I’m talking about the property that
presents with ideal development potential in order to realise a beneficial
return.
In order to recognise a ‘renovator’s
delight’, you need first to determine what type of profit it might deliver.
Ideally, you should aim to achieve $2
in added value for every $1 spent on cosmetic improvements.
Obviously, you don’t want to
overcapitalise by paying too much for the dwelling before you even get cracking
on the renos, so it’s critical to know the location and get a good handle on
comparable values.
Consulting local real estate agents to
find out what buyers and tenants expect from property in the area is advisable,
in order to determine if the investment you’re considering will deliver a
profit.
RealRenta has all the tools that a
property manager has but for less than ¼ the cost of a property manager.
You can now manage
your Residential, Commercial or share/student accommodation property
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
Friday, 19 April 2024
