All Topics / Help Needed! / Investing in ingle farm,SA

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  • Profile photo of mike.12mike.12
    Member
    @mike.12
    Join Date: 2010
    Post Count: 36

    Hello Mates,

    A investor has a property for sale,a 3 bedroom  house,11km from CDB and land size is 500sqm.He said bank has valued it for 280K,in 1 year he saying it will be about 350K.It has tenant but did not say what the rent was.He is going to forward detail later.His is selling it privately for 280K,but if he gives to agent ,the agents fee including,the price will be about 295K.

    The reason he is selling is because ,moving to brisbane and need more fund to buy property in brisbane.otherwise he was not selling.

    Can you please advice whether it will be good IP,I will appreciate it.though I have a budget to buy for 350K,any suggestions,where I can buy my first  IP/

    thanks.

    Profile photo of basbogbasbog
    Participant
    @basbog
    Join Date: 2010
    Post Count: 58

    So if it was worth 350k in 1 yr, thats a 25% increase, thats a big jump on current prices in Adelaide

    Barry

    Profile photo of Dan42Dan42
    Member
    @dan42
    Join Date: 2008
    Post Count: 619

    25% seems a big jump in that area. I'd be doing some of my own research, not just relying on the vendors expectations. I'd also want to see what the rent is first.

    Personally, I'd be looking a bit closer to the city. Or on the south side. (St Marys, Darlington etc)

Viewing 3 posts - 1 through 3 (of 3 total)

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