Really? The house was that bad?
The photos make it look quite ok! Unless it's your first visit to Elizabeth (just kidding)
Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
The photos make it look quite ok! Unless it's your first visit to Elizabeth (just kidding)
It was terrible. I checked the photos again and it almost looks like all the damage has been photo-shopped out. Well it's still liveable and would need a huge amount of work and maintenance. i was actually there with my partner who is a property manager and they wouldn't let anyone live there, but if you were going to still let it i would say 125-140/week max.
The property needs a lot more then just a shower head, I don't think there would be an agent out there that would take the property on as a listing without substantial work completed prior to a tenant moving in. Owning property in the area and also having been to dozens of inspections, I do stand by that that is the worst I've seen - Unless where on the add it is specified as land over (which I think this one actually was).
That was my just opinion after you fix up the 'must do's'. You said you have seen worse tenanted, curious what you think you could get for it? Were you going to go for it?
I've seen a lot worse properties (and bought them 
). Understand where Anon is coming from, but a lot of it could be worked on to give the house a life of 5-10 years, plenty of time to get subdivision works underway.
7.5k would get it to average standard with normal rents if you know the tricks of the trade.
I think it will go under contract very quickly.
You would want to remove that shed ASAP though and get used to using a chainsaw.
). Understand where Anon is coming from, but a lot of it could be worked on to give the house a life of 5-10 years, plenty of time to get subdivision works underway.7.5k would get it to average standard with normal rents if you know the tricks of the trade.
I think it will go under contract very quickly.
You would want to remove that shed ASAP though and get used to using a chainsaw.
Yeah that was me.
Some people here might be interested in this Mile End one also which has potential...
http://www.realestate.com.au/property-house-sa-mile+end-116036203
I'm much the same, well really with just starting the DIY.
Often when partners Dad is doing stuff around his place he will get me in to help and usually have a good time doing it, different to my pen pushing
I guess its a little of knowing what to do as well.
I don't know Mile End that well.. but I would say $300-320 for the 2 bedroom and $240-250 for the 1 bedroom? Anyone else?
Looks like the type of place where if you put some money into it you could almost flip it or increase the rent a fair bit.
It might sound absurd but just throwing it out there.
For the Mile End property, combine the 2 properties together by breaking walls and adding structural beams. If you look at the floorplan, you could possibly create a 4 bedroom house with a open living dining plan (retaining almost everything on the left side while getting 3 rooms from the right side - bedroom 1,close off lounge area and kitchen laundry change to bedroom too) or have 3 bedroom with one with walk in robes and ensuite (same as first option converting right hand side kitchen into walk-in and upgrading the bath).
Probably won't be worth the effort though.
For the Mile End property, combine the 2 properties together by breaking walls and adding structural beams. If you look at the floorplan, you could possibly create a 4 bedroom house with a open living dining plan (retaining almost everything on the left side while getting 3 rooms from the right side - bedroom 1,close off lounge area and kitchen laundry change to bedroom too) or have 3 bedroom with one with walk in robes and ensuite (same as first option converting right hand side kitchen into walk-in and upgrading the bath).
Probably won't be worth the effort though.
I know the street/area fairly well. There are some definite pros with the location but also some things worth thinking about
Firstly is the flight path
Secondly there was some serious trouble on this street a few years ago:
http://m.adelaidenow.com.au/news/so...ight-in-mile-end/story-e6frea83-1226226187719
It could have been an isolated incident.
This is an awesome flip
http://www.realestate.com.au/property-house-sa-hyde+park-114886759
But wow almost 8000 hits!
http://www.realestate.com.au/property-house-sa-hyde+park-114886759
But wow almost 8000 hits!
http://www.realestate.com.au/property-house-sa-smithfield+plains-112148459
This house been around for a while now, what's wrong with it?
This house been around for a while now, what's wrong with it?
The street, its one of (if not the) roughest in the suburb
