Comments on: DIY and Private Real Estate by Owner Renovations

By: Rodney Munch

Rodney Munch — Tue, 04 Nov 2008 22:53:12 +0000

Very good point Drew, people need to make sure they don’t get themselves in a position where they are in too much debt and were backing on selling a property for $X and Y day.

When ever these decisions are being considered you need to think of the worst case situation not the best.

By: Drew Burkinshaw

Drew Burkinshaw — Sat, 01 Nov 2008 01:17:02 +0000

I think this strategy works well in a rising market as you are guaranteed the property you buy will be worth more in 18 months time even if no renovations are complete.

But in a falling market with uncertainty like at the moment there is no way to know what property prices will do in a few months let along in the long term.

By: Micky

Micky — Thu, 30 Oct 2008 21:09:15 +0000

A friend of mine buys run down properties and then does a DIY renovation to them, lives in them and then sells them for a profit which is tax free because he lived in the property.

He does quite well and believes this is a great time at the moment to capatalise on some cheap property in the market. So if this is your thing then it is probably a good time to get involved.