Hi Steve, David here
just pondering what my next move should be. I am not a huge property owner have managed to double my money twice though now on capital investment by restoring and selling in two seperate three year periods as owner renovator. My wife and i just purchase our next project and are very happy with the deal and price. Bought at Auction for the first time, the property was riddled with caveats as the sale was due to a seperation of Husbond and wife. I think the ugly section 32 scared a lot of potential buyers because of the 30 odd people that showed for the Auction only Us and 1 other were bidding. As we were both there for a bargin the bidding fell well short of the asking price and the vendor had to sell that day, hence we secured a great deal. I am wondeing now whether to extend the property from 3 to 4 bedroom and sell again as the property is nearly 1020 m2, or renovate as a 3 bedroom and sell, or rent it out. My situation is i have no loan on the property thanks to my profits on the first two sales, but also have an investment property with my brother that we were trying to sell, it is currently rented out and the sale was because things are getting to complicated, this property is actually becoming a money pit.
Any thoughts appreciated, a few topics there.
Cheers
Dave.