Real Estate Shopping Spree
Posted: under Uncategorized.
Tags: Real Estate
My partner (Jackie) and I were out for a drive a few weekends ago and for some reason or other we went on a detour. We saw a for sale sign on a property, we rang the real estate agent but the details didn’t get us excited, so we carried on and found another. This one was more interesting and the agent was not far from the property so he met us there. The place was filthy - basically you had to wade through rat droppings and the amount of mould the walls and windows had accumulated was impressive - this is the kind of property Jackie & I get excited about (we’re investors, what can I say).
We put in an offer of $191k (it was on the market for $235k [overpriced] & the GV was $265), however it transpired that other people were putting in offers so we upped ours to $201k and we ended up getting it.
There is a bit of work to be done to the property and we’ll probably end up spending about $15k on it make it habitable. We’ve already cleaned it, started painting, cleared the section, replaced the window sills and the plumber is in the process of ripping out the old plumbing and replacing it - hopefully it will be ready for rent in a couple of weeks.
Since buying this one, we’ve purchased 3 more (although we don’t “own” these as yet) - it’s been a busy couple of weeks. I don’t think we’ll be buying anything else for awhile.
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Apr 20 2009
. To save the file you might need to right click on the link and select Save As. I designed these templates using Corel Draw (it came free with my now dead scanner) in 1998.