Hi Mob , l'm new here and l have an idea for an IP l want , l'd like to know what you think and would it be doable .
The one owner has two houses side by side up for sale. Either as two or individually . They are a bargain and with high rent demand and as two , open the chance for a bulk offer on the two combined saving more .
l had been eyeing the first house off since before christmas and l would still love to get it but my financing situation is complicated this year.
l'm thinking .
What if l got someone to buy the two and they then finance the one l want - back to me for no money down and at good rates but - in exchange l will do a basic reno [ labour that is ] on theirs for say close to free , perhaps say the equivalant of 10% deposit [$11,000] deducted only , off the the house in the two that l want but apart from that being side by side, l will do there's along with mine .
l love doing this stuff and have done 3 houses already , so especially being side by side the way they are it wouldn't bother me at all and with both these houses even a basic tidy up would comfortably add 30 % value each , bigger reno would be a comfortable 70-100% going on prices of similar in the area.
Both would be very close to cash positive especially with a clean up and good finance now but - there is also a future gasworks due to begin within a year or so about 20 k away.
You have probably seen what projects like that do to house and rental demand.
What do ya think. The houses are in a thriving regional Vic area .
Cheers
Blaster
The one owner has two houses side by side up for sale. Either as two or individually . They are a bargain and with high rent demand and as two , open the chance for a bulk offer on the two combined saving more .
l had been eyeing the first house off since before christmas and l would still love to get it but my financing situation is complicated this year.
l'm thinking .
What if l got someone to buy the two and they then finance the one l want - back to me for no money down and at good rates but - in exchange l will do a basic reno [ labour that is ] on theirs for say close to free , perhaps say the equivalant of 10% deposit [$11,000] deducted only , off the the house in the two that l want but apart from that being side by side, l will do there's along with mine .
l love doing this stuff and have done 3 houses already , so especially being side by side the way they are it wouldn't bother me at all and with both these houses even a basic tidy up would comfortably add 30 % value each , bigger reno would be a comfortable 70-100% going on prices of similar in the area.
Both would be very close to cash positive especially with a clean up and good finance now but - there is also a future gasworks due to begin within a year or so about 20 k away.
You have probably seen what projects like that do to house and rental demand.
What do ya think. The houses are in a thriving regional Vic area .
Cheers
Blaster
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