A lot of the discussion on this forum as to why people choose not to get really cheap properties, relate to people being concerned about the state of these properties.
For the sake of discussion, can we please limit the price of the properties to about $100k (but I’m more interested in the *really* cheap ones- think the cheapest). What do people think about 50K properties? Are there still any good ones left? Structurally sound? Not dumps?
Can we also discuss properties for 2004- not 1997. From what you’ve seen on the net and in your travels all over Australia loking for IP’s and spending time with RE agents.. are 2004’s CF+ IP’s dumps Or not?
Also, just for me [
] can we limit this discussion to residential properties only- not commercial.kay henry
Hello ms henry
I bought one in June 2003 for 56k, rents for 130pw, I could tolerate living in it myself, and I’d like to think I don’t have shockingly low standards. This was in Rockhampton. From what I’ve seen, other houses that they’re now flogging up there on realestate.com.au for around the 80k mark are comparatively well below in standards in terms of kitchen, bathroom quality etc.
So in my opinion, cheap properties 6-9 months ago weren’t all dumps… as to now… well, I’d do my homework. That’s not to say you won’t find a few diamonds in the rough.
cheers
ryes kay in tassie u would get a renovated house for under 50k easy.
In SA im finding several from $45,000k but at that they need about 5k spent on them. found one house for 50k needed nothing doing to it. so yes they still around. The thing about Tassie they small town , not small town in SA tho.
b/w 50-60k can get a house in preety good shape in SARegards Bear
Kay
you can guess what i’m going to say about new zealand
regards westan
I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]
hi kay, PM me your email address and I’ll send you some pics of mine, all under 30K. A picture paints a thousand words…
cheers-
MiniWOW Mini under a 30k, is that in NZ? I know u get them in Tassie, dont know about anywhere else in aussie tho , oh except in one horse towns.
Regards Bear
Originally posted by MiniMogul:hi kay, PM me your email address and I’ll send you some pics of mine, all under 30K. A picture paints a thousand words…
cheers-
Minihey mini could you email me pictures also, give me some feedback on my post conrad properties as I enjoy your comments.
SteveMini- thanks for your offer!! :o) Email is:
Please don’t get me wrong, folks- an outhouse in certain parts of sydney would sell in sydney for 800k if it had “porcelain glimpses”. So I know dumps exist everywhere
But I do love discussions on the 50K houses. These are really the ones lots of people (me included probably) would like to be able to think about buying. But given the huge CG’s all over australia, what’s left for 50k???
Bears- reno’ed houses for 50k?? I’d have me a piece of that! (Actually, often I feel quite sad when people reno their houses and put such love into them, but the location determines the price so they might have overcapitalised :o(
kay henry
yes KAy a trap that is easily fallen into, however im sure the ones im talking about they made money as 12 months ago they probably got them for about 15k
Regards Bear
kay, I sent you one, which seemed to go through, the second two bounced, maybe your hotmail is full?
cheers-
miniOriginally posted by MiniMogul:kay, I sent you one, which seemed to go through, the second two bounced, maybe your hotmail is full?
cheers-
miniMini,
If you have time, can you send it to me as well, will PM to you my email soon.Warm Regards
ChanDollars
[Keep going, you’re on your way to financial freedoom]i will try and do it as a webpage. (just in case there are more…!! heehee!!)
haven’t done it before, but should be able to figure it out. give me a few days tho’.
cheers-
MiniHey All,
Not sure if any one is actually out there, but hey.
I am only a youngish fellar from Sydney who is extremely interested in getting into the game but am also worried there may not be properties like Steve discussed in his book that are rentable cash flow positive.
Have I missed the whole play or is there life still in the market?
I really have only a minimum deposit and am a little frightened as to how I get into the game. Obviously it is my journey but I just hope I have not missed it.
DAN
Originally posted by BEAR1964:yes kay in tassie u would get a renovated house for under 50k easy.
In SA im finding several from $45,000k but at that they need about 5k spent on them. found one house for 50k needed nothing doing to it. so yes they still around. The thing about Tassie they small town , not small town in SA tho.
b/w 50-60k can get a house in preety good shape in SARegards Bear
Hey Bear, what is the tenancy situation like in these houses, are there many homes on rental lists?.
It depends what what area of the towns u buy in. Some of the not so deleightful areas are a bit harder to find tenants.
Some are very close to university so now is the best time to be trying to rent them out.
Regards Bear
Originally posted by Dan:Hey All,
Not sure if any one is actually out there, but hey.
I am only a youngish fellar from Sydney who is extremely interested in getting into the game but am also worried there may not be properties like Steve discussed in his book that are rentable cash flow positive.
Have I missed the whole play or is there life still in the market?
I really have only a minimum deposit and am a little frightened as to how I get into the game. Obviously it is my journey but I just hope I have not missed it.
DAN
Hey Dan, im in the same boat also! 21 from Sydney and keen to get started after reading Steve’s book. But doing a quick search it looks like it’s not going to be easy, especially in NSW.
Do many of you investors buy interstate? Because i think that may be my only option [
]Bear,
Try cunumulla in QLD!! [
]
] can we limit this discussion to residential properties only- not commercial.
]
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