- Hi guys,
I thought I would spruik myself a bit and reveal the most recent project I have been working on. I purchased a 4 bed vandalized home in Moree for just $15,000 after it was initially on the market for $80,000. I am just in the process of renovating and am driving tonight to Moree to see how everything is going. I am a bit scared of the drive as the last time I embarked on such a long distance drive by myself I almost died in a car accident.
I have done a Nathan Birch style video of before the reno so your can view this by clicking on the link below:
http://www.youtube.com/watch?v=ooPTnnoG2pA
A story on this deal is also coming out in the September edition of the API magazine. Please feel free to contact me anytime with any questions you might have as I am more than happy to answer them.
Thanks for your time.
Regards,
Engelo Rumoraps. Add me on facebook for live updates on how the reno is going.
EngeloRumora | Ohio Cashflow
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Hi Engelo,great video mate ,the link doesnt work but i saw it on your website .how did you manage to find this sort of deals ,cheers
Hi APWPG,
Sorry about that I just added a new link from youtube.
The property was on Nathan Birches Dealfinder around a year ago. I have been to Moree and other regional towns many times and am always on the lookout for these cheapies. I kept an eye on this one and was in constant contact with the agent for over a year. It took ages to get it across the line. I am just working on another one probably buy around the same price but needs major renovating.
Engelo
EngeloRumora | Ohio Cashflow
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Well done.
For those who do not know the Moree area can you give us all a little information on the area, ie population etc. I understand it is a regional area? Will it be easy to rent?
What is the biggest risk in buying this type of property? I know Nathan purchases outside the square properties for his clients so is he also purchasing properties that only attract tenants from hell. I would like more info, as I love the entry level, .you may be lucky to buy a new car for $15K.
WI
Thanks for sharing this Engelo
Look forward to seeing the end product!
kong71286 wrote:Thanks for sharing this EngeloLook forward to seeing the end product!
Thanks kong71286,
I’m also looking forward to the end result, it’s a great feeling transforming these kind of properties.
EngeloRumora | Ohio Cashflow
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Hi Engelo,
Great video, you may have to start your own tv show.
Engelo's Reno's!
Dubstep wrote:Hi Engelo,
Great video, you may have to start your own tv show.
Engelo's Reno's !
hahahaha.
Thanks Dubstep, there are too many shows on reno's as is. I have something else in the works but it wont involve the Australian market.
Engelo
EngeloRumora | Ohio Cashflow
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$15k! That buys me a couple of french doors and a few windows in our PPOR.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
It is what my wife spent on shoes when we were in Paris last year …..
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
Engelo your becoming a slum lord
Hi Freckle,
Thanks for your comment.
I am trying not to be haha, I renovate to a better standard than what slumlords do.
Hope your well mate
Engelo
EngeloRumora | Ohio Cashflow
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Hi Taylor,
Thanks for your comment.
Engelo
EngeloRumora | Ohio Cashflow
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Hi Mate,
Good luck – looks like its a lot of hard work but im sure it will pay off. Keep the team here posted the progress!
Regards
Shahin
TheFinanceShop | Elite Property Finance
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Hi Engelo, that seems like a lot of reno work for $14,000.
Are you using local tradesmen or are they from out of town?
Great video and also looking forward to the end product.
Hi Shahin,
Thanks for your comment. Quite a bit of work with this one. Its coming along nicely tho.
Regards,
Engelo
EngeloRumora | Ohio Cashflow
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Hi S,
All of the trades are local from Moree. The renovation is very basic. Most materials were bought at Bunnings.
I will upload a video of the progress in the next few days.
Thanks.
Engelo
EngeloRumora | Ohio Cashflow
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IM IN HEAVEN
Below is a link of how the renovation is progressing on "Australia's Cheapest House" in Moree NSW. I hope you enjoy. I normally have a nice voice it just sounds wierd this time
http://www.youtube.com/watch?v=VCSe4_LITeE
Regards,
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
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Looking fantastic mate! Good stuff!
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