Dear All,
I am a green property investor with 2 properties in my portfolio at present. What I have in my portfolio is 1 2 bedroom house, built in 1920 and had years of neglect and tasteless renovation done over the years. I have since completely renovated this house with complete garden landscaping and added an additional 2 bedrooms making it a 4 bedroom house. The other is a 2 bedroom flat in one of Sydney's prestigious suburbs that was a deceased estate. It hadn't been lived in for about 10 years when I got it and I have managed to do a complete renovation including bathroom, kitchen, painting and restoring the floorboards for under 15K. I am currently living in this now but will sell after 1 year to collect the capital gain.
As I enjoy doing cosmetic renovation and allot of hands on work I am enthusiastic to keep the momentum and find other properties to renovate. There are many of them out there but in my thinking it's best to keep to an area close to you, has growth potential as well as be an area you're familiar with.
After doing these 2 projects I am constantly looking at old, character apartments and houses from road view and visualise a make over and potential, from what I see there is so much opportunity around Sydney's eastern suburbs for older properties that need cosmetic and minor structural work.
While I am out in the evenings doing my routine rides and runs I note the properties I see that are either empty or in very neglected conditions and think if it's worth approaching the owners about selling. This would create so much more opportunity and eliminate the need to have to wait for properties to come onto the market.
Does anyone have any suggestions on how you would approach an owner about selling their property, or finding the details of owners of an empty or occupied estate?
I have also just exchanged contracts on the 4 bedroom home mentioned and will collect a 130% profit. So I have some finances to play with.
Thanks and I look forward to your feedback.
B.
Hello,
This topic has been discussed before. So its best you do a search. However items such as:
1. Drop a note in the letter box
2. Ask the neighbours
3. Maybe post a letter to the address and it may be re-directed…Enjoy searching, Im sure you will find a wealth of other information along the way.
why don't you just go to council and ask for the owners details, as you need to get in touch with them
Thanks guys. will look about the forum and try the above options suggested… I'll let you know how I get on… Billy
Dr.Spock wrote:why don't you just go to council and ask for the owners details, as you need to get in touch with themSome privacy issues here Spock – this is a breach of council's privacy code. Valuers can no longer get this information directly form council and must go to the LTO/information providers.
Hi
Log onto RPDATA and buy a report on the house you are interested in. Although at $60 a pop you will want to be sure that it is something you really want. The report gives you the owners details, sales info on the property, and sales within the immediate vincinity of the house.
You can get the name from Land titles office of your state, online, for a few dollars. But once you have the name, you still need to locate the owner, which is the hard part.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
You must be logged in to reply to this topic. If you don't have an account, you can register here.
