Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Here are a couple of good value properties....
Came across a couple of new listings today. 2 pairs of Semi Detached Homes at Parafield Gardens.
Yes - Pairs! Will not last long!
http://www.realestate.com.au/property-house-sa-parafield+gardens-109349591
http://www.realestate.com.au/property-house-sa-parafield+gardens-109349546
Hopped straight into the car and went to check out the pair in Oldfield st. Not bad. Aluminium windows, disability ramp on the RHS home, security screens on the LHS home. Bit of minor cracking in the mortar joints above the front doors - but have seen a lot worse.
Both good condition inside having been freshly painted.
The street is a mixture of looked after and not so well looked after homes. If i was looking to buy right now i would jump at this pair.
As always - do your own due diligence if interested.
Stangman.
Came across a couple of new listings today. 2 pairs of Semi Detached Homes at Parafield Gardens.
Yes - Pairs! Will not last long!
http://www.realestate.com.au/property-house-sa-parafield+gardens-109349591
http://www.realestate.com.au/property-house-sa-parafield+gardens-109349546
Hopped straight into the car and went to check out the pair in Oldfield st. Not bad. Aluminium windows, disability ramp on the RHS home, security screens on the LHS home. Bit of minor cracking in the mortar joints above the front doors - but have seen a lot worse.
Both good condition inside having been freshly painted.
The street is a mixture of looked after and not so well looked after homes. If i was looking to buy right now i would jump at this pair.
As always - do your own due diligence if interested.
Stangman.
JWR I don't think you are very familiar with the area... 800sqm+ blocks are around the largest in the area, possibly very few. And you'll certainly be paying quite a bit more than the semi's shown by Stangman.
Good work Stangman, those are actually quite decent quality finds. I'd try knock them down a bit however.
Good work Stangman, those are actually quite decent quality finds. I'd try knock them down a bit however.
I believe prices in the area have dropped about 10% in the last year or so.
Several Agents have told me that properties were hard to sell in the second half of last year - hence the price drop.
The interest rate cut in December has helped to get things moving again, and with talk of several more cuts this year, if they do eventuate, it is more than possible that some capital gains could occur. How much is anybodys guess.
Some investors would be looking at subdividing, but not high on my list of priorities. I will just sit back and wait for perceived bargain renos to come up.
The thing i have noticed - The idea of subdividing to build in the backyards of properties might work well in Sydney, but i am not convinced it works here in the outer suburbs of Adelaide. Have looked at a few properties where it has been done and the front houses do not seem to be selling. Personally the concept of having strangers live in my backyard is a big turn off. Each to their own.
Stangman.
Several Agents have told me that properties were hard to sell in the second half of last year - hence the price drop.
The interest rate cut in December has helped to get things moving again, and with talk of several more cuts this year, if they do eventuate, it is more than possible that some capital gains could occur. How much is anybodys guess.
Some investors would be looking at subdividing, but not high on my list of priorities. I will just sit back and wait for perceived bargain renos to come up.
The thing i have noticed - The idea of subdividing to build in the backyards of properties might work well in Sydney, but i am not convinced it works here in the outer suburbs of Adelaide. Have looked at a few properties where it has been done and the front houses do not seem to be selling. Personally the concept of having strangers live in my backyard is a big turn off. Each to their own.
Stangman.
JWR, I went for a cruise to check out your properties in Wasley st.
IMO you got yourself a couple of bargains!
Nice enough street with tidy homes opposite, although the neighbours at each end of your homes could perhaps be a bit tidier - not really an issue.
The houses are made of a nice looking brick which does not appear to have much cracking of the mortar joints. There is an area under the RHS front window on the RHS house where the tiles on the sill have come loose and the mortar is cracked on the course of bricks immediately under the sill. Other than that some painting of the exterior woodwork will have the houses looking good from the outside. Also grab a hose and sprinkler and really soak the lawns to green them up again. Been a pretty hot summer here.
Well done - great buying IMO.
Stangman.
IMO you got yourself a couple of bargains!
Nice enough street with tidy homes opposite, although the neighbours at each end of your homes could perhaps be a bit tidier - not really an issue.
The houses are made of a nice looking brick which does not appear to have much cracking of the mortar joints. There is an area under the RHS front window on the RHS house where the tiles on the sill have come loose and the mortar is cracked on the course of bricks immediately under the sill. Other than that some painting of the exterior woodwork will have the houses looking good from the outside. Also grab a hose and sprinkler and really soak the lawns to green them up again. Been a pretty hot summer here.
Well done - great buying IMO.
Stangman.
Out of interest in regards to JWR, how do you manage reno's from interstate? Do you hire individual contracts and hope they do the right job, fly over, hire a person to manage the whole process etc?
When I was getting my pergolas put up for my PPOR, I was talking to the builder who lives in Angle Vale (around 10 mins from Elizabeth). He was ducking between two jobs so I could get mine down a couple of weeks ealier, but he mentioned how he was doing reno's for investor clients.
It would be interesting to see what a full strip and refurb would cost, if you got the whole shabang down by someone like that.
BTW, I'm about a 5 minute drive from your properties.
If you're looking at getting landscaping materials, I would suggest buying from Dependables Sand and Metal at Elizabeth Downs, dirt (pardon the pun) cheap. Likewise for renovation materials, its worth checking out the scrap yard from Anderson Walk at Smithfield. You'll pay cents on the dollar for left over building supplies and by left overs we might be talking about 20+m of guttering, 100's of colorbond sheets etc.
If you need any help to do with info on the area, feel free to send me a message.
It would be interesting to see what a full strip and refurb would cost, if you got the whole shabang down by someone like that.
BTW, I'm about a 5 minute drive from your properties.
If you're looking at getting landscaping materials, I would suggest buying from Dependables Sand and Metal at Elizabeth Downs, dirt (pardon the pun) cheap. Likewise for renovation materials, its worth checking out the scrap yard from Anderson Walk at Smithfield. You'll pay cents on the dollar for left over building supplies and by left overs we might be talking about 20+m of guttering, 100's of colorbond sheets etc.
If you need any help to do with info on the area, feel free to send me a message.
Is HN Scratch N' Dent really that much cheaper? One of my mates bought a fridge off them and they only took $50 off the price of a fridge for a dent in the door, but compared to somewhere like the Good Guys it still cost more.
Perhaps check out the Good Guys to see if you can get a larger discount if you purchase a number of items off them. I wouldn't be surprised if it is significantly cheaper.
Perhaps check out the Good Guys to see if you can get a larger discount if you purchase a number of items off them. I wouldn't be surprised if it is significantly cheaper.
What I did recently was make a list of all the stuff I needed, oven, hotplates, dishwasher, extractor fan, bathroom fan etc and fax the quote to Harveys, the good guys, and any other big chains, saying I wanted to purchase them all right now. Then they came back to me with prices. Then I played them all off against themselves.
It was great, only took 2 hours total and I ended up with an ex display Miele dishwasher for peanuts, great prices and free delivery. Might work out better to do it that way than search for dented products that are often only limited in numbers?
Just a suggestion that may be of help, and good luck with it all!
It was great, only took 2 hours total and I ended up with an ex display Miele dishwasher for peanuts, great prices and free delivery. Might work out better to do it that way than search for dented products that are often only limited in numbers?
Just a suggestion that may be of help, and good luck with it all!
Australia Day I went to the local where a few of my mates were putting on the entertainment.
Two of the guys had been friends since school and they're over 50 now.
Mick said: Steve and I grew up in Elizabeth. To impress the girls you had to be able to fight or play a guitar. So here we are, still playing music today.
I actually lived in one of those awful semi-detached for a couple of years and I'm amazed they are still habitable. If you wonder why I say that, think "floating footings".
None of us would go back, but don't let me get in the way of a good deal.
Two of the guys had been friends since school and they're over 50 now.
Mick said: Steve and I grew up in Elizabeth. To impress the girls you had to be able to fight or play a guitar. So here we are, still playing music today.
I actually lived in one of those awful semi-detached for a couple of years and I'm amazed they are still habitable. If you wonder why I say that, think "floating footings".
None of us would go back, but don't let me get in the way of a good deal.
Hey Sunfish, Plenty of good deals to be had in the area too!
More than happy with my recent deals... one of which cost $142,500 and is already tennanted at $190 per week. Rent will be going up soon as well. Not many vacancies in the area by the look of things -
http://www.realestate.com.au/rent/p...cludeSurrounding=false&source=location-search
and-
http://www.realestate.com.au/rent/p...cludeSurrounding=false&source=location-search
Each to their own i guess.
Here is another property described as Red Hot by the Agent -
http://www.realestate.com.au/property-house-sa-elizabeth+vale-109379436
Not too many single homes become available in Elizabeth Vale for under 200K.
Only one photo on the website for this one - no idea why. I see it has been listed by my favorite Agent Lyneve.
Stangman.
More than happy with my recent deals... one of which cost $142,500 and is already tennanted at $190 per week. Rent will be going up soon as well. Not many vacancies in the area by the look of things -
http://www.realestate.com.au/rent/p...cludeSurrounding=false&source=location-search
and-
http://www.realestate.com.au/rent/p...cludeSurrounding=false&source=location-search
Each to their own i guess.
Here is another property described as Red Hot by the Agent -
http://www.realestate.com.au/property-house-sa-elizabeth+vale-109379436
Not too many single homes become available in Elizabeth Vale for under 200K.
Only one photo on the website for this one - no idea why. I see it has been listed by my favorite Agent Lyneve.
Stangman.
The soil in Elizabeth is highly reactive. The problem was solved by having no footings.
I saw it: They would rake the grass and leaves off the top and pour some concrete to go under each wall. I assume the idea was that the soil could shrink and swell as much as it liked but the house would "float" as if it was on a surfboard. My semi-detached only had modest cracks between us and our neighbours but some of my mates could talk to theirs. They couldn't quite pass cigarettes through the firewall though.
I saw it: They would rake the grass and leaves off the top and pour some concrete to go under each wall. I assume the idea was that the soil could shrink and swell as much as it liked but the house would "float" as if it was on a surfboard. My semi-detached only had modest cracks between us and our neighbours but some of my mates could talk to theirs. They couldn't quite pass cigarettes through the firewall though.
