Elizabeth Downs -Hot lead for low cost Mortgagee Sale

hhhehmm...sorry to change the topic but I think a question in my last post was overlooked.

Anyone doing granny flats in the area?

Im currently speaking with council to find out costs and what needs to be done for approval. Happy to report back with any findings if anyone interested (will start a new thread)

they allow up to 60sqm and can be a removable one as long as its bolted to the subfloor or piers. Throwing a cheap 1/2 bedder in your backyard could be a great low-cost way to increase cashflow while waiting for the right time to develop these big blocks, no?

anyone doing it?

Alex
 
ive yet to see anyone do it unless it was a owner occupier wanting to put something out for the teenage kids or grandparents,

taht being said, the innovators who do it first often benefit in many things in life

that being said, I think people are going to be turned off having it in the backyard hence renting the front place out will be harder and you will have to drop the rent especially if there is strangers in yoru backyard,
GFs in the back yard usually have demand when there is little supply or too much demand or if its too expensive
 
im sure I will encounter the standard problems you get with a granny flat (e.g. must reduce house rent etc.) But if I can do it cheap enough I would enjoy a little cash flow.

Will post back with results once its all done
 
How much will the GF cost?

You will receive rent sub semi prices, so I doubt their will be enough return to justify the costs. GF costs are not location specific, so are best utilised in higher median areas which attract higher $ value rent. Putting it in the lowest rent value in metro Adelaide will provide the lowest return...
 
CJay said:
How much will the GF cost?

You will receive rent sub semi prices, so I doubt their will be enough return to justify the costs. GF costs are not location specific, so are best utilised in higher median areas which attract higher $ value rent. Putting it in the lowest rent value in metro Adelaide will provide the lowest return...
Click to expand...

under 20k im aiming for (it will be of the transportable type and I work in the building industry so I have a few leads to help)

your right about GF in higher yielding areas, but if can do it without a loan the cashflow would be nice
 
Guys, I just came across some information..
It appears that there has been hardly any CG in this area since 2007, can anyone comment pls
 
A lot of properties climbed significantly above '07 levels, only to crash back to previous prices in '11 to early '12. It hasn't been a flat stagnation of prices, more boom overshooting and correcting.
 
557 mnr

Anon_ said:
I think these are quite good


http://www.realestate.com.au/property-house-sa-elizabeth+downs-114694871
Could be interesting. I have not seen a mortgage auction on an almost new before. Land size not worth mentioning though. Anyone have a clue on what this could go for?

http://www.realestate.com.au/property-house-sa-elizabeth+north-114690875
Full size on large land. 160k if you're lucky.

http://www.realestate.com.au/property-house-sa-davoren+park-114676823
I would expect you could get this for borderline 100k

http://www.realestate.com.au/property-duplex+semi+detached-sa-davoren+park-114610699
Double
Click to expand...

Got the MNR one. Settled today. Bit of repairs to be done but mainly want the land. Noise isn't that bad because it's a fair distance away from the main road.
 
Hey guys off topic but does anyone have any contacts for a kitchen installer around Adelaide?

I want to get a quality kitchen but don't want to spend 15-20k from
A kitchen builder like yeoman Haskell etc

Anyone have a another way to get similar quality for cheaper?
 
Joeyv said:
Hey guys off topic but does anyone have any contacts for a kitchen installer around Adelaide?

I want to get a quality kitchen but don't want to spend 15-20k from
A kitchen builder like yeoman Haskell etc

Anyone have a another way to get similar quality for cheaper?
Click to expand...

Pretty sure Cjay had a contact for some good priced kitchens from memory.
 
Prices coming off the boil?

After the buying frenzy a couple of months back things look to be slowing up a tad?

This property at Elizabeth East was listed at 189k + a couple of months ago, now 179k plus -

http://www.realestate.com.au/property-house-sa-elizabeth+east-114341723

Has had 1,774 page visits. Surprised it has not sold.

At 179k i think it is value buying.

Here is another in Elizabeth East -

http://www.realestate.com.au/property-house-sa-elizabeth+east-114495931

It is a nice looking property in a good street. Probably still just a tad overpriced.

The houses in Ballard st finally sold. No.31 at 192k and No.23 at $186,250.

Had been looking for a renovator at Ingle Farm or Para Hills, but prices had gone crazy. Not going to pay anything like 300k in those suburbs, hopefully prices drop there too.

Stangman.
 
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