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Haha I liked the description of the Queenstown house: "Here with have a special little piece of crap" thanks for the laugh!
Ah scoff as one will, I recall being in Tassie just prior to the original FHOG coming in in 2000. There were many instances of people being able to use the grant for almost the WHOLE cost of the house – yes, quite a few sales in the sub 10K bracket. These rented out at $50-$90 per week and we now see the as on this site, reselling around 10 times there purchase price.
So really, these "dodgy" properties actually met all the criteria of the investing gurus. Just not such a sweet deal for the following purchasers I guess.
Viewing 3 posts - 1 through 3 (of 3 total)
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