Dolph DeRoos talks about buying properties with a twist. What sort of twists does he mean. Can anyone give me some decent examples?
thanx
silverfox
buy property without garage and put one on later.
buy a small church and convert it to rental property.
buy a corner house and convert it to small business
buy a warehouse and convert it to rental property
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just to name a fewKind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]Well I’ve never read his book, but I’ll fathom two guesses.
It could be properties that aren’t appealing to others for some reason. If you can work out why they aren’t appealing and then do something about it, then you could be onto a winner. Having said that, you’d need to make sure that whatever it is you need to do, is manageable and the cost reasonable.
Or he could mean properties that are different in some way and therefore make then special ie: we have a house in a low income area, the majority of the area are 3×1’s, yet most of the poeple in the area have at least 2 kids and therefore no spare room. The house we have had an extension that made it a 5×1, and although the price was only a couple thousand more to buy, it’s rentability is amazing. Every family that looked when we advertised to rent put in an application, now the house was appealing to them as it meant they could have a spare room, something they’d never had before. Basically it meant we had a choice of tenants and that’s a nice feeling!
Regards
PKGuys, pssst, you are giving all the secrets away. [wink]
Pisces
Basically what Chan$ said – another example would be a commercial store front with a large car park out the back, add some self storage lock up garages on the unused section of land.
Converting a wharehouse to student accomidation.
Etc,
Rgds.
Lucifer_auPurplekiss,
Just to add to your post, we recently bought a 4bedr in an area packed with 3bedr’s. The house was a shocker.While we were doing our standard inspection before settlement we ran into a nice couple outside who were dying to rent a 4 bedder as there were none on the books in the area. We ended up renting to them privatley for $25 pw more than the agent was willing to list it for. They even helped us clean the house and yard?.
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