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  • Profile photo of Andrew_AAndrew_A
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    @andrew_a
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    Post Count: 392
    October 15, 2011 - 6:21 am
    matthew.f wrote:
    I thought I would share my frustration with some new bank lending criteria. I have sourced a property in Brisbane 2km from CBD. Returning just over $1,100 per weeks and for sale in the low to mid $800k's. Gross returns for a house @ approx 7.2% gross returns. With 10% deposit and such great returns it seemed a no brainer. This house is in immaculate condition and the floor plan has been reconfigured to accommodate for 4 bedrooms all with ensuite and own kitchenette's. 4 seperate leases (for each room) accumulates over $1,100 income. Bank criteria will not take into account the extreme returns as they deem it to be student accommodation and then decipher what the true market rent they think would be…. $600per week (rented out on one lease). True rent to me is exactly the true rent that is on the leases? Any thoughts.

    By sourced a property I presume you mean you found a listing from your colleague and fellow sales agent at Ray White South Brisbane, Brent Compton?

    Profile photo of Andrew_AAndrew_A
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    @andrew_a
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    October 14, 2011 - 10:28 am
    Jamie M wrote:
    Shanina wrote:
    My husband and I currently buy properties and renovate them on the gold Coast. We are considering moving to Brisbane and doing the same thing but don't know which areas to even begin to look at! Can anyone suggest which areas to begin to look at to buy renovate and sell? appreciate any feedback!

    Andrew Allen is an excellent BA up there and posts regularly on this forum. He might be have some suggestions.

    Cheers

    Jamie

    Thanks Jamie :)

    I suggest networking with groups of investors and renovators to begin with, there are a few groups like this around and it's all a fun, inexpensive and low risk way to pick up ideas about the possibilities in the present market. These groups are mostly about investors helping each other as opposed to someone just trying to sell you something.

    Profile photo of Andrew_AAndrew_A
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    @andrew_a
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    October 14, 2011 - 3:41 am
    v8ghia wrote:
    Ok fellow forumites…..
    Got a friend down melb way who is looking at using a buyers agent, and asked me if I had ever heard of these guys. Not being from mexico I have no idea, but I see they advertise in API mag, and had a look at their website.
    Could I ask if any members have had any dealings with Advantage property consulting or know someone well who has, and if so, feel free to eithe PM me or post if you think it is of benefit any factual information on how it wetn and or their services you used. Appreciate the help…. Cheers

    Try the REBAA website to do some research on independent agents. http://www.rebaa.com.au/

    Profile photo of Andrew_AAndrew_A
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    @andrew_a
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    October 14, 2011 - 12:46 am
    Shape wrote:
    Yep buyers agent, as the name suggest "should" work for the buyer… I mean like any industry of work you do get some "bad eggs" and any buyers agent that "sells" property i would personally avoid as a buyer…so not sure what sort of reputation these guys are getting that your trying to off load your property to. Also be aware buyer's agent client tend to be "number" driven and all about the price…so good luck. Regards Michael

    Spot on Michael. More than just avoiding them like the plague it's also illegal to represent one side of the transaction and take money from the other in QLD

    Profile photo of Andrew_AAndrew_A
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    October 14, 2011 - 12:44 am

    If a sales agent can't sell units with genuine yields of 8-9% you really need to ask what's going on exactly.

    Profile photo of Andrew_AAndrew_A
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    October 12, 2011 - 2:40 am
    charlitayla wrote:
    I am new to buying property and would like to learn more, does any one know of any seminars held rather on the Sunshine Coast or Brisbane.That are free.

    Here are some excellent groups.

    http://www.meetup.com/BrisbanePropertyGroup/
    http://www.meetup.com/BrisbaneInvestors/
    http://www.meetup.com/Sunshine-Coast-Property-Group/

    Free the first visit, some charge $20-$30 per visit after that, so I think these qualify.

    Profile photo of Andrew_AAndrew_A
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    October 12, 2011 - 1:38 am
    Jamie M wrote:
    Wow, that's quite a drop. Do you (or your crystal ball) think they'll fall much further?

    Thanks for sharing.

    Cheers

    Jamie

    It's a really hard thing to say, plenty crave the confidence of knowing what will happen and meet a ready market providing that confidence for a modest transaction of their money.

    If we base things off yield alone then the market is pretty interesting at the moment, for example we just bought two flats yielding 7% a few k from the CBD, potential to bump that up quite a bit with reno work, plenty of higher yields around at the moment as well.

    Excellent market for value adding and upgrading presently, capital growth.. well that's anybody's guess pretty much like it always has been.

    Profile photo of Andrew_AAndrew_A
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    October 12, 2011 - 1:31 am
    Qlds007 wrote:
    Personally i think it is bloody fantastic.

    Seems to me like Brissie is becoming cheap again.

    Sure Andrew will agree.

    Cheers

    Yours in Finance

    Funny you should mention this.. but.. just have to point out similar thinking :)

    http://www.allenrealestate.com.au/?p=1191

    No guarantees anywhere, just like most of life, bargains can become bigger bargains and so on. Just pointing out that people really do run out of the shop when prices are falling, and of course most are buying near the peaks.. and I'm sure will be again!

    Profile photo of Andrew_AAndrew_A
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    August 21, 2011 - 4:25 am

    I don't usually play the cloudy day, and likely this will miss the mark.. but..

    If we are talking covered call writing (or anything trading related) then have a look at the buy/write index and assume that you are likely to track or under perform this on anything other than a very short term time frame (assumption being if you can't define your edge you don't have one). Adjust expectations and off you go!

    Profile photo of Andrew_AAndrew_A
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    August 18, 2011 - 12:48 am
    Henry Adams wrote:
    Andrew_A wrote:
    This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    LOL, is it ? I thought that the agent who works for me (JDL Strategies) has carefully select this property for my own condition for the best CG suburbs ? This is also reflected in the newest Smart Property Investor magazine this week.

    Henry I would think you were being sarcastic but the last sentence about SPI magazine has me not sure.

    Profile photo of Andrew_AAndrew_A
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    August 16, 2011 - 12:06 am
    benofbrisbane wrote:

    Hi guys

    thanks for your replies.

    I actually have a DA before council at the moment for townhouses in Zillmere.  I know there is a lot of action out there at the moment.   I am not overly wrapped in Zillmere myself because of the amount of new development there.  However, the numbers on this one are really good, so we are proceeding. 

    Andrew – why don't you like Zillmere?

    Beedie – I know there is  alot in Moorooka, but my thoughts were that they were selling though, perhaps returns are not as high as they might be due to the discounting of stock.  Greenslopes sounds good.  I guess doing anything in a subrub of that calibre is a little off for me yet, due the price of land. But I will certainly start looking there!!

    I guess I am after the places as you say where scarcity is the go.  Always a simply issue of supply and demand.  Where are you looking for your next one?

    Zillmere is fine, if you want cheaper development land then it's a prime suspect.

    I wouldn't want to live there, don't like the way they are cramming the townhouses on the blocks right up to the boundary often. But when it's about the numbers then all of that is academic if you carefully check your end sale prices and demand.

    Profile photo of Andrew_AAndrew_A
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    August 16, 2011 - 12:02 am
    Singer wrote:
    It's always been a turn-off for many people that they charge a percentage of the selling price.   Where is the incentive to get a lower price for you?       The higher price you pay the higher their commission.    Weird. 

    Fixed fees are popular for this reason.

    Profile photo of Andrew_AAndrew_A
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    August 15, 2011 - 11:53 pm
    Skydancers wrote:
    Thanks Andrew. Any thoughts on North Lakes?

    Criteria: Under $400 000, good return, newish, great location.
    Goal: Buy investment property.

    Cheers

    More specifics would be needed. This area is a minefield of marketeering, so need to do your research even more carefully than normal.

    Keep in mind one of the big concessions you accept sometimes with the new builds out here is the small block size, also I don't like developments with narrow streets and rows of houses that all look like each other, though if the numbers look good then it could stack up.

    Profile photo of Andrew_AAndrew_A
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    August 15, 2011 - 11:49 pm
    saqib wrote:
    Hi All,

    I am planning to buy my first property but not sure where should i start from, I can afford a mortgage of $180k and i have $80k in savings to use for the property, so i am looking for proeprty around $250k mark in Qld. Can anyone tell me which areas are good to buy (less property price)and where property prices will go up in the future or atleast stay the same!

    I heard properties in the area of Coomera Gold Coast is going down and i read in different articles that its best to buy property their now .. what you guys recommend ?

    I am just confused i work in brisbane city but wont mind travelling 1hr-2hr to get to work. As having a own property is much better than renting one!

    Please suggest!

    Thanks

    Hi Saqib,

    Just following up and seeing what action you took?

    Hope you did well!
    Andrew

    Profile photo of Andrew_AAndrew_A
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    August 15, 2011 - 11:47 pm

    How did your purchase work out Gurjjeet?

    Profile photo of Andrew_AAndrew_A
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    July 23, 2011 - 12:18 pm

    Thanks for the encouragement Jamie!

    Profile photo of Andrew_AAndrew_A
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    July 22, 2011 - 11:31 pm

    Independent Buyers agent any day over someone marketing you property.

    Important to ask how much volume an agency is doing, cost of running a national business, marketing & promotion aren’t cheap. If you are buying 10+ properties a month per agent it might be difficult to devote a lot of time to one client.

    I’m about to inspect property #23 for a client today.. makes me want to get into sales or marketing some days :)

    Profile photo of Andrew_AAndrew_A
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    July 22, 2011 - 11:23 pm

    You mean a city wide map of LMR zones? PD online is pretty good once you zoom out with the LMR land hilighted, not aware of a better resource. Also if you a tracking an area then planning alert is an excellent site.

    Depends on budget where you might look, Zillmere doesn’t excite me longer term the way it’s developing but with development to sell it’s mostly about the numbers and not the location.

    Excellent buying out there for renovators and development blocks, because so few are compared to this time last year!

    Profile photo of Andrew_AAndrew_A
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    July 22, 2011 - 11:19 pm
    TaG80 wrote:
    Am looking at purchasing a property North of Brisbane, which I believe is priced ok, due to the market coming back a little in recent months, however wanting to know if I should get in a sign a contract before 01st August when Stamp Duty will nearly double, or wait until after the 01st August to see if there is a "slump" due to the stamp duty being increased?

    Also, anyone have any information on long term eg. 5 – 10 year growth predictions of the North Brisbane suburbs like Murumbah Downs, Mango Hill and Griffin??

    Cheers,

    TaG

    Tag are you being sold this property? Just that these areas are marketing central for people flogging new house and land packages. Also they love their 7-10 year predictions.. never go wrong… invest for your retirement…. 8/10 Aussies retire broke.. and so on

    The market has come back more than just a little out here, some outstanding value compared to 12-18 months ago.

    Profile photo of Andrew_AAndrew_A
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    July 22, 2011 - 11:13 pm

    Focus on the Brisbane market, but also Australian property and investing thoughts.

    http://www.allenrealestate.com.au/?page_id=95

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