Hi all
After having my offer accepted on one of the properties, I rechecked a number of things including going back for a 2nd inspection. On closer look, it was obvious to me that I would need to spend a bit of money on it so I have retracted my offer and am leaning towards the other site which is a possible 6 unit site. It's a bigger chunk than I'v been used to but I'm ready to have a go!
A few more checks with council and then a 2nd inspection this weekend and I'll be ready to make an offer. Wish me luck! In the meantime check out my forst foray into the world of Youtube - http://www.youtube.com/watch?v=WQQkkAlc4Dg
Cheers
Fran
Tuesday, April 14, 2009
Wednesday, April 8, 2009
Hi all
Exciting stuff this week as I found two suitable properties and have made an offer on one of them which has been accepted! I am now doing more homework to make sure that I can proceed with a dual occupancy on the block.
When making an offer on a property, it is a good idea to offer lower than what you want to pay - you can always make a 2nd offer if you get a 'No'. This weeks tip: When you make your first offer try and end it in a 7. ie. Property is on the market at $300,000 so offer $287,000. 7 is the magic # whether you are selling something or buying something. If you get a 'No' on your 1st offer, leave it for a few days and then offer an odd amount such as $291, 470. Let the real estate agent know that you have scraped absolutely every penny together and this is your final offer! In my case, the vendor accepted my first offer.
I have chosen the house design for the 2nd dwelling and have done some more research with council. I will be physically checking the property again this week to take notes on what needs to be done to prepare the property for a quick makeover. As for the other property, it is a viable 6 unit site and after some valuable advice from a propety developer friend, I believe I can make a go of this opportunity as well.
Till next time,
Fran
Exciting stuff this week as I found two suitable properties and have made an offer on one of them which has been accepted! I am now doing more homework to make sure that I can proceed with a dual occupancy on the block.
When making an offer on a property, it is a good idea to offer lower than what you want to pay - you can always make a 2nd offer if you get a 'No'. This weeks tip: When you make your first offer try and end it in a 7. ie. Property is on the market at $300,000 so offer $287,000. 7 is the magic # whether you are selling something or buying something. If you get a 'No' on your 1st offer, leave it for a few days and then offer an odd amount such as $291, 470. Let the real estate agent know that you have scraped absolutely every penny together and this is your final offer! In my case, the vendor accepted my first offer.
I have chosen the house design for the 2nd dwelling and have done some more research with council. I will be physically checking the property again this week to take notes on what needs to be done to prepare the property for a quick makeover. As for the other property, it is a viable 6 unit site and after some valuable advice from a propety developer friend, I believe I can make a go of this opportunity as well.
Till next time,
Fran
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