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  • Avatar of kum yin laukum yin lau
    Member
    @kum-yin-lau
    Post count: 342

    Anyone still interested in Adelaide?
    House + reno deal 6 km from CBD with $20-25K equity upon completion available.

    Hope this is not considered as advertising.

    Kum Yin

    Avatar of LilahLilah
    Member
    @Lilah
    Post count: 1

    Hi Kum Yin,
    I am from Adelaide, could you please explain what you mean?
    Lilah

    Avatar of kum yin laukum yin lau
    Member
    @kum-yin-lau
    Post count: 342

    Hi, I bought a house in Blair Athol & have approval pending to sub-divide it while retaining the existing house. The old house is a bit tired looking & requires an update.

    The house is on 500m2 originally just under 800m2. The new allotment alongside is 295m2.

    The project will suit a handyman or someone looking to expand a rental portfolio or a 1st homeowner. The reasons: it's under $250000 & will qualify for the grant.  The reno will bring its value up to the present average price. Similar houses are quoted at $320-350000.

    I'm not efficient at renos.[don't know a hammer from a nail]

    So I'm passing it on to anyone who can efficiently do the alterations. A licensed builder would be great. I reckon the work will cost $30000 but if I do it, it'd likely cost $50000 so I've budgetted $50000. I call it the inefficiency buffer.

    It's currently tenanted at 5% yield. It can be used for student accommodation. We had ten parties looking to rent it because we had the lowest asking rent.

    Anyone in Adelaide interested can contact me via email. Meantime, I have lined up Rocca's to give a quote on the alterations.

    Have a good day,
    Kum Yin

    Avatar of NEWGENNEWGEN
    Participant
    @NEWGEN
    Post count: 151

    Hi Kum Yin,

    Can you email me some more details of the property?  hung@internode.on.net.

    Cheers

    Avatar of Rich MumRich Mum
    Member
    @Rich-Mum
    Post count: 11
    kum yin lau wrote:
    Hi, I bought a house in Blair Athol & have approval pending to sub-divide it while retaining the existing house. The old house is a bit tired looking & requires an update.

    The house is on 500m2 originally just under 800m2. The new allotment alongside is 295m2.

    The project will suit a handyman or someone looking to expand a rental portfolio or a 1st homeowner. The reasons: it's under $250000 & will qualify for the grant.  The reno will bring its value up to the present average price. Similar houses are quoted at $320-350000.

    I'm not efficient at renos.[don't know a hammer from a nail]

    So I'm passing it on to anyone who can efficiently do the alterations. A licensed builder would be great. I reckon the work will cost $30000 but if I do it, it'd likely cost $50000 so I've budgetted $50000. I call it the inefficiency buffer.

    It's currently tenanted at 5% yield. It can be used for student accommodation. We had ten parties looking to rent it because we had the lowest asking rent.

    Anyone in Adelaide interested can contact me via email. Meantime, I have lined up Rocca's to give a quote on the alterations.

    Have a good day,
    Kum Yin

    Hi Kum Yin,

    Can you also email me some more details of the property?  lahn_au@yahoo.com.

    Thanks

    RM

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