Hi all.
First post. Excitement. Yay.
I am a carpenter and I want to start doing some basic renos. I will probably try to sell quickly for the first few to build up capital. I will also probly be looking at lower end properties to start with.
My question(s)are:
What sort of market conditions should I look for when researching an area to buy in?
Do rental vacancies have much relevance to a buy-reno-sell strategy?
Does this strategy still work in a flat market?
Is it OK to use this strategy with low end properties, or shoul I focus on median houses to have greater chance of selling?
Also, any tips on what sort of renos add more percieved than actual value would be great.Many thanks in advance
dougiejgOriginally posted by Dougiejg:Hi all.
First post. Excitement. Yay.
I am a carpenter and I want to start doing some basic renos. I will probably try to sell quickly for the first few to build up capital. I will also probly be looking at lower end properties to start with.
My question(s)are:
What sort of market conditions should I look for when researching an area to buy in?
Do rental vacancies have much relevance to a buy-reno-sell strategy?
Does this strategy still work in a flat market?
Is it OK to use this strategy with low end properties, or shoul I focus on median houses to have greater chance of selling?
Also, any tips on what sort of renos add more percieved than actual value would be great.Many thanks in advance
dougiejgHi dougie, I saw your post at renos.com but was too lazy to post. Seeing it again here shows you are genuine in looking for help.
My idea is to look for the grubbiest house but in a good area with good bones but which needs a good lawn care, sugar soap scrub, maybe some paint and floor coverings, a new toilet and fix all the little loose railings, sticky window catches etc.
They are generally suited to investors or first home buyers. The state of the place leaves the home buyers run away so that leaves you to buy and reno and profit.
Cheers Brenda.[biggrin]If you want to get out of a hole, first stop digging.
Thanks for your thoughts Brenda.
Another question: I have read both of Steve’s books and would like to buy some more of his resources but am unsure what would be most valuable to get first.
Does one of his resources have example templates on the type of due diligence to do when choosing an area to invest in? For different strategies?
Cheers
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