelettings.co.uk.
Don’t forget to visit the links below to view back dated deals and Walsall Property News
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