hi there
im new to this
(both investing and this forum)
i had a share in a investment property for 3 years and we are just about to sell after renovating it. we stand to make 150ish of it.
i never had much to do with it, pretty silent actually, but after looking at the prices of similiar houses in the area they r pretty much the same as what they were 3 years ago, so i have somewhat concluded that our appreciation in value has been determined by the renovations rather than the land value.
I would really like to know, in general, if you were buying renovating and then selling, would you be expecting to make a similiar margin as what we have made? is this normal? or a bit higher than normal.
the reason i ask is that i wish to do more but by myself and concentrate on reno rather than buying and holding and wish to hear from others what they have made.
my arguement with my friends is that we should of just bought reno and sold 3 years ago than sitting and waiting for not much in land value
regards
im new to this
(both investing and this forum)
i had a share in a investment property for 3 years and we are just about to sell after renovating it. we stand to make 150ish of it.
i never had much to do with it, pretty silent actually, but after looking at the prices of similiar houses in the area they r pretty much the same as what they were 3 years ago, so i have somewhat concluded that our appreciation in value has been determined by the renovations rather than the land value.
I would really like to know, in general, if you were buying renovating and then selling, would you be expecting to make a similiar margin as what we have made? is this normal? or a bit higher than normal.
the reason i ask is that i wish to do more but by myself and concentrate on reno rather than buying and holding and wish to hear from others what they have made.
my arguement with my friends is that we should of just bought reno and sold 3 years ago than sitting and waiting for not much in land value
regards
