Join Australia's most dynamic and respected property investment community

how much it would fetch

Discussion in 'Where to Buy' started by samiam, 11th Jul, 2016.

  1. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    523
    Location:
    on my way
    Pumpkin and Perthguy like this.
  2. Greyghost

    Greyghost Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    1,259
    Location:
    Melbourne
    Location is good.
    Small block.
    Money needed.
     
    samiam and Perthguy like this.
  3. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    This was my kind of house but I think the concrete foundation is more problematic than if it were on stumps.
    There are obvious drainage issues with water pooling on the downstairs slabs. I'm not clever enough how to fix these to make the downstairs habitable. Otherwise, downstairs at eyeball looked to be of legal height so there is some potential there.(Although I was told it's not)
    Upstairs is all gold, easy cosmetic improvements
    I'm not in a position to buy with the associated costs of improvements either, so I moved on. It might sell as low as 450k looking at the nicer 2 bedroom in the same street (22 Dunellan), but the latter having far less potential.
    Great position though. You will get some hospital traffic/parking, but far enough away from the worst of it.
     
    samiam and Perthguy like this.
  4. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    Pumpkin likes this.
  5. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    523
    Location:
    on my way
    I am thinking bet 450-500, 450 would be a steal
     
  6. John Bone

    John Bone Well-Known Member

    Joined:
    9th Feb, 2016
    Posts:
    62
    Location:
    Melbourne
    The price range in the advertisement is $550k to $650k
     
  7. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    650 is laughable.
     
  8. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    523
    Location:
    on my way
    early 500 max would be more realistic I think
     
    Bran likes this.
  9. Pumpkin

    Pumpkin Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    142
    Location:
    Brisbane
    Nice find, nice area, can be worst house on best street? Following...
     
    samiam likes this.
  10. Pumpkin

    Pumpkin Well-Known Member

    Joined:
    27th Jun, 2015
    Posts:
    142
    Location:
    Brisbane
    @Bran :
    The number 28 would have worth a lot of money!
     
  11. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    Yep
    The water was a concern as it hadn't even rained recently. Might be an easy fix, might not.

    Greenslopes is awesome.
    Farmer's Markets start at the State School in about 2 weeks.
     
    Pumpkin likes this.
  12. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    523
    Location:
    on my way
    I know! wish I could buy this :( ... committed elsewhere
     
    Pumpkin likes this.
  13. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    Maybe I should take another look ;)
    If it is going to go cheap enough...
     
  14. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    @samiam - can you tell us why you like it?
     
  15. samiam

    samiam Well-Known Member

    Joined:
    5th Sep, 2015
    Posts:
    523
    Location:
    on my way
    I have been following inner south Brisbane...
    Like the suburb
    Like the location; proximity to hospital, amenities, stone corner- bustling well by Syd standard :p.. and the list goes on, will do very well in a long term
    Property is at the entry level
    Currently not much competition (so the agent says), being auction in Brisbane, weekdays opens
    Like to think trustee sales are a bargain! But could be wrong..
    If I am buying it, quick cosmetic, rent out cheap and wait till numbers got right to develop. It's a skinny block but could buy out neighbours :cool:
     
    Last edited: 12th Jul, 2016
    Pumpkin likes this.
  16. Bran

    Bran Well-Known Member

    Joined:
    20th Jun, 2015
    Posts:
    3,212
    Location:
    At work
    These are my thoughts exactly. It's just not the right time for me. But there were heaps at the weekday open I went to
     
    samiam likes this.
  17. wylie

    wylie Moderator Staff Member

    Joined:
    18th Jun, 2015
    Posts:
    2,924
    Location:
    Brisbane
    Is that a good number?
     
  18. melbournian

    melbournian Well-Known Member

    Joined:
    2nd Sep, 2015
    Posts:
    1,311
    Location:
    melbourne
    anything with a 8 is good, 4 is maybe not good.
     
    Pumpkin likes this.
  19. vbplease

    vbplease Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    525
    Location:
    Brisbane
    At least its not in a flood area so there is requirement for the lower level to built above a certain height.. Counting the blockwork it looks to be legal height under.. but the slab would most likely need to come up as its highly unlikely to comply with current code.

    The thing with the public trustee auctions is they have a professional valuation done beforehand and if they don't meet reserve at auction, they don't sell. So there is no possibility of getting a "bargain". Unless it sits for months they may drop the price a little.. Low 500's is no chance in my opinion.. more likely high 500, reserve may even be 600 if they have been over generous.

    Not sure if its heritage listed? It's a dud if it is.. internal walls look fibro so no character.. unless they've lined over the VJ.
     
  20. hash_investor

    hash_investor Well-Known Member

    Joined:
    11th Oct, 2015
    Posts:
    912
    Location:
    Sydney / Canberra
    for the vendor?