Hi guys
I'm hoping to get two more renos on market by December 'ish .
Both Vic rural towns but have done well and still seem to be selling – slowing but moving.
There's plenty of lee-way in my sell price but I will need to turn them over so as to put towards my new place early next year.Just supposing the US does totally implode in the meantime which is highly possible – sorry but I don't think we've seen anything yet , but will that be enough to stop our market dead in it's tracks then and there or will it all take 6 – 12 mths I'm wondering ?
Can't afford to get stuck with these baby's.
Abit worried that even a price dump won't sell the properties should things turn mean !
What do ya reckon ?Cheers
PS
The other option is quick paint up right now and onto market for Spring summer – could do so much more with them though and make much better money if finished the job so would be a shame but that will take a few more mths ?
Get the feeling though maybe better getting out while the gettins good !Cheers
Mister wrote:Hi guys
I'm hoping to get two more renos on market by December 'ish .
Both Vic rural towns but have done well and still seem to be selling – slowing but moving.
There's plenty of lee-way in my sell price but I will need to turn them over so as to put towards my new place early next year.Just supposing the US does totally implode in the meantime which is highly possible – sorry but I don't think we've seen anything yet , but will that be enough to stop our market dead in it's tracks then and there or will it all take 6 – 12 mths I'm wondering ?
Can't afford to get stuck with these baby's.
Abit worried that even a price dump won't sell the properties should things turn mean !
What do ya reckon ?Cheers
we are full time renovators & have decided to pull out & wait till prices fall at least 20%
its just not worth the risk right now.
when the fit hits the shan, it doesnt matter what you drop your ask price to, if theres no buyers, it doesnt sell.
crashy wrote:we are full time renovators & have decided to pull out & wait till prices fall at least 20%its just not worth the risk right now.
when the fit hits the shan, it doesnt matter what you drop your ask price to, if theres no buyers, it doesnt sell.
Thanks crashy – exactly the feedback I was after – opposite to what I was hoping but – important none the less .
This one is an important stepping stone for me – I could go full time from there like you and setup my new place on a great footing too – bugar .
If left holding baby though, opposite result altogether unfortunately .
Are there any safe projects between now and Christmas , silly question I spose !
Another option could be if got stuck with it – rent it out – if it does – and use the equity against my new place – if things don't dump and it still actually ends up with the equity that is – another loaded impossible question I guess .
CheersI’m looking at deals that will rent positive cash flow from day one. Secured one and the other needs work til +cf, there also one’s that can be renovated and sold at anytime when ready.
If they are houses that are renovated and all done to the last finishing touches then agent are confident of buyers in the 140k-200k range. Least that’s what’s moving the best if any. So I’m targeting the low-to-middle range buyers.
I subscribe to the school of thought that you can make money in any market provided you find the right deal and the margin is there with room to move if the market changes. This market i am in right now is sluggish and slow houses sitting on the market for a little while but in the next year demand is going to increase because of the macro market to do with new long term jobs and housing demand. That’s also the plus and the upside i’m aiming for is this market.
Jaffasoft wrote:I'm looking at deals that will rent positive cash flow from day one. Secured one and the other needs work til +cf, there also one's that can be renovated and sold at anytime when ready. If they are houses that are renovated and all done to the last finishing touches then agent are confident of buyers in the 140k-200k range. Least that's what's moving the best if any. So I'm targeting the low-to-middle range buyers. I subscribe to the school of thought that you can make money in any market provided you find the right deal and the margin is there with room to move if the market changes. This market i am in right now is sluggish and slow houses sitting on the market for a little while but in the next year demand is going to increase because of the macro market to do with new long term jobs and housing demand. That's also the plus and the upside i'm aiming for is this market.Thanks for the thoughts Jaffa , been so busy I forgot to check in on this thread.
Agree with what you've said here actually . Will Pm you with ideas happening if you don't mind.
Cheers
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