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This property here reminds me of my first deal Exactly the same $70k EQUITY profit easy.
Town has a Hospital - lots of Businesses, Nice Schools and Sporting Fields...
This property here reminds me of my first deal.
Cheap country house. Easy negotiate price.
I would try and .......
Do it up cheaply!
Nothing special just clean and repair with a cheap bathroom kitchen.
Rent it out positive geared.
Sub Divide Block.
The other side is actually a really great street, excellent neighbours.
Put a Removable house on the sub divided block and.....
then rent out both houses positive.
ok $70k - $100 revalue AND POSITIVE INCOME
For under $70k buy thats ok,
then subdivide and put the removable house stumped up
on the spare block and revalue while still leaving options.
Well first you have to get it off the market.
I reckon its worth $30 -$50 and reckon they would take that.
I have not enquired about it so you might have to try your self.
ITS PUBLIC TRUSTEE !!!
"If viewing on email click Blue text link above top of page to view missing via email then it takes you to the web"
FIRST THE PROPERTY
LOOK AT THE NEIGHBOUR
OK SO FIRST THE NEIGHBOURS
NOW CURRENT LISTINGS ON THE STREET
Ok so RPdata is saying this one is for sale since may no takers at 80k and it is dropping
|15 Jun 2012||current||$70,000|
so thats why I offer $30k for this one run down house and I can prove why?
NOW THE OTHER HOUSES FOR SALE - not on same street
NOW LOOK RENTALS CURRENT
NOW LETS LOOK AT POSITION AND BLOCK
NOW LETS LOOK AT HOUSE PRICES ON CHANNEL STREET
I am not saying this is the perfect deal.
YOU DO NEED TO ......
1. DO HEAPS MORE DUE DILIGENCE , rent demand, possible value, loan possibility etc.
ring council. Even if you cant sub divide you can dual occ and still get two incomes?
2. GO AND SEE IT - DONT BUY SITE UNSEEN
3. RING AGENT SAY I KNOW IT IS A SHITLOAD OF REPAIRS SO I want it for cheap.
If 36 on the same street is 60-70k
I want it for Half... Because I have to make it liveable.... then how bout I get you as the agent to
rent it with you
Next question is how much rent will WE get...If I do it up ....???
WIN WIN he sells a run down property ...only I am prepared to do it up and make another rental.
Remember I used www.investar.net.au and RPDATA to get this information.
See how good both tools are.....its all in the TOOLS....and teachings ...Thanks mentors...
Want RPDATA email me for great deal.
p.s again I have not rung up about this deal.....just showing you where I start from..