Hi guys, Joey from Newcastle. I've been reading the somersoft threads for a while now and when I thought its finally time to join and add to conversations I found out it has been shut down!, so here I am. Anyhow I have had a lot to do in the building industry in most parts of NSW and the NT. I have one IP in Newcastle and am looking at getting into developments and or renos when the opportunity presents itself. Look forward to chatting with you all Cheers Joey
Gday @Joey Diesel you might want to reno this property http://www.domain.com.au/for-sale/30-swan-street-hamilton-nsw-2303-2012296524?sp=3
Yeah that sure looks like a good fixer. I would be interested in looking at that one. I would like to see what it gets. looks like it has been abandoned since 1930
Hi joey Are you back on the gear now that you've stopped playing footy? Good idea changing your last name for anonymity Whats your joey? Everyone in Newy has one don't they?
You got it Bob, Im back on it even more than ever, I need to make some serious cash to support myself, I thought property would be the go.
Well Larry, by going off those pictures if you where to reno it you would want to do it justice, all the way or no way. Thats where the real value would be come sale time - Of course thats if flipping the property is your strategy. Tidy it up and put tennants in: Well there would be a heck of tiding up, New floor coverings, Kitchen, Bathroom, Laundry, New Doors, etc.., basically everything you can see. Then there is the hidden things like roof repair/replace, Ceiling repair or replace, Electrical Replace,Plumbing I bet by looking at those pictures there would be timber rot - which invites white ants, going off the age the foundations would need a good look at too. + Clean up the backyard. Like I said big job I would have a guess and budget around 100K depending on how much you do yourself. If you had a purchase price around 300k + 100k Reno you would get around $450 - 500p.w Rent and completed value around the 600k mark. (These are very loose figures with out actually seeing the property) My opinion, you would buy this place if you where a builder with plenty of time on your hands and loved these type of houses, loved the area, and wanted to move in to live yourself. Other than that I would be purchasing it for land value only.
I was hoping to go for a sticky beak, but this weekend is inundated with kids birthday parties. I'll still try to get there - should be a good spectacle! (plus, its not far from The Blind Monk, and I'll take any excuse!) Cheers, Inertia.
I will be having a sticky beak, I had a look at it on the first opening week. There was a lot of interest. It was amusing seeing peoples excited faces entering the property and there shocked faces leaving after the inside inspection. As I said before, you would only be buying this place for land value. IMO anything over $300k is too much
