Elizabeth Downs -Hot lead for low cost Mortgagee Sale

[Corey Batt]

Really, that's crazy

There's crazy pricing happening all over. Quite a few properties selling in the 210-240k range, which is odd considering subdivided land end $/sqm is far below the prices being paid.

This means people are either buying as PPOR's, or they're not factoring in development potential/yield for a long time.

 

[Joeyv]

Maybe interstate investors?

 

[Joeyv]

There's been some cheap houses around the place. This time of the year always brings out some bargains in Elizabeth.

Anyone bought anything recently?

 

[Swearengen]

I bought this about two months ago

http://www.realestate.com.au/property-house-sa-munno+para+west-117712635

 

[spludgey]

I bought a freestanding house in Elizabeth North for $145k just over a month ago.

 

[D.T.]

I bought this about two months ago

http://www.realestate.com.au/property-house-sa-munno+para+west-117712635

What attracts you to it?

I bought a freestanding house in Elizabeth North for $145k just over a month ago.

Good on you! What size block?

 

[spludgey]

Good on you! What size block?

740m^2, I think.

 

[D.T.]

Now you're getting it

 

[Swearengen]

What attracts you to it?


Good on you! What size block?

Good rental return and depro value and plenty of money going into improving the general area. My other ip is on a subdiv block in Perth.

 

[Anon_]

Hope everyone had a good end of year break.

I believe this one is currently under contract http://www.realestate.com.au/property-house-sa-elizabeth+park-118172083 but what kind of price would you say something like this would be for it to be a good buy?

 

[DaveM]

Hope everyone had a good end of year break.

I believe this one is currently under contract http://www.realestate.com.au/property-house-sa-elizabeth+park-118172083 but what kind of price would you say something like this would be for it to be a good buy?

Battleaxe on yorktown... not 235k. Land might be worth 60k

 

[Anon_]

Battleaxe on yorktown... not 235k. Land might be worth 60k

Had a look at rpdata .. They've been trying to sell it the last 4 years (on and off) ranging from $189k - $279k and that is all post renovation.

 

[Joeyv]

Had a look at rpdata .. They've been trying to sell it the last 4 years (on and off) ranging from $189k - $279k and that is all post renovation.

Not worth 235k if it's only on 300sqm

It's only worth its positive cash flow price in my eyes.

I think they overspent on renos and are trying to get it back

 

[irawin]

I bought a freestanding house in Elizabeth North for $145k just over a month ago.

Hi all

That's great! I noted there are new dwellings within Rosewood Village (Heywood st, Broadmeadows Road etc). Good prospect in Elizabeth North?

http://www.realestate.com.au/property-house-sa-elizabeth+north-116373687 - thoughts on this? It has been on the market for a while and has tenant.

Cheers!

 

[Corey Batt]

Doesn't surprise me at that price. You can still pick up decent properties in the area for 150-160k if you know what you're looking for.

 

[Anon_]

Just a mention .. I'm looking at starting early this year and would like to buy 1-2 more within the first term of the year .. So if you find something that looks to be a great deal, happy to pay you a finders fee if I end up buying. I will probably already know about any Eliz or recently off Affordable Homes properties though.

 

[toff90]

http://m.realestate.com.au/property-house-sa-elizabeth+east-118082791

Don't mind the looks of this for a but and hold
Long term

 

[Waldo]

http://m.realestate.com.au/property-house-sa-elizabeth+east-118082791

Don't mind the looks of this for a but and hold
Long term

Toff - may I ask what makes that particular place so appealing? Excuse the dumb question, I'm trying to learn about the area & how to pick the good properties! Is Elizabeth East considered once of the better areas?

 

[Joeyv]

Toff - may I ask what makes that particular place so appealing? Excuse the dumb question, I'm trying to learn about the area & how to pick the good properties! Is Elizabeth East considered once of the better areas?

Elizabeth Vale probably the best Elizabeth. But really it depends on the street.

This house looks alrite for buy and hold and when it's profitable develop it. If that's your strategy

 

[Anon_]

Geez check this one.. fire damaged
http://www.realestate.com.au/property-house-sa-para+hills+west-118157595