- engelorumora wrote:IM IN HEAVEN
Below is a link of how the renovation is progressing on "Australia's Cheapest House" in Moree NSW. I hope you enjoy. I normally have a nice voice it just sounds wierd this time
http://www.youtube.com/watch?v=VCSe4_LITeE
Regards,
Engelo
Nice work Engelo the house is coming along nicely!
Do you plan on keeping the house and renting it out at a nice yield or are you planning on selling it?
If you do plan on keeping it are you worried that these vandals won't stop and you will be forever having to change windows?
Or do you think it is more because the property is vacant and should be fine once it is tenanted?
Keep up the good work and videos!
Cheers,
-Nathan
engelorumora wrote:IM IN HEAVENBelow is a link of how the renovation is progressing on "Australia's Cheapest House" in Moree NSW. I hope you enjoy. I normally have a nice voice it just sounds wierd this time
http://www.youtube.com/watch?v=VCSe4_LITeE
Regards,
Engelo
Nice work Engelo the house is coming along nicely!
Do you plan on keeping the house and renting it out at a nice yield or are you planning on selling it?
If you do plan on keeping it are you worried that these vandals won't stop and you will be forever having to change windows?
Or do you think it is more because the property is vacant and should be fine once it is tenanted?
Keep up the good work and videos!
Cheers,
-Nathan
Sorry somehow I managed to post twice above ^^^ Does anyone know how to delete a post? I tried Edit but couldn't find anything??
Hi Eungelo,
The house is coming along well !
Was there a particular reason for buying in Moree ?
Unfortunately I do not know the area, or what the local industries are.
Cheers
Dubs.
Thanks for the update, and congrats on getting the kitchen close to completed and majority of rooms painted
As Nathan mentioned having to keep changing windows might be an issue to address.
What are your thoughts about installing crimsafe security screens to the property?
This looks a really exciting project albeit the 'paintings' on the walls seem to be a tad confronting! Nevertheless good luck!
Hi Nathan,
Thanks for your comment.
I am not sure as to what I will do either sell or refinance. If I refinance and keep the property I will put up a fence around the house just to make it a bit harder for possible vandals. I have great insurances in place for any further damage. The most important thing is to get tenants in asap. This will reduce the risk of further damage to the property.
Regards,
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Thanks for your comment Rusty.
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Hi Dubstep,,
I was a follower of Nathan Birch back in the day and loved the work he was doing. He owns quite a few properties there so I also started looking into the area more seriously. Moree is great for the yield orientated investor.
How can you go wrong with buying a house for $15,000?
If it was in any other town at that price in Australia I would buy again without thinking.
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Hi kong71286,
Thanks for your comment.
This is something I will definetly consider if I intend to hold the property. I will be going to Moree again next week and will get some quotes organized. I am not familiar with the pricing on these security screens.
Regards,
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Keep the videos coming Engelo. It is funny how a reno starts off looking easy then you get all the hiccups along the way. Hopefully you have allowed for some contingency i.e new flooring and windows!
I am hoping you do well as your singing career doesn't look too bright..
Thanks for your comment santh,
After completing many renovations I never go into one saying its going to be easy. There are always unexpected issues along the way. Even if I spend $30,000 renovating this one there is still a good profit to be made.
No more singing, I will dance in the next video haha
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
A mate owned a servo back in NZ some years back. Graffiti was a problem and the odd bit of vandalism. He hired some of the local kids to do minor work, gardens, windows etc and to keep an eye on the place. Vandalism and graffiti stopped overnight.
You might want to try the same strategy.
Hi Freckle,
Great idea mate,
I currently have a few local boys scraping the underlay of the floorboards. I think the most important thing is to get tenants in there asap. We wont be installing new windows or painting the exterior until 1 day before the tenants move in. After that all damages are covered by insurance. I doubt there will be much once the property isnt vacant anymore.
ps. We have tenants lined up already
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Great video. Looking forward to the end product. Should be fascinating.
Hi homeproperty,
Thanks for your comment.
Much appreciated.
Regards,
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Hey guys,
I am happy to say that we have finished renovating "Australia's Cheapest House".
The end renovation cost was $15,000. There was quite a bit of plumbing and electrical work done to the property. Also, had an unexpected expense with the broken windows.
The property is tenanted for $180pw showing a 20% yield after all costs. I hope you enjoyed the videos and feel free to ask any questions.
http://www.youtube.com/watch?v=gcr0HVGAIG0
Engelo
EngeloRumora | Ohio Cashflow
http://ohiocashflow.com/
Email Me | Phone MeF@#$ THE REST WORK WITH OHIO CASHFLOW TO INVEST
Good renovation considering the original state of this old house.
I imagine that most of the damage and graffiti is done at night time, therefore maybe a good idea to install a few sensor-security lights around the place?
Again well done, at least your out there giving it a go and by the looks of things making some good money!
If it where my property I would be tempted to sell and collect the $40,000 profit.
Hi, this looks like a great deal though the way to the place seems like a bit of a hustle. I wish you all the best. Follow this link for more on the low price deals. http://www.bigpondmoney.com.au/the-art-of-the-low-offer
You must be logged in to reply to this topic. If you don't have an account, you can register here.
