Adelaide buyers agent DaveM success!

Discussion in 'The Buying & Selling Process' started by bob shovel, 19th May, 2016.

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  1. Mumbai

    Mumbai Well-Known Member

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    Well, then let me piggy back on this thread to publicly on PC say a very late yet well deserved THANKS to @Beanie Girl . Helped me get my only interstate property (bought in 2014) with selfless guidance. Had a CG run since I bought it :)
     
    Mumbai, 20th May, 2016
    #21
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  2. bob shovel

    bob shovel Well-Known Member

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    Yep! That was one of my questions. ..."would you buy it? " :D so i had to give a very quick yes so he didn't rustle up some funds lol
     
    bob shovel, 20th May, 2016
    #22
  3. bob shovel

    bob shovel Well-Known Member

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    Looking good! Is it the same as the colour you used?

    I wasn't fussy with colours and happy with any of the 50 shades of grey to be installed ;)
    Dt was onto everything and one step ahead of me with all my questions so it's been a very easy process!
     
    bob shovel, 20th May, 2016
    #23
  4. WattleIdo

    WattleIdo midas touch

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    great numbers, well done! No wonder you're excited. :)
     
    WattleIdo, 20th May, 2016
    #24
  5. S1mon

    S1mon Well-Known Member

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    good work guys, nice yield!

    hope Dave gave you a discount for this thread!:rolleyes:
     
    S1mon, 20th May, 2016
    #25
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  6. datto

    datto Well-Known Member

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    Onya dave.

    8% return. Everyones got to be happy with that!
     
    datto, 20th May, 2016
    #26
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  7. Phantom

    Phantom Well-Known Member

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    Everyone except the tenant. :p
     
    Phantom, 20th May, 2016
    #27
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  8. DaveM

    DaveM Well-Known Member

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    No discount, but I did promise him a dinner with @datto at Emerton Maccas
     
    DaveM, 20th May, 2016
    #28
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  9. datto

    datto Well-Known Member

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    After a dip at the Aquatic Centre 'cross the road.lol.

    [​IMG]
     
    datto, 20th May, 2016
    #29
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  10. Seal

    Seal Well-Known Member

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    Hi Bob,
    I'd love to know the details of where you decided to go for this, ie suburb and what criteria Dave gave you. I will need to get something similar in yield.
    Would you be willing to share via PM
     
    Seal, 16th Jun, 2017
    #31
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  11. D.T.

    D.T. Specialist Property Manager Business Member

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    Funny this thread came up again, I'm standing in it right now while i type this, waiting for new tenants to arrive. Seventy something's are about to move into their forever home.
     
    D.T., 16th Jun, 2017
    #32
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  12. Brady

    Brady Well-Known Member

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    I don't know the suburb, but can tell from the style of dwelling where it would be approx.

    If purchased <$200k and it's a 3x2 it would be worth >$200k

    Good buy, what's the rent going to be @D.T.
     
    Brady, 16th Jun, 2017
    #33
    bob shovel likes this.
  13. D.T.

    D.T. Specialist Property Manager Business Member

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    275 a week on centrepay
     
    D.T., 16th Jun, 2017
    #34
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  14. bob shovel

    bob shovel Well-Known Member

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    My rates are significantly more than a BA :D

    I looked recently so not sure where things are sitting but @Brady is on the money. Around 220k now id think
     
    bob shovel, 16th Jun, 2017
    #35
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  15. bob shovel

    bob shovel Well-Known Member

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    I had my criteria and dave understood what i was after
    I wanted cf+ of 7%+
    Budget was around 250k from memory
    Free standing House. Not looking for future dev potential or anything fancy as those were asking for a $premium and hurt the yield. I wanted set and forget

    As for deals that are around now I'm really not sure. You'd be best to talk to Dave ;)

    As for the rental side just had a troublesome tenant removed and new going one in. (Goes with the territory :)) @D.T. has been managing and done an awesome job! I have been kept up to date and he has been 3 steps ahead of the tenants and the system with all the legal mumbo jumbo! It has been a long drawn out process as the tenants kept hanging in there with payments etc but for me being interstate i have not been worried at all. ... just frustrated and ****** off with them lol :D also ebm insurance has covered the short fall and i shouldn't be out of pocket for loss of tent or vacancy. Worst case 2 weeks but in the scheme of things I'm well ahead with the service!!
     
    bob shovel, 17th Jun, 2017
    #36
  16. Seal

    Seal Well-Known Member

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    Thanks Bob. Are you happy to share suburb?
     
    Seal, 17th Jun, 2017
    #37
  17. Seal

    Seal Well-Known Member

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    :)
     
    Seal, 17th Jun, 2017
    #38
  18. bob shovel

    bob shovel Well-Known Member

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    Keep researching adl and you'll work it out;)
     
    bob shovel, 18th Jun, 2017
    #39
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  19. spludgey

    spludgey Well-Known Member

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    Congrats on the purchase, however I find it odd using a BA for such a low value property. BA fees are likely to be at least 5% of the purchase price and if you assume an 80% LVR, your out of pocket expenses actually increase around 20% (5% closing costs assumed). It obviously gets even more extreme with higher LVRs.

    There's a place with the exact same floor plan one street away listed for $185k (though to be fair it's in not as good a condition going by the pictures), so personally, I struggle to see the justification for a BA in this case unless you value your time to the tune of thousands of dollars for doing the legwork.

    Sorry for being a naysayer.
     
    spludgey, 18th Jun, 2017
    #40
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