My Latest Reno

[Truly Exotic]

A few people have asked me to post this one up so here it goes

Purchase Price $37k
Reno Estimate: $30-$33k
Rent: $210-$230pw

Has no kitchen, laundry, floors, walls (int/ext), redo electrics, redo plumbing
Pics

Wish me luck!

 

[coastal]

Smells like a healthy chunk of equity once finished....good luck!

 

[china]

Good luck.

15% rental return -thats amazing. Are you doing the physical work?

 

[888]

Good Luck!

16% return is great but how you manage to do all the reno with only $33K budget?

Didn't know that you can still buy property and land for $37K in Australia.

 

[DaveM]

Ahh good old ex houso pizza hut house, its the stuff dreams are made of.

 

[coastal]

Is this in Kempsey?

 

[Richard Feynman]

At that purchase price, this isn't a pivotal consideration, but what's your reno timeline looking like?

Looks like a ripper project.

 

[Hypnotic Cat]

Best of luck, I'd love to see the finished result. That's a pretty cheap purchase, is it a regional area?

 

[Truly Exotic]

Thanks everyone, its in 2650

Unfortuantely, the area is hard to find a tenant, so im expecting it to take 2-3 months to find a tenant, so any cashflow positiveness shouldnt be relied upon

MY last few renos have all gone over 20% due to bad luck and my behalf so im not holding breath on keeping within budget on this one

Plus finding good workers is really tough

 

[coastal]

again ....top stuff....how long will this take to reno?

 

[CHAOS]

Looking forward to seeing the finished result.

Any updates on this one
http://somersoft.com/forums/showthread.php?t=92082

 

[Truly Exotic]

Looking forward to seeing the finished result.

Any updates on this one
http://somersoft.com/forums/showthread.php?t=92082

Still going on that one unforutnately, I went overseas for almost a month, plus end of year so not much happened in Dec, coming across expesnively and slowly hopefully will be finished soon. Cant wait for it to finish, quite over talking to the same people about the same stuff

again ....top stuff....how long will this take to reno?

id say 2-2.5 months since im not going to be doing any of the work, except maybe a few days

 

[CHAOS]

Thanks for the update Truly. We did a full on reno 2 years ago - and we thought it would never end. It was our first. I was interested in seeing your progress to learn what to do differently / better.

Is this your full-time job? Purchasing and managing renos? Well in between holidays.

Best of luck with the new reno.

 

[Truly Exotic]

Update: had 5 walls kicked in and the 2 doors kicked in over xmas by thugs

not a good start, but not surprising

 

[Kinnon Bell]

There were walls and doors left to be kicked in???

Good luck with it.

 

[Truly Exotic]

There were walls and doors left to be kicked in???

Good luck with it.

these were the new walls/doors put in,

there was fencing supposed to be around the property, but was taken down due to a dispute with hte company, so I was also chasing another 3 companies to put it back up, but as ive found, the construction related people in this area for some reason are all so arrogant and unreliable

 

[Prop_Perspectiv]

Update: had 5 walls kicked in and the 2 doors kicked in over xmas by thugs

not a good start, but not surprising

Oh! Biting my fingernails here, we have a newly moved house
(on temporary footings) in an ordinary area with work resuming end of Jan due to Christmas break. Very nervous about what could have happened over this holiday period

 

[negt]

Ahh good old ex houso pizza hut house, its the stuff dreams are made of.

sucks living in one eh.?

 

[wylie]

sucks living in one eh.?

Would be okay if the pizzas come with it.

 

[SuiCid3]

What would be the cheapest way to cover up?

Blue board and render?
Cladding?