Just wondering what people would do, there is a property that I can get for land value + a bit extra for a extremely run down house, might cost me $30k to get it back up, needs everything new
its zoned medium density and is located in a good central area, developments nearby are in the pipeline
my plan is to buy, rennovate, extract equity without the development potential
I would eventually either sell it with plans or tear the house down and do units etc. however, im trying to work out, is there any point in spending $30k on a house that im going to tear down in minimum 2-3 years, maximum 5-7 years.
SPending the $30k now would mean I get a decent equity increase from the perspective of a renovated house in a decent area
House is in QLD and we are talking sub $200k price
its zoned medium density and is located in a good central area, developments nearby are in the pipeline
my plan is to buy, rennovate, extract equity without the development potential
I would eventually either sell it with plans or tear the house down and do units etc. however, im trying to work out, is there any point in spending $30k on a house that im going to tear down in minimum 2-3 years, maximum 5-7 years.
SPending the $30k now would mean I get a decent equity increase from the perspective of a renovated house in a decent area
House is in QLD and we are talking sub $200k price
