Elizabeth Downs -Hot lead for low cost Mortgagee Sale

[D.T.]

Is it hard to find good tenants to rent these semis?

Seems like more scumbags rent semi detach

Not really, i have a pair on 1 title in fairly poor condition renting for an average of 200 per side. This is fairly low for the area but matches the condition they're in.

They were a bit rocky to begin with, but set them up on Centrepay and no further issues since.

 

[spludgey]

http://www.realestate.com.au/property-house-sa-elizabeth+downs-119030027

Settled. Picked up for $240k. Hopefully rent for 220 each

Nice one! I made an offer of $260k for it before auction and was told that they wouldn't consider offers prior.

Just missed out on a pair of semis that went for around $275k.

So now I've got flights booked for Friday, but very little to look at. I guess sometimes you lose in property investing (and in life).
Not the end of the world, but pretty disappointing.

So if you know of anything else, let me know!

 

[DaveM]

Semi tenants are generally the lowest of low, but you can still pick up good ones if you wait a bit and reject the ferals

 

[jim1964]

Nice one! I made an offer of $260k for it before auction and was told that they wouldn't consider offers prior.
!

So i read this as a $20k loss to the vendor.If they were my agents that wouldn't have happened,obnoxious and very up themselves!!.

 

[Corey Batt]

So i read this as a $20k loss to the vendor.If they were my agents that wouldn't have happened,obnoxious and very up themselves!!.

As it's Smallacombe Sanderson it would be government sale - so all made a loss in a sense!

Just a part of the transparency of the process to let it come to an auction w/out accepting a random pre-auction offer.

 

[jim1964]

so all made a loss in a sense!

Exactly !!! Corey.Your Tax dollars at work.

 

[JohnMichael]

Im interested in investing in Elizabeth but wondering how the holding costs compare. Ive been told PM fees can be around 7.7% - 9.9%

What are the council rates like?

 

[hugh72]

Im interested in investing in Elizabeth but wondering how the holding costs compare. Ive been told PM fees can be around 7.7% - 9.9%

What are the council rates like?

DaveM suggested Rentals SA so I got them to manage a recent purchase there. The fees are sub 7%, and are considerably cheaper than some of the other local agencies. Too early for me to comment on their service but so far so good.

 

[Joeyv]

Im interested in investing in Elizabeth but wondering how the holding costs compare. Ive been told PM fees can be around 7.7% - 9.9%

What are the council rates like?

Council rates are high!

I have a house with council value of $210,000 and pay $1273.25 per year

 

[strongy1986]

Council rates are high!

I have a house with council value of $210,000 and pay $1273.25 per year

That's not very high

 

[Joeyv]

That's not very high

Really? Playford has some of the highest going I heard.

I know some one who owns a house in prospect and pays $1700 yet the house is worth $600k

 

[spludgey]

Really? Playford has some of the highest going I heard.

I know some one who owns a house in prospect and pays $1700 yet the house is worth $600k

I pay $4000 for a property that's worth $250k in Rockhampton.

 

[hugh72]

I pay $4000 for a property that's worth $250k in Rockhampton.

That must be the unimproved land value Not actual value is it?
I just checked and we pay from $2700 per year for a house to $3900 per year rates for a full duplex on approx 1000 sqm in Rocky. Councils in regional Qld also have slightly higher insurance costs for their assets
Basic services can cost the same whether its a upmarket house or a unit I suppose, costs in Playford relative to the cost of a house in Prospect might sound expensive but you are more than compensated by a much higher yield

 

[hugh72]

Adelaide seems so cheap in terms of insurance generally. Dont know if anyone has had any substantial increases?

 

[JohnMichael]

Council rates are high!

I have a house with council value of $210,000 and pay $1273.25 per year

Just to confirm - thats a house in the Elizabeth area?

Is that standard, does anyone know?

I agree that doesnt seem very high, compared to what Ive heard quoted for Logan, etc.

 

[Joeyv]

Just to confirm - thats a house in the Elizabeth area?

Is that standard, does anyone know?

I agree that doesnt seem very high, compared to what Ive heard quoted for Logan, etc.

Yes, Elizabeth Downs

 

[spludgey]

I made offers on a house and two pairs of semis today, let's hope something comes through!

That must be the unimproved land value Not actual value is it?

No, total value. It's a duplex as well though.

I agree that doesnt seem very high, compared to what Ive heard quoted for Logan, etc.

My Marsden (Logan) house that I bought for $206k last year is about $3000. So I agree in that I don't think $1200 is all that much.

 

[Anon_]

I don't want to do the work but this would be a great buy when it comes off affordable homes. 4 bedrooms / side.

http://www.realestate.com.au/property-duplex+semi+detached-sa-elizabeth+east-119517511

 

[Gattuso]

I don't want to do the work but this would be a great buy when it comes off affordable homes. 4 bedrooms / side.

http://www.realestate.com.au/property-duplex+semi+detached-sa-elizabeth+east-119517511

Anon,

Just wondering how you would purchase this being an "affordable homes exclusive"?
Do you have to wait for the eligibility period to expire then make an offer?

Gattuso

 

[D.T.]

Anon,

Just wondering how you would purchase this being an "affordable homes exclusive"?
Do you have to wait for the eligibility period to expire then make an offer?

Gattuso

He said in his post "when it comes off..."