OK, you've got $400k, where are you buying?

Discussion in 'Where to Buy' started by norm226, 26th Oct, 2015.

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  1. JDP1

    JDP1 Well-Known Member

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    Yes..correct.
    There are nearby suburbs (still inner city) that are not hit by such large amounts of supply. I would look at those.
     
    JDP1, 29th Oct, 2015
    #21
  2. Tekoz

    Tekoz Well-Known Member

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    Sydney
    @norm226
    How about this one: http://eepurl.com/bEd8HH
    [​IMG]

    First in best dressed…won’t last long
    Buy: $340,000 to $345,000 (valuation range $360,000 to $375,000)
    Repairs: 10k-12k. Nothing structural
    Rent $500 to $550 per week (Dual Living)

    Synopsis:
    • Free standing highset on top of the hill with great views
    • 719 square meters land
    • Total 5 Bedrooms, 2 Bathrooms (3 Bed rooms, 1 Bathroom, upstairs and 2 Bed rooms, 1 Bathroom down stairs)
    • Upstairs and Down stairs can be rented separately and all the hard work has already been done.
    • Down stairs is currently tenanted for $250 per week while upstairs has a potential to achieve $300 to $325 without any hassle.
    • Solar panels and Swimming pool with brand new machinery
    • Property is easily worth $400,000 plus after renos and options are unlimited for potential buyer.
    • Previously sold for $385K but fell over!

    Absolute bargain, situated in the heart of Beenleigh CBD which means you are only 2 kms away from Station, Schools, Shopping and Motorway.

    Call:
    Santosh Nune 0400 411569
    Paul Flynn 0415 384999
    Craig Greer - Smith 0414 342016​
     
    Tekoz, 30th Oct, 2015
    #22
  3. Rich2011

    Rich2011 Well-Known Member

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    Brisbane

    ​

    All sounds good, BUT consider the following:

    *how does the electricity work, included in rent? (dual living - separate meters? I'd say not...)
    *swimming pools need to have contractors to keep well maintained, is that included in the rent too?
    *is it legal height? doesn't mention so....
    *Logan rental market is flat atm, so what sounds 'easy and hassle' free many not turn out that way.
    *average Logan rates about $900 per Q including water :mad:
    *property is easily worth 400k before reno's.........????? :p:p:p
     
    Last edited: 30th Oct, 2015
    Rich2011, 30th Oct, 2015
    #23
  4. Tekoz

    Tekoz Well-Known Member

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    @rico2011 hm.... You've done the homework well mate.

    @Taku Ekanayake is that the reason why you don't buy in Eaglesby/Beenleigh area ?
     
    Tekoz, 30th Oct, 2015
    #24
  5. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    @Tekoz I bought in Eagleby and settle next Monday. Nice cheapie I picked up for $258K on 900m2 block with side access. It's highset. Legal height but haven't gone through approval process. It's tenanted and we bump the rent up to $315/week. Not the greatest yield (6.3%) but has plenty of value add potential.

    Waiting for green light on finance for my next one as we speak. might look around the same area again or even head around Moreton Bay Council area. Looking for another $250K-ish
     
    Taku Ekanayake, 30th Oct, 2015
    #25
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  6. meme plecko

    meme plecko Well-Known Member

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    meme plecko, 30th Oct, 2015
    #26
  7. larrylarry

    larrylarry Well-Known Member

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    larrylarry, 30th Oct, 2015
    #27
  8. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Taku Ekanayake, 30th Oct, 2015
    #28
  9. Taku Ekanayake

    Taku Ekanayake Well-Known Member

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    Taku Ekanayake, 30th Oct, 2015
    #29
    Gockie and larrylarry like this.
  10. norm226

    norm226 Member

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    Camden, NSW
    Thanks for all of your advice! I'll keep it in mind while looking around.
     
    norm226, 31st Oct, 2015
    #30
  11. Azazel

    Azazel Well-Known Member

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    I would be looking for a 3-4 bedroom, 1-2 bath solid house on a decent block on the East coast. There's a lot of coast, but you have to do some of the work yourself ;)
     
    Azazel, 31st Oct, 2015
    #31
  12. Whitecat

    Whitecat Well-Known Member

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    Yes prices are dropping. Seeing it already
     
    Whitecat, 31st Oct, 2015
    #32
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