when you buy a rundown house

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.