WA Bedford, WA

Discussion in 'Where to Buy' started by Perthguy, 26th Oct, 2015.

Join Australia's most dynamic and respected property investment community
  1. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Perthguy, 26th Oct, 2015
    #1
  2. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,878
    Location:
    My World

    First link will possibly be a main road, dead give away no address.

    Second link, location OK.

    However, which option makes money??
    I have not looked at end values in this area recently, have you?

    I would prefer to cut up 2 green title blocks (495 sqm), 10 mtre frontage
    $35-40K costs
    Problem is end values, not enough fat, too much risk? and are there any buyers for this product today/now??? Who will pay over $500K for Bedford, I would not.

    Build 2 new homes, would need to be high spec, once again a small pool of buyers in the higher end bracket $800K+, very little profit, for so much risk. I would prefer to buy a cute cottage home in Inglewood for similar price, on smaller lot, superior location. This is the problem, in this market people are spoilt for choice, the only way its attractive is at a certain price point, no money in it for us??

    Retain house and build at rear, not in this area, not for me.

    Build apartments ? too much risk for me in this area. One bedders, too much supply at the moment everywhere for this product.

    MTR:)
     
    Last edited: 26th Oct, 2015
    MTR, 26th Oct, 2015
    #2
    Perthguy likes this.
  3. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Perthguy, 26th Oct, 2015
    #3
  4. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,878
    Location:
    My World
    MTR, 26th Oct, 2015
    #4
  5. MTR

    MTR Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    27,878
    Location:
    My World
    Its very tough market at the moment.


    I guess there will be those in Perth that are creative and can work out ways to make money, good on them:)

    I know an investor who can build 5 townhouses on his site in Willagee and conservatively can make 30% in today's market, quite amazing really.

    He sourced the right block, and it had very little to do with buying at the right price, it was more about what he understood about R codes to maximise profits and also reducing risk by building a product which is in demand - townhouses.... what the average person ignored because they did not have the knowledge. Knowledge is Power, that's a Oprah moment.

    MTR:)
     
    MTR, 26th Oct, 2015
    #5
  6. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Perthguy, 26th Oct, 2015
    #6
  7. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    I am at least 12 months out from my next buy. I just want to follow the market down so that I am well informed when it is finally the right time to buy.
     
    Perthguy, 26th Oct, 2015
    #7
  8. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    402
    Location:
    Perth
    I don't think it's the case with this one, this agent in particular is a real pain in the ass when it comes to providing addresses. He ALWAYS does it.
    Check this out - his property listings.
    http://www.realestate.com.au/buy/by-lysmou/list-1
    11 out of 18 listings with no addresses...


    I still think Bedfords too expensive.
     
    Jamie_, 26th Oct, 2015
    #8
    Perthguy likes this.
  9. Zeehan

    Zeehan Well-Known Member

    Joined:
    22nd Aug, 2015
    Posts:
    162
    Location:
    Australia
    If they don't advertise the address I know there is something wrong with it, and move on.
     
    Zeehan, 26th Oct, 2015
    #9
  10. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    402
    Location:
    Perth
    Not always, this guy blatantly does it to build up his database. As he puts in his adverts, no phone number no address. It's his way of removing tyre kickers.

    Don't get me wrong, I hate it.
     
    Jamie_, 26th Oct, 2015
    #10
  11. Zeehan

    Zeehan Well-Known Member

    Joined:
    22nd Aug, 2015
    Posts:
    162
    Location:
    Australia
    Well he will never get a phone call from me! I hate it too.
     
    Zeehan, 26th Oct, 2015
    #11
  12. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    402
    Location:
    Perth
    Just to add, bit of a slope and on a main road.. close to the park though :p
    Haven't checked zoning, but assume its R30
    http://www.realestate.com.au/property-house-wa-bedford-121106710

    Seems realistically priced

    Edit: R20/R25 - not a duplex block? or is there some density bonus for being a corner block on a main road there?
     
    Last edited: 26th Oct, 2015
    Jamie_, 26th Oct, 2015
    #12
  13. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    there's an agent that doesn't know much - re second link orig post.

    WAPC approval to build 4 apts on an R25 lot? *cough pseudo bullsh i t cough*

    I think this person means 4 single bed dwellings - but not apartments. A little single bed townhouse might actually do well here with all the downsizers from the immediate location.

    re above post - why in GOD'S NAME would you promote that as a knock down?! the market for california bungalows is massive - especially ones with in tact woodwork and rend'd kitchen / bathroom. surely you would just fence the front, create privacy and seclusion and then subdivide the rear?
     
    Aaron Sice, 26th Oct, 2015
    #13
    Perthguy likes this.
  14. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,472
    Location:
    Perth
    In this case you'd be doing yourself a disservice. This agent has sold many excellent properties with no address disclosed in the ad
     
    sanj, 26th Oct, 2015
    #14
  15. sanj

    sanj Well-Known Member Premium Member

    Joined:
    18th Jun, 2015
    Posts:
    3,472
    Location:
    Perth
    Excellent. Less competition for sites
     
    sanj, 26th Oct, 2015
    #15
    bob shovel likes this.
  16. Perthguy

    Perthguy Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    11,767
    Location:
    Perth
    Ha. I don't even read the ads, so I missed that. Have those changes been gazetted yet?

    When I looked at the pics it didn't look like a knockdown to me either. Particularly not in that area.
     
    Perthguy, 27th Oct, 2015
    #16
  17. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    402
    Location:
    Perth
    That would be the goal, but I don't think i'd be possible on R20/R25
    Too small
     
    Jamie_, 27th Oct, 2015
    #17
  18. Aaron Sice

    Aaron Sice Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    1,588
    Location:
    Ocean Reef, WA
    min size R25 is 300sqm - looks like 300sqm to the rear easy?

    changes gazetted Friday gone.
     
    Aaron Sice, 27th Oct, 2015
    #18
    Perthguy likes this.
  19. Jamie_

    Jamie_ Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    402
    Location:
    Perth
    Min 300 Ave 350, which means the overall needs to be 700~ (I.e. 300 rear and 400 front would be acceptable to retain) (not including 5% variation) and it's only just over 600. R30, no problems.
     
    Jamie_, 27th Oct, 2015
    #19
Investment properties sent straight to your inbox