A few weeks back I went to visit the town of Tumut NSW, to see a property that was offered to me.
It is an ex church camp facility that consist of three brick veneer buildings, two are 180m2 and one 80m2, listed for 385,000.
The two bigger ones have two units each total four units and the smaller building is an open meeting room with wide verandas all around.
It sits on 17 acres 5k from town and has very nice views.
I did not purchase it because I had some reservations as to who would rent units out of town when there are house vacancies in town, even when not too many. The town has three mills and plenty of work and in fact had a bit of a boom happening 2 years ago with one of the mills expanding, something that is rumoured to happen again, end of this year.In my view this three buildings need to be transformed in three houses and this when simple means extensive building work. This is my view, and I may be wrong and it may be perfectly viable as it is.
On the price front, I know there is (and need to be) ample room for negotiation, and the organisation that sells needs to sell it to support another camp that is in dear need of funds.
Overall, the work necessary (according to my assessment) outstrips the advantages, but that is so because I am not into renovations, neither am I local.
So perhaps some of you that are closer to that town, and want to have a look, can ring the local RE agent in TUMUT Lee Rootsey, on 02 6947 2987. Do not deal with “the other guy”, Lee is the owner and the other is a bit of a pain.
May God bless you
and prosper you.
MarcHa ha guys [biggrin] 75 views and no answers?
Either was my assessment dead right or you must be all driving poor old Lee crazy! . . . you can ask me some quesitions too you know? … if I let a deal go I can help whoever is interested, no strings attached.[biggrin]May God bless you
and prosper you.
MarcHi Marc,
Just read your post.
Sounds okay, but not my “cuppa tea” as I try to sit to my own state….no offense anyone; I HAVE NOTHING AGAINST ANY OTHER STATE…I just like to keep my IPs in my own backyard that’s all.
Hope you get more replies….
Cheers,Jo
Which State?
May God bless you
and prosper you.
MarcVICTORIA
Is that your photo with your name under it?
May God bless you
and prosper you.
MarcNo….I’m a brunette!!!!
LOL
(I wish….)Thanks Marc
Jo
Ha ha only kidding.
Tell me Victoria, What’s with the thread about that poor gale trying to seel her sister’s property in Orange? I know Orange and that property is underpriced, plus they say they are willing to negotiate, so it may go for 145 or even 140, that is a good deal whitout having had a look at it. Why such virulence? i read Steve’s book and when I am gratefull for a lot of good advice, I realise also that such book started the demise of +CF properties in regional Australia something I have been involved in since 1996 and that now with an ever increasing number of investors is becoming a thing of the past.Of course such interest meant capital gain in areas that dont know the meaning of such word, yet to profit from such windfall you must be in it, and the more books are sold the less +CF there will be in the market. So to pontificate in 2004 that you either get Price /1000 x 2 = rent or bust, is ludicrous to say the least. Etrepreneurs must be artist , inventors, not crowd followers.
If I have an exclusive market idea or particular strategy, I will write a book about it the day I want to change strategy or industry all togeather.May God bless you
and prosper you.
MarcOriginally posted by Marc1:Tell me Victoria, What’s with the thread about that poor gale trying to seel her sister’s property in Orange? I know Orange and that property is underpriced, plus they say they are willing to negotiate, so it may go for 145 or even 140, that is a good deal whitout having had a look at it.
Marc – how well do you know Orange? There are some areas that I would not touch. The area around the showground for example is full of HC and there is plenty of crime too.
If this house is in that area, I would say that it is not necessarily underpriced. There are also other areas of Orange that are less than desirable too.
‘Eat rich food, barbeque a yuppie’ [greedy]
Hi Marc,
My name isn’t Victoria; it’s the state I live in…LOL Anyway, I understand what you’re saying, and I look forward to a copy of your book one day.
Rugbyfan,
Orange does have good and bad spots, and there are heaps of HC areas which are slowly being sold off to private investors. Maybe the lass trying to sell her sister’s property need to be more specific about which part of Orange.
Anyway, keep smiling,
Jo
You are probably right my friend, but I notice you say IF. You don’t realy know where it is?
My point is made more on the intransigence of some statement and not necessarily on how good or not this deal is.
May God bless you
and prosper you.
MarcOriginally posted by Marc1:You are probably right my friend, but I notice you say IF. You don’t realy know where it is?
My point is made more on the intransigence of some statement and not necessarily on how good or not this deal is.
OK so I was a rugby forward….hence WTF do you mean by that?
‘Eat rich food, barbeque a yuppie’ [greedy]
ha ha sorry for using strange words, that comes from English being my 4th language.
Intransigent = Refusing to moderate a position, especially an extreme position; uncompromising.
I noticed some irate responses arguing the property is not +CF, as if the formula price/1000×2=rent, is some sort of unbreakable code.
I argue that there are a lot of properties out there that fit that rule but are a really poor choice, and others that are marginally positive or break even, yet are a much safer bet.
Don’t you ever be intransigent!
hoho
Nice talking to you
PS
And don’t you ever post yellow smilies or someone gets highly irritated!![baaa][baaa][baaa]May God bless you
and prosper you.
MarcNow now Victoria, unless you tell me your real name that is it as far as I am concerned.
Book? You want a book? Well why dont you ask for it? Send me your e-mail via PM so as to avoid a barrage of unwanted admirers mail and I will send you the book “free” . . .(see I am not greedy)[biggrin]May God bless you
and prosper you.
MarcThanks for the explanation Marc[biggrin] (hah hah had to do it!)
BTW, her name is Jo. How did I get that extremely private bit of info?………. that’s how she signs her posts off!
‘Eat rich food, barbeque a yuppie’ [greedy]
Oh my you are right
May God bless you
and prosper you.
Marc
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