澳洲Australia property Nathans newest renovation property hunter


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


So this is a new year, and it involves doing new things.

I am about to renovate this house


http://www.facebook.com/album.php?aid=270934&id=820929172&l=8e74a01177

I paid $105,000 for it and it will be totally rebuilt by MYSELF and help from my labourer. Once it has had $30,000 spent on reno, and furniture it will rent for $400 as furnished property to the miners. It will be worth $250,000 - $270,000 once complete.

I will be tracking some stuff on here but also be video recording the whole process as I will be sleeping in a tent within the house and making a start to finish renovation DVD series.

Now that I have free'd my diary up over the coming months I can get down and dirty on the real hardcore investing stuff and take it to a different level.

Will keep an update of procress.  

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Power to you mate.

If you ever need to hire another labourer on the weekend, I'm pretty sure I live near you and have worked as a builders labourer for around 2-3 years.  

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Really?

I had a young labourer which was going to help me thursday - sunday but couldnt make it.

If you are local come by :)

I think I may end up feeling like Tom Hanks on Castaway by the end of 30 days.  

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Good luck Nathan,

I just went to an auction 3 houses down from the duplex I'm renovating at the moment, passed in, they want 270k for it, could easy turn it in two 3x1 if the council will play ball and rent with full reno would easy $650-700 p/w.....

Arrghhh if only I had the funds right now!!!!

Could get close to 10% yield on that if all went to plan....

Maybe in 6 more months I can jump into my forth IP, depending on val of my reno'ed duplex.....

I'm over these crap yields, need to start getting/ finding these deals where you can make cash pos from close to day dot....

If you don't mind sharing Nathan, where do you source most of your properties from??  

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burty85 said: ↑
Good luck Nathan,

I just went to an auction 3 houses down from the duplex I'm renovating at the moment, passed in, they want 270k for it, could easy turn it in two 3x1 if the council will play ball and rent with full reno would easy $650-700 p/w.....

Arrghhh if only I had the funds right now!!!!

Could get close to 10% yield on that if all went to plan....

Maybe in 6 more months I can jump into my forth IP, depending on val of my reno'ed duplex.....

I'm over these crap yields, need to start getting/ finding these deals where you can make cash pos from close to day dot....

If you don't mind sharing Nathan, where do you source most of your properties from??Click to expand...
Have you thought about heading into commercial? only problem is the high buy in costs (30% deposit). But with 4 IP's hopefully equity can help you out sooner rather than later.  

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Looks great Nathan.

If I get reno withdrawals I might call up one weekend.:D:D Looks like a lot of fun to be had.

Finish mine this weekend.:p:p  

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Hi Lynne,

Yep fun to be had, or tears. :)

I dropped a cedar 8m plank of timber off the roof onto my foot today, I cant walk, but isnt stopping me. It will come in on track.  

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Nathan, i'm a new poster and truly impressed!

I think this has been asked before but...

WHERE DO YOU FIND THESE PROPERTIES?!

I'm looking to buy my first IP (already have a PPOR) and can't find anything that comes even close to what you seem to find.... :)  

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If I were Nathan I wouldn't be telling ya mate. It's called hard work. Simple really. get out there slugger and give it a go  

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All good.

Its taken around one decade to get relationships, networks, and knowledge of whats a good deal. I get calls from agents before things hit market now days.

I will be updating my websites in the next months, keep an eye out and there will be all different education stuff there and resources to help in doing such.

Hope this helps.

The deals are there, i can get 50 a week, it all comes down to funding them all, and making them happen. Just need to keep at it till you make one happen.  

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Good for you Nathan. I can see this is really your fulltime position now- renovating! Have fun and think of all the exercise you're getting in by working so hard onsite. No need for gym memberships - maybe just a little physio for that foot!

I'm a fan of the Hunter Valley myself and have a little RE up that way- good target market too- those miners. Just remember to put in a big HD TV for them as they like their sports! Hope it all works out as I'm sure it will. :)  

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Jacque said: ↑
Good for you Nathan. I can see this is really your fulltime position now- renovating! Have fun and think of all the exercise you're getting in by working so hard onsite. No need for gym memberships - maybe just a little physio for that foot!

I'm a fan of the Hunter Valley myself and have a little RE up that way- good target market too- those miners. Just remember to put in a big HD TV for them as they like their sports! Hope it all works out as I'm sure it will. :)Click to expand...
Thanks Jacque,

Nah more of focus of the motive behind the renovations and the education side of thing, but I do the work of this one to show everyone it can be done even from someone who is pretty boy like me.

Its a good spot, I got a big LCD scroon sitting in the back of the van ready to go in once there are walls back up :)

Its alright area, wouldnt like to spend more than my 30 days I have commited myself to here.  

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Nathan doesn't find deals. Deals find Nathan. Haha, it's like those Chuck Norris truisms. :cool:  

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Looks like fun,
It seems like it has got a lot of excess mould through out :confused:,
Will you be ripping all the masonite out and replacing it with gyprock?

It will come up a treat ;)  

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Yeh its because its a flat roof and the water is pooling. The roof is fine, however the piers fell and the water draws back towards the front....

The house will be packed up with hebel blocks and roll back how it use to...  

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http://www.youtube.com/watch?v=iVqxPFFt8qw  

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Nathan
Keep up the good work mate
See you soon  

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Thanks BV.

Yep catch up soon mate.  

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You are a brave man to stay on site in that.  

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LoL

The video is of a pub room, I was going to stay in the house but its sticks, and demo'd and its almost 50 degrees.

I have gone to a decent motel now, and yet to keep reno under budget I will still even charge the accomodation into the $30,000 aswell.  

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