WA Post a Bargain - Perth 2018

I assume your talking about Dayton 400-500sqm blocks? Im sure with the proposed Morley to Ellenbrook link there will be some decent transport links close by that may not be factored into the current market as much as maybe they should be?

It would be a FHOB but with the thought of having children in the not so distant future ie: 3 years or so.

Out budget is probably more 400-450k 3 bed minimum with 2 baths.

We have been looking more at Marangaroo, High Wycombe/Forrestfield. It would be maybe nice to get something smaller maybe at a little more price in the Bayswater/Embleton type areas.

Im happy to take advice from the more experienced people with investing.

I was thinking a large property 700-800+ sqm in Caversham/Beechboro could potentially produce good growth once a train line went up next to the area.

 

Whats your expectations and time frame for the property?

 

@thatbum this one I viewed is still on the market, thoughts if I could pick it up for around 475k? 32 Coolbellup Avenue Coolbellup WA 6163 - House for Sale #128416782 - realestate.com.au seems to be in a "nicer" part of coolie,neighbours properties were well presented and maintained, when I attended the occupants of houses across the road were planting a veggie style garden on the verge outside their homes had a nice community feel about it. Although it is on a busy road it really wasnt that busy at all, there was a newish development across the road ( 13-15 cool ave I think ) that looked like multiple apartments/town house types so surely that indicates further zoning over the current R60 may be possible down the track.
Also welcome comments from others who know the area more intimately than I @JohnPropChat @Aaron Sice

 

Did you manage to get a price guide?
1. Watch out for state housing. I remember there to be a few along those streets.
2. It's been on the market since May. They could just be testing the market.
3. No good for retain and build. Other than the high zoning, I don't see any real upsides to it. Maybe if the price was right ...

I like properties to have a twist but Cockburn is rezoning large parts of the city. So many houses have the same "twist"

Is this for a PPOR? For IP, I am sticking to inner ring blue chip stuff but I never restrict myself. I look for deals far and wide and for the right property at the right price, I would even buy in Byford (yuck)

 

An auction was held ( cant recall which date but it was before I viewed the property ) and an offer of 500k was turned down by vendors which agent said they now wish they had taken. They are wanting around 500k but I wouldnt go that high hence said 475k.
I thought when I did the figures on intramaps that retain and build was possible but that was a while ago and my memory isn't the best
Yes PPOR for 3-5 years

 

I meant retain and build to utilize the zoning fully, for example R40 on 750sqm with retain and build is being able to put two houses at the back and keep the one at the front. You are right though, you can build "a" house but double check with the council. Vendors often want a premium for the same size block with R60 vs R40. Unless you are a developer, I would just buy an R40 for a lower price or even lower zoning if all you are aiming for is one block at the back, if you get my drift.

Just checked for you, I count at least 5 state houses in a 10-house radius so it may need more scrutiny on the ground.

 

I would never believe a single word that comes out of a REA no matter how plausible it seems. Everything is a lie until proven otherwise, in this instance you can't prove it so ignore it. Trust your instinct and if you are happy make an offer, the worst thing that can happen is they say No.

I can't remember how many offers I made in the last 24 months on various properties I was interested in . Some would come to the table to negotiate, some would outright reject my offer only to come back 3 months later and wanting to see if I am still interested ...

 

Pfft, overpriced as I suspected. Well maybe not overpriced, but its just not that great a deal.

There's retain and subdivide options that go for low 400s and even 400 flat so that one seems like a dud.

 

Coolbellup does my head in.

The only reason the zoning is in, is for Balga-esque gentrification.

It never works. Minimal public transport, minimal infrastructure and more of the same just 50 years later...?

No thanks.

 

Some of Beechboro has already been rezoned. Personally I like Marangaroo/Greenwood area better.
Lifestyle - two are close to river and Swan Valley, one is close to beaches.
Visit the local shops and parks on weekends of all of them and see what you prefer.
I don’t know Forrestfield area so can’t comment on that area.
You’ll be wanting to think about schools also.

 

@Aaron Sice suggestions then for an area with 500K budget min 3 bed not far from coast

 

You mean like this.....22 Florizel Street Coolbellup WA 6163 - House for Sale #129124690 - realestate.com.au

 

Only had a quick glance so far, but yes, that looks more along the lines of what I was thinking, assuming a retain and subdivide, and renovate the front property type strategy.

 

For $500k, you have some pretty decent options.

Personally, I really like the look of this for devvy potential. Use the fact it doesn't have a 20m frontage for multi dwellings and keep that offer lower.

m.realestate.com.au/property-house-wa-warwick-127788758

 

I’ve been watching that one for awhile with interest as I’m developing on the same street. Kind of surprised it hasn’t been sold yet but it will depend on how genuine they are to take the 499 end of the range.

 

They're probably full of **** and wind thinking it's an 8 apartment site or something and looking for 550k

 

For context I paid $580k for 822sqm so $705 psqm if my maths at pub work.

At that rate 16 should be $490ish but see how the suns stack up for what you want to do

Mine is a corner block so I got great frontages but I also have big slope so $$$$ to retain the 4 blocks I’m building on

 

Selling agent sounded like they knew the 5% + truncation rule for that price....!

In any case OP just wants a block behind plus rental. This should do it nicely.

 

There wasn’t much scope for negotiation as i bought it as a “trade in” on a end product sale. Whatever discount I asked for I’d have to give up on the other sale.

Anyway $705 per sqm worked for me and was less price than other sales.

 

Good to see you put 4x on there anyway.