Not my kettle of fish unless you can buy the whole block?
Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Not my kettle of fish unless you can buy the whole block?
You have to ask yourself who rents those outer suburb 1-2 bedder units. Tenant quality will be the lowest of the low, meaning limited potential to apply upward pressure on rents. I'd hazard a guess at near on 0% owner occ's for the security type too, which won't have values rising at anything stellar either.
Spend 10-20k more and you could buy a semi-detached house at least on 400-600sqm. Still not ideal, but far better than a strata lunch box.
Spend 10-20k more and you could buy a semi-detached house at least on 400-600sqm. Still not ideal, but far better than a strata lunch box.
Craigmore Property Reno
Had the pleasure of meeting CJay a couple of weeks back. After he checked out our "in progress" reno, he took me around to see his freshly renovated Craigmore property.
CJay has done an excellent job. Very nice paint job throughout in modern colours, beautiful polished floors and very nice new kitchen. Figured it would rent very quickly and I see the listing has gone from realestate.com - so well done CJay!
We are well underway with our house renovation. That simple job of fixing a broken roof truss and levelling the floors has taken some time. We were fortunate to have a builder friend help with this job. He has repaired two trusses under a structural engineers instructions and added a lot of support to the ceiling joists -
The gyprock for the ceilings will be installed this week.
My son was busy last weekend with his newly purchased Jackhammer. The main bathroom floor had to come up because we are reconfiguring the room. The tiled floor had 6 inches of concrete underneath. What a job to get that lot up! We fitted a new floor and sheeted the walls on Friday -
Our Electrician has been busy. We are fitting 34 LED Downlights throughout the house. Very happy with the new lights -
We are planning to move in by mid November and so right now we are right on schedule.
Stangman.
Had the pleasure of meeting CJay a couple of weeks back. After he checked out our "in progress" reno, he took me around to see his freshly renovated Craigmore property.
CJay has done an excellent job. Very nice paint job throughout in modern colours, beautiful polished floors and very nice new kitchen. Figured it would rent very quickly and I see the listing has gone from realestate.com - so well done CJay!
We are well underway with our house renovation. That simple job of fixing a broken roof truss and levelling the floors has taken some time. We were fortunate to have a builder friend help with this job. He has repaired two trusses under a structural engineers instructions and added a lot of support to the ceiling joists -
The gyprock for the ceilings will be installed this week.
My son was busy last weekend with his newly purchased Jackhammer. The main bathroom floor had to come up because we are reconfiguring the room. The tiled floor had 6 inches of concrete underneath. What a job to get that lot up! We fitted a new floor and sheeted the walls on Friday -
Our Electrician has been busy. We are fitting 34 LED Downlights throughout the house. Very happy with the new lights -
We are planning to move in by mid November and so right now we are right on schedule.
Stangman.
Nice one stang
One of mine is in that suburb and potentially looking at another.
Hi DT, Thanks.
The area has everything we need and also close to the wife`s doctor. Added bonus is we will be very close to other family members.
Hope everything pans out for you with your other purchase in the area.
From TMNT -
Hi TMNT, We plan to spend around 20k on the actual house renovation, but it will not come directly out of our pockets. Our home improvement business will make a substantial contribution with the new kitchen, built in robes and roller shutters.
Also waiting for council approval to build a big garage, carport and verandah. After concreting, the bill for all that work will be around 22k.
So all told a bit over 42k, but due to the fact we bought at the right price there should still be a few dollars in it for us when we sell in a few years.
Stangman.
awesome !! $20k for that internal work is pretty darn good , well done, looks fantatstic
I went down and picked up two semis. One in Elizabeth North and one in Elizabeth Grove. One was $143k and the other was $145k. One is currently rented for $240 per week and the other one was rented for the same price previously.
I made an offer on another one, but unfortunately, that one fell through. I'm still keen to get one or two more, the returns are just too good to pass by.
But unfortunately, that will pretty much max out my land tax threshold in SA then. Might have to then start buying in my partner's name.
I made an offer on another one, but unfortunately, that one fell through. I'm still keen to get one or two more, the returns are just too good to pass by.
But unfortunately, that will pretty much max out my land tax threshold in SA then. Might have to then start buying in my partner's name.
Just be aware that some agencies are less than scruplulous down there and know it can take many months to sell semis, so they put in rubbish tenants at inflated rents to flog them to investors.
Tenants then do a disappearing act after a few months as they cant afford the inflated rents, and you find yourself with a real market rent of 200-220pw
Tenants then do a disappearing act after a few months as they cant afford the inflated rents, and you find yourself with a real market rent of 200-220pw
honestly, can anyone tell me why the PM rates and leasing fees for the general area are so darn expensive,
ive asked them before and I get the retarded answers of "oh we have to pay rent and wages for the PM"
its like they act as though they are the only agency in the country that have OMG overheads!!!
or is it a form of price collusion,
I dont see how in NSW metro where the wages and rents are far higher where they charge 5%+ gst,
some of the SA ones want 9%+ GST and wont budge
thats like mcdonalds saying they are going to charge 50% more in a certain area because they have rents to pay!!! bizzare!
ive asked them before and I get the retarded answers of "oh we have to pay rent and wages for the PM"
its like they act as though they are the only agency in the country that have OMG overheads!!!
or is it a form of price collusion,
I dont see how in NSW metro where the wages and rents are far higher where they charge 5%+ gst,
some of the SA ones want 9%+ GST and wont budge
thats like mcdonalds saying they are going to charge 50% more in a certain area because they have rents to pay!!! bizzare!
Im on 7.7 inc gst its not too bad. Far better than perth prices
Depends if you get a bulk discount too?
how many is bulk?
Mcdonalds actually does charge extra for some items on menu in Elizabeth
Just comes down to scale. Lower rents so they get less money for the same effort if they charge a comparable %. Do you think you'd find a Sydney property manager who would be willing to charge 5% if rents were $50/week?
I didnt know that, thats quite amazing,
I thought maccas pricing was teh same around the country
surely if they advertise a cheeseburger meal for $5 on tv, this would be the same everywhere
