Forum Replies Created
Hey Kerry,
Just wondering if you have the following for sale still, and how much they are; Buyer beware and renovating for buckets of cash?
Thanks, Scott.
Hi all. Thanks Jamie for that link to the spreadsheet, should help alot with crunching the numbers. On that, does anyone allow a certain amount for maintenace, and other ongoing costs, or is there a rough % that people allow?
Thanks.Thank-you Catalyst for your reply. Are the properties CF neutral before the reno’s or after? And, what do people mean by ‘crunching the numbers’? It makes a little sense but would like some clarification.Thanks
Hello everyone, thanks again to all your advice and suggestions. I have another question. I have been considering taking on the strategy of reno’s. Mainly due to the fact that I am in the trade industry myself, and have a few close friends who are too. Is it wise to think that I can buy a investment property that is in need of renovation, carry out the work within a set time frame and budget, then I can rent this out and charge a premium rent? (looking to obtain CF+ from the property) SO, I guess my question is, can you buy a property, renovate, then expect a positive cashflow?
Thanks in advance for your input.Hello everyone.
Thanks to all for the input, all your suggestions and advice have been taken on board. I hope to be making my decision in the near future so I can begin on the investment road.Thank-you Paul for suggesting another stratergy, I have heard of vendor finance but never really looked into it, I will check out those sites ASAP.
Another query I have is how to calculate a ‘profit and loss statement’, similar to that of a business I suppose. SO, what costs are involved with having a property, and if there is a format or a sheet out there that people use to easily calculate how much a property is costing you per annum, or how much it is making you.
Thanks everyone for the information and helpful hints, it is greatly appreciated.Thanks heaps guys for the reply’s, its good to get some hands on advice from other people playing the game. One last question I have, is there a rough set of guidelines for doing your due diligence? I know it includes doing your research on the area, owner occupiers vs. investments, people per household, infrastructure plans, but sure enough when doing research you will overlook something, possibly a big factor in returns, so is there a book or a site that recommends certain research and a list or the like?
Thanks again, your help is much appreciated.Thanks Derek for the reply, are there any sites or books you can suggest on reading to get an idea on the pros and cons of each? I have a few written down, however the more information the better I believe.
Thanks again.
