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What do we all think of this property? There is a story behind it.

#1 User is offline   Nathan Birch 

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Posted 11 March 2010 - 05:51 PM

http://www.realestat...gi-bin/rsearch?
Nathan Birch
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#2 User is offline   KISSfan 

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Posted 11 March 2010 - 06:46 PM

Depends on the story.

Knowing you Nath, you'll probably pick it up for 20K and get $200 p/w for it, lol.

With a spruce up, and provided it can stay untouched by any local ferals until it is tenanted, it should be fine. My only other concern would be any potential trouble (damage) between tenants.

Regards
Marty
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#3 User is offline   Nathan Birch 

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Posted 11 March 2010 - 06:59 PM

Yep paid $22k for it....

:)

Fire damaged, but leaving enough fat for the next person which buys it.

Would get $200pw.
Nathan Birch
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#4 User is offline   KISSfan 

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Posted 11 March 2010 - 07:19 PM

Wow, my ESP channels must be wide open.

Regards
Marty
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#5 User is offline   sensazn68 

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Posted 11 March 2010 - 08:32 PM

NATHAN!! sharing is caring..but not after u've taken it!! GRRR...><
The 3 P's of life: Purpose, Passion and Perseverance
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#6 User is offline   Sam 

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Posted 12 March 2010 - 01:54 PM

I was actually looking in Moree the other day, i got excited when i found one for $70k, 3 bed house, then realise it's Owner Occ.

How did you manage to pikc it up for $22k? If you don't mind me asking.

But good job, like to see it when it's cleaned up a bit.
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#7 User is offline   Jezza 

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Posted 17 March 2010 - 10:48 PM

Nathan

WOW!

How much are you going to inject into it to fix it up or is it start over again job

Jezza
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#8 User is offline   Nathan Birch 

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Posted 18 March 2010 - 06:47 AM

Nah this is my listing, I am selling as is.

However I may spend 25k on it and sell for $130k-140k. Just deciding at present :)
Nathan Birch
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#9 Guest_kaybie_*

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Posted 18 March 2010 - 06:49 AM

Lots of work...but nice big block. And with four bedrooms but at the $200pw approx mark, it will always be in demand. From what I can figure there is a permanent pool of families that need a house (as opposed to a flat or unit) with several bedrooms but who can't pay more than 200 or so. I would sooner buy one in that category than a "nice" one over the other side of town and try to cater to the more fickle market of itinerant professionals. I assume this is on the east side of the river and probably below the railway line - tycannah street or thereabouts?
Ask me anything about Moree. Grew up there :)

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Posted 18 March 2010 - 07:03 AM

PS - to those looking in Moree - one thing I have encountered out there recently (well, last year anyway) is severe prejudice amongst property managers against managing houses in particular areas, and these are by far not the "worst" parts of town where I would have expected that response. The one or two who will do these parts, charge at the higher end. If you are going to manage yourself of course this is not a problem. It both did and didn't surprise me..didn't surprise me because the areas were historically houseo and lower demographic, but did surprise me as I thought that at (for example) 16 per week on a 160 rent, it's still money for jam even if you have to go out there, say, a few times a year. And I would have thought the agents were not SO flush with cash they could be that choosey. Having said that, it is still a way better town now than it was in the 1980s and early 90s.

#11 User is offline   Phil 

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Posted 18 March 2010 - 01:03 PM

One question Nathan,
selling the house as is, how long will it take to offload?
In your experience will another prospective investor be sniffing around sooner rather than later or will there be a lot of cautious "tyre kickers".
phil
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#12 User is offline   sensazn68 

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Posted 21 March 2010 - 08:16 PM

for those interested have a look around Lightening Ridge =]
The 3 P's of life: Purpose, Passion and Perseverance
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#13 User is offline   Gargamel 

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Posted 05 April 2010 - 09:56 AM

How much would it cost to repair the fire damage?
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#14 User is offline   Nathan Birch 

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Posted 05 April 2010 - 10:13 AM

View PostGargamel, on 05 April 2010 - 10:56 AM, said:

How much would it cost to repair the fire damage?


I am actually thinking on keeping it, I am taking my tradies there this friday and we area estimating approx $25k for full reno.
Nathan Birch
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#15 User is offline   Gargamel 

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Posted 05 April 2010 - 10:32 AM

View PostNathan Birch, on 05 April 2010 - 11:13 AM, said:

I am actually thinking on keeping it, I am taking my tradies there this friday and we area estimating approx $25k for full reno.


So $47k total....Nice
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#16 User is offline   Nathan Birch 

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Posted 05 April 2010 - 10:37 AM

View PostGargamel, on 05 April 2010 - 11:32 AM, said:

So $47k total....Nice


Yep val $130-40 and rent $200pw I just been lazy to get the work sorted :)
Nathan Birch
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#17 User is offline   KISSfan 

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Posted 05 April 2010 - 12:54 PM

So Moree looks a good place to invest then Nathan? ;)

Regards
Marty
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#18 User is offline   Nathan Birch 

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Posted 05 April 2010 - 01:05 PM

View PostKISSfan, on 05 April 2010 - 01:54 PM, said:

So Moree looks a good place to invest then Nathan? ;)

Regards
Marty


Wouldnt have a clue :)

JK's

As always mate as we know its all about the numbers, fundamentally all good, just need to buy well with the right return :)
Nathan Birch
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#19 User is offline   sensazn68 

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Posted 07 April 2010 - 01:10 PM

moree is a good place to invest- depending on which part.

it is a city with a population of 8000 with 3000 indigenous aboriginals. most positive cash flow areas are high risk areas where there are a large amount of housing commissions.
these places tend to be cheaper, get better returns but higher rates of vandalism, burnings etc. the returns there on average are about 12% =]
The 3 P's of life: Purpose, Passion and Perseverance
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#20 User is offline   Nathan Birch 

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Posted 02 May 2010 - 10:40 PM

View Postsensazn68, on 07 April 2010 - 02:10 PM, said:

moree is a good place to invest- depending on which part.

it is a city with a population of 8000 with 3000 indigenous aboriginals. most positive cash flow areas are high risk areas where there are a large amount of housing commissions.
these places tend to be cheaper, get better returns but higher rates of vandalism, burnings etc. the returns there on average are about 12% =]



http://www.facebook....2&l=ae3aada339.

Updated pics for those whom are interested!
Nathan Birch
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