Elizabeth Downs -Hot lead for low cost Mortgagee Sale
- Thread starter Stangman
- Start date
skater, you insure it at the amount the banks need you to
So what happens when the place burns down and the replace costs are higher than the suggested bank valuation you insured for?
My thoughts exactly!
Yup, so go for the calculated rebuild cost regardless of what the bank specifies as as minimum.
"Elizabeth... transformation to make it Adelaide's second CBD."
Did I accidentally tune into the comedy channel instead of Somersoft?
Whats wrong with that? Already has good infrastructure with more pending, and a good population figure.
Well insure it for replacement or bank requirement (usually higher), whichever gives you a higher amount.
Agreed, this has been going on for a while.
CBRE are doing EOI for leases on a multi storey office and retail development on one of the tracks of council land nominated in the redevelopment.
Did anyone have a look at these today?
Apparently they've had some termite damage and all the copper has been stolen, but at that price, it might be worth considering.
http://www.realestate.com.au/property-house-sa-elizabeth+east-119642527
I'm still waiting to hear back on the four semis, the longer it drags on, the less likely I think it is that I'll get them.
Apparently they've had some termite damage and all the copper has been stolen, but at that price, it might be worth considering.
http://www.realestate.com.au/property-house-sa-elizabeth+east-119642527
I'm still waiting to hear back on the four semis, the longer it drags on, the less likely I think it is that I'll get them.
Any recommendations for buyers agents who look at the Elizabeth and surrounding areas?
I was thinking the same thing!
PM sent ! Worth every cent as he can negotiate deals below market value.
Hi, guys i have followed this thread with great interest, I have noticed one area of Playford that has been largely ignored. Does anyone have any thoughts or opinions on Hillbank? It obviously wouldn't generate the same yields as the rest of Playford but is a very nicely kept suburb and would possibly reduce some of the stress of attracting respectable tenants.
There's been a couple posts on it - for the most part you're going to struggle to get 7-10% yields in Hillbank, likewise the capital growth potential isn't coming off the same low bases from the stigma complex, I just don't see anything which really jumps out as a great investment driver.
I'd personally rather purchase in the Salisbury area which has more facilities, closer to transport lines and not as much of an 'afterthought' development.
There is a nice enough development happening at the top of Hillbank right now which has been selling reasonably well, after battling through the Council/govt for so long.
Wow, 10% yield sounds incredibly high. Would that sort of yield come from renting out duplexes, maisonettes, etc... or do you have to just get a real bargain to get such a yield?
I ask because on real estate.com, rpdata, etc I've seen the average quoted at around 6 - 7%.
The average person has one breast, one fallopian tube and half an adams apple! Who wants to be average?
Joking aside - very much possible if you've bought well, however with the increased interest in the market I'd say it's getting pretty hard.
In saying that I know of one which was snapped up at a 10.4% yield just last month.
Individual semis will easily get into the high range of the yields, however I'm not a huge fan of them at all with all the associate risks or partial ownership.
Depending on the what, where and when there is room for negotiation. If you can purchase quite well you may be able to obtain a decent discount of between 5-10% off the list price but this can depend on how cold a listing is or vendors motivation etc.
I wouldn't base my search purely on list price as this is just the starting point.
Thanks for the quick reply Corey, I am a big fan of Salisbury (have a vested interest in it). What I did notice about hillbank is very little stock available for rent and also quite newish larger houses at a somewhat low median prices. I was thinking something close to the Salisbury hts section would be preferable?
"Elizabeth... transformation to make it Adelaide's second CBD."
Did I accidentally tune into the comedy channel instead of Somersoft?
Nothing wrong mate. Just that its going to be a long time before Elizabeth shakes off its reputation.
