Hey Team,
I have just found 2 deals at 155k purchase price both needing a mini facelift reno after which they would rent for 260 per week. One is around an hours drive North of Sydney CBD and the other is 45min South West of the CBD. Recent comparable sales for both buildings are 10% more than the 2 I am interested. So the question is which 1 to buy???
Thanks for your time.EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Are either of the properties tenanted?
Is one structurally better than the other?
Which one will cost more to renovate?
Hold old is each property?
What do locals think about either area?
Can you buy both?
Just a few questions off the top of my head that I’d be asking.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
What are the public transport amenities like? In other words, is there a train station that can take your tenant into Sydney CBD to the employment hub?
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
Thanks for those ideas guys, both are tenanted but not at market rent due to long term tenants. Also, they are close to transport and shopping. They would cost around the same to reno. I havent made an attempt yet to speak with locals. Will also see which 1 could possibly be negotiated at a lower price. At that price and being commuting distance to the CBD I think both are decent buys.
Thanks.EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
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