Saw Nathan's article in API this afternoon; impressive combined energy and outcome; purhasing a cheapie in Muswellbrook (small regional NSW mining town; Terry Ryder recommends this area for future growth; as a result of Terry's recommendation my partner and I checked out the town Dec 2010 during Christmas break noticing a tight rental market with local caravan parks full of miners and high visibility shirts everywhere!); impressive Nathan - essentially spending a month in town on a $30k budget renovating a run down two bedder purchased at $105K on a with potential for a second property that may be able to be built on the block at a later date currently returning $380 per week in rent with an equity gain of $121,780K based on your assertion of a $260K post reno valuation. Good to see that it is possible to combine cash flow with CG. My partner and I have essentially bought properties for strong CG but are now exploring cash flow opportunities to balance our portfolio. This story offers a positive insight into what can work.
Congratulations Nathan.
Congratulations Nathan.
