Auckland - city of done-ups?

[nzfrazer]

"delightfully renovated"
"like new thanks to total redecoration"
"recently refurbished"
"fully modernised"
"all the work's been done"
"nothing more to do"
"newly painted inside"

Seems that we really are a nation of DIYers!

I've been out looking at a ton of houses over the last few weeks with a mind to buy something that can be done-up or extended in order to add substantial value.

I've been surprised that anything resembling a do-up is snapped up before the ink on the newly signed listing is dry.

When I tell agents what I'm looking for they roll their eyes and say they can't get enough of them to sell!

I am looking in central Auck suburbs and finding that properties with potential to add value are very much in demand and selling within days.

There seems to be a bit of an inbalance between do-ups being outnumbered by done-ups.

Any PT members currently involved in do-ups to flick on for a quick profit? I know Dave did one successfully up in Whangarei and FreezingHot is into one at the moment.

[essence]

Doing a done up

Hi 914541 (what a strange sign-on!!)

I've just finished a do-up and have currently got it on the market (north of Wellington). When its sold, I'll post some pictures on here.

You're quite right about trying to get hold of a do-up, they do sell very quickly. Mind you, what I consider a do-up and what REA's consider a do-up are totally different things.

One of the "do-ups" I was rung about was nearly ready for demolition, the next do-up was only a new kitchen needed. Like all things, the REA's are using the typical broad-speak words to attract potential buyers.

If you're still in the market for a do-up, I would really recommend taking a couple of REA's out for coffee/lunch (separately of course!) and try building a "pick-me-first" relationship with them.

I was recently rung about a "do-up" that the vendor hadn't even listed with the agent, but "...she'll be signing it up tomorrow - would you like to go through as soon as it's listed".

THAT'S the way you get do-ups.

[nzfrazer]

Thanks essence, yeah it is a strange sign on, when I joined in 2004 I just banged in some numbers but now would like to change it. Wonder if you can do that or have to re-join?

I'll take your advice onboard and get on friendly terms with more agents.

Frazer

[BusyLizzy]

yeah it is a strange sign on, when I joined in 2004 I just banged in some numbers but now would like to change it. Wonder if you can do that or have to re-join

Hi 914541.... if you want to change your user name, send a PM to Marcus. He has super-moderator rights, and I think he has the ability to do that for you.

[manic_mansions]

As theres such demand for do-ups, how about buying a done-up, undo all the work and sell it as a do-up?

[nzfrazer]

I like the way you think manic_mansions

thanks busyLizzy i've sent a PM to Marcus

Anyone out there doing up places full time for a living and would like to share their story?

[NZGEMS]

you are right 914541 many have jumped on the band wagon and are doing up houses but it is also right you pretty much have to be on the inside to pick them up especially at the right price, we are doing up too but only ones we can get for a really good price, still as was suggested take a couple of agents out for coffee or lunch and you will soon get the calls.

I have one of my own coming up soon (once we kick the tenant out, she is holding out for her full 90 days) but I think we will auction it though rather than do it up ourselves as in Hamilton it is really hard to pick up a good one you can make a good profit on, they are all paying retail for them.

keep making contacts soon you will pick one up, it is only those who give up who miss out.

good luck Robyn

[FreezingandHot]

Hi Frazer,

Nice to talk to you on the phone the other day!

The agent I dealt with for my property seems to know where the good deals are, also a positive for me is that she seems to like me and says that I am honest, so hopefully this agent will call again when the dust settles and I am ready to buy again.

In my opinion if you want to be remembered by agents,
treat them with respect, say nice things to them, or buy them coffee, most of this is free and will be the best way to get them on your side. No one wants to deal with inpatient, grumpy people.

So smile when you meet an agent, they have the potential to find you great deals if you build good relationships with them.

FH.

[KevinR]

...we are doing up too but only ones we can get for a really good price...

Robyn,

I seem to remember reading somewhere in this forum that in the past you preferred not to touch a house after you have bought it, but to get tenants in straight away. Has your policy changed on do-ups?

[nzfrazer]

Wow, there must be some over-caffeinated agents running round out there! (may explain a lot)

Has anyone been successful buying do-ups privately?

Thanks for all the tips everyone!

FH, keen to hear how its going out there in Papakura.

[FreezingandHot]

Hey Frazer,

I have got tomorrow till the rest of the week off from
work to knock out my reno, so have given myself till the end of the week to finish it. Its gonna be mad so
will be in touch when I finish it.

Your welcome to come and have a look when it is done.

All the best.

FH.

[nzfrazer]

Thanks Patrick, will give u a call over the weekend and perhaps swing by for a look.
Frazer