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  1. #91
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    Location is everything!!!

    Better off buy a dump in a prime location then a mansion in the middle of nowhere (in terms of return/making a profit)

    The property I mentioned earlier (purchased for 269) has just been listed for 440.

    We updated the kitchen & added outdoor dining. That's it. Just happened to be an 'up & coming' suburb.

    That said, purchased an investment out west for 116.. returning 150 p/wk.. I'd never live there but the (long term) renter sure loves it. Go figure.

  2. #92
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    Achievements:Topaz Star - 500 postsAmber Star - 2,000 posts
    Quote Originally Posted by A-Squared View Post
    It's the same in SA, people always lowball. So as a seller, if you want $470k, you advertise at $495-$520k in the hope to get $470.

    .
    That's how it used to be where I live (not Sydney, but in NSW) but then the market went nuts and it changed. It's so disheartening. I got to the point where I would ring the RE agent before going to an open house and just asking them to please be honest with me and tell me what the seller was really hoping for because I got so sick of going to look at houses advertised in our price range to get there, like the house, and then find out that the seller really wasn't going to accept anything less than $50k more than the asking price. We gave up on auctions for the same reason. We'd go, and the house would go for $100k more than what it was advertised for. We just couldn't compete with it.
    Last edited by Full House; 12-07-2015 at 21:41.


 

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