What was the objective?
Properties purchased with the objective of completing a high quality refurbishment within a short period of time with minimal outlay to increase capital value and rental return.
What was done?
Typical works completed:
- Aluminium windows removed, original timber windows installed
- Cladding removed to expose original timber weatherboard
- Timber fretwork installed under veranda eave
- Property painted inside & out
- Baltic pine floor boards sanded & polished
- Light fittings replaced
- Kitchen cupboards re-laminated
- Bathroom vanity basin replaced
- Bathtub resurfaced
- External landscaping completed
The properties were refurbished in an average of five weeks. A maximum of twenty thousand dollars per property was spent. The properties were either resold or rented.
Average capital value increase was 50%. Average increase in rental income was 40%.