Thanks everyone!Whoops…I think I started something here……Originally I posted looking for some expert advice to use on bf about why this wouldn't be a good investment. Basically, I think property investing is a wonderful thing, but was against him spending how many weekends off working on a place that needed the work…..we have enough…[Read more]

Surely if this had potential – as a small scale or larger reno for future IP (or quick turn around) it would not have languished on the market for so long, nor had so many price reductions?If it was vaguely suitable, wouldn't a investor have snapped it up by now? Anyways – probably a moot point. Last communications we had with agent, owners were…[Read more]

Well it looks like I was right!!!! We didn't follow up on this 'renovator's delight' property and months on it still sits on the market. BF might never hear the end of this from me…that it was unlikely to have been the brilliant property deal he thought it was.I note that eventually the agent's updated the listing, mentioning that is has…[Read more]

Hey C2:Thanks…all great ideas…especially 'bout the cheaper tenant during the fix up.

C2 wrote:
Finally, be careful of what agents tell you in regards to what rents you can get.

In this case I was certain, as I am familiar with the small group of identical houses along that particular street and what they attract for their weekly rental….so…[Read more]

Thanks Adld:Some weeks on, we are still undecided…methinks property investment takes more decisive action than we are capable of…d'oh!Anyway, he still thinks all the numbers stack up well on that particular property and that it will soon be off the market, if it hasn't already been snapped up. We have resolved to move more quickly next…[Read more]

Thanks Adld:We are just getting ready to put our offer in for this property….looks like he's won this particular argument.So we'll see how it goes…if we become property investors…and then contact you for a chat?W

Thanks Duckster:I had better hide your comments from him….as you make it sound a more attractive proposition than I would have thought! Ugh!Certainly, the work is minor (so I am reliably informed!) so there is no chance of over-capitalisation. A bit of carpentry and tiling will deal with the bathroom/kitchen/laundry. The windows can be partially…[Read more]