Forums / Community / Heads Up! / Interesting finds! Properties for sale

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  • Profile photo of SooshieSooshie
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    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi there,

    Well despite my hybernating for the winter, I still manage to stick my head out of my cave now and then, and read any property guide/mag I can get my hands on. I’ve been finding some REALLY interesting properties for sale. Including one that was advertising an entire block of flats in a up and coming area!!!
    It seems that some people who’d bought at the peak of the property boom and have negatively geared are perhaps rethinking their investment moves. This is good news for seasoned investors.
    I’d love to share these finds with you, as I can’t do them now… if you like this thread let me know….
    I am not in league with any agents or whatever, I just peruse the papers and internet like any other humbug and see what I can find…
    Anyway, just to start…near where I live there are 3 properties for sale, side by side that could be positive cash flow as they are next to a Tafe college (within 100 metres).
    Okay, just seeing if anyone likes this thread…

    Cheers
    Sooshie :)

    When a problem is created the solution is created simultaneously

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Ah my little Sooshie Roll[inlove]

    As usual you have intrigued me and of course I would love to hear more. I also know where you live [evil4]…

    Cheers
    Leigh K

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    Well done Sooshie – I am sure you will be swamped with interest!

    Nice to see you on again – will we see you in Melbourne at Steve’s seminar?

    Cheers,

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

    Profile photo of elika7264elika7264
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    @elika7264
    Join Date: 2003
    Post Count: 160

    Go Sooshie

    looking forward to any information you can provide.[biggrin] Also interested in your comment that some investors may have been burned and are now rethinking their property decisions. Is there any data to support this view.

    Regards,
    Helen

    Profile photo of melbearmelbear
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    @melbear
    Join Date: 2003
    Post Count: 2,429

    Hiya Sooshie

    I think your info is great. Especially for all the new guys out there who wonder if the properties are out there.

    I’m guessing that the houses near you (near Tafe) would be made positive by renting by the room?

    I’m also pointing this out to others to show that today a little bit of creativity is often required to make houses more ‘interesting’ and to help them to see what others may not..

    Cheers
    Mel

    Profile photo of SooshieSooshie
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    @sooshie
    Join Date: 2002
    Post Count: 974

    Hello [exhappy]

    Happy to see your all positive about this thread…okay so here goes…
    South Rd, near Homesglen College of Tafe (ex Edmund Barton Centre) Has 4 houses for Sale in a row! 1 has been sold, but there are 3 still next to each other for sale. Further up South Rd there are 2 weatherboards, on the high and dry position for sale, side by side. I wouldn’t so much recommend these for steady positive cash flow, but for buy and hold or for renovation and sell purposes. The ones near the Homesglen I would, as you mentioned Mel, rent out the rooms individually, make one person the ‘Rent Collector” for the house (this person at a slightly reduced rent rate), who would be in charge for making sure that light bulbs are changed etc etc. I have no knowledge of any major works in the area, but I do know that Homesglen is in the process of building, which can only mean that it had the need to do so! $$$

    The other property, is a set of 6×2 bedroom flats, that are neat and tidy, I believe they are currently rented, but the area is a good strong rental area. Good Buses and Train station close by including a very popular shopping strip. It has a lot of potential to make approx 50K-70K per flat for minimal effort (for the creative renovator/investor).
    As this property is above the million + mark, if people want it’s details and ID# etc. please pm me as if you are interested for real, I don’t want you to have to compete with those ‘just curious’. The agent knows this is a good property to sell, so he’s not giving up too much (the Auction is this week coming). In fact I was looking for a deal like this prior to doing some other deals, otherwise it would be on my own secret list [;)]
    Helen, whilst I’m no statastician and have no hard evidence to suggest investors are rethinking their decisions, there have been many ‘talk back’ radio stations which have ‘property talk’ programs where there was information to suggest what I mentioned, when the investors, including your average ‘mother and father’ investors called in to talk about their investments.
    At this point in time, some RE’s are complaining how hard it is to ‘clear’ properties. In some areas, this is not the case, because there are relatively few houses/flats on the market for sale, compared to the demand to purchase in these areas. This block of flats is in one of those areas. Areas/Suburbs that hold their value, usually exhibit this type of behaviour, where demand outdoes supply (eg parts of Caulfield, Brighton, Malvern, Toorak etc). I have found these areas generally retain their value as well. I guess these could be considered your ‘blue chip’ investments.
    I’ve also seen some ‘come with your eyes closed Auctions, but realise the land potentials’ come up for sale in Cheltenham. These houses are some scary sights. I’d wear protection gear before entering.
    As today was last day of school holidays, I jumped on a train to Frankston with my son, it’s amazing what you see from the back of houses! It really does give a different perspective on things.
    Okay, I digress now.
    Simon, I’d love to see you at Steve’s seminar, but not sure if I am able to attend.
    Hope everyone is well and keeping the winter bug away.

    Cheers
    Sooshie [:)]

    ps. Anyone have some other properties they can’t deal on, but would like to pass on? This is now the thread!

    When a problem is created the solution is created simultaneously

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi everyone,

    I drove past the two propeties I mentioned, up South Rd, on the high and dry, they both now have SOLD stickers on them. Congratulations if they were purchased by a Forumite! I hope they are successful investments for you [:)]
    I might be a little incognito for a while. My Mum was just diagnosed with a nasty brain tumor. I will try and answer pm’s if possible.
    Those interested in the Auction this Thursday and want to know where, feel free to PM me and I’ll let you know the details. The agent is Gary Peer if you prefer to do it that way.

    Cheers and Stay safe
    Sooshie

    When a problem is created the solution is created simultaneously

    Profile photo of melbearmelbear
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    @melbear
    Join Date: 2003
    Post Count: 2,429

    Sooshie, I hope things go well for your Mum..

    Cheers
    Mel

    Profile photo of SooshieSooshie
    Member
    @sooshie
    Join Date: 2002
    Post Count: 974

    Hi Forumites [biggrin]

    The property sold (6 units) sold for 1.3+ million for those who were interested. I think the new owner will be very happy.
    This week I’ve found minimum 6 positive cash flow properties in Victoria. One of them has a brand new kitchen, going for a less than a new car!!!
    Cheers everyone…
    Thanks for your well wishes

    Sooshie [heart]

    When a problem is created the solution is created simultaneously

    Profile photo of SooshieSooshie
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    @sooshie
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    Dear All,

    There is another property which is a Backpackers Hostel in a great location and up and coming area. If your interested I’ll get you the RE number.

    Cheers
    Sooshie :)

    When a problem is created the solution is created simultaneously

    Profile photo of MonopolyMonopoly
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    @monopoly
    Join Date: 2004
    Post Count: 1,612

    Hi Sooshie,

    Firstly, hope you mum is well.

    Secondly, if it is the backpackers hostel I am thinking of (inner city suburb Melb) this block has been on the market for yonks!!! Seems the price is too steep. Good returns but big outlay.

    Cheers,

    Jo

    Profile photo of SooshieSooshie
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    @sooshie
    Join Date: 2002
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    Hi Jo,

    Thanks for enquiring after my Mum. It’s been a rough trott for her (and us too), so I’m very proud of her courage.

    The Hostel is not in Victoria and the price should be good (from first glance). It is also in an upcoming area where developements are being done.

    PM me if you want more info…

    Cheers
    Sooshie :)

    When a problem is created the solution is created simultaneously

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