Adelaide Investment Suburbs

jim1964 said:
Dropped a lowball offer yesterday on this..........

http://www.realestate.com.au/property-house-sa-christie+downs-113810287

The bank came back and accepted,making a loss from their end.This property sold in 2009 for $283,500.Happy Days
Click to expand...

Would be interested to see what your "low ball offer" was... when its gone unconditional please share details or PM

Did you happen to look at this one?
http://www.realestate.com.au/property-house-sa-morphett+vale-109993271
Whats it look like in the flesh... decent price, I always like the 2nd bathroom makes tenanting easy...
 
jim1964,

I'd venture ask $350 for Tenterton rd.

I've got a 3 bed one bath no carport or garage and no backyard (i've cut off the rear for new build) got 5 written offers 1st open on $300 pw rent, vacany rate is super low around here at the moment, think 0.6% last time i googled.
 
Congratulations Jim
NB: rental comparison report - recent rentals in the suburb. 16 3+1 houses. 13 rented for less than $300, 3 for more. Range $259 lowest to $325 highest, median $277.
 
bargain?

my wife used to work for that chain - she said it was a bit grim at the Directors Suites - mind you it does have all night karioke next door from what i remember (if you're into that) but at a return of $300 per year i'd say $10k was expensive!
 
How did you work out $300/year?

But yeah forget it now... wake up and see the properties advertised on the front page of the Advertiser! Zero chance of a bargain now.
 
cheapo studio

$3000 income / $2700 outgoings .. the ad gives the income after 'management fees' - ie the costs of running the appartments - you're still liable for all the other costs listed below .. rates etc which come to $2700 per year - these aren't management fees
 
the advertiser

got to love the advertiser .. never a bad real estate story .. can't bite the hand that feeds - great piece of 'free' marketing for BrockWilliams

just because the reserve is $10k doesn't mean that it'll sell for $10k - there was no interest at $65k (& i assume that they'd have been open to offers at that price - so that takes it down to say $50k)

With the bargain frenzy, there might be some crazy people that'd still stick up their hand at $40k !
 
Suzz, no need to argue. The only reason the purchaser got their face in the paper was because the agents team did a good job with the marketing ploy.

Just having a quick look at rpdata, there has been more than 12 hotel units sold in the last 18 months for <$100k. I'm sure most of those purchasers didn't get in the paper so as far as I am concerned the agents did a great job.
 
so that guy locked himself into a 60-70k debt for 8 years with pretty much 0 return. did he bought both ? thats crazy lol
 
I read your agents couldnt sell it,so really its the reporter for the Advertiser who should get the credit........not the agent.
Click to expand...

Not at the wonderful Advertiser. Stories come to them, not the other way around. The agents set the tiny reserve knowing too well that it will make the papers then go and tell the folk on Waymouth St who then cobble together a wonderful 'story' for publication.

so that guy locked himself into a 60-70k debt for 8 years with pretty much 0 return. did he bought both ? thats crazy lol
Click to expand...

A small price to pay for the right to say you own property all over the place...... :rolleyes:
 
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