So after quite an absence from the blog I’m making a return in a big way for the next few weeks. The last month or two has been busy with the purchase of another property which is ripe for a cosmetic renovation. The one bedroom unit is very basic but has not been lived in for a number of years. Financially it was a great buy and ticks all of the boxes as a promising investment with potentially a good return from rental income as well as being able to manufacture some capital growth with a make-over. I’ll leave the numbers until we’ve completed the renovation and hopefully you’ll see that it’s been worth the effort.
The property is situated within walking distance to supermarkets, pharmacies and take-away food shops as well as very good schools and public transport. It’s situated in a small complex with 3 other units which are well maintained and also have long-term tenants in place. With a bit of hard work I’m confident that this property will scrub up well and prove itself to be a great home. Whilst many investors like to be ‘hands off’ and couldn’t think of anything worse than having to get in and do work themselves (and that’s perfectly ok), I’m really excited about this project as I enjoy seeing what can be achieved with not much money but a good amount of effort!
Let’s take a look through the property at settlement.
Tune in tomorrow to see what happens when my green thumb get’s a bit out of control!