Good news story
- Thread starter Nathan
- Start date
Yeah, I laughed at that too. It should be up at GHPC forum in no time.
Good news for some, bad news for others.
See ya's.
The D&Gers are saying the big bust is still coming. Scamp I think is still saying 80% over on PI - the D&Gers really need to reign him in because he's making them look a bit silly. The reality is that property in SOME AREAS of Sydney has been deflating for years. And some other areas will deflate. I'm seeing a few people who feel the 40%+ drops in the outer areas have brought those properties down to a point where they are good buying and they are quietly picking them up.
Scott
Far out that's an amazing yield.. and for Sydney after all.
The property looks to be in pretty good condition as well, and with a back yard.
I think there will be some handy property fortunes built out of Western Sydney in the next decade, hard to imagine yields getting much better than this deal anyway.
The property looks to be in pretty good condition as well, and with a back yard.
I think there will be some handy property fortunes built out of Western Sydney in the next decade, hard to imagine yields getting much better than this deal anyway.
It's a great buy!
Anything is only worth what someone else is willing to pay for it.
An optimist paid 310K, a D&Ger could've got it for less than half.
This is not likely to be the last desperate mortgagee sale, so for a D&Ger like me, it means I can now go out and start looking for some IPs and my patience has been rewarded.
Anything is only worth what someone else is willing to pay for it.
An optimist paid 310K, a D&Ger could've got it for less than half.
This is not likely to be the last desperate mortgagee sale, so for a D&Ger like me, it means I can now go out and start looking for some IPs and my patience has been rewarded.
Would love to know who the mortgagee is. If this place went under the radar, the mortgagee is acting unethically and unprofessionally in not trying to get true market value. The mortgagor is really getting stiffed.
The mortgagee is also revealing that prices can only soften further, if they let it go at this price. Talk about passing the hot potato.
Of course, the mortagagee might be motivated by cash flow issues.
The mortgagee is also revealing that prices can only soften further, if they let it go at this price. Talk about passing the hot potato.
Of course, the mortagagee might be motivated by cash flow issues.
I think the true D&Ger would be scratching for an excuse about why you were doing the wrong thing by buying now.
Nathan, I'd appreciate you letting us know what rent you get for it. Just looking at rea.com now and there's 7x 3/1/1 houses renting under $250 per week.
A couple of 3/1/1 houses for sale in the high 1s, so seems like it went under true market value.
Did the other bidder bid?
A couple of 3/1/1 houses for sale in the high 1s, so seems like it went under true market value.
Did the other bidder bid?
www.onthehouse.com.au free sales reports is where he would have got that from ernie
the place has been advertised on rea.com for weeks, and it popped up in a few emails i automatically get from the agent each week.
Funnily enough the only 2 people that rocked up where both SS frequenters
I don't think it went under the radar, I just think its the result of an Auction in a depressed market in a not so popular area which is having enough problems selling property private treaty, let alone in sale where you don't have oppurtunity to really do much DD on the building.
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Excellent buy, Nathan !
Wow, that's a really good buy, Nathan. Thanks for sharing.
Cheers
Wow, that's a really good buy, Nathan. Thanks for sharing.
Cheers
