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Not scoring just curious. Its interesting to see if any broker has none at all or say 5 or more because it would be hard not to get involved with property investing if you are dealing with loans, just the same i suppose if you were a real estate agent.
[
]DomMortgageHunter..and other’s, probally Mini/markpatrick too as they said she reno’s her properties
As far as Renovations go… what do you usually decide to renovate to value-add to the property ( other than any *glaringly* obvious problems)
My thought’s would be Kitchen or Bathroom ( due to time spent in both )or cosmetic exterior/ interior additions to change a properties appearence.
Just curious ? i know it’s like asking ‘how long is a piece of string’ [
]REDWING
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
My recent one was just a student rental place. Brick 5 bedrooms and was once a beautiful home.
So my endgame result was to have somthing still for students but that would val up well and command the higher end of the rental market.
The place was a disaster and hadn’t been cleaned or gardened for years – I mean maybe 5 years.
So we rediscovered the front and rear garden (this poss added the most value) cleaned and painted every interior surface. Replaced the kitchen with a big budget melamine and formica job with stainless steel handles which actually looks pretty good. Retiled the kitchen floor. Lastly we White Knighted the bathroom, new vanity and new showerscreen and new tapware.
All up we spent about $7000 plus a lot of time. It was empty over Jan and as my wife is a student herself we had the time.
We bought for $315K and it has since been valued at $390K. Rent is $515pw and filled it immediately. I think we went too cheap and could have got maybe another $50 pw but we want these kids to stay all year and maybe next year so we aren’t complaining.
Now if I was renovating to sell I would have spent a whole lot more money on it.
Cheers,
Simon Macks
Mortgage Broker
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thanks for your input a least theirs one of you.
Dom[]
]Dom
]
