NSW What do you guys think of this unit in kingswood 2747 for renovation and sale

Discussion in 'Property Analysis' started by Sigemup, 5th Apr, 2019.

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  1. Trainee

    Trainee Well-Known Member

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    That guy started in 2007. Small difference in the sydney market. Probably didnt really work out until a few years after that. If he had done it in perth? Or sydney in 2002? If you dont understand that read some more. Save questions for stuff that you cant find from just reading.

    People on here dont share to get paid. Or for appreciation. They do it because they want to help people make better decisions. If you dont end up doing anything the appreciation is empty.
     
    Trainee, 6th Apr, 2019
    #21
  2. wylie

    wylie Moderator Staff Member

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    I don't know if you would be buying something to flip quickly but if you've not renovated before, I would think buying something to live in gives you the opportunity to not have to factor in holding costs of an empty house whilst you manage the renovation.
     
    wylie, 6th Apr, 2019
    #22
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  3. datto

    datto Well-Known Member

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    It's got no LUG But its a massive block of land. It looks like 2 buildings on the block.

    The inside looks bad. Being ground floor I wonder how many times the sewer has back flowed as that floor looks warped.

    I wouldn't waste my time with it....... Just saying that coz I want it !! Nah just joking. The unit upstairs is also for sale and has a LUG and a large balcony with nice views. I'd prefer that for investment as it doesn't need any work by the looks of it.

    Imagine buying the unit, busting your guts renovating it and then property prices just keep plummeting ? You'd walk up and down The Great Western Highway giving yourself uppercuts till you reach Nepean Hospital.

    BTW price is not 190K .....yet lol.
     
    datto, 6th Apr, 2019
    #23
  4. Rose89

    Rose89 Well-Known Member

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    I know this area well,
    Some parts of Kingswood are rough and this is in that zone! It on a major roadway and if you spend time at the shops on that road you will see some interesting things. Is it a bargain, probably not. Will you make money flipping, doubt it. There are also new apartments going up everywhere around there including 2x large apartment blocks within couple hundred meters of this unit that are reducing prices as they haven’t been able to sell them all. Positive are it’s close to the railway and hospital. The prices have taken a hit and have come down from what they were so I not sure how demand is at the moment for these type of apartment in the area.

    Maybe a long term investment, but doubt you would make more than few thousand flipping it.

    Cheers
     
    Rose89, 7th Apr, 2019
    #24
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