Fire Sale Valuation - Property

[Yellow_Festiva]

Originally Posted by Citroënbender

I’m looking at a period under 24 months of heavy debt, as a calculated risk before scaling back to less debt.

So, yes, in popular parlance that probably means a flipper but preferably one with negligible downtime. I don’t have the time to renovate or the interest in funding it to a suitable standard or the patience/vanity/delusion to leave a place empty.

I see those signs on power poles, either in English or Chinese “we buy houses” and have wondered what sort of money the chancers actually offer as a percentage of a formal, accredited valuation.

In the current market its a tough call. I'm bucking the trend and going from a house to a unit. Houses are going gangbusters but units seem to be stagnant which suits me just fine.

I'm planning to sit tight and put my money to work elsewhere then when I come across the right house or block I'll be ready. I'm very fussy about my house or land but for the moment any old 3 bedroom unit will do as it's only a short term thing.

Also, with all these record high sales and low interest rates I think come 3-4 years when rates start to creep up and fixed terms end there may be some distressed sales. Pure speculation on my part of course.