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The problem is that the house is very old.... But the land is huge (more than 900m2) and they say the estimated weekly rental is only around 360-380 per week....

Ok I will have a look into that. Do you think this is a good investment idea?

thanks for the reply. do you know how much it will cost to knockdown a ~20sq old house? and can you give me some examples for some hidden costs that build up to the 1.9m?

yes, similar double story houses are selling for ~700k in ringwood

Hey guys at the moment i am looking to put it an offer for a property down in ringwood and wondering if you guys can help me out and give me some tips. we are planning to buy a very old 3 bed house in ringwood for ~850k and then do a knockdown and rebuild 3 2-story townhouses(~800k) this will...