Secret Harbour Reno - My first IP

Hi guys,

Haven't posted much on here yet, was a member on Somersoft and jumped over when it closed. Thought id post up some photos of my first IP I completed in May this year.

Backstory: The place was a Mortgagee bank sale, that I picked up through our local real estate agent. It was being used as a drug house before imprisonment of owner and foreclosed on his son that was squatting in the house.
The young bloke was a tagger in the area and crafted his skills on the inside of the house with spray cans and water pistols full of paint after the old man was shipped off to the big house, or so I'm told.

The entire reno, took about 10 months, but was really only doing it on weekends around full time job.

These are a few before photos when I got the property, This was prior to the bank sending in a painter, who did a fantastic job and managed to paint over the top of every single powerpoint and light switch, over the cornice and into door frames.

In order:
1. Main Living Room (Photo from Kitchen)
2. Kitchen
3. Main Dining Room
4. Separate Dining Room (This turned into a theatre room)
5. Ensuite
6. Bedroom 2
7.Kitchen
8. Backyard
9. Backyard

 

Below are the after photos.

Managed to do just about all the work ourselves, beside some tiling in the ensuite, and plumbing.

Even managed to rope @tierney90 in to give me a hand!

In Order:
1. Front Yard
2. Deck
3. Master Bedroom (Reconfigured entry by knocking out previous wardrobe and utilising as bedroom entry, knocking out previous entry and blocking in to fit new wardrobe across wall)
4. Ensuite (complete redo)
5. Kitchen (complete redo, beside pantry)
6 Kitchen again (Opposite wall was originally empty, built in cupboards, and oven/microwave)
7. Family Room, overlooking backyard
8. Patio
9. Backyard




Hope you like what we did with the place
Cam

 

Looks like a new house! Love your internal wall colour, really well painted. What's the name of that taupe/brown colour? Its gorgeous. Love the new kitchen and bathroom too.

 

Thanks Gockie, I have absolutely no idea what the colour is called. But ill have a look at the tin when i get home in a few weeks.
Yep, i was thrilled with the way the ensuite turned out. was definitely the show piece of the house.

 

Awesome job!! You've done really well.
Is the location still a secret or has the court case finished and you can divulge?

How much under market value did you get it for? If you don't mind sharing. Looks like it would have scared off a few potential buyers!

And the all important question... Did you find any drugs or cash behind walls or hidden away??

 

Wow! Looks amazing, and I agree with Gockie, looks like a new house! Great job

 

I had nothing to do with the court case mate, the suburb is called "Secret Harbour" haha. Ended up getting it approx. 80-90K under value, spent 40K getting it to spec and made 40K profit.

First thing i did when i took the keys was grab a ladder and lift all the insulation in the roof and turn the sprinklers on, found nothing but dust
Even looked behind the cavity vents!

 

Nice work, looks great.

What camera are you using ?

 

Dust the party lasted for a week and you got half the work finished

great deal, and good work taking it on. I'msure people told you, you were crazy

 

Wonderful, good work

Are you interested in sharing the numbers, ie purchase price, costs

Will this be your primary residence? Impressed

MTR

 

Nice work cam, looks great.

 

Great work

 

That looks beautiful! Well done!

I must say though, the young kid who sprayed the walls has some talent!

 

Hi MTR,

Cost was $410K
Reno was $40
Revalue was $480-495K

I was able to "Live in it" for 6months to get FHOG, once reno was complete i rented it almost immediately at $450/week.
Initially put a large deposit down so the property is now +ve geared but hindsight should have just kept my cash and taken bigger loan.
Wasnt aware that because it was a "primary residence" for 6 months whilst i "lived" there that i had to take the loan as principle + interest, will meet with mortgage broker again now it is a rental and change over to Interest only.

 

Real estate agent took the photos mate, i just pinched a copy off her.

 

WoW big money incl rent in SH.
Nice job on reno, how many DIY hours did you put in?

 

Agreed, I was pretty surprised when i found what it was going to rent for before i jumped into it. With a pool, i was told ~$650/week+ but that seems very unachievable so i didn't go with the pool.

Too many hours to count. Just about every weekend for the 10 Months. Never totalled it all up, as it was myself, help from the old man and a few mates jumping in every now and again.
Very slow going when only spending 1 or 2 days a week on it!

 

You didn't have too. I hope your broker didn't tell you that!

 

Fantastic effort. The house has come up looking like new. Not too many people would take on a place looking like that.

 

Beautiful reno work @CamG . No doubt a lot of hard work there but it's come up great and I'm sure the neighbours all love you for turning it around.