13 Dehlia Street, Marsden.
A whizzkid real estate investor who bought almost one property a month through COVID-19, has picked up another Brisbane home sight unseen over the weekend bidding remotely from Sydney.
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One of two kitchens in the property.
Mr Dilleen said he had been eyeing off the Marsden property since it was brought to his attention by real estate contacts, and bought it on Saturday after bidding over the phone for it.
“Bidding was good, it was just me and two other people,” he said. “It started at $280,000 and ended up at $309,000. My max price I was willing to go to was $310,000 so I stayed just $1000 under budget.”
Eddie Dilleen bought the property for $309,000.
He said based on a rental income of $500 per week, it would be an 8.4 per cent yield for a house and granny flat on a 940sq m block.
“I was confident it would go for that price as I tried to do as much background research as possible about the other bidders and sellers selling position.”
He said all his research and bank valuation came back at around $360,000 to $380,000 for the property.
There are two properties in one.
“The downside of auction was that it was an unconditional contract, and I didn’t have much time to do more in-depth pest and building checks. Also I didn’t have finance pre-approval yet either – luckily settlement I negotiated was 90 days to organise it.”
The property at Dehlia Street, Marsden was marketed as a large home with an attached granny flat on 947sq m by Rebecca Cuderman of Ray White Marsden.
She described it as having “so much more than meets the eye” with tonnes of potential off the large block close to all amenities.
“Freshly painted externally and a fresh coat on the walls internally, you’ll be pleased from the moment you pull up,” was how she sold the property’s features.
The block is 947sq m.
The property is 400m to bus stops, 550m to Pauline Park, three minutes to Marsden State Primary and State High School, three minutes to the recently refurbished Marsden Shopping Centre, 10 minutes from Loganlea Train Station and Logan Hospital, a half-hour drive to Brisbane CBD and 45 minute drive to the Gold Coast.
“A little bit of love will go a long way here, the opportunities are endless,” was how it was listed on realestate.com.au.
Mr Dilleen bought
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