SA Duplex Sold for $55,000?

Discussion in 'Property Analysis' started by David Thiu, 9th Nov, 2017.

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  1. David Thiu

    David Thiu Well-Known Member

    Joined:
    22nd Oct, 2017
    Posts:
    70
    Location:
    Adelaide
    Hey guys,

    Just stumbled onto the following recently:

    Click here to see...

    What do you guys think is going on here?

    Cheers,


    David
     
    David Thiu, 9th Nov, 2017
    #1
  2. DaveM

    DaveM Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    3,761
    Location:
    Adelaide & Sydney
    Its a Ken Loft special. He sells the mortgagee repossessions from Homestart etc. It would have been totally trashed to sell for that.

    And buying half a semi pair is generally a poor investment decision, despite the yield.
     
    DaveM, 9th Nov, 2017
    #2
    JacM likes this.
  3. qak

    qak Well-Known Member

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    qak, 9th Nov, 2017
    #3
  4. eKwatee

    eKwatee Member

    Joined:
    18th Jun, 2015
    Posts:
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    Location:
    Adelaide
    Heard on the grape vine, it was also the purchasers responsibility to get rid of the squatters. The property couldn't be internally inspected prior to purchase. Would say, its just land value + demo + rebuilding onto an existing maisonette + all the headaches attached. IMO, not worth it.
     
    eKwatee, 9th Nov, 2017
    #4