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  1. H

    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Lack of rainfall? I know someone who takes photos for a RE agency, they change the backdrop to clear and sunny and the grass to a lush green colour.
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Only Elizabeth in SA as I was looking to go 'upmarket' slightly next as everything looks good in Adelaide IMO but outside of that presently hold properties throughout regional Qld, NSW and different suburbs of BN The southern suburbs seem to have moved already but still look like okay value, I...
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Thanks for the quick replies Dave and Brady, the combined street frontage would be slightly over 40m with a depth greater than 30m. One would be would be 18m wide and the other 22m approximately. I guess if I lived in Adelaide I would be keen but the house listed looks like it needs some work...
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    So the property adjacent to one I purchased earlier this year has been listed for sale for a little while in an Elizabeth suburb. Its fairly cheap and in poor to fair condition but the price probably reflects this. Combined it would mean about 1200sqm of land. They are both houses. I can see...
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Surprising prices Corey, they are all on large blocks. Do you think that's the reason, first time developers looking to sub divide without determining costs first?
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    There's a property at 53 Barrington rd where someone's done this and gone down the community title route. The older house is listed at 195k 4 bedroom in good condition but its been sitting there for ages no takers
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Depending on the what, where and when there is room for negotiation. If you can purchase quite well you may be able to obtain a decent discount of between 5-10% off the list price but this can depend on how cold a listing is or vendors motivation etc. I wouldn't base my search purely on list...
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Adelaide seems so cheap in terms of insurance generally. Dont know if anyone has had any substantial increases?
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    That must be the unimproved land value Not actual value is it? I just checked and we pay from $2700 per year for a house to $3900 per year rates for a full duplex on approx 1000 sqm in Rocky. Councils in regional Qld also have slightly higher insurance costs for their assets Basic services...
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    DaveM suggested Rentals SA so I got them to manage a recent purchase there. The fees are sub 7%, and are considerably cheaper than some of the other local agencies. Too early for me to comment on their service but so far so good.
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Great return, did they require much prior to being rented out?
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Hope not its full of good information
  13. H

    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Use your existing equity for you next project as this is only making you money presently. Yes there is opportunity cost with every decision but thats what I would do, I don't like selling.
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    Sounds like a good buy, it is yielding 9.1% on approximate purchase price why would you sell? Just use the equity and income for your next project.
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    And +geared from day1 post minor reno
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    Elizabeth Downs -Hot lead for low cost Mortgagee Sale

    I also used Sam from BPI and can recommend him, it was a very thorough report. Most houses I looked at have at least some minor movement cracks which isn't that surprising for 50 year old houses
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