Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
Here is another double that just came up .. Already sep titles which is big advantage.
http://www.realestate.com.au/property-duplex+semi+detached-sa-elizabeth+east-119099079
Crappily rented at $190 & $220. What I found interesting was on RPDATA 27 sold for $178,500 in 2011 and 29 sold for $180,000 in 2008.
That seems very high for basic maisonettes - especially back then. How much premium do you think the separate titles is worth?
http://www.realestate.com.au/property-duplex+semi+detached-sa-elizabeth+east-119099079
Crappily rented at $190 & $220. What I found interesting was on RPDATA 27 sold for $178,500 in 2011 and 29 sold for $180,000 in 2008.
That seems very high for basic maisonettes - especially back then. How much premium do you think the separate titles is worth?
Unfortunately I've decided against buying for the time being. It would bring my reserves down to less than $10k (assuming 80% LVR) and I've got a wedding to plan, very busy work and other life stuff going on, so I've thought that it might be best to hold off.
I know that I could do it now, if I really wanted to, but at the end of the day, I'm investing for peace of mind and this wouldn't be it.
Now I seem to myself as though I'm one of those people that always has an excuse why they can't start investing.
Hopefully prices won't go up too much in the next three months or so and then I'll buy something.
I still reckon it could be a great deal, so if anyone's interested, head down to the auction. The rental appraisal came back as between $220 and $230 each. I thought it might be a little on the high side, but $220 is probably achievable.
I know that I could do it now, if I really wanted to, but at the end of the day, I'm investing for peace of mind and this wouldn't be it.
Now I seem to myself as though I'm one of those people that always has an excuse why they can't start investing.
Hopefully prices won't go up too much in the next three months or so and then I'll buy something.
I still reckon it could be a great deal, so if anyone's interested, head down to the auction. The rental appraisal came back as between $220 and $230 each. I thought it might be a little on the high side, but $220 is probably achievable.
Any buyers here
I know a handful of parties interested in this favela-esque pair.
I notice that you can buy your back yard back too, for those concerned about valuation of semi's that have been subdivided.
http://www.realestate.com.au/property-residential+land-sa-elizabeth+downs-201109615
And this is in regards to...?
The auctions were supposedly today, but one has now a price listed, so perhaps that one didn't sell while the other one did.
I think for $200k for the lot (including land), it would be a good buy. Spend $20k doing them up and you've got yourself a great cash cow that's paying close to 10%.
You do know 17 went to auction today though right? Anyone know if it sold?
I don't think they are worth anywhere near $200k. Land size on these are terrible so you won't be able to subdivide. I would say $120-$130k?
I meant including the block out the back.
not quite eliz downs, but this is back on the market,
http://www.realestate.com.au/property-residential+land-sa-smithfield-200784675
Not too badly priced even though cashflow is poor
if you could take advantage of its business potential, might be a good site
http://www.realestate.com.au/property-residential+land-sa-smithfield-200784675
Not too badly priced even though cashflow is poor
if you could take advantage of its business potential, might be a good site
Unfortunately I've decided against buying for the time being. It would bring my reserves down to less than $10k (assuming 80% LVR) and I've got a wedding to plan, very busy work and other life stuff going on, so I've thought that it might be best to hold off.
I know that I could do it now, if I really wanted to, but at the end of the day, I'm investing for peace of mind and this wouldn't be it.
Now I seem to myself as though I'm one of those people that always has an excuse why they can't start investing.
Hopefully prices won't go up too much in the next three months or so and then I'll buy something.
I still reckon it could be a great deal, so if anyone's interested, head down to the auction. The rental appraisal came back as between $220 and $230 each. I thought it might be a little on the high side, but $220 is probably achievable.
Interesting. I would definitely consider 90% lvr in this scenario but I wouldn't have less than $50k as my buffer especially if I know I have a big event coming up. Have you consulted your other half about this?
Why in the world anyone would bother doing a hammer head subdivision in Elizabeth Downs?
- spend about $30,000 to do a subdivision/ new fencing/ clearing block
- devalue each front property about $20,000 (ish?)
So it cost $70,000 to do and the block is advertised for $70,000
There is no profit margin so why bother....can anyone enlighten me?
