Well my intent was to buy a unit in a small group ie 4-6 units and do a quick reno.....
But as I was looking for a unit, I came across one title of a duplex for sale. It was what I was looking for, needed a reno to bring it up to scratch for revalauiton and increase rental potential, after questioning the real estate agent on a few things, I found out that the vendor owned both titles, so I put in an offer to buy both titles with a 4 month delayed settlement on the 2nd title. The deposit for the 2nd title is what was meant to be my reno funds.
So to fund this reno, I have to go pay check to pay check, so 4 months on and it just seems that it will never end, I know that I have got a good investment in the long run, plus owning a duplex I have full control,
I am starting on the street appeal, so far I have removed two of the largest tress plus a few smaller ones at a cost of $1800. Have removed by hand 5 X 4m3 skips on concrete ( There was no garden or grass ) at a cost of approx $800 including a jack hammer and concrete saw ( haha you need no gym member ship after moving that much concrete ).... Also have got 4 X split system a/c for the bedrooms at a total cost of $355 each after cash back offer, just waiting on install. Next is getting in a landscaper to level, top soil and turf where the old concrete was...
It just seems that this will take forever, plus with my job I always seem to be working away at least for 2 weeks every month, then I have my daughter on weekends, I just cant see any light at the end of the tunnel....
The duplex is on the same street as a small shopping centre with a Foodworks, Newsagents, Book shop, Bottle O, Hair dressers, bakery, Ice skating ring and cinemas just 100m walk.
But as I was looking for a unit, I came across one title of a duplex for sale. It was what I was looking for, needed a reno to bring it up to scratch for revalauiton and increase rental potential, after questioning the real estate agent on a few things, I found out that the vendor owned both titles, so I put in an offer to buy both titles with a 4 month delayed settlement on the 2nd title. The deposit for the 2nd title is what was meant to be my reno funds.
So to fund this reno, I have to go pay check to pay check, so 4 months on and it just seems that it will never end, I know that I have got a good investment in the long run, plus owning a duplex I have full control,
I am starting on the street appeal, so far I have removed two of the largest tress plus a few smaller ones at a cost of $1800. Have removed by hand 5 X 4m3 skips on concrete ( There was no garden or grass ) at a cost of approx $800 including a jack hammer and concrete saw ( haha you need no gym member ship after moving that much concrete ).... Also have got 4 X split system a/c for the bedrooms at a total cost of $355 each after cash back offer, just waiting on install. Next is getting in a landscaper to level, top soil and turf where the old concrete was...
It just seems that this will take forever, plus with my job I always seem to be working away at least for 2 weeks every month, then I have my daughter on weekends, I just cant see any light at the end of the tunnel....
The duplex is on the same street as a small shopping centre with a Foodworks, Newsagents, Book shop, Bottle O, Hair dressers, bakery, Ice skating ring and cinemas just 100m walk.