Hi members of SS I am a plumber as you can tell by my title.
I feel I need to introduce myself before I ask my question as this is a small community of like minded people.
My name is Brad and I love old property circa 1920 with city views and also being a land lord.
I have self managed my father’s rather handsome property portfolio since the age of 17 proved a great wealth of knowledge.
I live very frugal save to invest and have come out very successful due to buying shares after the market crashed.
Now next step age 20
Purchase a low end rental property
My finance is fine and the property will be neutral geared or positively gear depending on if I up the rent this is not the problem.
The Problem is it is a build in house to a slope and the landlord has built a bathroom on the lower level and another bedroom.
I know I can remove the rooms or make them to council standards easily but the bathroom is a tear down the drainage is not to my standard.
Now is this property able to be purchased by myself with the non approved rooms.
Or on sold by me at a later date.
I plan to lower them on the price for this so I can obtain my next property sooner.
I just need as much info before I sign anything or make my offer.
Thank you
Brad
I feel I need to introduce myself before I ask my question as this is a small community of like minded people.
My name is Brad and I love old property circa 1920 with city views and also being a land lord.
I have self managed my father’s rather handsome property portfolio since the age of 17 proved a great wealth of knowledge.
I live very frugal save to invest and have come out very successful due to buying shares after the market crashed.
Now next step age 20
Purchase a low end rental property
My finance is fine and the property will be neutral geared or positively gear depending on if I up the rent this is not the problem.
The Problem is it is a build in house to a slope and the landlord has built a bathroom on the lower level and another bedroom.
I know I can remove the rooms or make them to council standards easily but the bathroom is a tear down the drainage is not to my standard.
Now is this property able to be purchased by myself with the non approved rooms.
Or on sold by me at a later date.
I plan to lower them on the price for this so I can obtain my next property sooner.
I just need as much info before I sign anything or make my offer.
Thank you
Brad