Elizabeth Downs -Hot lead for low cost Mortgagee Sale

welcome back jodes :p

What are you trying to get out of the property? Just cashflow?

It's a little narrow for my liking, I prefer my pairs to have a more width so that you can get 3 onto it down the track. The semis look like they could use a fair bit of work as well, but if that's your thing, then go for it.
 
Units dont really sell that well from what I can tell - you'd make more money from houses as discussed privately.

Look up the comparables for each though. Happy to be proven wrong. Vals are a bit all over the place in lizbef (and thats what allows the opportunity)
 
D.T. said:
Units dont really sell that well from what I can tell - you'd make more money from houses as discussed privately.

Look up the comparables for each though. Happy to be proven wrong. Vals are a bit all over the place in lizbef (and thats what allows the opportunity)
Click to expand...

Yea it's hard to work out an average

Going to see fairmont on Wednesday see what the prices are for 3 bed build
 
200k at *best*.

Was talking to an agent the other day re; 2 bedder new builds in Elizabeth, he said they are having zero interest in getting the market to sell these.

Market drives prices, so wouldn't suggest it's a good idea.
 
Corey Batt said:
200k at *best*.

Was talking to an agent the other day re; 2 bedder new builds in Elizabeth, he said they are having zero interest in getting the market to sell these.

Market drives prices, so wouldn't suggest it's a good idea.
Click to expand...

Seems like 3 bed can sell for around the 220-240k mark

What about 4 bed 2 bath?
 
If you were going to do 4 bed, you'd want to do double garages since there'd be more people living there. That being the case, you wouldn't fit 3 of them on your block. Only fitting 2 would be undercapitalising it.
 
Joeyv said:
Seems like 3 bed can sell for around the 220-240k mark

What about 4 bed 2 bath?
Click to expand...

I don't think I've ever had a client with a 4x2x2 in Elizabeth before. Infill is usually 3x2x1, so that's the majority of the new build market.

Beware being the top of the market, as your valuations in the future will be difficult. Sometimes it's better to be like everyone else, that's certainly the case with owning properties.

DT's touched on a key point, if you have the choice of developing in 3x 3 bedders vs 2x 4 bedders, go for the increased density. So long as you're keeping with the norm of the infill builds in the area, no doubt your return will be maximised there.

I'd suggest looking at multiple builders as well as Fairmont, when these lowrange new builds you need to keep as much margin as possible to create profit at this time. Clients have consistently been bringing in Statesman building contracts for a number of years now at extremely competitive sqm pricing vs quality, so they may be another builder to compare against.
 
Our PM says 3 bedders are very hard to move out there because there are so any of them and there is strong demand for 4 br which is what we bought
 
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