Renovation Rescue – Day 18

The penultimate day of renovating! Even if I wanted to do more the property is now up on the internet for lease (click here to see the listing) and the clock is loudly ticking.

Today was a mad rush of trying to finish off the many small tasks that remain to be able to say that the property is truly finished. This morning was time to complete the tiles by putting silicone around the edges and where they join the bench tops. If I thought the grout was messy yesterday, the silicone today was even worse. Mainly because the stuff sticks to everything and it’s a real challenge to get a nice clean edge. Several cloths were well and truly ruined in this process and tonight I’m sitting here still finding silicone (of course in the “Havana’ shade) over my arms and hands. It did finish off the tiles nicely though and the kitchen is now largely complete.

Other tasks today included finishing off the front garden, completing the wooden tiling in the veranda which I’m thrilled with, finishing some painting in the bathroom and installing a blind above the toilet. If a tenant was to move in tomorrow I wouldn’t expect any complaints from them but I’m aiming to squeeze in the very final day this coming weekend and then walk out the door and hand over the keys knowing it’s completed to the standard that I’ve been aiming for.

Today I also had a visit from Jamie my property manager to complete the photos for the internet listing which is now up (a whopping 14 views so far) and I’m looking forward to seeing how this goes. I also had a visit from another agent to complete an appraisal on the property and the value today came in at a very different value to that which I got yesterday. This really is highlighting the importance of getting a variety of opinions as just between two appraisals so far there is around a 20% difference. I must say I think I know which one is more realistic. I’ll talk more about values next week when a few more figures are available.

In the meantime check out the listing and keep your fingers crossed that tenants come flocking in!

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Queensland luxury for $25,000,000

It’s been a while since I’ve posted an ‘in your dreams’ property and a lot of those in the past have been from the USA. It’s great to find a good local one and this one hits just the right spot. Located a stone’s throw from the Great Barrier Reef in Airlie Beach you’ll find the amazing Mandalay House and it can be all yours for just $25 million AUD. What do I get for my hard earned millions I hear you say? Well once you fly in to your private heli-pad or sail in to your own personal marina with space for a 24m yacht as well as your 2 jet skis you can casually stroll up you your 2629 sqm (over 28,000 sq feet!) luxury home. Even before you get inside you will have passed your massive pool, huge outdoor entertaining areas, caretakers cottage and personal water desalination plant (some would say the desal plant is excessive but you can’t go washing your diamonds in salt water). Once inside you have the choice of 6 king size bedrooms (the master bedroom covers 144 sqm with lounge room & separate 52 sqm walk in dressing room) , 9 bathrooms, cinema, gymnasium and pool room, a climate controlled cellar with dining space for 12, your own internal elevator and car parking for 6 or your luxury cars if you didn’t get the helicopter here. Top all of this off with breathtaking views out over the Whitsundays and you’ll be rushing off to get your checkbook from the glove box of the Aston Martin. Still not convinced? Just check out the marketing video below…butterflies appear to be included with the price.

The Top Mistakes made by new Property Investors

Some wise words on things to consider when taking the first step on the property investment ladder!

truemelbourne.com.au

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So what do you think the top mistakes are that the newbie property investor makes? Buying the wrong property? Choosing bad tenants?  Well lets see:

 1 – Not pulling the trigger

You keep finding excuses not to buy. The market isn’t right, you don’t have time to devote to searching for the right property, you are worried about making mistakes. Well, there is never a good time, and you will make the odd mistake or two. So don’t panic and just go for it.

2 – You get what you pay for

Buy cheap, get cheap. So you need to go for a well maintained solid property. You don’t have to buy the top of the line properties, but you have to buy a property that isn’t going to kill you on the maintenance costs either.

 3 – It’s not all about rent

A positively geared property is a great…

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An agent with bling!

Thanks to everyone who is sending me ideas and great pieces for the blog. My wonderful sister who also loves a bit of property investment herself sent me this great advertisement for a property currently for sale in South Australia. I’ve heard people comment about getting their money’s worth out of their estate agent and the vendors of this house have done particularly well with theirs. I can’t envisage a lot of agents out their singing and dancing (even if pretty badly) to sell a property but good luck to him, it’s certainly unique!

Hooked on Houses!

One thing that I’m always on the lookout for are great websites that delve into property in a variety of ways, be it investment, buying and selling, design, celebrity homes and the weird and wonderful. One website that I was recently alerted to by a friend is Hooked on Houses which is the brainchild of Julia from Ohio. It contains a great range of topics and information from renovation before and after, to houses featured in movies and TV. One of the posts that has really made me laugh relates to the interesting world of property listing photos.

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From investigating Ways Dead Animals Can Kill a Real Estate Listing (above) to the more subtle Unusual Things Found in the Real Estate Listings (as seen below…yes there is a couch in there somewhere) it’s an eye-popping exploration behind the curtains of other people’s homes.

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I’d also recommend having a look at the before and after page if you’re after some inspiration for your own projects! Thanks to Julia for her great website.