Hey everyone,
For those of you interested, below is a link to some before & after pics of my first IP which I bought in April 2011.
Some facts about it:
*Bondi Junction location.
*1 Bed 1 bath 1 Car space.
*Purchase price :399k
*Was tennanted for 7 months at $395pw when purchased.
*Moved in after the lease was finished for 9 months and renovated in spare time.
*Used first home owners grant.
*Renovation costs was just over 3 grand as I did everything myself (sparkie) and help from my dad.
*Most expensive costs were, Laminate flooring $1600, Structural Engineers certificate $660 (to knock down wall) and resurfacing bath by professional $600.
*Is now a IP and leased at $460pw.
*Was revalued by bank at $415k. (was a bit dissapointed that wasnt higher but I guess I only spent 3k and the market is a bit slow atm)
I asked quite a few questions while I was renovating on this forum about different things and always received helpful answers, so thank you to everyone.
http://img853.imageshack.us/slideshow/player.php?id=img853/6397/13572045695d0.smil
I would be interested to hear peoples thoughts.
CHEERS
For those of you interested, below is a link to some before & after pics of my first IP which I bought in April 2011.
Some facts about it:
*Bondi Junction location.
*1 Bed 1 bath 1 Car space.
*Purchase price :399k
*Was tennanted for 7 months at $395pw when purchased.
*Moved in after the lease was finished for 9 months and renovated in spare time.
*Used first home owners grant.
*Renovation costs was just over 3 grand as I did everything myself (sparkie) and help from my dad.
*Most expensive costs were, Laminate flooring $1600, Structural Engineers certificate $660 (to knock down wall) and resurfacing bath by professional $600.
*Is now a IP and leased at $460pw.
*Was revalued by bank at $415k. (was a bit dissapointed that wasnt higher but I guess I only spent 3k and the market is a bit slow atm)
I asked quite a few questions while I was renovating on this forum about different things and always received helpful answers, so thank you to everyone.
http://img853.imageshack.us/slideshow/player.php?id=img853/6397/13572045695d0.smil
I would be interested to hear peoples thoughts.
CHEERS
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