200k positive/ neutral cf where would you buy?

Discussion in 'Where to Buy' started by Mabelle20, 6th Apr, 2016.

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  1. JenJen

    JenJen Well-Known Member

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    No no, quite the opposite. I was referring more to the approach and issues outlined by SeaChange: prices, floods and soil issues, vacancy rates, body corps etc. More of a research based decision-making process based on comparison and elimination, which I agree with. How do you know where best to invest until you have considered all the options, issues, pros and cons?

    Cheers

    Jen
     
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  2. jins13

    jins13 Well-Known Member

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    Hi Corey is Salisbury East the ideal option?
     
  3. Corey Batt

    Corey Batt Well-Known Member

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    Salisbury East is a good area to target in general - but on that budget you'll struggle as most of the houses are 250-320k.
     
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  4. Xenia

    Xenia Well-Known Member

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    $200,000 and positive cashflow - Playford council area, Adelaide.
     
  5. Elives

    Elives Well-Known Member

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    how do you check for mining / reactive soils? and will your conveyancer actually point this out to you in the searches? i feel like all the conveyancers do is adjust rates and water. and anything else they just print the searches off and give them to the buyer (who wouldn't know what to look for) thoughts?
     
  6. See Change

    See Change Well-Known Member

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    MasterView 2.0 Person Master

    Go to property search . There's a map feature with a series of overlays that cover flood , mining , noise impact etc .

    We've asked agents about reactive soils and they will happily tell you which other suburbs have a problem with reactive soils .

    All of the places we've bought have been old properties so if there was a serious issue with the soil , after 30-40 years s I've assumed it would be obvious . Maybe that nieve ...

    We did see a couple of places with serious cracking problems which we avoided .

    My experience is that the agents are pretty honest nowadays it terms of disclosure in particular if you ask a specific question . It's their livelihood at stake if they lie ....

    A couple of times I enquiried about seemingly cheap properties near Ipswich and I asked are there any issues with the property . The agents were quite open about it being on reactive soils and needing work .

    I assume you can get testing done , but we've never had somewhere where we thought it was necessary .

    I would assume it's more of an issue with house and land packages ...

    Cliff
     
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  7. Luke T

    Luke T Well-Known Member

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    Hi Mabelle and guys ,

    under 200k and looking for capitol growth is getting hard but
    their are still a few not far from cbd ipswich (and not in flood zones).
    The area is getting expanded (military etc)so should see some growth in the next 3 years .
    Some can be rented as is but have a few grand ready for a tidy up .
     
  8. Mabelle20

    Mabelle20 Well-Known Member

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    Wow. Thankyou everyone for your excellent feedback and advice. I've been away so hadn't seen it all. Will continue on with search
     
  9. Melbpositivegeared

    Melbpositivegeared Well-Known Member

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    I love Whittington and have been contemplating getting in there for a while. My little sister has just hit 18 and with very limited funds she's on the same search as you.
    We recently looked at one that sold for $220k that had a stable long term Tennant (7 years) and a floor plan ideal for converting from a 3 bedder to 4 to possibly add some value. A good Reno could have brought it up in value too.

    My thoughts are if you can buy something within 5km of a CBD for around the $200k mark surely it will see some growth. It has been moving a lot slower than Geelong itself- but I reckon it can't stay that low for too long
     
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  10. Mabelle20

    Mabelle20 Well-Known Member

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    Thanks for your response. I would be looking at long term (20-25) so I figure I'd be pretty unlucky to go backwards wherever I bought! Assuming that initially it was a property which was neutral, then taking into account rental increases over the years, at the very least the property would be paid off by tenants. Just need the confidence to actually do it!!!! Glad you think Whittington is a viable option.