Forum Replies Created
wow – that’s awesome! no wonder the hype about NZ! In WA there is no escaping the stamp duty… if a nomine isn’t listed at the time of the sale, then it isn’t happening. and no you can’t list the telephone directory as nominees; I believe it is limited to approx 10 names.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Tracey just do plenty of research before you take this on. Commercial property is a breed of its own and has sunk many a strong ship – to have it as your first IP is a bold step. If you only understand 50% of what’s going on then it may pay to employ a buyers advocate to look over the deal for you. If they say it stacks up and the quality of the lease etc is fine, then at worst you will have bought yourself some good nights sleep. Remember the agent works for the proeprty owner and has no interest whatsoever in you getting a good deal.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I am sure his material would be copyright.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
my point is though: it doesn’t matter what your calcium source is, be it milk, soy, whatever… if it is only in your coffee or an occasional bowl of cereal you can’t be getting enough. Am not criticising as I am the same – but you have to expect long term implications such as low bone density.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
Super Ted – if it is only going in coffee and random cereal then how much calcium are you getting in your diet?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
with realestate.com it is a fixed subscription charge for the office regardless of how many properties they put on. If they are subscribed and don’t list it, well I could only think they couldn’t be bothered doing it. Some smaller agencies don’t subscribe as they simply don’t have the volume to justify it, or their licensee doesn’t believe in the effectiveness of it. Having worked at an agency that did have it, I have now convinced my new licencee to sign up as it really does generate strong leads.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
interesting point Alf – affordability has a huge impact on the market. you only have to look at larger cities like London and NY where so much of the population live in apartments. the aussie ‘dream’ of the 1/4 acre block is a 1950’s fantasy that will slowly fade as the reality of population pressures increase. in the meantime, if you can afford (and actually want) that 1/4 acre block, grab it!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
grim! but then what is a valuation worth really? just have a talk to the valuer and I am sure they’ll bump it up $20k for you. Talk really nice and they may bump it up $100k. A house is only worth what someone will pay for it – and you can’t possibly predict who will walk through your front door when you put it on the market.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I have heard the problem arises in the mortgage security… Yankee Doodle Mortgages doesn’t want to have to come down to Bourke in order to foreclose you to get their money back, hence I doubt they would do it. If it is possible, someone please correct me as I would be keen to explore it. Maybe we need to start a thread in the Finance forum?
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
hey Westan – you just snuck that reply in before me! glad to see we pretty much concur.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
The later – capital gains receive more favourable tax treatment, plus the benefit of the compounding value of the asset (unless you are dedicated enough to reinvest all your income, in which case what would you invest in and why bother – why not just pick the other in the first place?). However if I was starving and looking for my next dollar, or if I was terminally ill and only had 5 years to live, I may prefer to take my income in the form of high rent yield. Conclusion – depends on your personal circumstances. It also depends if the 10% capital growth has been garuanteed and by who… which wouldn’t happen in reality. Not that rent yield is garuanteed either!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
John are you referring to the BIS Shrapnel report that forecasts rates hitting 10% in 2008, inflation, recession before recovery in 2010? Its a very interesting scenario they have laid out.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
its never happened with any of my deals, but my preferred broker tells me it can and does happen. I know many of my clients need to get their finance ‘refreshed’ on OTP deals that drag on longer than expected as the approval is often only for 3 months. If they pulled finance on you I don’t think you would have any legal recourse – the fine print would well and truly cover it.
Even with loans in place – my broker told me of one situation – in Bunbury I think it was – where one of our esteemed major banks decided overnight that it wasn’t comfortable in that region anymore and withdrew finance to all the businesses in that area with a very short time frame to find a new bank. Apparantly they were ruthless and disinterested, yet they are still a big glossy major bank! Not sure if this can happen with residential property due to the UCCC (I confess here and now I know very little about the UCCC), then again most investment property isn’t within that anyway. And Peter Spann tells us on a different forum that margin calls can and do get made on property that are declining in value (to my surprise) despite a very heated debate on this forum about this topic approx 6 months ago.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
yes but (playing devil’s advocate here) is growth just another term for dead equity? you can only realise the gain by selling and being slugged with tax, or borrowing against it. Equity for equity’s sake is a fruitless pursuit, not unlike the desire to own your PPOR outright.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
I think Kristine’s point was that you can have a written offer for finance approval from a bank and so the contract becomes unconditional, then at any time the bank can just change its mind and withdraw the offer e.g. the bank discovers you lose your job the day before settlement and withdraws its offer for finance. You can never be certain of getting the finance until the property settles – this is a very serious problem and can really leave you up to your neck in it.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
yeh hey we’ve all been duped. I was in Perth on holidays once looking at top end property and wandered off track a bit, found a home open that appeared great value (a private sale I should add). The bank approved finance no problems and I engaged all the experts I could think of at that time, engineers etc. So I thought all was cool, then I found out later I had paid about 10% over the market. I assumed at the time that the bank would tell me if the valuation didn’t stack up, but hey they just took security over my other properties and shut up! Dumb I know… luckily time eroded my loss and I actually sold for a healthy profit after a few years.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
plus if you add rent then you have to deduct the income that you are earned from the otherwise dead equity in your house – and you would probably be negative then!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
OH! I didn’t realise Anita Bell was the author… it all comes together now! yes, its like “now dont have a shower today, use the money saved from the water to pay off your mortgage – presto, one step closer”
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
real estate – over regulated and will continue to be more so. over supplied with agents… its a tough gig. at least selling cars has set hours!
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
interest rates probably have peaked, so I think it’s a shocking strategy. Your entry and exit costs would more than exceed any small gain you may potentially make.
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
