Repainting inside of a Townhouse

Received a quote today from our PM of $3000 to repaint the inside of our townhouse. The townhouse is approximately 10-12 squares, double story, 2 bedrooms, powder room, walk in robes in both rooms, bathroom, toilet, laundry, kitchen, lounge/dining. The stairwell is rather high as well.

Based on people's experience, does this quote sound realistic/reasonable? It includes painting ceilings, walls, cornices etc. There is exposed brick in the lounge/dining and bedrooms which would not be painted over.

Would appreciate people's thoughts.

Regards Jason.
 
Sounds reasonable to me..

$3000 of OPM x 7% = $210 p/a or $4 per week

It will definitely increase your value & yield.

I dont know about you but IMHO its an excellent example of value adding.

Hope this helps.
 
Sounds reasonable to me..

$3000 of OPM x 7% = $210 p/a or $4 per week

It will definitely increase your value & yield.

I dont know about you but IMHO its an excellent example of value adding.

Hope this helps.

Thanks Rixter,

Put that way, it sounds very worthwhile! :D

Regards Jason.
 
Just curious, can you explain the equation you have there?

What does OPM stand for and where did you get the 7% from?

Cheers,
Andrew
 
Received a quote today from our PM of $3000 to repaint the inside of our townhouse. .

Do you live locally so that you can get some of your own quotes? This may be abetter way for you to find out if the quote, as supplied by your PM, is value for money.

Peronally, i would double check or even triple check any figures the PM may give you. For all you know, the PM's cousin could've submitted that quote.

Get a couple more quotes and organise them yourself. It's your property so don't let the PM "control" the work done on it.


Thanks

g
 
Just curious, can you explain the equation you have there?

What does OPM stand for and where did you get the 7% from?

Andrew, OPM is Other Peoples Money (borrowed). 7% is the cost to you (interest) to use OPM.

Using OPM for investment/business is more cost effective than using your own.

Hope this helps.
 
Get a couple more quotes and organise them yourself.

I prefer to leverage my time by working on my portfolio as opposed to in it.

In other words working at a macro level, not at a micro level.

As such I employ PM's to look after the day to day operations of individual properties within my portfolio, which frees up my time to oversee the portfolio management as a whole and do more of the things I want to do instead of the things I have to do.

The last thing I want is to become a slave to the portfolio I have built. To me it defeats the purpose of why I decided to build a portfolio in the first instance.

Hope this provides another perspective.
 
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