Forum Replies Created
We have the mighty 1980 Valiant wagon on LPG.
$1500 buy a couple of years ago and an appreciating asset.
Bloss
Maybe not as big an assumption as suggesting we’ll do our ass, but hey at least we’re having a go.
“The men who try to do something and fail are infinetely better than those who try to do nothing and succeed”
Lloyd Jones[biggrin]I predict your ‘portfolio’ will be unsellable for $900,000 by late 2008 if you still hold all the properties. It will be interesting to see whether you’re still so ‘hard’ yourself then, or whether you’re screaming for charity handouts and government intervention.
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Don’t know how you can predict this Foundation ,as you don’t even know where these regionals are.
They happen to be regionals with 60,000 plus populations that have ran out of housing and have mining contracts in place in the area for up to the next 10 years in some instances.
But even if they do devalue, we won’t lose money unless we sell, and with those sort of population bases and rents increasing, they’ll still be in demand as rentals IMHO.
I won’t appoligize for what I said. This country seems to have brought up a new population of sooks and “Girlie Men”
Harden up
Bloss [evo]
Bloody hell mate, i’m 40 years old and havent worked a paying job in 10 years., but am lucky enough to have a lovely partner who looks after me who is on 60k/year.
We feel like tightarses for not buying xmas or birthday presents, even for us.
We drive a 1980 Valiant that cost $1500, but is on LPG , all our furniture and kitchenware was castoffs from our parents and our clothes are falling apart. My good clobber is the same stuff I wore to my old mans wedding 10 years ago. I have a pair of 6 year old deck shoes and I just broke my 3 year old pair of thongs. These are my only shoes. Even this ‘puter is a rehash of 2 throwaways and $200 in bits.Saying that , we have 6 IP’s val’ed at 1.6 mill, bringing in more than enough $$$ to pay for themselves and a bit. We only started doing this 2 years ago and all of the houses are regional and cost well under 200k each
All of our tenants have A/C, 3 have dishwashers all have nice kitchens,bathrooms etc. All seem to have flash cars , plasma screens, go on holidays and have nice furniture.
Our ppor is a peice of $hit thats falling down around our ears.
Our holidays are spent doing maintenance on our IP’s and sometimes a tenant vacates and we live there for a few days and pretend we’re somwhere nice.These are the sacrifices some of us have to make to get ahead. It’s called delayed Gratification.
AS Chopper Reid says, ” Peter, you need a big mugachino of harden the f#ck up”
Mate thats a bit out of our league,only done removals,subbies and spekys to date although we wish we ‘d grabbed some 4 packs a while back while still cheap.
FYI the road up to MM is a bit steep and winedy, would be fun towing a van and don’t know how many visitors and through traffic you’d get.
Be carefull and do your research, theres been blood in the water for a while and the sharks are circleing……..there have been victimsBloss’es buddy
They’re the agents I use to manage my IPs and I keep a very close eye on the rental market in the area.
mmmmmmmaybe…..
The same RE Agent has had those two MM rentals on their books for months…..Richard,
I must congratulate you on your success. I totally agree with you – I wish I had have been smart enough to buy up property when it was $30,000!!
You are a braver person than me. The Rocky market seemed like the safe option a few years ago, though not as easy these days.
Keep up the good work.
Bloss
Have bought several IPs over the last few years just up the road in Rockvegas, which seem to be doing well, thanks to the coal mining boom. We fell for the same “bargain” prices in Mouth Organ, went for a drive to check it out, and quickly turned around and couldn’t get out of there fast enough. It was a real eye opener – not quite the “Golden Mount” as described in the glossy brochures! Perfect if you’re looking for a bit of quiet – not so sure about making lots of money however! Have heard talk of new coal mines opening up nearby, but it’s just talk and seems a while off. I think it’s a case of it won’t happen overnight, but it (might) happen…
Finding tenants is already a problem from what I’ve seen, and may get worse. No real jobs in town either.
My advice would be to have a look at other more lucrative areas in Central Queensland and take advantage of the current boom (if it’s not already too late)…
Bloss
There was a story on page 30 of today’s “Australian” about a new landlord’s insurance with ACE Insurance, part of the ACE Group of Companies. They reckon they’re very competitive.
I’ve never heard of them, and of course they make it sound wonderful – worth a phone call maybe??
Bloss
I don’t know anything about the WA market (other than what people keep telling me) but those prices seem out of this world!! We’re not paying anything like that over here in Qld. I’m sure with a bit of ringing around, you should be able to do better than that, especially since agents are scratching for rental properties over there, aren’t they??
I would suggest having a look on the internet at the rental properties in the area. You should be able to get a feel for the different RE agents, what they have on their books, what they’re charging in rents, and which one you like the look of. You can start your phone enquiries from there. You never know, you may be pleasantly surprised at the response!
Good luck!
BlossDi,
I have dealt with NRMA, who I found to be among the cheapest I could find (not necessarily the best product however). I also found the people I spoke to on the phone a bit dippy (you have to get them to explain everything very clearly).
I have recently changed over to Westpac (as part of a refinance deal) who seem really professional and easy to deal with (but by no means the cheapest)!! Just a word of warning – I had to take out two separate policies – one for Landlord’s cover and another separate policy for the house cover. Not sure if this was the best advice, but it seems to work for me!
Hope this helps.
BlossPS don’t forget it’s all claimable!
Bloss
Yep, that’s exactly how they do it (plus all their little extras).
Bloss
Dee,
I negotiated a much lower rate with my manager, but that was because I have multiple properties, all in the same town 700km away from home! In which case they are a necessary evil. I must say my manager does a great job, especially finding and interviewing prospective tenants – I would never have time for all that! Just be aware – when they advertise 7% or 8% it doesn’t usually include GST, advertising and letting fees, or incidentals, like postage and banking fees. They can even charge you for a mid-month report. So it can quickly add up – if you can do it yourself, go for it!
Good luck!
Blosscjay11
It’s a shame no one has answered your call. We’re in the same boat – desperately chasing switched on tax accountant in Bris area. So where are they??
Bloss
