Buying cheap in an expensive suburb, Mitchelton prices increasing drastically and expected to do so again, this property came up well under the median house price. It had all ready fallen over twice at contract stage due to the building and pest inspection reports. We had been given access to the report and knew exactly what the issues were but we still engaged my own inspectors so we could be there with them to discuss an analyse the property our selves.
The issues were not that bad, the house was solid but the roof leaked and it had drainage issues. All easily resolved and with the property being about $70,000 under the median house price, it was decided to purchase and invest in a new roof which was asbestos anyway and needed to go.
9 Kilometres from the Brisbane CBD, this is a prime location for an investment property and located in an street where it seems all the houses are being renovated.
We will put a new roof on it for now but thats about it. The plan will be to allow the property gain in value from the other houses around it.