Latest QLD Buy (in progress) - Some thank yous

15 minutes to the city from Underwood????
Who told you that?
Marg

 

Google map on off peak hour - on that particular property

 

Hiya,

I thought I should give a quick update.

Deal in Underwood fell through due to some issues that would have costed my upward to 40K (thanks @Beanie Girl for pointing it out!).

On the positive side, I have another property on the original suburb and now unconditional (hoorahh!!) A low set brick house in cul-de-sac and walking distance to shops.

If there is anything I learn from this

• Listen to those who are more experienced than you. The first deal would have been terrible if I didn't listen, especially after Beanie persistently told me to check. In the end it costed me about $1000 to pull out, but that's better than $40K!
• Move forward despite the setback and fear. The close call on the Underwood place makes me really scared and wary on the next one. So check, double check, do whatever you need to manage your fear, but move forwards, don't get stuck there.

 

Well said! and congrats!!

 

You have piqued my interest as to what was wrong with the property - was it something that came up in the B&P?

 

B&P for the actual house is actually terrific. Except one line item that said retaining wall is in poor condition. I didn't think that this would be an issue initially - how expensive a wall can be? Well. 1.5 m tall retaining wall across 30m. It gets pretty darn expensive and structural engineer said it's pretty much no longer safe need to be replaced. Managed to get out in the nick of time but damn that is pretty scary

 

Lucky escape!
It's things like that that has me so worried taking that first step into the world of IPs but it shows if you have right systems in place, most 'issues' can be avoided!