Investors Take Advantage Of Market Conditions…How Can You Do The Same?
Lower home loan interest rates, healthy property valuations and stable employment are proving to be the perfect storm for property investors across major capitol cities right now.
Property developers and would be home renovators are turning up to auctions in the droves according to current auction clearance rates.
A client of mine recently purchased a property in Forest Lodge, an old suburb near Glebe in Sydney. The house was derelict and needed major renovations done to it. This sold for a record price for $700K and buyers were left wondering after the auction whether or not it was way over priced.
Fast forward 9 months and the home is fully renovated with an extra room with a converted attic. Market appraisals suggest a sale price of over $1.2 Mill. With under $200K in renovation costs this represents a pretty good return.
This is happening all over country and the right investment can prove very lucrative.