Looking to buy and renovate a property to make it cash flow neutral(ideally positive but I am realistic)- want to get back in the Sydney market as prices seems to be less volatile than other areas. Wanting to purchase 4 within the next two years so I am in a good position to sell and pay down other properties.
Actually had also considered the Gong, Knightm – don’t mind Figtree, Mt Keira etc.
All the good ones seem to go so quickly and for way out of my price range unfortunately.

I'll try to pop in tomorrow. Catalyst – how much do you normally buget for your kitchens? You sound like you have done this once or twice

Hi DWolfe,

Big fan of yours! Yes, I would definitely do more investigating ie. pest/building/thermal imaging etc however just wanted to get an idea if it was even worth going that far with what I know from the agent.

I agree that it may just take replacing the floorboards with particle board and carpet over the top – that to me doesn't sound like a major job though?

Thanks!

Hi Andrew, 

It is just a property I am looking at purchasing. It is qlder style and the the agent had disclosed the white ant damage however is of the understanding that there are none currently active. Another purchaser had apparently gone through and had seen only damage to the floorboards and not the bearers and joists(?). 

Just after a general idea if it is just the floorboards that need replacing to see if it worth looking further into it. 

Thanks for all the replies,

babyflynn

Wow – when they say to have a good team of professionals when investing, they are not kidding!!

The whole thing has been horrendous – the broker has advised that they spoke with the valuer and would not change their valuation and settlement has been delayed by 3 days because the broker and the bank had a total lack of communication. They are putting the settlement monies into the redraw facility of the remaining property instead of my bank account because they were ''too late''.

Very, very cranky! 

On the upside, I have learned so many lessons that I will not repeat in the future so I still feel the stress has been worth it.

Great advice! My broker said that he had only seen a valuation being challenged and won only once in 6-7 years so I was a bit disheartened but I requested that he continue with it anyway as it is so much out of pocket for me! If they decide not to play ball, I'll move banks as soon as I am able to.

Maybe that is worth mentioning to my bank at the same time…

I have not done any reno's to the property as it is only a few years old, however median house prices have gone up significantly in the suburb as well as the rent on the property too so that is also ammo.

Will build my case tomorrow!