Potential Bargains to Share Thread

[Holmes2012]

$200k would have been a bargain,

$225k, still is pretty good, a good long term holder !

Is it? What does Acid Sulfate Soils Area mean? That property, and probably many others near rivers are affected by it. Not sure what it does really but any negative connotation associated with a property could affect capital growth.

 

[cu@thetop]

I'm not in the market to buy anything but when I'm bored I still look up realestate to see what's on the market.

I thought I'd start a thread and put some links up to properties that I find with some potential to be bargains in case anyone wants to keep an eye on them if they are in the market.

This is one that I spotted today:

http://www.pt.qld.gov.au/real-estate/properties/25-Chalfont-Street--Cnr-Cubbit-Street-Salisbury.html

It's in Salisbury (10k's from Brisbane CBD). Close to griffith university. And in need of a renovation and it's a public trustee auction. So it may go below market value. It won't have developer interest inflating the price because it's only a 615m2 block, and the house looks like it has potential to create additional bedrooms by changing the layout inside with a few new walls, but until I see a floorplan I can't be sure of this. Also you could raise it and build in underneath. Meaning there is potential to get 5 bedrooms and rent them $160 each to uni students at the nearby university.

I think it would be a good buy if you could get it for around $350 000 and easily make a 4th or 5th bedroom if the current layout allowed for this.

Even with just 4 bedrooms the place will bring in $640 per week, minus about $80 per week to allow for internet, electricity, and water, which you would have to supply yourself. After interest and rates and insurance you would probably be positively geared and profit $8000 per year (self managed). Get a 5th bedroom out of the place and you'd be looking at $15000 profit per year. Renovated that house would also be worth about $420 000, so there is possibly room to make initial capital gain as well.

OR some idiot will pay over $400 000 for it at auction when they shouldn't and the above scenario is null and void.

Anyway that's just one that I found and others may be interested in.

RP Data tells me that sold for $375500 at the Public Trustee auction. Do you feel that was a good buy at that price?

 

[mikezen]

A good cheapy today

http://www.realestate.com.au/115000891

 

[Tim86]

http://www.pt.qld.gov.au/real-estate/properties/128-Fingal-Street-Tarragindi.html

that may go cheap, and with 4 bedrooms would make a good return with $150 per room.

 

[willair]

Went for a walk past this one in Moorooka this afternoon,just had a look i'm not interested but someone else might be,btw never talked too the agent and have no interest in the property..

http://www.realestate.com.au/property-unitblock-qld-moorooka-115162515

 

[saiman]

wow almost 6500 views...

desperation or laziness??

I'll remember to put my properties in this thread should I ever need to sell

 

[Tim86]

wow almost 6500 views...

desperation or laziness??

I'll remember to put my properties in this thread should I ever need to sell

Who knows, lots of people looking for a bargain

With that in mind I would be jumping at this one:

http://www.realestate.com.au/property-house-qld-annerley-115254279

You'd make the dinning room, lounge, and office a 3rd, 4th and 5th bedroom, then make one of the front rooms a small dinning room with a small table and chairs, and the other front room a small area for a tv and couch. You might end up with $165 per room incl elec, water, internet, in that area so close to UQ.

Say you got it for $460k, allowing $30 in bills for each room, that's still a return of $675 per week, = 7.6% Which is about $12 000 positively geared each year, plus it's in Annerley which is a good inner city suburb so good chances of capital growth.

Would require $4000-$5000 diy reno and to put in some walls here or there. But if you are handy and you don't mind self managing, then it would be a good buy.