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Just out of interest, are you talking about Peter Migali? He's the one that I submitted my offers to and haven't heard a peep from since I did.

I did not know that, thanks!

Care to elaborate? Are you implying that the vendor won't be in a position to offer it? In this case it's a school/church that owns it, so I would assume that they own it outright.

I should have clarified, I made two offers for all four one with vendor finance and one with out and two similar offers for the two Murphy Street ones. Maybe. I guess I'll have to wait and see. I didn't get any acknowledgement of the offers either. I'm not increasing my offers either, if...

I think I should be able to get around the $220 mark if I need to look for new tenants. I haven't heard back from the REA (who's pretty terrible), so I'm assuming that I didn't get it. I'm happy to post up my four offers once the tender is awarded.

I've got a 3 bed semi about 200m away that gets $240/week (above market though). I haven't inspected them myself, but would think that the rent would be significantly higher.

Alright now that the tender is closed, hands up who submitted a tender. I did.

I'm thinking of bidding on it. The only thing that's holding me back is that it's not set up as four semis, but two semis and a house. Plus, I'd have to pay to move the fence.

Did anyone have a look at these today? Apparently they've had some termite damage and all the copper has been stolen, but at that price, it might be worth considering. http://www.realestate.com.au/property-house-sa-elizabeth+east-119642527 I'm still waiting to hear back on the four...

I don't really think that's going to happen, but good news stories are always good, regardless of whether they're true. I'm very eagerly awaiting the response on the four semis that I made an offer on. Should hear back Monday.

If you sold the land though, you'd probably only need another $50k to break even, so I'd go somewhere in between those two numbers. But obviously everyone is different when it comes to insurance.

I made offers on a house and two pairs of semis today, let's hope something comes through! No, total value. It's a duplex as well though. My Marsden (Logan) house that I bought for $206k last year is about $3000. So I agree in that I don't think $1200 is all that much.

I pay $4000 for a property that's worth $250k in Rockhampton.

Nice one! I made an offer of $260k for it before auction and was told that they wouldn't consider offers prior. Just missed out on a pair of semis that went for around $275k. So now I've got flights booked for Friday, but very little to look at. I guess sometimes you lose in property...

So long as the investment still stands on its own two feet if you disregard any possible future development, then I obviously completely agree.

I really don't get that part, I think that's way, way down the road. I don't think that developments will really be all that viable in the next five years and probably longer. Am I missing something, or is this just a spin that's being put on it for silly out of state investors?

Oh, I'm definitely agreeing with you, I just meant that it's not a buy and forget kind of place.

It could be, but it sounds like they need a bit of work, especially bathrooms and kitchens.

I emailed the REA, I'll let you know when/if he responds. Do you know at what price?

Considering they were on one title, I was expecting it to be both or neither. ;)