Operation Cochrane

Hi John,

3 weeks since your last post and 4.5 months since you started on your renovation - how are things progressing?

Any idea when the property will be finished and on the market?

Are you still confident you'll achieve the returns you mentioned earlier in the thread?

All the best,

Jamie.
 
Hey Jamie,
Yes things are still progressing. Am currently organising rendering, driveway, roof restoration, internal doors, shower screen and carport/pergola. Ive been saying that the project will be finished within a month for the last few weeks :D I am still confident that the house will sell at a profit.

Will be uploading photos within the next few weeks.

RJ
 
Ok time for a bit of an update...

Things are still moving along nicely. Certainly not as quickly as Id like, but now that Im back working again Im relatively time poor which is frustrating somewhat to say the least.

As for the house itself...

1. Rendering of the external walls has been organised and will commence mid december. Quote came in at $4,500. Should really give the house some street appeal and hopefully increase sale-ability. At present Im having to clear excess dirt and gardens beds away from the lower sections of the wall to allow for access and application of the render. Stupidly enough garden beds had been positioned almost 300mm in some places up the outside of the house. In many areas covering the breather holes, or whatever theyre called. Not sure. Either way, its been tough going, as the majority of the dirt is quite hard and full of roots. Theres been a few blisters had and lots of water, swearing and sweating. Sounds fun doesnt it?

2. Bathroom is almost completed. Fitment of all fixtures and fittings has taken place, vanity, mirror, bath, taps etc. Having a semi frameless screen installed on Monday which should look fantastic. Then its just a case of touching up marked walls due to tradesmen. Shower screen cost $600

3. All electricals completed. Safety switch in place. All outlets and switches replaced. All tested and A OK. Installation of an additional light in the main bedroom due to poor lighting. Cost $500

4. Plumbing completed. All taps, laundry tub, vanity and kitchen sink plumbing in and tested good. Flick mix taps installed, all bathroom work completed including repositioning of the floor waste and fitment of associated drainage. Cost $700

5. Built in wardrobes installed in bedrooms 1 and 2 They look fantastic. As we have gone with a semi finished panel I will have to paint them. Choice of colour yet to be decided upon. Cost $1200 These wardrobes have really made a difference.

6. Concrete driveway council approval completed. Having the slab poured next week. Should be good once its done. Cost unsure at this point.

7. Roof restoration. Again done mainly for aesthetics and street appeal, however there are concerns about a number of tiles of which obviously need replacing or repair. You can see daylight through the roof in places when you stick your head up in the man hole. Roof to be completely restored and painted charcoal. Scheduled in for 11 Dec weather permitting. Cost $3,300

8. Internal doors and front door to be painted and fitted. Im quietly excited about the front door - were painting it bright red! Should look fantastic, especially once the outside is rendered.

9. All 3 bedrooms carpetd. Not sure on the type of carpet, but its a chocolate brown and looks great. Cost $400.

Thats about it for the moment. Will be sure to take some photos for everyone. Im really enjoying this stage of the renovation. Changes are becoming really noticeable and the end result is not too far away!

RJ
 
wow

9. All 3 bedrooms carpetd. Not sure on the type of carpet, but its a chocolate brown and looks great. Cost $400.
RJ

Hey RJ - wow.
Keep up the good work


Can I ask a bit more about the carpet - where from? Did you use new underlay also or did you re-use the underlay (or carpet) from previously?

That's an amazing price for 3BR. I would love to find more info.
 
Hi RJ,

We finially finished our reno 1 week short of 4 months.;)
Can't stop to relax yet as we have another in toe, but certainly looking forward to viewing yours all completed....sounds like you've 90%+ there!!!

We had a RE call us with a good offer in hand 'one' day after completion.

However our stategy, unlike yours is capitalise on the gain in rent, depreciation and value of the property through buying and holding.

Good luck with the finishing touches
 
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