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Hey sunshine,
Sorry I can’t help but I know who can, go to the Bunnings or Mitre 10 website, Dulux or Taubmans sites, they have people who can help you get over that small hurdle, its great to hear your giving it a shot.
Good luck!
BHey Oneill,
Yep were renovating, relocating the works in the rural area of Bendigo, we purchased 37 acres just land for a bargain at $32,000 morgagee in possession. We’ve just put a secondhand relocated home on there, picked up from a property in hawthorn Vic. total cost for them to remove, restump, place on your property with a new colourbond roof, your choice of colour for $ 50,000, renovations and connections cost us another $35,000, we have just completed landscaping the garden and puting an outdoor entertainment area in. The paddocks are now segregated into 5 sections with horse shelters in each, cost $ 3,800 (those secondhand yards and clearance sales are your best bet, bargains heaps of bargains). We now have spent approx $121,000. the property has just been valuated between 290-320,000 nice profit, plus we really enjoyed designing and making a comfortable home out of a blank canvas, if you like a challenge you’ll love this. Were looking at the moment for the next bit of blank canvas to attack, and the bonus is we don’t have to borrow now. We’ve actually decided to stay away from inner/outer city suburbs, I don’t think the monies there at the moment, too much uncertainty which way the property markets going to fall.
I know Bendigo is now being called the sister to Melbourne’s cosmopolitan strip, Population has grown faster that Melbourne, 2 years ago Pop. was around 70,000 people its now up to 92,000. Plus they’ve opened up another gold mine which has been closed for years, this is bring work into the town and rental demand is on the rise. Even if you don’t buy in the town there are some lovely acre properties just waiting to be developed.
BThanks all for the advise. I’ve taken it on board.
Thanks Comdom & Australia
I had this gut feeling that he was being bias. Your right australia with him going to the lenders who he has more of a friendship with. He kept on about two major banks, but stating that one of them loses application and takes over two weeks, but his wife works for that one so she can follow the progress, the other lender is much quicker with processing the application. It just concerned me how he seemed more interested in receiving his commission quickly then helping us find the right lender and not sure if the wife gets a cut too.
I’m just about to organise another broker to see me and see what they can do! Hopefully I don’t get another bias broker!!!!Hey beesting, I’m in Adelaide too, not many bargains around the city or outer suburbs. Were actually looking regional now. Do your homework though, you can pick up some good properties well under $100,000.
I have a girlfriend who is actually renting an apartment at the docklands, she stated that there are so many vacant units approx 1/2 of the building, that the owners are reducing the rental price to get tenants in. She absolutely loves where she’s living, don’t get me wrong but, if you thought about investing you may have to reduce you rental amount to get a tenant in.
I don’t care how much this bloke knows, 10k is ridiculous. My husband and I thought about this last night. People who hold these seminars did they make it big when the boom started, if yes, how does the boom three years ago, relate to situations now and tomorrow. We just wonder how people can spend so much money and listen to people talk about there luck. Basically they were there or started at the rightplace at the right time.
Does anyone else think this or am I just too suspicious!!!
Hi all,
Picks for Melbourne around that price range and a good area, I’d be looking at Doncaster, Donvale Camberwell & surrounding suburbs, Eltham, Carlton, Fitzroy, Albert Park. A majority of this houses start from about 400+ but keep a look out theres always that bargain that pops up, for under 400- may need a little renovations, but in the end you’ll reap the reward, you just can’t lose. So if your a bit of a handyperson then I say go for it!!
Good luckHi all,
I’m just in shock how many people buy properties without looking at them.
ACTandy, get in the car or fly, I don’t know anyone who spends that amount of money without actually looking at the property you know the old touch & feel. No difference to buying a car, boat, caravan and house, you need to check and double check, that’s what doing the homework is all about.
Good luck!Hi all
I’m 37 but look 28, & better looking that Westan(joke).
Have only one IP but going forward to purchase many many more. “I’m excited”
Vilka
If I was in that situation, I’d definitely hop on a plane and go and have alook at the property & neighbours myself. It not that I don’t trust the Agent, it just you need to think about the downside, if your neighbours are going to give you trouble you might find it hard to get a tenant for a long period, also the $ 6,000 worth of renovations may cost you alot more have you had an individual inspection done or are you taking the word of the Agent.(carefull)
If you don’t take added precautions you could end up with a nightmare,so get on that plane and see the agent & house ask question, even visit the so called horrible neighbours, also ask the agent why did the last people sell up??etc.
Good luckHi all,
Well I work for a Holden Dealership as a Aftermarket/Customer Service Manager. I’ve dabbled in Selling cars but its just not me. I’m not bored with my job because everyday is something different especially dealing with the public. I do have lots of spare time because as you’d realise my jobs a waiting game. I love this forum, its given me so many ideas which I’m grateful for.Hi 224013,
I’m the same as arty2003 we purchased 37.5 acres of residential property in Knowsley (can’t be subdivided), 25 min from Bendigo Population 70,000, 10 mins to Heathcote (vic) for $31,500 about 4 years ago, we have just sold the property for $95,000 we were rapt, to give you an idea of how we located this property, we saw in the Weekly Times and Trading Post an advertisement for reposessed properties, I rang the number he sent me a coloured booklet of all the properties which have been reposessed by the banks, it was fantastic. We marked which properties we were interested in, rang him and he gave us the address to go and have a look. I think he’s still advertises in the paper, in the real estate section(sorry can’t remember his name) have a look and go for it, we had fun getting away from Melbourne on the weekend go up there, and relax, we also had Lake Eppalock 5 mins from us, to swim and do a bit of boating, it was great. Plus when we were finished with the property we made a great profit.
I should also tell you, if you do find a property don’t tell you future neighbours how much you’ve paid, that was our mistake, but they asked! all the other properties which were the same size 37.5 acres they paid $60,000 and people get a bit disgruntle when they find out how much you paid. But if you do your homework properly you just can’t lose.
Good luck!Thanks to you both for your input, I’m just unsure about Elizabeth due to the high crime in the area, I could be wrong, but people have just told me that don’t bother with that area and smithfield plains. I know being an ex Victorian that Bendigo was a brilliant place to invest especially in the lower rental market, which was in high demand about a year ago, I not sure of Bendigo’s situation now. Why I’m interested in Whyalla and places like that is you can buy a masionette x 2 for total $75,000, but I just don’t have any idea what’s the demand like!
PS: Harold I know what you mean the housing prices feels like its christmas!
Just an idea, a friend of mine went through exactly the same as what your going through now. The previous tenants left the vehicle in the driveway, the car (a bomb)interior was full of grass clippings, I mean full, what she did was she got the vehicle towed out of the driveway and put it down the road in a public parking area (a park) and forgot about it, the car was sitting at the park for a month before people complain and Yep the car was towed away. Easy fixed don’t stress, ring up a Towing Company or do it yourself but I don’t know how your going to go with no back tyre, Towing company might be a better idea! Problem solved!!
Richard,
The property in Vic is valued at $ 95,000, postcode 3523, In Adelaide we haven’t found a specific property as yet but looking to pay about $130 to 140,000 most likely be a unit as houses are a bit over our budget at this stage. We do have a car loan also at the moment $ 22,000 that’s why we would like to borrow at least $160,000 car & home as one. I also, should tell you we don’t have spare cash for a deposit. what can we do Ahhhhh!
None, but hopefully we should have a couple in about a year.
Crash I couldn’t of put it better myself totally agree
I cracked up when I saw your apartment, at least you would have no problems with flooding.
Is it for real, does somebody actually live in it.
All I can say is they definitely got a room with a view
By the way long walk or climb to the toiletNo, why go out and buy it the song follows me everywhere, from the car, to shops even pulling up at the lights the car beside me had it blarring
Sorry, but the song really annoys me, anyway I’m really happy Fiona & Adam won, the rest got a little bitchy for my liking
