I've seen an opportunity to purchase a property which has a permitted dwelling plus another dwelling which is strictly speaking, not a dwelling - but looks and feels like one.... and has the potential to be renovated to be a really nice dwelling.
My question is.... If I spend some dough to make it nice, I know I can make a nice return on it. But how will I get on when I want to use the property as security for yet another purchase of another rental property?
Are valuers likely to look on the dwelling as illegal and therefore value it below what I paid and well below the value of the money I've poured into it, despite the fact that it will be yielding well.
Am I buying myself a world of hurt and am I best to walk away?
My question is.... If I spend some dough to make it nice, I know I can make a nice return on it. But how will I get on when I want to use the property as security for yet another purchase of another rental property?
Are valuers likely to look on the dwelling as illegal and therefore value it below what I paid and well below the value of the money I've poured into it, despite the fact that it will be yielding well.
Am I buying myself a world of hurt and am I best to walk away?
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