This is the learning fee that you must pay when you realise that renovations are hard work and not as easy as reality TV shows or property blogs would suggest.
Perhaps you bought a property that needs a significant renovation
in the order of 10 percent of its purchase price.
But then everything ended up costing more than you expected and the
project ran over time, which increased your holding costs substantially.
So you ended up sinking about 20 percent of the purchase price into the
renovation and landed in the over-capitalisation territory.
This learning fee could easily cost you tens and tens of thousands of
dollars as well as a waiting period of many years as you wait for the market to
improve enough to get your money back.
RealRenta has all the
tools that a property manager has but for less than ¼ the cost of a
property manager.
Join now and the cost
is less than a cup of coffee a week to manage your rental property
RealRenta also has a
free vision, so why not check it out
Jason Gwerder
Thursday, 22 September 2022
