when you buy a rundown house everyone has advice you get the naysayers-that say your a fool you get the affluent who say its in the wrong area a slum,you should only buy new In Park Avenue.
I've always thought,better to buy,where you know who the neighbours are. Better to buy it with all its gloss gone Better to see all its faults exposed. The more the merrier,open to view It keeps the price nice and low to me and you Avoid those with a quick dab of paint to hide what would normally make you faint
Now the prior owners who sell it to their friends woes to tell they're the ones in the know It's not worth it they say No one can ever make it pay This old dogs had its day it sure does stink there's just no way
there's always a new bloke who reckons i can make it pay and throws a truckloads of money in its way,adds a new deck conservatory and designer garden.
once this is all over and everythings gone bad, money thrown away by the mad.
along comes the experienced investor lad. He sees the old wreck and the over capitalised rotten deck. The leaking roof with three tiles knocked back The soggy ground that needs but a drain The overgrown grass everywhere and the broken drive. Says thanks for the boxed in carport,ugly and cheap it doth make Makes it so cheap-he doth wonder why no-one thought to subdivide. A few tiles easily fixed,cheap thing is paint Not long before he has a tenant await. for a big overcapitalised house is great
when you've got to put very little money on the plate.
Sometimes both sides are right and sometimes bothsides are wrong.
Apex is going for a song. If you bought years ago,its now in a sorry state. If you bought last week You think its history is great.
if you've ever bought a house, where the do-uppers lost heart, after doing the expensive stuff for a start at a bargain price to boot cause there's not much visible to show for his spentloot. Only to do a little more touch-up and paint put a forsale sign on its gate.
Two sides of a business investment,do you see from the gate. Those that paid too much for the work they had done, miserable as guts they have become Those that get to benefit and spend their profits in the sun.
Each owner past and present to their own the original owner may have paid a million the inexperienced do-upper spent a squillion. The bright young lad may have bought for $100,000 Done the job right and end up with $200,000
Have your opinion-you can be right and wrong But the bloke who pays next to nothing Where great sums have been spent Can end up quite strong And for a song
DYOR-watch out for termites and other asset eating leaches.
AXM Price at posting:
0.7¢ Sentiment: Buy Disclosure: Held
