Floating floorboards on Ebay

Thanks for the response Scott. My wife is going to order a couple of samples. We’re also going to grab some carpet online. Nothing better than a cheap, cosmetic reno!

I’ll report back with a verdict in a couple of months.

Cheers

Jamie

Hey Jac

We’re moving into an IP we have on the southside of Canberra. There’s some potential for value add – we’re going to replace the flooring, paint, reface the kitchen, carry out some work in the bathroom and a bit of landscaping out the front. We’ll get it revalued afterwards and hopefully tap into some equity for the next purchase.

Cheers

Jamie

Hey Jac

Good question. In Canberra, I personally prefer the outer burbs within the Tuggeranong region – suburbs where I can pick up basic 3 bedroom places on decent blocks of land which can do with some cosmetic renos to add some equity. Yields in Canberra are around the 5% mark – this can be boosted by allowing pets and carrying out the cosmetic reno’s above.

Quenbeyan’s better for cashflow deals. I see some value in the market for 2 bedroom units. The older stock can be tarted up quite cheaply for an instant equity gain – the yields are also quite good. Tenant quality can be an issue and the rep that has been bestowed on Queanbeyan (particularly from Canberrans) continues to exist.

Long term, I think an IP in Canberra on a decent block of land will do well. The smaller size of blocks in the newer estates coupled with the slow release of land by the ACT Govt. should hopefully deliver growth for these types of properties.

Cheers

Jamie

No mate – these are for a Canberra property