You can spot them - they come up on re.com.au or domain and you just know they're not going to sell fast. The sort where you look at it and go "nah, there's gotta be something terribly wrong with that house, ewww, why would anyone buy THAT"
Ours was listed for about $80k for well over a year and we were ignoring it because the price was soooooo below all the other listings (all in mid 100s-high 200s). It wasn't listed as subdivisible. The ad had a spelling mistake in the title. They took our offer of $65k. I've seen several other houses come and go that would have been worth getting and fixing up but we aren't in a position to buy.
Now we have a house worth in the mid-high 100s and a block of land worth $50k for an outlay of about $30k, and the option to build new on the land. If we could repeat this just once or twice again we could be set for life.
Ours was listed for about $80k for well over a year and we were ignoring it because the price was soooooo below all the other listings (all in mid 100s-high 200s). It wasn't listed as subdivisible. The ad had a spelling mistake in the title. They took our offer of $65k. I've seen several other houses come and go that would have been worth getting and fixing up but we aren't in a position to buy.
Now we have a house worth in the mid-high 100s and a block of land worth $50k for an outlay of about $30k, and the option to build new on the land. If we could repeat this just once or twice again we could be set for life.