Hi Steve,
I am currently renovating a block of 6 apartments. Bought as a started project (outside only) but the previous owner ran out of time, I have since taken over and my team are doing a great job on the first two. Having purchased these as a 60, 90 & 120 delayed settlement on each set of 2, has given us the required time to renovate internally and either put back on the market (potential to make $100K per 2 Units), or hold and rent out (with the potential to make $200K per 2 Units in equity). If we hold, this allows us the leverage each & every deal the same way and have multiple projects underway. Or we sell every 2 apartments and take the profit (which inturn we loose 30% straight to the gov- In saying that I’ve just answered my own question!
Thanks for the opportunity as always.
Regards,
Helmut
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