Anyone interested to buy my Churchill property?
- Thread starter rodimus
- Start date
Why are you sellling and where is churchill?.
That's a good looking property,i don't know nothing about the area but near the Uni sounds good,and people say every day they can't get into property investing..good luck willair..
churchill is in victoria, gippsland area, in the La Trobe Valley. It is a small town, about 5 minutes drive from Morwell which is a bigger town centre. Most of the people in Churchill hang out in Morwell, as there are lots of shopping centres and shops and facilities. In Churchill there's the Monash University Gippsland Campus which is quite big. Many students live in that area.
I'm selling it to buy my own apartment to live in. And if i sell this financial year, i dont have to pay CGT, due to my tax situation this year. Also, the current tenant is moving out soon, so I thought it's a good time to advertise for sale, to attract First Home Buyers who want to live in it. To look for tenant, it is easy in Churchill. I owned this for about 6 years, and it has always been tenanted.
I've already added a new cooktop to the kitchen and new lightings recently.
The agent advised it can be rented at $155 p/w. I was only renting it at $140 p/w before. About 1 and half year ago the rent was only $130p/w.
Capital growth in the area has been steady and good.
Overall, its a low price property to start up your portfolio. Not many area with under $200k houses left in Victoria.
I'm selling it to buy my own apartment to live in. And if i sell this financial year, i dont have to pay CGT, due to my tax situation this year. Also, the current tenant is moving out soon, so I thought it's a good time to advertise for sale, to attract First Home Buyers who want to live in it. To look for tenant, it is easy in Churchill. I owned this for about 6 years, and it has always been tenanted.
I've already added a new cooktop to the kitchen and new lightings recently.
The agent advised it can be rented at $155 p/w. I was only renting it at $140 p/w before. About 1 and half year ago the rent was only $130p/w.
Capital growth in the area has been steady and good.
Overall, its a low price property to start up your portfolio. Not many area with under $200k houses left in Victoria.
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I just put up an ad for rental few days ago, and today I got a call from a guy who is interested to rent. What should I do?
My sales agent advised me to let it be vacant in order for him to sell it easier.
My existing tenant wants to move out middle of September. I dont know how long it will take the agent to sell it, maybe I should sign up the new tenant on a month - month basis? hmmm, interesting situation......
My sales agent advised me to let it be vacant in order for him to sell it easier.
My existing tenant wants to move out middle of September. I dont know how long it will take the agent to sell it, maybe I should sign up the new tenant on a month - month basis? hmmm, interesting situation......
hi
i have been painting the whole interior myself, and repairing a few items. Taking quite a long time for the handyman to be available to fix some items.... they say its near xmas time and they are up to their neck trying to fit in all customers....
are you interested to buy?
I actually had more than 6 people calling and emailing me saying they're interested to rent (all of them students or staff in the Monash Uni nearby), but I had to reject them all because i havent finish renovating.
i have been painting the whole interior myself, and repairing a few items. Taking quite a long time for the handyman to be available to fix some items.... they say its near xmas time and they are up to their neck trying to fit in all customers....
are you interested to buy?
I actually had more than 6 people calling and emailing me saying they're interested to rent (all of them students or staff in the Monash Uni nearby), but I had to reject them all because i havent finish renovating.
Better get moving then. Soon the new year will have started and all the students & staff will have found accommodation.
wow - fresh lick of paint and a great yield for an older home.
by the way, agents say it can sell for around $165,000, due to the shortage of property and sellers in Churchill. woohoo!
Also, great news is that rents have skyrocketed in the area in the last 6 months, and this property can be rented out for $190 - $200 per week. I put up an ad in internet and got a few calls from students and staff from Monash Uni.
In the 7 years holding this property, it has always been easy finding tenants. I have rented to students, staff of uni, single mum and family before.
If you know anyone interested to buy, please send me a message!
Also, great news is that rents have skyrocketed in the area in the last 6 months, and this property can be rented out for $190 - $200 per week. I put up an ad in internet and got a few calls from students and staff from Monash Uni.
In the 7 years holding this property, it has always been easy finding tenants. I have rented to students, staff of uni, single mum and family before.
If you know anyone interested to buy, please send me a message!
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Bugger, wished that I had seen this earlier!!
Did you end up selling it OP?
Did you end up selling it OP?
Hi all,
I just remembered this old thread. I just sold this house late last year around November 2011.
I finished renovation (new paint inside, new carpet, new blinds, new kitchen bench, new cooktop) around early 2010, and then I rented it out for increased rent of $210 pw. Previously it was only renting $140pw because it was an old place, old carpet, old paint on internal wall just looked really untidy with wall marks, finger marks etc.
Before reno, the agent told me I should sell it off at $120,000 in Sept 2009. I think the agent just wanted a quick sale and commission to sell it as a "TLC Required by Handyman". But I decided to fix it up (eventho I lived in Melbourne at the time, and I had to travel to Churchill in weekends with my sister to do the painting). But half a year later, the reno was done, and agents say they can sell it for $150,000. I really wanted $160,000 - 170,000.
I put it up for sale myself, putting ads in realestate.com.au. Not many replies. And for another 6 months the property was empty (becos I didnt want to rent it out, wanted to keep the paint and carpet fresh). But no tenants = spider webs inside, and no rental income.
So I decided to rent it out in late 2010, and I achieved $210 pw. (Pre-renovation was $140pw). But the tenant moved out after a few months after she found she had illness that needed hospital treatment.
Then the agent got a medical student to rent it for $180pw, I was happy to rent to her cos the was 1 person, tidy, parents paying rent for her, and she just wanted a nice quiet place to do her studies and sleep. And she didnt have any animal or human pets (kids
) to trash the place. She decorated the interior and made it very homely, kept the house very clean. In the meantime another agent in Traralgon listed the property for me for sale. No news from them from late 2010 to later 2011. Probably because other people tried to offer too low and the agent didnt bother to contact me, because she knew I would never sell below $165,000.
Then in November 2011, out of the BLUE i got an offer. $170,000!!!!
I just remembered this old thread. I just sold this house late last year around November 2011.
I finished renovation (new paint inside, new carpet, new blinds, new kitchen bench, new cooktop) around early 2010, and then I rented it out for increased rent of $210 pw. Previously it was only renting $140pw because it was an old place, old carpet, old paint on internal wall just looked really untidy with wall marks, finger marks etc.
Before reno, the agent told me I should sell it off at $120,000 in Sept 2009. I think the agent just wanted a quick sale and commission to sell it as a "TLC Required by Handyman". But I decided to fix it up (eventho I lived in Melbourne at the time, and I had to travel to Churchill in weekends with my sister to do the painting). But half a year later, the reno was done, and agents say they can sell it for $150,000. I really wanted $160,000 - 170,000.
I put it up for sale myself, putting ads in realestate.com.au. Not many replies. And for another 6 months the property was empty (becos I didnt want to rent it out, wanted to keep the paint and carpet fresh). But no tenants = spider webs inside, and no rental income.
So I decided to rent it out in late 2010, and I achieved $210 pw. (Pre-renovation was $140pw). But the tenant moved out after a few months after she found she had illness that needed hospital treatment.
Then the agent got a medical student to rent it for $180pw, I was happy to rent to her cos the was 1 person, tidy, parents paying rent for her, and she just wanted a nice quiet place to do her studies and sleep. And she didnt have any animal or human pets (kids
) to trash the place. She decorated the interior and made it very homely, kept the house very clean. In the meantime another agent in Traralgon listed the property for me for sale. No news from them from late 2010 to later 2011. Probably because other people tried to offer too low and the agent didnt bother to contact me, because she knew I would never sell below $165,000.Then in November 2011, out of the BLUE i got an offer. $170,000!!!!
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Congratulations Rodimus
Fantastic work, I'm still left thinking that renting it out for $210 a week or thereabouts on a loan for $170K is pretty good!
Glad to hear that people are still buying up in Churchill, and the properties are renting out well.
Glad to hear that people are still buying up in Churchill, and the properties are renting out well.
Fantastic work, I'm still left thinking that renting it out for $210 a week or thereabouts on a loan for $170K is pretty good!
Glad to hear that people are still buying up in Churchill, and the properties are renting out well.
Hi
Yeah! I think Churchill is one of the place that positive cash flow comes up once in a while. I bought in 2003 for 83,000 and the rent was $120pw. By 2005, the value went up to 105,000. The growth for Churchill in 2003 was like 24% per annum for that year
NOw looking back at the After Photos in comparison to the Before Photos, just a fresh coat of paint and new carpet really made it look like a new property.
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Great work with the reno Rodimus. They're some excellent results.
Just a suggestion.. I think the appearance of the front of the house would be greatly improved after investing in a grass edger. One couldn't be more than $20 from Bunnings
Thanks very much for the suggestion VB!
