[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 11:33 pm

Hi Matt,

A developer in Ryde put in an Ad in the gumtree and asked people to come get what they want from the house to be demolished.  And made money out of it.  Renovators, re-sellers, recyclers, all came and paid him money for old doors, old stained windows, old door knobs, old timber.   A recycler bought the old bricks.  People renovating period homes came and got what they needed and paid for it.

Others advertised for free home, you take it.  Don't throw it away unless it is an absolute dump and only the termite wants it.

The money you make might pay for application fee.

Let us know how you go.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 11:26 pm

Hi Allen,

I wish such a program exists! 

I'm afraid, hard research is the only way forward.  Each development is a case by case basis.  Where the development is is critical because every State, every council have their own fees.  Some tradies or contractors also charged by postcode, believe it or not.

This is why you haven't got anyone to reply to your question.  There are far too many unknown variables.

Give more info and perhaps more help will come.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 11:21 pm

Mav86,

The benchmark is the term deposit.  If you can achieve 6.5% earnings on term deposit, then the return from IP should be higher.  If not, what is the point?   Park the money in TD, and sip margarita (or guzzle coffee in my case).  For a lot of work, you should aim to be generously rewarded.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 11:15 pm

Hi Harry and Lloyd,

No such thing as oddball question.

One of my homespun philosophy is:  "Better to ask dumb questions than be damned." 

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 10:48 pm

Hi Nonnie,

You need to also prove a point to the vendor:  Yours is not the only house in the market. 

Keep looking, you can't afford to have tunnel  vision. 

Call the agent and say that you have made an offer for a similar house in the area and will buy whichever is accepted first.  The market being very soft, you'd be surprised how negotiable it becomes.

Take care and good luck.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 10:47 pm

Hi SpringchickenIn.

Wow, you impressed me a lot.  You are a credit to your parents.

I will point you in the direction of Doonside, Penrith, Mount Druitt.  Massive price corrections in the South, North  and Central coast of NSW. 

Regional Australia, too.

In South Australia, there are a lot of place within 15km within budget and good rental return.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 10:28 pm

Cuteyoungchic,

Sweetheart, the motivation will return.  Nice and slow,  take it from someone who's been there and done that.

Divorce is not the end of everything.  It could be the beginning of new things to come.  Everything you learned along the way can't be taken away from you.  You start with that knowledge as your foundation and build on it brick by brick.

Buffet is right about his own personal experience, when you marry the right person, and become the right person for him/her, the partnership can be unassailable.  But not one of us married thinking of divorce as an option.  We mostly all think it's forever.   It never entered my mind but it still happened. 

To all the divorcees on the forum, or about to be, I have a nugget of wisdom to hand you:  Happiness is the best revenge.

Happiness will come slowly to you but it will take time, give yourself that time to heal.  Don't be bitter, it doesn't cause pain to anyone but the person harbouring it. 

When I left the marital home, with four kids in tow (the eldest being 6 and the youngest 12 months) I had to get cash adavance out of my credit card to put a bond for a house.  We left with one suitcase and the kids who could walk a backpack of clothes each.  The world was hard and dark.  People who knew me asked where I found the courage, I said, "To stay would have been worse."

From the pit, I clawed my way out.  It's been 11 years, and there are days when I think I'm still in the pits.  But mostly, even from the pit, I can see blue sky.

One friend said to me that what he likes about me is that I'm such a positive person.  I said to him, "yeah, I am.  I'd be the only person you'd know who'd have a smile on her face in a firing squad line up.  My smiling face would be indelibly inked in my shooter's brain for as long as he lives."

I hope this inspires others in the same situation to believe things will get better.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 10:02 pm

Hi Catalyst,

I re-read all the thread, I don't think anyone suggested that low income equates to high risk.  Everyone simply stated, truthfully, that it depends where you buy.

As for me, I have investment in high end places like Avalon and Cammeray in Sydney and Tea Tree Gully in SA..  But I also have properties in Richmond NSW, Smithfield Plains and Millicent in SA.

It's really not whether its low income areas, it's about picking the right houses in the right location. 

I only wondered why he picked low income areas that's all.  There was no suggestion of high risk.

My next project will be likely in the Eyre Peninsula of SA.  Not high income, is it?

Take care.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 13, 2011 - 9:23 pm

Hi Kimberly,

You're not alone.  I'm stuck at a cross-road, unable to decide which way to turn.  I'm pretty sure though if I don't make a decision, sooner or later, I'm bound to get run over by a truck.

It's been a series of elimination. 

Where I'm I at?  Well, I've eliminated the USA because there's just too much uncertainty, the AUS$ vs the US$ being one of them.  I'm too old to be doing this I reckon (the accompanying photo is a lie, this was taken 2 years ago).  At 53 I should be winding down, not winding myself up. 

My point being you shouldn't just consider the financial aspects of your decision but also your risk profile.  A lot of it is mental and psychological.

If it's a decision you can cope with, then let the math guide you.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 11, 2011 - 7:59 am

Hi,

If you sell the air rights, you impede your ability to later sell your block, as collective owners, to another developer.  No one would buy your block  for good money if they know they can't build anything higher than 3 levels since the air above it has been "bought."

I wouldn't be doing it.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 11, 2011 - 5:22 am

Hi Kate,

Here is a creative solution.  Since it is your boyfriend's house, ask him if he is willing to lend you the shortfall so you don't have to pay LMI.  Eleven thousand is a lot of money, if you can save this, it would be a boost for the next one.

Discuss with him how long he can wait for the balance; the exit strategy (revalue after 12 months, for example); and interest on the balance if required.  Being your boyfriend, he should be willing to just let it slide.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 11, 2011 - 4:49 am

Hi gn2011,

Unfortunately an independent valuer can only give you an estimated price, and estimated rental but will not be able to tell you neighourhood, community stuff.  It is expected that you would have covered this in your research. What you are expecting from the valuer is outside of their remit, but I could be wrong.

Rental estimate should also be taken with a grain of salt.  If there is a flood of units, all being built at once, and all being available at the same time, there's going to be many landlords competing from the same pool of potential tenants.  High rent can only be obtained when there is scarcity but not when there is a flood of available, similarly designed and sized units. 

Your best plan of action would be to call a valuer listed in the yellow pages and asked him/her if you would include community, neighbourhood, infrastructure topics in his valuation.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 11, 2011 - 4:42 am

Hi smartgeny,

You have the correct premise.   A smart lady once asked me a rhetorical question, "How many negatively geared properties can you afford to hold?"  The answer, she said, is "None."

I totally agree.

I'll add another, if the mortgage repayment is exactly or near what you'd have to pay in rent anyway, buy!

There's no point paying $500 pw rent on someone else's property if it cost the same to "rent" it from yourself.

Congratulations, you're on your way.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 10, 2011 - 9:08 pm

Not Asian builder, Turkish.  One of my best mate.  

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 10, 2011 - 9:05 pm

Don't do it!!!!

You can source your own IP.  Research, research, research.

The way to stay away from high pressure sales people is to be unavailable.  If you front up to them, they have an asnwer to all your objections.  It's best to not be around to object.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 10, 2011 - 8:55 pm

Hi gn2011,

"I'm looking at buying an off the plan investment property, is there any point in getting an independent property valuer?  If so, any recommendation in Melbourne?"

The short answer is "no."
 
Off the plan purchases can be very tricky to value.  No one has the crystal ball to know what a property will value at at the time of completion.  And, no one will know, with any degree of certainty, what the workmanship would be like.  Unfortunately, the show room is not an indication either.  Any Meriton buyers will confirm this.  Example:  my sister-in-law bought a Meriton built-apartment in Hornsby.  They are on the second floor.  The bathroom was leaking from above.

Rhodes apartment buyers in Sydney are now realising that their off the plan units, now completed, comes with toxic smell. 

Off the plan buyers in one of the developments in Alexandria Sydney, when completed, discovered that rain water gushes inside the lock up garage. 

I have said it before, and I will say it again, if you want new, buy one that's 3-years old.  All the warts would have come out by then.  If the walls will cracked, it would have done so by this time.  If it has flooded, you will know from the strata report (read it carefully, find out what that body corp is spending their money on.  If you see plenty of repairs being done, bail out… pronto!).

I didn't know this then when I bought my unit in Hunters Hill which I had since sold.  I didn't read the strata report my conveyancer requested for me.  Had I done so, I would have saved myself thousands in sinking fund. There were so many repairs being done that the regular body corp fee wasn't enough.  I recall this experience with shhhivers running down my spine.  It was an absolute pain.

At the end of the day, though, it will remain to be your decision. 

Take care,

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 9, 2011 - 7:17 pm

Hi Shape,

Mine cost only $3,500 to build 6 years ago.  Labour and materials included.  Materials were thick pine.  Bolted to the wall.  didn't try to save on materials as the last thing I want to happen is the tenant crashing down.  The whole thing was done in a day.  Allowing for inflation, I should think this simple design will set-up back $5,000 (if you have a good handyman who will not fleece you).

My design was simple.  Double bed on top, a small landing at the top of the stairs so tenant can put some stuff down like a book or cup of coffee.   Underneath the bed is a living space.

Others do it slightly differently, and more costly. They will put in a built-in a wardrobe underneath.  Since my studio has built-in wardrobe, I just opted for an empty space where tenant has their three-seater sofa and coffee table.

It was money well spent as it immediately increase rent by $70 per week. 

I hope this helps. 

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 8, 2011 - 7:24 pm

Ravi,

One other thing, there is something so bold and unconventional about options.  So romantic and glorious.  But the authors of these books forgot to tell you that options doesn't happen everyday.  You will make hundreds of offers before one even happens.  On top of that, these properties need to be very specific.  It can't be any property.

People think, "oh I can do this with no money."  What they actually mean is not huge money, but money you will need. 

Regardless of what books tell you, reality is a different kettle of fish. 

Like what everyone has already said, you will need to obtain some kind of leverage and that means loans.  No income, no loans. Small income, small loans.  Big income, big loans.

Do not under estimate the value of a "piece of paper."    If uni is not for you, then get a trade in the industry.  an apprenticeship or a certificate will do for a start.

The richest people I know are carpenters, brick layers, plumbers (especially), electricians (more so), roofers, don't forget the landscaper.  They leverage their skills.  Talents.  Mates. 

Fuel your desire with your enthusiasm.  You will get there.  Self-belief is 70% of the whole lot.

Take care.

angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 8, 2011 - 7:10 pm

Hi Patrick,

I always go to http://www.domain.com.au, click on property report.  Type in Inala, click search.  The median price for the month will appear,  then you can click on demographics.

I cut and paste the Inala demographics here so you have an idea what it looks like. It is important that you interpret the data carefully.  It also compared Inala vs the Brisbane local government area as a whole.

It is also important to practice using these resources that's available on the Net.

I hope this helps.

Angel

Demographics for 4077

Main Tab:

• Sales data
• Demographics

Population	4077	Brisbane LGA
All People	22338	1093301

Age Group of Population

Country of Birth

Dwelling Structure

Education Attendance

Housing Loan Repayment

Marital Status

Nature of Occupancy

Occupation

Religion

Transport To Work

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

May 7, 2011 - 9:40 pm

Hello,

Auburn.  Close to the Sydney CBD.  15 mins on Express train.

Angel