Jenman’s success in real estate has come from honing in on people’s greatest fear – being ripped off. He has used this as a strong marketing tool, but having worked in the industry for many years, his principals are based on common sense – principals that all agents should abide by. What sets him apart from other agents? Well, he just talks more about the way things ‘should’ be done. I’ve dealt with a few Jenman agents and I dont think they’re any better than non-Jenman. In fact, its a bit of a joke when you consider they are supposed to be the angels of the industry!

Hi Banner,

Living in Country NSW I can tell you that there are great opportunities out there. I would think you will need to focus on certain areas and go from there (whether it be Lismore area, Wagga area etc etc). The most important thing though is to research the areas well. Having lived in Wagga for 2 years and now Albury, I can tell you there are some nasty areas/suburbs that if you bought into due to low pricing you would soon regret the purchase. High vacancies and poor quality of tenants are just the tip of the ice berg.

Hound the local agents for information. If the selling agent sounds cagey about the area chances are its dodgey. You could even ring the local council or police station for advice.

Wishing you every success. []

Andrew.

Hi Sooshie,

Does your brother-in-law wish he never demolish the old house?? A block of land recently sold in my street after the oringal owners bought the property to build a new house on. They demolished the old house, then got quotes to build, soon realised they couldnt afford it, and the block lay untouched for years!

Have a great day.

Andrew.

Political motivation aside, wouldnt it be a question of whether the transaction is going to benefit you in the long run, rather than saving 1% on stamp duty?!

I dont like paying stamp duty any more than the next person, but its an “evil” i can do nothing about! Only other choice is to not invest, but think of what you could be missing out on!

The figures quoted in the article are indicative of the huge rise in building costs in recent times. Whilst I dont agree with the figures, the principal of whats happening is completely true.
I’m in the process of getting quotes to build a 4 br house and its amazing the different prices being thrown around.

I’m finding that if you go to the builders direct, they quote huge prices simply because they dont want the work. They’re booked out 12 months in advance, and if they snag an unknowing buyer at $80,000 or so above realistic prices then they’ll be laughing all the way to the bank (and very obliging to your needs by the way!![])
If you go to marketing companies like Executive Homes, Glenbrae etc, the prices are more realistic.

So what I’m basically saying here is, yes what they’re saying in the article is true BUT look around and find companies which represent builders. Not only will the prices be fairer, but you’re protected by contracts which prevent unjustified price rises.

Hope this sheds some light on the subject.

Oh and by the way, where I live (Albury) allowing $8,500-9,000 per square (not square metre) is reasonable.

Hi fullout,

Buying an investment property with a pool can become a bit of a nightmare.

From experience (I used to be a property manager), tenants get excited when they see a sparkling pool and have visions of pool parties all summer long etc etc etc. It becomes a totally different story when they realise the work that goes into looking after the pool (and by the way, they dont look into this before they sign the lease!).

So what was once a beautiful looking pool sometimes becomes a murky cesspool – filters bite the dust and if its a concrete pool and it stays murky for too long, you’ll need to repaint it.

So in short, I wouldnt touch it.

Good luck!

PS I read your post about the land in Melbourne, and the nasty clauses that seem to go with it. Can I ask where in Melbourne the land is?

Hi everyone,
Seems to me that some people invest more effort into proving something wrong, than embracing the concept and making it work for them.
Sounds like self-induced failure before you even begin!
A.

Hi Tom,
Theres a big difference in people’s definition of rural towns. Would you classify Albury-Wodonga, or Wagga Wagga a township? They are in fact cities offering great investment opportunities. Other rural cities in Victoria that I would look into are Wangaratta, Shepparton, Ballarat etc. My advice would be to steer well clear of ‘townships’ with population of less than 20k. There’s much greater risk of buying into a ‘stale’ are with limited opportunity for growth.
Well, that’s my opinion anyway!
Andrew.