If your
child were to purchase something that needs a little cosmetic work, they can
add value and increase their equity, putting them in good stead to continue
climbing onwards and upwards and potentially invest in further properties for
their future retirement fund.
This
requires a bit of vision and a willingness to do some manual labour but is a
worthwhile strategy for first homebuyers to adopt.
Aside from
the economic gains to be made in acquiring a fixer-upper, there’s also less
chance they will pay a premium for the high spec finish achieved by the
previous vendors.
You’re far
better off paying less at the point of purchase and having to put in some elbow
grease than paying for someone else’s hard work.
RealRenta has all the tools that a property manager hasbut 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
Wednesday, 27 September 2023