Hi all
as you know over the past 2 years i’ve been a fan of Gore in the South island, (and i’ve loved the 100% appreciation).
Today i was in Gore to sell my last property there and i heard an interesting story about a property in Howard St, a home across the road from mine. Howard St is an ok area but this property has some unique issues. This home was the residence of a crazy guy who was lighting fires in Gore 12 months ago. Then when he left a young girl who moved in ended up hanging herself in the Garage, a very sad story.
Why i’m telling you this is to warn you as people don’t want to rent this home or buy it, that is none of the Locals who know the history. I say this to warn about this home and as a general warning about investing and how important it can be to know the history of a home.
Gore is a great spot and anyone who buys well in Gore will be rewarded in the long term.
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
Hi Westan,
That is a sad story and a good point about checking out the local market. How long do you think a stigma like that could last before all is well again? We have a friend who picked up a mansion in a very high growth area for a very discounted price because it was “haunted”. This has now been renovated, made to look like a million dollars and rented to a prodiction company for a price that works out to be 10% returning in a market that has an average of 3% rental returns. Opportunities can be created everywhere, but like you mentioned, you must be aware of what you are buying.
Cheers
Xenia
We buy properties in all conditions. Can offer Immediate Cash Settlements, No Real Estate Agents Required
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phone 0412 437 582hi xenia
that’s an excellent point, these types of situations can create real opportunity (for the brave), but over time they will usually be rewarded.
just as a side issue, People in Victoria will remember when Jayden Lesky disappeared from a house in Moe. When this home came up for Auction i was expecting there to be little interest because of the History of the home. Even though the house is not well positioned it sold for that i thought was above market at the time. I couldn’t understand it ???
regards westan
Break into the foreclosure market in the USA or Cash Positive deals showing 15-25% Returns in the USA email me at [email protected] to join our database
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