Yes Santa came early for us on Xmas eve. Signed a contract for a modest 3 bed house in Ipswich, Qld for $135000 !!!!. Needs some TLC but should rent as is for $180pw. Not bad considering 600 sqm vacant land is selling for $130000 around the corner.
The zoning suits a duplex so the plan is to rent it out until we can organise building, and in the meantime the rent covers the interest . Not bad hey.AJBS
Congratulations and good on you. what was the borrowing ratio did you have. Did you manage the property yourself?
cheers
Will use existing equity for a deposit. Upon settlement we’ll give the place some TLC and appoint a PM
AJBS
Originally posted by AmandaBS:Yes Santa came early for us on Xmas eve. Signed a contract for a modest 3 bed house in Ipswich, Qld for $135000 !!!!. Needs some TLC but should rent as is for $180pw. Not bad considering 600 sqm vacant land is selling for $130000 around the corner.
The zoning suits a duplex so the plan is to rent it out until we can organise building, and in the meantime the rent covers the interest . Not bad hey.AJBS
Congratulations on your great deal. How did you get it at such a great price, did you low-ball ’em or have an ill-informed vendor/agent? I’m very interested to know if you can negotiate my next deal?!?
Great stuff…g7
By talking with the agent we discovered it was a property settlement (divorce) and due to Xmas looming and everything closed he wanted a result. Two contracts had already fallen over and he was desperate. The house was listed at $159500 we offered $130000 but then increased it to $135000. Deal done in one hour.
We’ve only been inside once so I’m looking forward to a second look to measure up and get supplies ready for an overhaul. Its a bit rough as is, but some TLC will do wonders and increase the rent. I recall some “lovely” timber look laminate wall sheeting and foam tiles on the ceiling. Here we go again !!Amanda
“It is better to be inconspicuously wealthy, then to be ostentatiously poor…”Well done Amanda!!
Santa came early for us on Xmas eve.Excellent work Amanda….your timing of Xmas eve reminded me of what we were doing at the same time. 8pm Xmas eve standing outside a factory with a hired locksmith, picking locks to gain access and change out all the locks and start the physical eviction process…..after 3 months of useless lawyers sending letters back and forth,lies, more lies, excuses, no rent and no action.
Cleaning out people’s garbage seems to be my forte. Good money in it. A broom and bin are my very best of friends.
When they supposedly came back to work on Dec 28th, their shocked look with all of their garbage neated stacked up outside the warehouse, and a dejected “OK, our silly little game is up” was a very excellent Xmas pressy for me.
In went my fully signed up national corporation tenant and all now happy days.
Hope everyone else had a good Xmas treat.
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