Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Indeed, SA does offer some great buys atm, as you keep making.
These guys are not bad from the experience of the clients I work with, they charge circa 2k, find, negotiate, then offer the usual PM etc.Indeed, SA does offer some great buys atm, as you keep making.
Hi can you PM me the details as well, thanks
Just curious
There are heaps of ads for new house and land packages on small plots of land for as little as 179k
How on earth do they manage to do them this cheap even using the cheapest nastiest methods
Block of land 30k bought In bulk
100k to build for example
1/11 th off sale price as gst
Which returns 30k pe site
Doesn't seem very profitable unless its a numbers game
There are heaps of ads for new house and land packages on small plots of land for as little as 179k
How on earth do they manage to do them this cheap even using the cheapest nastiest methods
Block of land 30k bought In bulk
100k to build for example
1/11 th off sale price as gst
Which returns 30k pe site
Doesn't seem very profitable unless its a numbers game
Is advertising.....
The build doesn't include
- footings
- air conditioning
- flooring
- driveways
- landscaping
- etc
www.realestate.com.au/property-house-sa-elizabeth+downs-114558211
I saw this. I'm not interested myself right now but perhaps someone else is...?
I saw this. I'm not interested myself right now but perhaps someone else is...?
The bottom end of the market has disappeared. I (and my clients alike) are struggling to find anything freestanding under 160k across Playford right now (bar the odd one or two properties).
A lot of stock that I'm used to following at that range is coming at 175k+.
I'll be interested to see where this heads.
A lot of stock that I'm used to following at that range is coming at 175k+.
I'll be interested to see where this heads.
Agree with this comment.
I haven't found much decent stock coming through my filters
800sqm+
Most has been $180k+
Thoughts on buying single maisonettes in the Elizabeth suburbs?
Seems that pairs of maisonettes are snapped up extremely quickly and prices on houses on 700+ metre blocks are rising. Buying a pair would be ideal of course (for future development prospects etc.).
By my reckoning single maisonettes rent for around $200 pw and can be bought for around 130k?
PS: Major forum lurker checking in!
Seems that pairs of maisonettes are snapped up extremely quickly and prices on houses on 700+ metre blocks are rising. Buying a pair would be ideal of course (for future development prospects etc.).
By my reckoning single maisonettes rent for around $200 pw and can be bought for around 130k?
PS: Major forum lurker checking in!
Numbers are pretty accurate for the market.
Upsides:
- Easier to secure. There are a lot more single maisonettes than pairs.
- Can be cheaper to buy two separate maisonettes than one pair, as you can pay a premium for the pairs.
- Cheap entry price, strong yields.
- Quality single's available, a lot of renovated properties on the market at this moment.
Downsides:
- Lack of development potential in comparison to a pair.
- Less flexibility should you wish to demo-rebuild, as you will need to do this with neighbouring block being demo'd.
- Derelict connecting maisonette can reduce the structural integrity, rental yield and value of your property.
I prefer pairs to be honest, or wait for a good deal of a freestanding. But they do get people into the market and offer strong yields.
I would agree with Cjay.
I am settling on a pair in Smithfield next week and while the cost vs cash flow are great on these kind of investments I would say buying a single semi detached house is akin to investing with a business partner.
Regardless of what you do, want to do or your financial circumstances with a investment of this kind, you will always be directly affected by the other owner (assuming you dont own both sides) and possibly their own financial circumstance.
Quite possibly you circumstances or strategy validates that the numbers can measure up on buying a single semi for your goals in the now but it can possibly mean less options in the future. Considering that alot of these properties in the Elizabeth area were built in the 1950-70's do you want to get stuck repairing and repairing and repairing a very old house because the owner occupied or the un-financial( or they might simply have more profitable endeavors elsewhere) investor next door does not "want" to redevelop when it suits your interests down the track.
there are alot more what ifs from buying a single semi. I would say look at the ROI and work out if you are comfortable with the trade off.
Ricky
I am settling on a pair in Smithfield next week and while the cost vs cash flow are great on these kind of investments I would say buying a single semi detached house is akin to investing with a business partner.
Regardless of what you do, want to do or your financial circumstances with a investment of this kind, you will always be directly affected by the other owner (assuming you dont own both sides) and possibly their own financial circumstance.
Quite possibly you circumstances or strategy validates that the numbers can measure up on buying a single semi for your goals in the now but it can possibly mean less options in the future. Considering that alot of these properties in the Elizabeth area were built in the 1950-70's do you want to get stuck repairing and repairing and repairing a very old house because the owner occupied or the un-financial( or they might simply have more profitable endeavors elsewhere) investor next door does not "want" to redevelop when it suits your interests down the track.
there are alot more what ifs from buying a single semi. I would say look at the ROI and work out if you are comfortable with the trade off.
Ricky
http://www.realestate.com.au/property-house-sa-elizabeth+east-110809163
What you all think? Any locals care to comment or any inspected this place?
What you all think? Any locals care to comment or any inspected this place?
I have been watching this property for a few months now.
It is in a nice quiet location. Looks to be nicely renovated inside. Verandah, carport and double garage are all pluses.
Had thought it was overpriced at 229k, but at 200k, while it is closer to the mark - probably still about 10k too much in my opinion - but at the same time there are not too many priced under 200k in today`s market.
Stangman.
It is in a nice quiet location. Looks to be nicely renovated inside. Verandah, carport and double garage are all pluses.
Had thought it was overpriced at 229k, but at 200k, while it is closer to the mark - probably still about 10k too much in my opinion - but at the same time there are not too many priced under 200k in today`s market.
Stangman.
It is apparently 230/pw, the tenaents been there for a while now
Based on this, its less than 6% even at 200k
Agreed - Those numbers are not great.
How about something like this?
http://www.realestate.com.au/property-house-sa-elizabeth+east-114341723
If it could be bought at 180k and rented at $245-$250 per week may be worth considering. Numbers would be much better.
Stangman.
How about something like this?
http://www.realestate.com.au/property-house-sa-elizabeth+east-114341723
If it could be bought at 180k and rented at $245-$250 per week may be worth considering. Numbers would be much better.
Stangman.
