Forum Replies Created
HI Qld007,
It would be ideal to do wrapping on it, and I have considered it before. But with the nature of the units themselves, it seems to be a magnet for a certain market. The current tenants are not interested in purchasing them.
I think I have to learn new skills and consider renovating them…..time for me to get my hands dirty. In the mean time I will market it while doing the internals of the property. Lets see what happens.
Lalonga
Hi Richard,
The whole block is already strata titled. Unit 4 & 5 sold first at $118K each in April this year. Unit 3 was sold afterwards for $110K. I bought 1,2,6 for even less.
My unimproved personal valuation in between $115K to $118K each (and hopefully get it close to that price), bearing in mind that that is my own personal expectation. The units need some sprucing up in order to increase it’s rental potential. At its current state it is a solid earner at $140/w. I wanted to increase it but I realised that I need to update the units abit to make it abit more appealing on the $160/w market. And that is where I caught abit of a snag because I know close to nothing about contruction work (I could’nt even trust my self to repaint it).
Wanting to move on to other projects, I have to consider what buyers are willing to pay. As long as it sells privately, the more likely that it will have a lower price. If I list it to an agent…. I would have to take into account the cost of selling. But to be honest I would like to keep the third party involvement limited to the banks and solicitors only. This might help me move it alot faster if I deal directly with the buyer.
I you have better ideas than my plan please let me know. I would appriciate any help that I could get.
Regards
LalongaMorgage Hunter,
Thanks for the advice…..I will just have to learn a few things as i go along. I will also try to put it in the market at the same time so that I can get a general idea of whats needed to be fixed/improved from the point of view of the buyers/investors.
There is plenty………for those who wants to create it.
[biggrin]Hello again Ravtown,
As I metioned in my previous PM, feel free to contact me on [email protected] or add me to youre favorite list on MSN so we can chat (if you have hotmail chat).
cheers[biggrin]
JohnThank you for the reply guys.
