Forum Replies Created
Hi Leila,
I have only done 2 renos, 1 I still hold, and rent, and another I sold. I do not consider myself an old hand at this by any means, so I won’t give you advice.
I must however say that I found Henry Kaye’s teaching about making apartments unique and boutique ie.a bit of wow factor, to be most helpful, and I would not have made the profits I did from my reno’s without that info.
I don’t know all of Henry’s dealings, and don’t know if he deserved the treatment he got, but I found his teaching on reno’s most helpful and profitable.
If you have the opportunity to get hold of any of his (now generally unavailable) materials on the subject they are well worth a look.
Cheers
Milty
Hi all
Have found some carspaces which appear to have CF+ve potential, the asking price is in my opinion about 15% below market, and there are 3 of them for sale in a line (all in individual strara titles). Have put in an offer at 20% below market, with a few ‘subject to’ clauses, will see how it goes.
Under a buy and hold strategy, Cash on Cash return is low, between 4 and 5 % pa based on 50% LVR (of purchase price) main reason for considering is I believe they will provide an immediate capital gain.
Am considering trying to wrap some or all of them individually at 5% below market to realise cap gain (on paper at least), and improve ConC return.
This would obviously require a deposit from any wrapee, and also be marginally (approx $10/week) more expensive for them as well, but would provide them with the security of a guarenteed car space, and immunity from rental rises, plus expose them to potential cap gain.
Anyone have any thoughts on this, or think of any pitfalls or problems I may encounter?
Cheers
Milty
Try some of Lance Spicers literature, I am a little wary of some of his ideas, but he certainly addresses offshore investing with enthusiasm, and goes into considerable detail.
You can check out his stuff at http://www.tridentpress.com.au
Cheers
Milty
