Ok so time to reveal a property I secured 2 – 3 months ago, but prolonged my exchange to get further delayed settlement.
It is a little cottage home in a soon to be rezoned area.
It doesnt have street power or water, however similar properties are selling mid – high $100,000's. As for the property it has an exsisting rights on it where it has council bin service being picked up from the property also.
It is certainly a unique position, where one can make good future gains. It is not a good foundation style property, yet it is a low entry high upside deal with strong cashflow to support it in its current market.
Enjoy the pics – http://binvested.com.au/sydneys-chea…ent-220-250pw/
and the video – http://www.youtube.com/binvested#p/a/u/2/RWAnNuF_t4c
Nath.
Looks like a great find alright. Especially with the Bundaberg airplane being part of the deal!
You say there's 'existing rights' for the property and it sounds like you're expecting the council to possibly have an issue with this. Did you buy the place before confirming with them? Or is it likely that they'll go with what you have planned? Frequently hear of dealing with councils as being one of the biggest headaches with reno's etc so wondering if you have your own way of approaching them to ensure they are more helpful with your plans?Regards,
Derek
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