Stupidly cheap?

Discussion in 'Caveat Emptor (Buyer Beware)' started by Ausprop, 11th Jun, 2015.

  1. Ausprop

    Ausprop Member

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    Got sent this today... I have no interest, seems stupidly cheap tho?


    DECEASED ESTATE AUCTION

    THIS SATURDAY 10AM


    BUYING RANGE

    $30,000 - $40,000


    This is not a misprint!

    Warning! Be there or miss out!

    55 George Street, Bundaberg South
    Great little starter or investment. If you are wanting to get into the market this is a great starter.
    This property is perfect for first home buyers and investors looking for a project with ship load of work to do. Not for the faint hearted! Situated just walking distance to the C.B.D of Bundaberg and major shopping centre sits this sizeable home on a generous 911m2 block.?
    Don?t miss this golden opportunity. This could be a bargain of a lifetime! Call today to book your inspection as this property will be Auctioned on-site on Saturday 13th June at 10:00am!

    Michaels Real Estate
    Phone: 07 4152 1600
    Email: sales@michaelsrealestate.com.au
     
  2. Bran

    Bran Member

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  3. Ausprop

    Ausprop Member

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  4. Jamie_

    Jamie_ #1 Procrastinator

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    Never seen this valuation function on PF before...must not be used for WA (second attachment)
     

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  5. see_change

    see_change Apprentice Timing Lord

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    At 30-40 k it's worth looking at .

    How often does it flood ?

    talk to pm's in bundy and ask them is it rentable and what return ?

    when we were looking at rocky , flood prone properties were cheaper ,but not that cheap.

    i'd be more concerned about the termites

    Cliff
     
  6. marg4000

    marg4000 Member

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    Exterior photos only suggest that it is still in its post flood condition inside. Possibly demolition best option.
    Marg
     
  7. Arnoldus

    Arnoldus Member

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    30k would make it slightly above land value. Not really worth it given the demo costs, and trying to get a new dwelling on the block that could give a decent return, surely?
     
    Last edited: 12th Jun, 2015