If you have $150k you are better off buying a commercial office in St Kilda Melbourne with a 10% return all to yourself.
As to the childcare centre deal, how much of a return is that to you?

Except with Rotorua, I suggest buying sight and smell unseen !
Go you good thing.

Misty,
no I don’t check with the real estate, I expect all clients to tell the absolute truth !! and besides, I don’t think anyone would make up an appraisal????!!!.
We always ask because sometimes we have no flipping idea what it’s worth ![confused2]

Good area for capital growth not so good for +cf.

I had been applying the rules in Steves book for many years before he wrote it and trust me it still works today. The 11 second rule is what I swear by, there are plenty of properties out there. Get off your proverbials and go find them.

Plenty of 10% yields out here in OZ problem is, no one wants to share where they are because they don’t want you buying and creating more competition.
Ok I’ll give you one suburb to start. Mount Isa, QLD.
Now I’ve done it haven’t I?

We will always give a current market valuation as at the date of inspection but you can ask for a valuation at todays date with the hypothetical renovations already done. eg. Value the property as if it has already been renovated/extended at the date of inspection, therefore your value will be higher automatically without any works commenced of which you can borrow money off. As for a future value, we could project what the future holds but crystal balls are hard to come by lately (kidding).
I would get a valuation done now based on the above, don’t wait 6 months (the market may be very different although it depends where your property is).
If you are not borrowing money for the renovation, I would still do them now and then revalue. Be careful not to overcapitalise or you may lose money if the market is in a sharp downturn in your area.

Yes it can be addictive but at least we’re getting alot of exercise which is important. The eye balls are being exercised and so are the fingers. We’re a healthy bunch eh?

I’m buying at least 10 more +cf properties this year and next year I’m buying +cf in Ontario Canada (my husband is Canadian).
Good show on The Great Outdoors tonight 730pm in Sydney. All about buying properties overseas. Should be interesting.

*Bows to RussH* You are on the money ! Good to see some people here with brains. I think we go to the same McKnight school of success.[thumbsupanim]