Im trying to find a 2 bedroom appartment (or small stand alone reno) within 10ks of the Melb CBD, preferably Flemington/Ascot Vale/ Maribyrnong area for under $300k and cant find anything thats not complete rubish. Any help or is it just what you get for that price range?
Hi blogs,
I don’t know the area at all so I won’t comment on it.
What comes up for me from your question is two things:
1. If you know your area and that is all you can find than maybe you need to wait for what you want.
2. These days you get paid for solving problems, the bigger the problem the bigger the pay check. So if “they” are rubbish that sound like it might be an opportunity to me….
Happy days,
Beck[happy3]
Thanks for the reply Beck, alot of them cant really be ‘fixed’-they are either in dingy little old appartments or have such limited parking that they arnt practical. AH well I suppose just have to play the wait and see game…
Originally posted by blogs:Im trying to find a 2 bedroom appartment (or small stand alone reno) within 10ks of the Melb CBD, preferably Flemington/Ascot Vale/ Maribyrnong area for under $300k and cant find anything thats not complete rubish. Any help or is it just what you get for that price range?
forget it – they don’t exist.
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
G’day Blogs.
I wouldn’t go so far as to say that deals like this don’t exist but I will say that if this is your target then maybe you have to think outside the box a little. Are you in a position to develop land? Or perhaps to form a syndicate and purchase an existing block of units (thereby lowering the individual cost per unit)? It may be that there aren’t stand alone deals out there but who knows what’s available with a little creative thinking?
We wanted to buy a new 3×2 near a major east coast university for under 280K with rental of around $280pw. One of the closest things we could find was a solid 50 year old 3×1 with rent of $210pw for 295K. We bought it, renovated it (at $5000 total cost), re-let it for $270pw and there’s enough land out the back to build the new 3×2 we were looking for in the first place. When all is said and done we should get that 3×2 for less than we were hoping for (or thought possible).
Cheers,
Art‘Great spirits have always encountered violent opposition from mediocre minds.’ – Albert Einstein
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