Latest purchase in QLD

[dickle]

Bought this a few weeks back with asking price at $309,000.
Managed to snap it up for $275,000.
Requires some fiddly things to be done to it, but no major work that I can see.

http://www.realestate.com.au/property-house-qld-waterford+west-119124579

Would expect this property to go for somewhere between $320,000 to $340,000 in a few months time. Haven't seen many 4 bedders in Waterford West to sell for under $280,000 so I thought this was a steal after negotiations. I could be wrong? Thoughts?

Was previously purchased for $350,000 at it's peak.

This was purchased under my SMSF, so I wouldn't be able to reval and pull out any equity to reinvest. But can't complain as it's positively geared from day one even with an interest rate of 5.74% with St George.
Was informed yesterday that if I were to have some sort of water device installed by a plumber, it'd cost me $100 and water rates will be then onus on the tenant which was news to me. Will be opting to do this and have some extra $$$ saved quarterly.

Wish there was a way to pull out equity within SMSF to reinvest

 

[marg4000]

Was informed yesterday that if I were to have some sort of water device installed by a plumber, it'd cost me $100 and water rates will be then onus on the tenant which was news to me. Will be opting to do this and have some extra $$st

You will be responsible for the water rates, but will be able to pass on water usage charges to the tenant under certain conditions. You will pay the standard charges.
Marg

 

[Beanie Girl]

I noticed this house when it was first advertised. Congrats on the purchase! She's a beauty! Ripper price, great location. You've done well. Are you planning on adding an auxiliary unit later on?

 

[Rixter]

Congratulations Dickle..well done on taking another step forward up the wealth building ladder.

 

[ZachAnSel]

That's good deal!!!

Brissy soon will be take off. Welldone Dickle

 

[ZOMG]

Well done Dickle! I'm currently settling on a property in Waterford West too, hope the area goes boom boom boom!

 

[JT87]

Congrats! Well done.
I'm settling in waterford west ATM too.

 

[wombat777]

Congrats - an area for me to start researching.

 

[Moneyman_85]

Just a querry on big backyars like this, do people keep these as is and let the tennant mow it do they get a contractor in like Jim's mowing?

 

[hugh72]

Its just a standard size block and is the tenants responsibility, I wouldn't expect too much though. As a general rule tenants and gardens don't mix

 

[coastal]

What indicators do you base your growth prediction on?