I came across an interesting deal over the weekend, if anyone wants further details, feel free to drop me a message:
I was doing a drive-by of one of my IPs because I was in the area. Two doors down was a similar house for sale. Rang the agent and organised an inspection. The property details are:
3 br townhouse.
4 years old.
ensuite & WIR off master bedroom.
BIR in other two rooms.
single garage.
About 12km from Melbourne city, south eastern suburb.
Good location, central to a major shopping centre, schools, Monash Uni and public transport. The rear boundary is on a main road however.
The asking price is $320k, but I got a strong indication that this is negotiable. The reason I feel that this is a good deal is because a similar property sold a few days ago (through another much better agent) for $370k. My guess is that this property is probably worth around $350k.
The rental would probably be around $300/wk. This may be a bit weak, but I think that $30k+ of equity offsets that. I also believe that the suburb has good long term growth prospects. There's also a lot of depreciation still available in the property. The vendor is selling because they've outgrown the house (three kids).
I'm not representing anyone in this deal, I just saw it on a drive-by. I don't want the deal myself, because I already own property in that street and don't want to be over-exposed to a particular area, especially at the street level. I'm actaully disapointed that the agent is selling at this price, because it may devalue my property.
I don't want to disclose the address in a public forum. I am willing to give it to anyone who asks via private email or phone.
I was doing a drive-by of one of my IPs because I was in the area. Two doors down was a similar house for sale. Rang the agent and organised an inspection. The property details are:
3 br townhouse.
4 years old.
ensuite & WIR off master bedroom.
BIR in other two rooms.
single garage.
About 12km from Melbourne city, south eastern suburb.
Good location, central to a major shopping centre, schools, Monash Uni and public transport. The rear boundary is on a main road however.
The asking price is $320k, but I got a strong indication that this is negotiable. The reason I feel that this is a good deal is because a similar property sold a few days ago (through another much better agent) for $370k. My guess is that this property is probably worth around $350k.
The rental would probably be around $300/wk. This may be a bit weak, but I think that $30k+ of equity offsets that. I also believe that the suburb has good long term growth prospects. There's also a lot of depreciation still available in the property. The vendor is selling because they've outgrown the house (three kids).
I'm not representing anyone in this deal, I just saw it on a drive-by. I don't want the deal myself, because I already own property in that street and don't want to be over-exposed to a particular area, especially at the street level. I'm actaully disapointed that the agent is selling at this price, because it may devalue my property.
I don't want to disclose the address in a public forum. I am willing to give it to anyone who asks via private email or phone.
