Fire Damaged House...but wait for it.........

Discussion in 'Living Room' started by eKwatee, 28th Oct, 2015.

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

    eKwatee Member

    Joined:
    18th Jun, 2015
    Posts:
    12
    Location:
    Adelaide
    .....wait for it, check out the address '2 Burns Street, Waikerie' see link here
     
    eKwatee, 28th Oct, 2015
    #1
    wombat777 likes this.
  2. D.T.

    D.T. Specialist Property Manager Business Member

    Joined:
    3rd Jun, 2015
    Posts:
    9,189
    Location:
    Adelaide and Gold Coast
    Surely the only worthwhile project here (if any?) would be to knock it down and build a new place.

    Therefore the theoretical price should be land value minus clearing costs. This then gives you a block you can do whatever you want with.

    How did you come across this, are you searching for a project out in the middle of no where? :p
     
    D.T., 28th Oct, 2015
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    Looks like smoke damage in most rooms, the main area where the fire was the studs look OK but needs closer inspection, the roof trusses are burnt through.

    Strip all the plasterboard, waterblast bathroom/regrout, clean kitchen, new carpet. Repaint and flip.
     
    Scott No Mates, 28th Oct, 2015
    #3
    Greyghost likes this.
  4. Stu

    Stu Well-Known Member

    Joined:
    18th Oct, 2015
    Posts:
    100
    Location:
    Perth
    And maybe check for drug residue - looks like a fairy intense burn in one area.
     
    Stu, 28th Oct, 2015
    #4
  5. Corey Batt

    Corey Batt Well-Known Member

    Joined:
    14th Jun, 2015
    Posts:
    2,091
    Location:
    Adelaide, SA
    Corey Batt, 29th Oct, 2015
    #5
  6. Xenia

    Xenia Well-Known Member

    Joined:
    16th Oct, 2015
    Posts:
    3,863
    can't wait to see what's awaiting me at 2 sextant ave? LOL
     
    Xenia, 29th Oct, 2015
    #6
    TMNT and jim1964 like this.
  7. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    11,676
    Location:
    Newcastle
    A friend should have been a visitor not a resident at 2 Wrest St.

    But next door would have been hard to find. You couldn't set the trees for the 4 Wrest.
     
    geoffw, 29th Oct, 2015
    #7
  8. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    I can see it in the stars.
     
    Scott No Mates, 29th Oct, 2015
    #8
    Xenia likes this.
  9. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    Is that next to the drug house at 2a Wrest St?
     
    Scott No Mates, 29th Oct, 2015
    #9
    geoffw likes this.
  10. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    11,676
    Location:
    Newcastle
    Actually that was in a reasonable area near some low cost housing, apartment blocks notorious for drug use and high crime.

    When the unit blocks started to get pulled down, surrounding house prices went up something like 25% very quickly.
     
    geoffw, 29th Oct, 2015
    #10
  11. jim1964

    jim1964 1941

    Joined:
    18th Jun, 2015
    Posts:
    1,300
    Location:
    Westcoster Strahan Tasmania
    jim1964, 29th Oct, 2015
    #11
  12. geoffw

    geoffw Moderator Staff Member

    Joined:
    15th Jun, 2015
    Posts:
    11,676
    Location:
    Newcastle
    There was the scout hall in Lamington Drive.
     
    geoffw, 29th Oct, 2015
    #12
  13. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,225
    Location:
    Sydney or NSW or Australia
    Scott No Mates, 29th Oct, 2015
    #13