[THE VAULT] 4 BEDROOM BLACKTOWN HOUSE BOUGHT FOR $285K, RENO $15K, NOW WORTH OVER $700K
In this edition of The Vault, we unearth a 4 bedroom Blacktown house that has more than doubled in value since its purchase in late 2012.
The investor who purchased this house almost four years ago knew it was a diamond in the rough. They paid a mere $285,000 for it and spent around $15,000 in renovations. This brought its market value up to $350,000. In the current market, a house such as this won’t go for less than $700,000.
WHAT STOPPED YOU FROM BUYING THIS HOUSE?
A lot of people would have said no to this opportunity if it was presented to them. Whether it be the location, in the Western suburbs of Sydney; whether it be the fact that it is a fibro shack; or whether it be the fact that it needed a lot of fixing up, this house would not have seemed very attractive to many purchasers. Yet, someone took the plunge and purchased this house – and it sure paid off for them!
KEEP MOVING FORWARD
You may have missed this opportunity, but just remember – there are many more to be seized. Make sure you stick to your goals and keep moving forward towards achieving them. Opportunities are always out there and still available today. Binvested can help you locate investment property gems such as this one. Give us a call today on 1300 367 925 or send an email to email@example.com
Have you purchased a diamond in the rough such as this one? Please share your experiences in the comments section below.