Property Review Video – August 2023
Stay up to date with the latest developments in the property market over the past month. Our video takes you through an overview of the state of...
Buy a run-down property in a desirable location. Invest money into fixing it up. Then, profit from the investment, through higher rents and capital growth.
This will work wherever you have pricing disparity.
Look at the average price of a renovated house versus the average price of an unrenovated house in the location, this is pricing disparity.
The key is that these houses share the same attributes beyond the renovation. You’re looking for a big gap between the prices.
When pricing disparity doesn’t exist, there’s a risk of renovating and not adding any value, at least in the short term. For instance a $30,000 renovation just adds $30,000 in value. Your aim is to make $2 for every $1 you spend and for that you need pricing disparity.
Researching price disparity is so important if you aim to renovate it. This is the ‘Supersize it’ segment of our First Home Financial Freedom Framework.
Investors Choice Mortgages can help you decipher the data and help you with finance and tools and resources to suit your strategy. Feel free to book a time to talk with one of our mortgage broker experts https://investorschoice.com.au/bookatime
Stay up to date with the latest developments in the property market over the past month. Our video takes you through an overview of the state of...
During the cooler months of the year it’s easy to get into ‘hibernation habits’. Comfort food is much more appealing when it’s awful...