Forum Replies Created
this is an old age debate that can never be solved as you will never know if you would have done better with an agent. I agree with the earlier comment that the general public doesn’t like to deal with the owner direct. There is nothing in it for the buyer so why not go to a property where they get the benefits and protection of buying through an agent? Typically private sales are homes that have been appraised by an owner, the owner thinks it is appraised too low, hence the they put it on the market at an over inflated price.This is where the sharp buyers move in on a stale property and eventually get it at a discount. If you are very clued in to as to what your property is worth and you market it professionally and can negoiate well I think you could achieve the same results as an agent – ‘could’ because you will never know. I do think people tend to focus too much on screwing the real estate agent for a % of commission rather than focussing on getting the best sales deal.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
does anyone know what the defining difference between a gen x and gen y is? I can’t think why 1976 would be chosen as a cut off year. I am a gen x and my girlfriend a gen y and we don’t have any major differences in outlook.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
thanks Chris – that is one of our few options. I am told chattel mortgages are min. 12 months and we only need 4 months till the house is attched to the title, but it may have to be the option of last resort!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
interesting. I see the investors club is promoting itself as a self help organisation??!! perhaps macdonalds should market itself as a ‘self help sustenance club’!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Hi Micasa – the CGT depends on what they cost you to build. Don’t forget the GST as well… they are considered new properties if you sell within 5 years I believe.
The next question would be what will you do with this money – where wil lyou find cf+ property?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I find that land is generally not listed… perhaps the agent fees are not sufficient for it to be marketed extensively or something. It means there is an opportunity for you there – however once you get the land you have to be able to build on it which is proving difficult in WA, the industry is still well under the pump.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
actually I don’t know the exact ins and outs of this but I believe the banks couldn’t care less about where interest rates are going (from the point of view of pricing fixed rates) – they just raise the money fromn the bond market and add a margin to it. Can anyone confirm if this line of thinking is correct?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
and obviously as the population growth continues and inflation marches on and we experience growth it would be more surprising if gross debt actually reduced. They could have that article printed up and ready to run on a regular annual basis! actually is the billion they talk of 100 million or 1000 million? at 1000 million it is still only $38000 per head of population which sounds very low – do these numbers exclude mortgages or something?
Personally I couldn’t pay my debt off tomorrow and can’t really see a problem with that. As long as the asset backing is there I figure I have a good 30 or 40 years to pay it off – what’s the big hurry?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
$10,000 – includes a couple of huge norfolk pines, an asbestos house, brick bbqs, an old shed, disconnection fees etc. demo seems to range from $8 to $10k for a typical house.
Extensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
Hi Beth, I just went through this process. The industry is so busy that trying to get people to look at it was a battle. I have heard stories of people promising to take the house away and then dragging their feet and holding up the development. I gave up and just appointed a demolition contractor.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
consider Karratha – the supply contracts are very long term i.e. 20 years plus, and hence more insulated from typical mining towns where mines can shut overnight if commodity prices move against them. It is difficult to buy into there though and supply is tight.
FYI I own a property in Karratha
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
first it was interest rates must rise due to booming conditions, now it seems things are rapidly coming off of the boil. From todays AFR:
“Taken together, the numbers suggested to most market economists that the RBA is highly unlikely to act on its long-declared threat to raise interest rates further, while the forward-looking futures market thinks a cut is in the cards.“They are shocking numbers and point to downside risks to growth next year,” said TD Securities strategist Stephen Koukoulas. “At the least it means there is absolutely zero chance of the RBA raising rates.””
Confusing signals!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
poverty doesn’t equal happiness. why do some people find it so hard to work with and find the positives of western society? There are many 3rd world countries that would gladly accept your immigration application – just so long as you take more than 5 bucks in your wallet. I for one love this ‘consumer’ society and the freedoms my forefathers established for me. Perhaps we need poverty and desperation in our own lives to truly appreciate it?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
“Besides, I now live 1km away from the beach so ner…”
Here’s this thing with the beach again. I live about 5kms from the beach but couldn’t tell you exactly because its been about 2 years since I have seen it… bl00dy horrible place, cold and windy for half the year, stinking hot and sandy for another quarter, ok for a few days here and there, but that sun blaring in every afternoon. I just don’t get it! But I will join this stange phenomona and invest with the flow…
Extensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
peope love these discussions (including myself) – they are very exciting…boom, bust etc. To say negative gearing is just crazy speculation is a total dismissal of decades of data. If I had the cashflow to fund it I would quite happily buy in a prime beach side suburb (in Perth anyway… I have no knowledge of the other markets). If you truly don’t believe in neg gearing and cap growth then you should rent your own home and not own it (as it costs you money on a cash basis and there is no garauntee it will increase in value).
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
yes the Investors Club for example is one group that can sell almost anything; in my experience their selling fees / commissions tend to be a bit high though. Worth a call though…. maybe bite the bullet on a few and keep the rest until completion.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
definitely – the whole region from say Atwell to Mandurah is undergoing a huge transformation. You couldn’t go wrong with Bertram, Warnbro, Secret Harbour, Madora, Golden Bay, San Remo, Meadow Springs, Lakelands, Rockingham, Mandurah Central, Silver Sands, Halls Head, San Remo, Setllers Hills, Rivergums etc
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
maybe get an ‘on completion’ valuation and discount it by 10% or so for the first x sales? The question most buyers would be asking is ‘why should I buy now as opposed to just waiting to see what the whole finished project looks like?’. Competing on price though is not always the answer… you need to look at the unique attributes of the development and hopefully you are developing a product that people will realy want and be willing to pay a premium for. You need to isolate what those features are.
Try offering it to the agents to see if they want to buy one for themselves at a discount too; take the commission off the price.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I have a furnished rental property. It is surprisingly cheap to fit these places out. At the end of year 1 my average return is only slightly higher than a non-furnished property, so would I bohter with it again… probably not for the hassles of running around setting it up. Now that it’s done it’s ok. This place is 3 bed; I previously had a one bed unit that was cheaper and the % return and occupancy was quite a bit higher – it’s a very price sensitive market you are appealling to.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
most people would assume planners would act in their best interests, not their own. this is impossible when their commissions come from the products they sell
So I assume that you also don’t like or use Finance Brokers, Real Estate Agents, Property Managers, Insurance Agents, Stock Market Brokers , etc.
For independent advice:
Finance brokers – yes but tread carefully
RE agents – no
Property Managers – no
insurance agents – big no
stock market brokers – big noJust because I don’t consider their advice as independent doesn’t mean I don’t use them. I just know full well that they are sales people with their own interests at heart. Does the general populace realise that an FP is in the same category? I honestly don’t know… I hope so. I still think the industry is disfunctional and should be based on hourly rates – true independent wealth creation advice; but this is a whole new debate. From the people I have spoken to, this is what they thought they were getting when they went to the Financial Planner aka Sales Agent.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
