Investment property anyone??

[Pub247]

Me and the missus are currently looking at buying/ building a house
Anyway Lauren stumbled across this property looks like a good deal
12 ARLEON COURT SOMERVILLE











Looks like the new owner wont be the only one's getting a good deal

[nicko]

$1.00 a year, life time lease. Who do i have to sleep with to get that

[Ado]

Hope the tennants are bloody old.

[NORTI]

WTF?

Am I missing something? where is the gain for the buyer here?

What sort of court orders that kind of thing?

[pow3rslave]

slightly off topic, but check out lovelylisting.com it's a blog of the worst photos posted on online real estate sites
eg:





who would put this on a PROFESSIONAL property listing?!!

[Pub247]

Hope the tennants are bloody old.

The no.1 question id be asking when looking at this

WTF?

Am I missing something? where is the gain for the buyer here?

What sort of court orders that kind of thing?

the house is probably selling for about 30% or more less than market value (dont ask me though im no expert on property) theyre also banking on future growth to net you big return

[Ado]

Could possibly be from a will.Partner may have died and this helps out the other.Sale price may equal the mortage left.That way they have their house until they are dead with no real debt.

[Pub247]

Could possibly be from a will.Partner may have died and this helps out the other.Sale price may equal the mortage left.That way they have their house until they are dead with no real debt.

has to be said... I wonder if there's a set of stairs in the house

[NORTI]

The no.1 question id be asking when looking at this


the house is probably selling for about 30% or more less than market value (dont ask me though im no expert on property) theyre also banking on future growth to net you big return

Only if the owners die or move?

[Ado]

has to be said... I wonder if there's a set of stairs in the house

Nah a wet floor would do the job.Goes and gets hose.

[tommo82]

I don't think you'll get much capital growth in Somerville.

[STEALTHY™]

Only if the owners die or move?

The dying bit is all but guaranteed

[Reaper]

I know the area. Not my first choice for capital growth but it isn't the worst by a long shot. That said - don't touch that one with a 10 foot pole.

Reaper

[And_ROOS]

Thats right around the corner from my house, ill go scope out the owners and see if they are elderly, maybe give them a scare

[cpbait]

lol, thats bad, if i was the tennants id buy it despite the court order as in the long run it will be a winner either way for them but yeh a big no go sign on that one for anyone else.

[Joe Peeps]

lol, thats bad, if i was the tennants id buy it despite the court order as in the long run it will be a winner either way for them but yeh a big no go sign on that one for anyone else.

the tennants would be crazy to buy it! they are basically living rent free. i cant really see why anyone would buy it

[VrWagz1]

That is not really a good deal at all. Long term contracts are a big danger, BUT.....If you could leave them there for a while and evict them on a technicality that would be sweeeet. *Runs off to think of sabotage plan*

[davway]

makes you wonder if they are from the native land or if they are boat people - without trying to be racist.

[Zuicider]

what if sumthing in the house dies, your responsability would be to fix it at cost to you

[Reaper]

makes you wonder if they are from the native land or if they are boat people - without trying to be racist.

I think you would find the house is the subject of some screwed up family court order.

Reaper