Raymond Terrace Reno
- Thread starter Coconutwheels
- Start date
Purchase price $144,000, closing costs $6,400, Reno costs still waiting on a couple of invoices to come but should be about $13,000, travel expenses, flights, food etc about $2000
So $166,000 total, expected rent $285/week. Bank val completed today at $190,000.
Questions or comments...fire away.
So $166,000 total, expected rent $285/week. Bank val completed today at $190,000.
Questions or comments...fire away.
It took three weeks, I'm very lucky in that I had my father there the whole time and a carpenter that does some work for him from time to time. I flew down for 9 days and we had another carpenter for 2 1/2 days to help with the bathroom.
Hiya Coconut Wheels
Glad to see it turned out well; my figures in Raymond Terrace are very similar too
Did you go with Debbie Bates for PM in the end?
Thanks Virgo, I ended up just using LJ Hooker. I'd been using them as a contact for access with the keys etc, they also came up at different stages of the reno and gave some good advice/suggestions. I met the principal, who runs the pm side and a couple of the managers who seemed ok. So I thought I'd give them a go.
Looks great, must feel good to finish, im actually doing one around the corner and almost done, has taken me 2 months but only working on the weekends (still working fulltime mon-fri)
Can I ask what the land size is and how many bedrooms? will be revaluing mine soon so trying to guestimate the figure based on yours...
Can I ask what the land size is and how many bedrooms? will be revaluing mine soon so trying to guestimate the figure based on yours...
659m2 3bedroom fairly small living area and kitchen. Did you buy yours in the same batch that mine was sold?
No just before the auctions yours was in was listed actually. Mine is in the DOH area but was a private sale. 166k partially reno'd and 4 bedder. at 140k yours is better value but I bought what I did since it worked well with my situation- didn't have the time or money for something in that condition. Its in Roslyn st.
Good to see the jump in price from one lot of auctions to the next- 181k I think one sold for the other week!
Thanks! Just in the process of working out how much to allocate to different items for the depreciation report.
I had originally planned to get it in under $10k but blew out on a few things I hadn't factored in like:
Floor sanding $1950
Aircon $850
Stove $500
Wardrobe $300
There is about about $4500 in labour costs
The kitchen was a flat pack from bunnings and was $1400 inc sink etc.
Bathroom was fairly cheap, it really could have been gutted but we didn't. Materials about $900-$1000.
Cheers,
Ben
