Fire damaged property in TAS

Fire damaged property in Ulverstone TAS

Found this fire damaged property in Ulverstone TAS http://www.domain.com.au/Property/For-Sale/House/TAS/Ulverstone/?adid=2008379428 which is open to offers over $50K.

Any guesses as to how much it would cost to make good? :confused:

I don't have contacts like Nathan Birch, so I would expect it would take us much longer and cost more to turn this property around. Also not to mention that this would be our first IP so it would be a challenge.

Any ideas welcome.
 
had a look in the area you could get 3 bedroom home for around $200
but if you can manage to reno it to rentable at 50k that's 100k equity, which is pretty good. i guess also depends on how much you can get it at.

depends on the damage and the cost maybe some other expert can give you a better estimate.
 
Don't have long to answer your question, have to rush off to work, what I will ask is do you have the ability to do some of the work or will you need to pay to get it done.

Has the fire penetrated the ceiling, damaged the roof timbers, if it has, is it roof trusses or a pitched roof (most likely pitched), at a guess I will say the roof timbers should be ok with only charring (depending on the roof timbers used) if the ceiling was tempered masonite this will have held the fire a bit.

The windows appear to be aluminium I looked at one just recently and could not move the stain so you may need to replace the windows? You maybe best to ask a fire restorer about getting the place cleared of the smoke smell and can they clean the windows?as well.

What would a place like this sell or rent out for when completed.

I am doing one at the moment I have some photos in the gallery and I have a thread on the "add value" (I love a reno Challange). You could be looking at anything from 40 - 80 thou depending on what you have to do.

Brian
 
Hmmm... You dont need such a big task for first investment....

Do you mind if I buy it?

I will make a youtube video and show some handy hints along the way??

:)

J/K's

Nath.

It looks good, but think there will be lots of competition, especially now...
 
Just because its your first don't be put off. Yes there is a lot of work involved. However if you look at it in stages and take the time to view each room and be honest at what needs to be done and make a list. You can look at costings in a more detailed manner. A few things to consider what you don't see is insurance (if its worth getting) you will have to get a delapitadtion report this will provide an insurance company knowledge of the existing damage, then to find one to give you cover :cool:. Is it worth getting insurance thats a desicion you will have to make but public liability I would get. Insurance during construction is another to be considered.

People to consider for works Builder, Certifier, Engineer, Carpenter, Plaster, Tiler, Plumber, Electrician, Painter, Carpet layer etc. You may consider going owner builder (not sure of the rules in Tassie for this) Depending on where the meter box is and the electrician he may want to replace all the wiring and not junction box the damaged areas.

I dare say some roof sheeting and sarking will need to be replaced as well as ceiling insulation again check this out.

If you are prepared to do some of the work this will usually save costs, IE rip out the damaged areas and clean down, painting, installing the new kitchen cabinets, you may even be able to run the new wiring, if the wiring is just going back to the same location you can then get a electrician to finish it off. Off course speck to the electrician first.

You are the only one to say what you feel you can do etc, the more you do yourself usually the better off you will be and you will be learning as you go to have the knowledge for the next place.

Can you get more photos of the ceiling above the fire area the roof timbers

I also agree there will be a lot of competition to buy. do your sums and good luck.

Brian
 
Just because its your first don't be put off.

......
I also agree there will be a lot of competition to buy. do your sums and good luck.

Brian

Thanks for taking the time to provide a detailed response. It has certainly given me a lot to think about. I know my way around a hammer and power saw having doing some plastering, replacing windows and weatherboards. But I still takes me much longer than the tradies, and I always end up with some sort of bandage on my hands.. :)

I think this particular property has a lot going for it but at this stage it may be a little too much for us to 'bite off' for a first reno. If it was nearer to home then I would seriously consider it, but managing the reno from Melb would give me more grey hairs.
 
Do you mind if I buy it?

I will make a youtube video and show some handy hints along the way?? :)

J/K's

Nath.
It looks good, but think there will be lots of competition, especially now...

No worries, Nathan go for it! I knew when I posted the link on here that it would be on for young and old. I was more interested in feedback and things to watch out for the 'next time'. :D

I dunno what it is at the moment because we have found another fire damaged property on the net. Nathan, I am happy for a spotters fee if you like j/k.

Opportunity is everywhere.
 
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