Property - Next steps

A review of the unfinished projects meant I had no time to sit around, after Al died, I had to get stuck in and start taking action, as every week that went by was lost money.

We had a vacant house in Watsonia that I had said I would paint, while Al retiled the bathroom. So the situation was that we had bare walls in the bathroom, but had bought the tiles, so I got a tiler immediately and got them laid and they look great. I then got stuck in and painted the 3 bedrooms, lounge, kitchen, bathroom and laundry, and put some paving paint on the back steps.

It was a good distraction. There was a lot of anger went into painting those walls!!

Having received a few phone calls late at night from tenants in the other places re dripping taps etc., I decided to bite the bullet and hand over all the Vic properties to a local agent, including the Watsonia one. So far so good, I appear to have been fortunate in finding a good property manager. Watsonia house appears to be let already to a tenant with good refs.

The other problem was that our first house was in urgent need of a major renovation, we had moved the tenant into one of our other places, as she was such a good tenant and we had started to pull the house apart ready to get the builder in to lift the house and put a new concrete floor in.

Consequently, I had to work out which was the best way to go, so went through it with a local agent, whether to renovate, develop, etc and we decided that for me the best way was to sell it as is and thats what I am doing - it is for tender for 4 weeks. We already have some builders interested:

http://www.realestate.com.au/cgi-bi...0&p=10&t=res&ty=&snf=rbs&ag=&cu=&fmt=&header=

I have been there for days cutting grass, painting walls, putting cupboards and wardrobes back together.

I have never been so tired!! but then I don't have to think, so its been good therapy.

I will let you know how I go

Chris
 
Hi Chris.

Good luck with it all. You certainly have your hands full at the moment, but as you stated, that's probably a good thing.
Definately keep us all informed of the progress.

Regards
Marty
 
i remember mum saying, after dad died, that she had a list of jobs that needed doing around the house, had been undone for years and every time she bought them up he would mutter mutter. after the funeral and she was thinking clearly she got in an odd jobs man to go thru her list. he had everything done in three days :p it is nice to have something like that to be able to chuckle over ...
 
Sold

An Update on how the sale of the house went

The agent handled the advertising very well. We had it advertised as being for tender but were so overwhelmed by the response that the agent recommended going to auction, which is what we did, last Saturday (18th). The website received over 1100 hits and we had over 280 people through to view.

The day of the auction was nerve-wracking, my son came to be with me. Remember this was the first house that Alan and I built when we were 21 and the house my son grew up in. So a very emotional day.

A large crowd arrived but they all dropped off at $300,000 leaving 2 bidders and we arrived at $315,000 very slowly. This was the reserve.

The buyer is pulling down the house to replace it with a new one, so the $315,000 is for the block of land. We paid 1065 pounds in 1963 for it.

I am glad it is over. Now all I have to do is maintain the property and cut the grass until settlement then put it behind me.

I am selling the two cheapest units in Cairns and combining all the funds to fund a purchase returning a higher yield. In the meantime I will invest the money and look around.

Thanks everyone for your interest

Regards

Chris
 
Hi Chris.

Well done on the sale.

Obviously an emotionally charged time for you.

Fantastic to see you are continuing to move on in such a positive way after everything you have been through.

Regards
Marty
 
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