Hi
I am considering investing in the buy to let market in Burnley (2 bed terraced) and initial findings look good. I visited Burnley last week and was very impressed with the town centre and its forward looking council.

Can any members with experience of the area offer any advice or guidance?

Thanks in anticipation,


Martin

Hi Martin,

If you've not already seen it, you may find the Property Secrets e-book "The UK's 12 Hottest Property Hotspots" of use - I think the content is from last year, but there are four pages on Burnley which was highlighted as one of the twelve.

You can download it here - http: / /www .propertysecrets .net /downloads /795 .html - it should be free of charge to PRO members.

Cheers,

- Chris.

Burnely is certainly a more affordable area of the UK. Try also looking at Darwin, Accrington, Haslingden and Todmorden. Housing there tends to be built of stone rather than red brick and some of the villages are very pleasant. I am no expert on this area regarding investment but I worked in this area a while ago and liked it so much I considered buying property there myself.

They are all within driving distance of Manchester and of course, a whole lot cheaper.

Regards,

Martin

I have 8 properties in Burnley , 5 in Accrington and 2 in Nelson .

Quite happy --- prices are low and I can usually generate between 11.5 and 9 % gross

I am also very very lucky because I have a man down there who finds , refurbishes , let them and collects rents for me and I go down once a fortnight to collect

I am in the process of expanding my portfolio and the lettings side and am always looking for partners when I can`t buy all of the opportunities that I am offered

There is one at the moment which we considered buying --- it`s 3 houses which have been knocked through to make 1 house --- 2 of them need boilers , the middle one needs a staircase and the inner doors between the houses need filling in -- then a bit of cosmetic work

estimated spend with my man doing the work -- approx £ 12,000 ( to include a wall and gate in the yard to seperate the houses -- negotiable --- if I push him very hard he may be able to come in under this figure especially now that there isn`t too much work out there at the moment due to the credit crunch

I can get these three houses for £ 110,000.00 --- so if you work out the figures -- rents £ 80 per week it gives approx plus 10 % yield -- again I might be able to get this price down a bit

Not buying myself because I am in the process of buying 3 other units and I have to miss out on these

you should be able to find me on Facebook