Hi
I currently have my property up for sale in Wollongong, we are wanting to exit our mortgage and use equity to further invest, I have an issue I need advice from you on. I also believe I have a solution that maybe you could advise on.
ISSUE
Property has been on market for 2 months no offers as yet, being a great admirer of steve I am listening to the market in terms of price however the issue seems to be the property needs a little cosmetic work and has no garage/carport I have offered a $10k cash back and willing to be neg on price to view property go to http://www.masterproperties.com.au and look for Farmborough Heights Family Resort.
I Have a couple of solutions:
1) rent property out at market price of $280-$300 per week
2) wrap property to potential client i understand must be win win out come, property and client must match, transperancy in terms.
3) Lease options where tenant has option to buy at the end of term but not obliged.
my first preference is sell (I believe the team at master properties are doing a great job on this) however wrapping could be a light at the end of the tunnel.
I would be willing to discuss further by phone just call me 0402054030 or appreciate your comments
Steve Fazakerley
Steve,
Cool looking house.
From the pics it would appear the the garage was converted in to the flat!
I would convert the flat back to a garage if possible and give the place a good lick of paint. This should be less than $10K, and
for a modern look what about rendering the front?Other option: do the garage and lick of paint and possibly render, then rent out for a bit more $, revalue, refinance, then find another.
Consider the sell costs, CGT, refinancing costs, purchase costs etc.
hrm
You must be logged in to reply to this topic. If you don't have an account, you can register here.
