Your Latest Purchase

Just bought this bad boy last week. Now just have to figure out how to bring it in to the 21st Century,

 

Is that in Hobart?

 

Its in Leura

 

So much character!

 

so pretty! congratulations!!

 

@David Shih very nice! Should be quite straight forward and obviously a nice boost in yield. I think you might have bought one of the last properties in Newcomb for under $300k, timed it perfectly.

This is the property I've just purchased.

https://www.realestate.com.au/property-house-vic-whittington-125357878 https://www.realestate.com.au/property-house-vic-whittington-125357878

Nice block size of just under 700sqm, new kitchen and updated bathroom, definitely a little bit of a dodgey Reno that wasn't quite finished but a bit of paint and elbow grease and should be right to rent very quickly.

 

Congrats, its stunning!

 

well done Brendon...brilliant

 

Thanks Gockie. Wasn't planning to buy but the reserve was much lower than I excpected it to be.

 

Congratulations @Brendon that's a great snatch! Given the land size, how close it is to Thomson and East Geelong plus the place is mostly renovated you can't go wrong.

Do you mind sharing how much you got it for? I'm assuming you got it just shy of 300K...? Otherwise can wait after the place settles

 

Nah no probs at all, I ended up paying $315k, which I don't think is a bargain but it's exactly what I was looking for so didn't want to not get it for a few $1,000.

I think $310-$320 is basically the new price for an basic lower end house in Newcomb, and although this is in Whittington it has the reno's plus larger land size which will hopefully result in a relatively easy subdivision in the not too distant future.

 

Potential. Well done. What would you do before renting out?

 

@Brendon Congrats on your purchase. I've been looking round several areas in Geelong including this one and when you compare prices to those in April, they've clearly jumped. You're absolutely right about Newcomb, I'd say it's $20-30k up from 4-6 weeks ago, on average.

So I think that's still really well priced at $315k and may look like a bargain in a year's time. Well done!

Do you mind if I ask what you're expecting to rent it for?

And as a general question to buyers in Victoria, have prices jumped this month generally, because people are already pricing in the stamp duty removal for first home buyers? Or perhaps this increase is just specific to the local market...

 

Hi guys

I recently bought a 3 bedroom 1 bathroom unit(90sqm) in Surfers Paradise. It's a low rise in a complex of 8 and about 1km from the beach, it has very low body corp fees and is on a 1048 sqm development block zoned unlimited height. I paid $320k for it and I just got a tenant in that is paying $400 per week.

There is a similar property for sale with a similar price tag. Wondering whether to buy or not as the volatility of Surfers Paradise does concern me.

 

Just bought this write off for $300k
A friend is demoing, removing trees, re instating soil and splitting into 2 14m street front green titles. Aiming to sell within 10-12 months
7 Harold Road, Swan View, WA 6056 - House for Sale #125332886 - realestate.com.au

 

good work, what do you expect to achieve for the blocks? I don't know the values in this area

 

To be honest - we don't have an exact figure however expect approx $250k. Its actually a very hard comparative as there is nothing even close to similar in the area. A few random larger blocks that are in horrible locations or have a lot of gradient.

Over in Midvale, Moveda estate has sold out of 450m2 product and next release will be $260k.

We are in a colder sack, opposite a huge park with 570m2 so we think $250k shouldn't be hard to achieve.

Thoughts anybody?

 

Just bought a new place which I will look to turn into a PPOR. It is a 2 two bedroom on 550 sqm in St Albans close to trains and shops with possibility of turning oversized laundry into a third bedroom and ensuite and moving laundry into garage. Might also add a deck.

Will have to complete renovations for first time on Kitchen and Bathroom. Looking forward to it.

 

Just got an offer accepted on a block of land in Atlanta, beltline.


Numbers - $60,000 Block
Build - $150,000 (2000 sq ft)

End values in this area for this product minimum - $350,000
This will be a flip.

MTR

 

Congrats on your purchase!

I'm still a complete newbie but once I have a bit of experience I'd be really interested to look at the US or other o/s markets. I'm guessing you have to be very thorough about engaging the right people and to understand the local market, tax implications, etc. But there's clearly a lot of upside if you get it right.

One day....