Carlisle, Western Australia

Those 2 units for sale together are nice tidy little places, but with room to improve, bathroom, kitchen, bit of landscaping - but would they really fetch $450 week each as is? Doubtful
 
****Currently leased till August 2014 @ $420 pw

Im guessing they are hoping no one buys it so they can stay on.

Well if someone does buy it, somehow i dont think their lease will be extended....
 
Tulamalula said:
Those 2 units for sale together are nice tidy little places, but with room to improve, bathroom, kitchen, bit of landscaping - but would they really fetch $450 week each as is? Doubtful
Click to expand...
$450 p/w would be the top end if the places were renovated. $420 if not renovated. It comes back to this: if you have $900k to invest, are you going to invest it in Carlisle. The houses next door sold for $650k each on around the same land. They look like ~$200k builds to me. So assuming a $900k purchase price, $50k for demolition and servicing, $400k build, $1.3m sell, you could lose a tidy $50k and that doesn't account for holding costs or GST.
 
wrexter said:
****Currently leased till August 2014 @ $420 pw

Im guessing they are hoping no one buys it so they can stay on.

Well if someone does buy it, somehow i dont think their lease will be extended....
Click to expand...
I don't really get "From $589,000" with a rent potential of $420 per week... unless you want to lose a lot of money. @5%, $589,000 is $29,450 p/a interest. $420 p/w is $21,840 p/a income. So you could lose a tidy $7,610 per year + rates, water rates, insurance etc, etc, etc. Doesn't seem to add up.
 
perthguy said:
I don't really get "From $589,000" with a rent potential of $420 per week... unless you want to lose a lot of money. @5%, $589,000 is $29,450 p/a interest. $420 p/w is $21,840 p/a income. So you could lose a tidy $7,610 per year + rates, water rates, insurance etc, etc, etc. Doesn't seem to add up.
Click to expand...

Thats the thing, some areas are great for a PPOR and not rental and vice versa.

Look at Rossmoyne, we would love to buy an investment house there and rent out with the hope of knocking down and building our dream home one day.

But with a price tag of $1 Million plus and low rental returns, not worth it. Better to put our money in other investments and buy our dream PPOR later.
 
I'm really good at identifying properties I want to live in :( Back to looking in Thornlie, Maddington and Gosnells for retain and build blocks. Prices down there give me a sense of relief, and there's little chance I will find a cute character cottage I will want to overcapitalise on and live in myself :)

10 offers on that Queens Park dump, it's under contract now - wonder which Indian or Chinese got it, and what they paid.
 
wrexter said:
Thats the thing, some areas are great for a PPOR and not rental and vice versa.
Click to expand...
Somehow that $589,000 dump does not look like a PPoR. I reckon it is overpriced for sure... even in this market. Now watch it go under offer in 48 hours :rolleyes:

I know what you are saying though. That duplex half (now duplex pair) is what got me only Carlisle. For $440,000 with some paint and gardening it could fetch close to $450 p/w. My SMSF requires a 20% deposit, so that would put the duplex half nicely into positive territory. But as a half (with no survey strata), it was just too risky. Now as a pair, it could be good as a long term hold with future redevelopment potential, but I don't $250k in super. Does anyone know how to set up a unit trust? :D
 
Tulamalula said:
10 offers on that Queens Park dump, it's under contract now - wonder which Indian or Chinese got it, and what they paid.
Click to expand...

Too much and they will get a shock when council wants $30k to subdivide the block :eek:

Also, asbestos removal might turn out to be a touch more than they budgeted for... :eek:

I like this one better anyway (except that carpet... ick!). I was going to look at it on the weekend but could not be bothered.

http://reiwa.com.au/Buy/Pages/More-...1&listingid=10431953&listingno=3433778&puid=0
 
Tulamalula said:
saw that online just before and thought, are prices coming down in Beckenham?:eek:, the carpets ... what about the greek columns and arches. :eek:
Click to expand...
Those columns and arches are "out there" alright. I might have to call my mate Cam and see how the home open went. It sure seems strange to have a 2x1 on a subdividable freehold lot. I wonder if that weird room could be converted into a third bedroom? If it had a big laundry, I would turn that into a second bathroom/laundry. Now I'm just fantasising.
 
Maybe fill in the arches and install a B and D dungeon/third bedroom.

Cheapest I've seen in Becks is that Galaxy Street one backing onto the railway line.

You'd have to get stuck straight into the renos on this one, doubt you'd get much rent for it.

Oh, and I wonder what the wood panelling on the walls is hiding.
 
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