Hello SeanK
yes thats why we offered $470,000. It is on a large block, has a three car garage with office and the house is gorgeous but $470,000 is very realistic. The guy who owns it is the businessman who renovated it so he is in no hurry to sell. I have found out he is doing up the house next door to this one.You cant really buy all that close to Brisbane any more with the features this house has. Also its a buyers market and Ipswich is slowly catching up. This is the time to buy in gloom not boom
QLDS007
The house will be in my name but we have worked out how it will be structured with our daughters
You know about the new highway they are going to build in Ipswitch right ?
More traffic jams and more noise if you're close to it. ( see Sydney West suburbs scenario )This is the house opposite my Cottage.
http://www.flickr.com/photos/ipswichhouses/2585210051/in/pool-pa_ourtown
The house next door to my Cottage is being renovated so cant wait to start my cosmetic make over. Painting etc. I will then wait and see what is being done in the street.
My bank manger has quoted the $1 rental per $1000 spent. So I spent $210,000 buying the house I should get $210 a week rent.
As our daughter will live there it will be easy to do maintenance etcthey are beautiful old places if you like that style (which I do)…..good luck with the project
You know, there are some posters on this forum who shout doom and gloom and use lots of exclamation marks and use BIG CAPITAL LETTERS!!! They say nothing but negative things and often take offensive and accuastory potshots at people.
However, left to their own devices, these posters invariably trip themselves up and show what narrow minded and uneducated individuals they are. You know what I mean – people who scream that the market is crashing and say "you can't rely on the history of the property market – times are different now" and then quote past statistics to bolster their own argument about how we are all going to end up unemployed and homeless. Or people who, in trying to convince other posters to agree with their way of thinking, end up by posting factually and legally wrong information themselves.
To Kate who made this posting in the first place, yes there are things that can go wrong with the worst house in the best street. Your financial situation could force you to sell the property before the other houses are done up, selling at a loss; you could find out that there are all sorts of structural problems with the house or that there are encumbrances or covenants on the land that justify the cheap price. HOWEVER, you appear to have done your due diligence, you have tenants, it would appear that your financial situation is strong enough to cover you for potential tough times. I say congratulations on a good buy.
Personally, I am a fan of Ipswich. I worked there 4 years ago and I drove through there for the first time in years a couple of weeks ago and could not believe the change. It looked amazing.
Well done.
K
Hi Kate,
With regard to the pic you posted, what is your estimated value of this one and it your property on a simialar size block?
MickHello Linar and others
Thanks Linar for your nice comments.
I will give some more info for those who are curious to how it is going. The cottage is a deceased estate and various family members have lived there.
It was on the market for $249,000. I sat on it and kept a watch. As its a bad time to sell I offered originally $185,000. I eventually got it for $210,000.
Finace has been approved and we believe it will pass the building inspection. If it doesnt I then go back to the seller and say its only good for land value and will buy it for $185,000. If the building inspection isnt too bad I will just clean it up, give a cosmetic makeover and have tenants in there for about 5 years.
It could then "fall down" and I then rebuild. I cant demolish it
Hello newbi2
We offered $470,000 for the blue house (the pic shown ) but was rejected. He said $595,000 now reduced to $500,000.I will email you more pics. In this current market $470,000 It has a great garage and long driveway
No my block is not as large. I will leave the large blocks to the buisnessman who owns the blue house and is renovating houses in the street.
I want to buy another cottage / or reno now in the same street .
Houses in this street dont come up very often
Great news My cottage has passed the building inspection. My husband was there with our building inspector. I knew the first time I saw this Cottage it was going to belong to my family
Can not wait to get in there and start the makeover !
I think it is 80 to 100 years old. Just doing some research on it
Hey Kate,
Congrats on the new property and good luck. Just one thing, if that link is a picture of the 'worst house in the street' then the one i did up was an absolute dump!! Luckly i made a decent profit from it otherwise i wouldnt have even let my cats die in there. hahaha!
All the best!
Hello Nathy D
The link was of the blue house its opposite my cottage and woth over $400,000
My cute cottage is the following links
I did an historical titles search on the property. At one stage in 1900 a councillor of Ipswich owned the land. As far as I can tell my cottage was buit in the 1930's
/www.flickr.com/photos/ipswichhouses/2586030884/http://www.flickr.com/photos/ipswichhouses/2585194693/in/photostream/
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