Have just started my first reno and wonder if anyone can advise me if it is a good idea to just do reno’s or should I combine reno’s with rental properties. Have not had much luck with rental’s in the past
regards to all
eliteviewsD.E.Harding
Would you consider yourself efficient at renos, if not start with an easier approach to investing (if thats what you doing). Target your success by being confident you can close out the deal to your advantage.
mark wyld
Hey,
Do whatever makes you money. If you are successfull at renos (proberbly helps if you enjoy it), spend your time at that. If you are not making money, or get bored, branch out.
Dan.
The most important thing is to make the most important thing, the most important thing.
Anon.
Hi Mark and Dan
Yes, I’m ok with reno’s, I know a few things, I have spent the last 4 years owner building a 480 sq mt house Queenlander style and clearing and fencing the 25 acres around it. Total investment around $5ook and now valued at $1.255.000. That is why I would like to do reno’s but wondered if I should have some rentals as well
Regards
David
eliteviewsD.E.Harding
David,
Will you have enough income from your reno’s to see you through retirement? If so, then do your reno’s and get the income together to live off. If not, then perhpas have osme rentals to provide inocme for retirement.
PK
Hi Purplekiss,
Thats what I was thinking, As you get older you don’t want to be doing reno’s, maybe it’s just a matter of finding a good Property Manager to control the rentals. Thanks for your reply.
Regards
David
eliteviewsD.E.Harding
Hi David,
Why do you need to find a good PM? Find a good tenant and manage them your self.Cheers Walter
Hi Walter
Thanks for your reply, I guess the hard part is working out the max rent one can get for the IP.
If you charge a bit more than the market value do
you get a better tenant
Regards
DavidD.E.Harding
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