One of the reasons that some clients hire Empire to buy and renovate property for them is because they want to duplicate what Chris has done for himself. They're even more interested when they buy units in a block that Chris has bought into as they know he is likely to take over control of the strata and will do what he can to add value internally as well as externally. An opportunity has just come up to acquire a unit where Chris and Empire clients own 6 out of the 9 units in a block.
Chris bought in there about 4 years ago and went through council to get permission to get the building rendered, add glass balconies and more car spaces. That approval has come through and the work has almost been completed, but the price we've agreed is the price before the work was completed. So effectively you get to buy at the dilapidated condition price but settle in 6 weeks when it's completely rendered with new balconies.
The purchase price is expected to be 550k, maybe even slightly less. Like most of the deals we get, this property isn't on the market so you can't find it on Domain.com.au or Realestate.com.au so if you're interested in getting in on this deal, email or call us quickly before it goes on the market and the price goes up. The unit itself is in original condition so you can add even more value by renovating internally now or in the years to come.