Well as of tomorrow I will have the keys to my 1st IP property (good, bad or indifferent) its mine. I can say the last month has been interesting and a sharp learning curve mainly with the bank and lessor extent insurance companies. I will open another thread on the bank issue and not bore people with it here.
The renovation I have a link hereabouts which should say mosthttp://www.realestate.com.au/propert…idge-106424040,
suffice to say I have my work cut out and will be doing a total make over. There is debate at the moment to change the louvers to sliding windows and if I install the front deck or not.
Basically I will be ripping everything out bathroom, kitchen, laundry, toilet and doing some landscaping, including a large tree removal . The exterior walls are double brick so just a big clean to them, internal walls I will be cleaning and sheeting. Drop all ceilings and construct a couple of walls. Repair the burnt area, not a major issues unless the engineer gets excited.
As I have no power I have spoken nicely to the neighbour and can source power from there for a couple of weeks till sparkie does his bit and energex gets out and hooks it up.
Anyway I will take photos as I progress and a list of costs for anyone that is interested.
I can say this is a buy, reno and hold project.
Briangod_of_moneyParticipant@god_of_moneyJoin Date: 2008Post Count: 971
where about the property… the REA has deleted the link
Bugger it was active when I posted, as I checked first. The property is Woodridge Qld.armsParticipant@armsJoin Date: 2007Post Count: 16NBS wrote:
Bugger it was active when I posted, as I checked first. The property is Woodridge Qld.[email protected]Member@roslynnchalwell-yahoo.comJoin Date: 2003Post Count: 67
I thought our last reno was challenging, you win:) Hope all goes well and that you acheive everything you set out to.
Keep us updated.
RosgoldiesMember@goldiesJoin Date: 2010Post Count: 115
Wow – have fun! Can i ask how much you paid for this?
I paid $190.000 and it is my intention to get the place sorted and up for rent for an end total of around $230000 – 235000. Current rents from a few agents in the area indicate $300 a week my son has a family wanting to rent it for $320 and the finish time works for them as well. But will see what happens when its ready.
Time frame I have given myself is 3 months. I feel I can sort it quicker than this "but" reno's being reno's there will always be something to fix before you move forward.
Of course I'm off to a bad start my work ute is out of commission for a couple of days damn it. So have taken wifes car which she is not real happy about, and of course i'm not real happy either turning up in a buzz box.
maree_bradrossMember@maree_bradrossJoin Date: 2007Post Count: 401
Oh wow. When I looked at the first pic – I was thinking this looks like a nice solid house lol.
Look forward to your updates, and how the budget travels
Will give an update ASAP how do I post photos on this site?
BrianducksterParticipant@ducksterJoin Date: 2004Post Count: 1,674
Here is the link for the property in question
Yes I know it looks exactly the same as the previous link but what I discovered is REA moves the properties sold
to the sold area rather than the buy area of their web site
Update – the place has been ripped apart, all ceilings, the kitchen, laundry, bathroom, I have also removed a couple of walls as I figured it was easier and more cost effective to do this. Next week I can start to build the walls, install bath, and organise for the sheeting to be delivered for Friday. I have also had an engineer give the tick that all the fire area is sound and thus does not need replacing (which I knew, but had to get the tick). Sparkie has also run all the wires and I now have power to the place with a couple of power outlets installed in the metre box.
A rather large tree was also removed (well tree lopper did) a chinese elm about 50 odd feet high covering two houses and electrical wires for $880.00 this included stump removal, I felt that was a good price and the stump removal will happen later this week
Stump to be removed, sheeting to be delivered, some roof tiles to be replaced, gutters and downpipes to be cleaned, measure and order windows to replace louvers.
At this stage I am below budget so that is pleasing. Anyway if I can work out how to post photos I will put some up.
BriansonyasalMember@sonyasalJoin Date: 2008Post Count: 421
the cost fro tree removal sounds fantastic, tree removals in the blue mountains cost minimum of $2000DevRealtyMember@devrealtyJoin Date: 2010Post Count: 2
Hope the Renos are going well.
Can I ask who you used for the Tree removal, as that does sound like a pretty good price and I have few similar size pines I need to remove.
Hope to hear from you soon.
To date I have only had about 14 active days on site (bugger) so where we are at is roof tiles hopefully to be installed this Friday, sheeting to be delivered Friday. I have decided to replace all the louvers with sliders and these have been ordered and set to be delivered in 7 – 10 days. Kitchen was ordered yesterday and set to be installed on the 24th / 6. Plans have been done and ready to be submitted to certifier for front deck and carport should be starting that in about 4 weeks (hopefully much earlier) pity about my other days job slowing me up.
I was given the all clear by an engineer for the fire damaged sections with no structual damage. My large termite mound in the front area also NO structual damage which I figured was the case when I inspected prior to buying.
This week a couple of cupboard walls and bath to be installed, replace the three damaged boards in the toilet. Complete all structual works ready for sheeting. Pick up and install insulation and start sheeting the place.
At this stage I'm happy where i am at with only 14 active days work been carried out.
Currently my budget is below estimates but this will change a little due to a couple of changes having to be made.
Briandnh83Member@dnh83Join Date: 2009Post Count: 81
Talk about buying Problems….good luck with the rest of the Reno Brian.
Regarding pics, you can create a free account on a file sharing website, upload the photos, then paste a link to your photos into this forum topic.
Search Google for a ‘Free file sharing’ site. It’s the only way I’ve figured out how to post pics on here for now.
Normally I’d paste a link for you but I’m on the iPhone heading into work.
Good luck !!
Well things have progressed slowly and the place is now at least sheeted, new windows, half the roof replaced, rewired, new kitchen and I'm now onto the doors archs and skirting. I have installed two builtins and an extra linin cupboard in the laundry. The plave will have fans in lounge, and all bedrooms, air cons in lounger and main bedroom.
The tiler and plumber should be coming this week and I can then do some finishing touches and onto the painting. Sounds easy but still a few weeks work to go as this is part time and a one man band. Had looked at 3 months and will be close on target.
At this stage I'm $ 6100 under budget but this will be overshot due to replacing half the roof and opting to replace the louvers to sliding windows but on the positive side a couple of agents say this will make it better for people to rent and or sell.
I have had a couple of people approach me to rent the place but a bit early I said it would be $320 a week and they said that would be ok. But when ready to rent we will see I plan to get an agent to get a tennant and I am looking at managing.
Anyway not sure if this link will show the progress, if not will set one up for anyone interested, sory if the photos are a bit mixed up.
Ok link does not work will have to set something up.
Anyone got a link to a good site to file share?
Briandnh83Member@dnh83Join Date: 2009Post Count: 81