澳洲Australia property Couple of nice little purchases! | Sydney


在澳大利亚 I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo


Just picked up two brand New Villa Units for $225,000 each. Negotiated a further $5,000 cash back on each villa upon contract completion effectively making the purchase price $220,000. Even before cash back and depreciation is taken into account they will produce a 6.9% return and to top it off the Independent Valuers of the properties have provided report showing current values of the two villa units at $295,000 and $310,000 for each of the properties and as the valuers are the same company who does the valuations for the bank, the bank is allowing almost instant access to the equity instantly achieved. There are times I love property investment :)  

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Excellent - well done!

Where did you pick them up?:)  

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Great stuff.

Make sure you refi to lock in gains (and let it sit in offset until u find next investments.)

Any villas left?:p  

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congratulations !
is this in Hobart ??  

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chindonly said: ↑
Excellent - well done!

Where did you pick them up?:)Click to expand...
K_Raheja said: ↑
congratulations !
is this in Hobart ??Click to expand...
Yep about 15-20 minutes from the CBD in Hobart. Developer has finished 10 of 36 Villas as part of a new development and was able to score some. Should be some more on the market fairly soon but unsure on pricing of the newer ones.

JWR said: ↑
Great stuff.

Make sure you refi to lock in gains (and let it sit in offset until u find next investments.)

Any villas left?:pClick to expand...
Already being sorted out :)  

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Tyrael said: ↑
Just picked up two brand New Villa Units for $225,000 each. Negotiated a further $5,000 cash back on each villa upon contract completion effectively making the purchase price $220,000. Even before cash back and depreciation is taken into account they will produce a 6.9% return and to top it off the Independent Valuers of the properties have provided report showing current values of the two villa units at $295,000 and $310,000 for each of the properties and as the valuers are the same company who does the valuations for the bank, the bank is allowing almost instant access to the equity instantly achieved. There are times I love property investment :)Click to expand...
A lot of instantly used there.

Access to instant equity subject to serviceability criteria with the bank, of course.

How come they are selling at $225k when they are valued at $295k+?

Developers don't usually do that unless they are going broke;

I've tried to low-ball a few over the times, and unless they are going really bad, they just tell you to "travel on out".  

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good buy well done.

Seems like Tas might be the only state where OTP is not back firing (or is that just Vic?)  

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