Hi there I have found what i think could be my first IP purchase. Its a unit amongst three others. They all seem identical on the outside. I am not sure what the others look like on the inside but this one needs a bit of renovation ie paint, carpets, update kitchen and bathroom and general garden tidy up. This my dilemma which is running around in my head and i would like to hear some opinions on this.
1/ what if i was to renovate this property and it happens to be much nicer that the other 3 on the lot- would it attract more rent or would i only be able to yield the same rent as the other 3 on the lot
2/ what if i was renovate this property and sell it at a later stage given that it might be nicer than the other 3 units would it attract a price that is deserving of its condition or would the value of the other 3 units come into play here an determine the price
I guess i would like to know do all units on one block function identically in relation to sell price and rental yield.
thanks for your anticipated opinions
lostie
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