Forum Replies Created
wow that does sound good. who cares about resale – hold it for 20 years and bulldoze them!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
when you start generating income after completion you can claim the ‘dead’ interest on the block. I would just sit tight – cash flow isn’t as good but saves doing dodgies on the ATO.
Shadow line cornicing is cheap and gives a modern finish. Polished concrete is big. Checkout commercial window frames and of course low voltage lighting. And for what it costs (about $300), chuck in a 3 phase power board.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
…with Itchi and Scratchy as the main characters!!!
maybe a more general approach is required – if you own a house outright in an upmarket suburb, have a flash car, own a boat, and say $1m equity in investments and can live off your investments, I would loosely describe such a person as a ‘millionaire’ in the true Thurston Howe (Gilligan’s Island) sense of the word.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
My story isn’t shocking but was a bit stressful at the time. I had a tenant without an agent involved. I was overseas when he decided to suddenly stop paying rent. I had to rely on my poor old parents to hassle him etc. Eventually I told him I was appointing a managing agent and that seemed to scare him off. We called a locksmith and forced entry to the house – alarm was set so we had to smash that to stop it (the tenant had installed it). We discovered that he had converted the bathroom into a dope growing operation – holes in the floorboards for draining etc etc. So I had some repairs, lost rent and was hit for a very large water bill that this guy ran up whilst running his ‘nursery’ businees. Oh and also I had every druggie from Perth to Armadale knocking on the front door for teh next 3 montsh ask for “Dan” ! A lesson well learnt there… if a tenant slips on paymenst, act fast. Do full regualr inspections, and in my opinion, use a managing agent! Also get good landlords insurance.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
it doesn’t have to be off the plan – it has to be new and suitable for foreign investment. e.g. you can only sell 50% of the development to non-residents. We have just finished a triplex, so can only sell one of these to foreign persons for example.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
if you are putting in a decent amount of equity and buying in an area that you aren’t familiar with, a proper valuation would be advisable. I once paid way too much for a property despite the bank doing their valuation – the bank didn’t care as they held cross collateralisation. I naively assumed the bank would have given me a warning sign. This was back when I started out. I also tried to track down someone that could give me an opinion on the building’s construction. Some guy walked around and wrote a report saying it looked fine, gave me a whole heap of disclaimers and charegd me a few hundred bucks. Only later did I discover the extent of the dodgy extensions and bad wiring situation.
it is with dismay that I admit we hold little power in the world. what happened to the foresight of our forefathers? why are we so content to amble along as we are? we need a population of 200 to 300 million to throw some weight around. irrigate the deserts and tame this country!
anyways my point in replying – I think it is important not to confuse the value of your currency with the size of the economy. It is GDP per capita that will (theoretically) determine this, not GDP in total. Take a look at the strenghth of the british pound as an example – not bad for a country of what, 55 or 60 million people?
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
There is much debate about the future of the US$, however many commentators see huge downward corrections for it. Since WWII the US has been able to fund its gigantic deficits by selling dollars to central banks around the world. The global stage is changing now and China looks as though it really is becoming a player. It all depends how long they will be willing to swap goods for US notes!
I am noticing a resurgence in property enquiries and its almost like people have forgotten about recent interest rate rises (which is a little disturbing really).
Never a bad time to buy quality property at the right price!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
yeh it seems a bit cheeky to pry around and ask loaded questions for your own benefit and then feel put out when the agent does her bit to look after the seller – full credit to her.
ps – as a buyer I would do the same. As someone else says, depends on which side of fence…..
offering vendor finance is a very innovative way to fulfill the finance condition! In WA would you need a credit providers licence for that though?
Don’t feel too bad Caitlyn – one of my first real estate sales went unconditional and the buyer – out of the blue and after fulfilling some pretty tricky conditions – just changed their mind. I couldn’t believe it. By the time the buyer mustered support from everyone including their local MP to get out of it and given that real estate contracts are heavily skewed in favour of buyers, there wan’t a lot that could be done. As one of my colleagues says “It aint unconditional until the property settles”.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
also if you manage yourself you don’t have that impartial wall between you and the tenant. With an agent you can play the whole good owner / mean agent routine. property management is a numbers game from what I can gather – you may have 100 properties on your rent roll and 4 or 5 may give you all the headaches. If you manage yourself, your rent roll consists of just your properties. chancs are they will be fine, but if 1 or 2 give you headaches you will need more than a disprin to solve it. any PM’s out there care to comment?
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
reminds me of a story from an old work mate. he had a commercial premise that they couldn’t lease. finally a dry cleaner or some sort of washing business offered him a fairly low rent with long lease so he took it out of desperation. as part of the deal he made significant modifications for this guys machines e.g. holes in walls etc. Anyway as you probably guessed the business went belly up after a few short months, leaving a badly damaged building, unpaid rent, and the kicker…. a gigantic water bill! His summary on commercial – never again. But I have heard of people making huge profits by finding tenants for their empty buildings and on selling. Gotta know what you are doing and have a bit of luck!
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
Hi Kay,
just wondering if this is something you would seriously consider or are you just bouncing ideas around? I could not envisage buying a church on the other side of the country (you are in the east right?) that needed a reno and was in a small country town. How I would manage the reno would be my biggest concern. I would like to buy somehting in another state so as to keep my land tax bill down, but came to the conclusion that the safest bet would be new stock.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
yeh basically what is cf+ today may not be tomorrow. the only way around it is to dump extra cash into the mortgage, which makes it like any other neg. geared property, just with a little less pain and arguably less capital growth as the trade off. There’s no way around it, if interest rates went crazy there are not many properties around that could leave you not having to top up a difference. The only consoling fact is that half of Australia would go broke so they couldn’t push rates that high in the first place. Plus rents may rise a little as investors flee the market and rental supply dries up. I say just do your analysis on todays numbers, protect yourself as much as you can and give yourself as much safety margin i.e. gearing ratio,as you feel comfortable with.
read somewhere (was it on here somewhere?) that the tax office has had a big crackdown on holiday homes. If its not available for the 12 peak weeks of summer you need to apportion your annual expenses back. so unless you want a holiday home purely for investment or off season holidays think twice. If anything makes the inhumane standards of the 11 second rule I would grab it… just confirm that it meets it 52 weeks of the year??
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
if this occurrs, there should be a reduced supply of rentals leading to rent increases. residential property will come to be valued in terms of yield just like a commercial property. interesting. probably how it should be anyway.
those doomsday prophets have been around for years. a bit like the theory a few years back that commodity based economies were finished and we were in the golden era of IT. China’s apetite for raw materials will knock that theory on the head.
good one bear… just make sure it aint the worst house in the worst street at the worst price!!
also make sure your strata body is not underinsured. often people don’t realise how much building costs have increased. also add $40-50k for a ite clean up in the event of a disaster.
Extensive list of new Perth property available for sale.Alternatively, become a joint venture partner in one of our property development partnerships – contact me to find out why our developments are unique. John – 0419 198 856
