You can't make money in Western Sydney.

I've tried previously. Hubby doesn't want to.

 

Nice job @skater and hope you're well

 

Thankyou, and yes, doing well. I hope to see you at the meetup on Wednesday.

 

I think the key here is buying at the right price, brilliant.. Remember stamp duty is a killer, yet they killed it

But in a. Down turn market harder to sell

So @skater who are your buyers?

Did interest cuts do it??

Anyways great outcome.. brilliant

 

It was bought by an investor. I don't think the interest cuts did a lot. They had only just gone through when it sold. If we'd held on a few weeks we would have done much better. The house next door is for sale at the moment and is only a 3 bedder & they are asking more, and seem to be getting a fair amount of interest.

 

A bit of a knock on effect, when all of the houses in the area look like cr@p, it keeps the demographic but if it starts getting a few refurbs, new builds, owner occupiers and new residents/tenants ie 'perceived gentrification', then it will attract more attention even when the adjoining streets still look sketchy.

Perception is important to out of area buyers however if the due diligence isn't spot on ie Department of housing has just rebuilt/refurbed it's stock in the street, they could still be buying lemons at a premium.

You know the area so have quantified the risks.

 

This is true, however buyer activity has ramped up a little since we put it on the market.

 

We'll done! I was wondering how you were going with that one. Your hard work certainly paid off.
We should do a joint one. We love a good reno, as you know. Getting a bit old for the back breaking work though.

 

Haha, there was very little back breaking work in that. Mostly painting.