Hi, I am new to this forum and also property investment – I am embarking on a search for property requiring renovation in order to manage as vacation apartments, can anyone offer any good websites for suitable properties, locations and also renovation cost breakdowns.
Of course the overall investment capital shall be subjective of location, but any hints on unknown attractive hideaways would also be most welcome.
I would also like to add, I am happy to find such a good, productive and informative forum with great input from obviously experienced investors with intelligent ideas !
I look forward to your comments.
1. Try your standard sites to start with, realestate and domain.
2. Try a bookstore for reno flavoured books, then build your knowledge from there.
3. Locations and unknown hideaways, look for holiday spots that seem cheap in comparison to similar spots and do your research.
You might want to start close to home and on a small scale first off. There’s more people looking for what you want than the holy grail. However, someones got to find it, and it might be you!
Good Luck…G7
You can get construction cost reports from http://www.reedconstructiondate.com.au
I don’t want to plug them, but I have seen their reports in the past and they are comprehensive, and possibly not cheap.
For real costs though, contact some builders and see what their rates are. Always get at least 3 quotes with references.
Tip: Holiday property can be expensive, so you need to search but more importantly, you need to NETWORK with agents in the areas you are searching. Often holiday property can be snapped up well before any advertising has been thought of.
And construction costs and rates are generally the same for holiday areas as city areas. And materials can cost more as they need to be transported to your location.
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