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Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 23, 2004 - 4:07 am
Cant complain about that! So close to the city, long term very good spot and good capital growth. [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 23, 2004 - 2:49 am
Queens Park is a good spot to buy… what did you get? March settlement thats a while away might value higher than 40k more!
Couple of years ago you could get a house in queens park for 120k… ahh i remember theose days hehe Far from it now!
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 23, 2004 - 1:52 am
I’m actually not sure I even believe in Generation Y… The generation after me (My brothers age group, 18) should be called the Mcdonalds Generation coz they are all fat, greedy and have no idea about how to look after themselves.
-I am not fat and greedy!!! (and I know how to look after myself thankyou very much!) hehe [biggrin]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 23, 2004 - 1:39 am
Hi myoung
(yeah Monaro owner & love it!)
I have just purchased a 3 bedroom house in Queenstown (for 79k) with a tenant paying $120 per week on a 12 month lease. The place was built in 1996 so can also claim depreciation.
I went down there for the weekend a few weeks back and there is some good opportunities down there.
People are happy to talk doom and gloom about places like this but not many have been there and spoken to the locals. Look at the prices now, if you take a risk you might do well down there. Be careful with anything under 50k though they usually need a lot of work. Spending 60k – 80k should see you with a good solid home that will attract decent tenants.
[cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 23, 2004 - 1:24 am
IMHO Perth is still growing well, not as strong as it has in the past 3 years but if you look at the past 20 years it has continued to go upwards. I have 2 propertiesin WA, in Duncraig and Wembley and are going well. I feel Perth is a well kept secret – both to live and invest.
You will have to look carefully to make sure you get the right deal for what youre looking for but my pick at the moment would be the older areas between Perth and Rockingham. These suburbs will perform well when the train line is completed and they will be surrounded by new suburbs. Look for something cheap to demolish and develop on a large block or renovate!
Perth is still a cheap place to invest, just do your research as you would with any area!
I am living in Melbourne now, but I miss Perth! [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
December 21, 2004 - 4:23 am
IMHO Tassie is a great place to buy.
Just bought my 3rd IP down there last month for 79k renting for $120 a week. Have look at realestate.com
I went to Queenstown, Zeehan, Devonport, Launceston… Tassie is a beautiful place. Personally wouldnt buy in Zeehan but Queenstown is a nice little place. The town has been there for over 100 years its not going anywhere…
At the end of the day, as many property gurus seem to say -there is good tenants everywhere. I am comfortable that this is a good investment after doing my research! It all depends what your plan is and what you after +ve Cashflow or Capital Growth…
Elle- how did the trip go?
[cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
November 20, 2004 - 4:24 am
Interesting points… would be good to hear from anyone who has property there…
??? anyone ???
[cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
November 19, 2004 - 7:09 am
hrmm
well thanks for your reply anyway haha
-but where else can you buy +ve CF properties in Australia for 50-60k???
[cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
July 1, 2004 - 7:56 am
Steve
How many tickets were sold? I.e how many people will be going to this event?
Thanks in advance
Luke
Bonbeach
Participant
@bonbeach
Join Date: 2004
Post Count: 214
June 29, 2004 - 12:03 pm
[cap]
Tip: Make sure your ‘team’ -ie your mortgage broker, accountant, solicitor, real estate agents etc KNOW what your plan is and that if they want your business they need to work together with you towards a commom goal. My ‘people'[biggrin] know that I have huge goals and are willing to help me get there.
[cap]
Tip: Buy thousands and thousands of properties so you can become extremely wealthy and never have to work again.
[cap]
Tip: Dont write anything too embarrassing on the website in case you end up writing a book one day and become famous.
[cap]
Tip: Feel the fear and do it anyway.
[cap]
Tip: NEVER accidentally lock your cat and dog in the same room for 3 hours while you go shopping just in case they trash the joint and look at you as if nothing happened when you get back. Just because they are asleep when you go out, doesnt mean they will stay that way. [thumbsupanim]
Luke*
[upsidedown]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 23, 2004 - 5:19 am
21 degrees… *freezing*
hahaha
-funny-
[biggrin]
L.
[cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 5:46 am
Keep saving lil dude
once you prove to yourself that you can save you will be ready to go when you turn 18, the bigger deposit you have saved the more property you can buy!
You will need a job too to service the loan
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 5:08 am
hehe im 23 and im over my job and career!
I just want the CHOICE as to weather I get up and go to work every day. Theres nothing to say you cant have a job because you WANT one, but wouldnt it be nice to go to a job because you are financially secure not because you NEED your job to pay the bills…
Im out at 30, thats my plan. [biggrin][biggrin][biggrin]
No more work for me! That gives me 6 years and 11 days to reach my goal [suave3]
hehe – id prefer to be travelling the world and exploring, going 4wding around OZ for 12 months, travel around Europe for a couple of years, spend time and money renovating properties (because I enjoy it), driving the car I want and not worrying about what it costs to buy, run or insure it, being able to take my friends and family on holidays and out to nice restaurants….
geez… now that I think about it… -how do I find TIME for my Job????
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 4:28 am
True, would be nice blocks im sure, but definitly a LOT more you could do with that much dosh
10 properties for 50k maybe? [biggrin]
Or if I had that much Id grab a 4×2 in Quinns for 250k and a couple of units -one in Wembley, and one in say Maylands or even Bayswater…
Just a thought…
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 4:17 am
OK a bit slow to respond here, but I rent in Sydney and have purchased in my home town of Perth. I share a house with 3 other people and pay only $70 a week! -Who said it was more expensive to live in Sydney! HA![king]
Same with me, if I had to buy in the suburb I live in id be living in a drain too! And my big screen tv wouldnt fit there! Besides, I work in the Security Industry and from my experience- drains arent very secure…[biggrin]
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 4:04 am
Terry
Are you going to this?
Is anyone else going?
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 3:57 am
Cant really comment on that, it all depends on what your long term strategy is…
Mindarie will always be unique in its location and its layout. Most of the newer blocks (last 5 years) have covenants on the land as to what you can build so the quality of the area is of a higher standard in general.
What size are those blocks for 500k?
When I was in perth for Easter I saw the Harbour Rise blocks in Hillarys for 400k, and they were around 300m2!
If you can afford to pick up a block here and keep it without affecting your other financial goals Id say go for it. -Mindarie is a great spot! If holding a piece of land is going to set you back dont do it. [biggrin]
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 3:01 am
I agree sizzling_duck
Saving 10% is a minimum. I am now saving 15% of my gross income into an account paying 5.25%pa…
As for the credit cards, I have one with a $1000 limit on it with ANZ. I agree with using them for reward programs etc, as my $1k balance is easy to control, and have put around 200k through this card in the past 5 years which has earnt me many frequent flyer trips!!
BUT, in lil_mans case, the reason I say not to -is that when you turn 18 you seem to think that cause im old enough i might just go get a credit card… all my mates do so why not. I did this when I moved out of home at 18, and very quickly racked up $5000 debt. I also had a car loan and most of my income went into these two things.
It is EASY to get suckered in to these things and as a young guy wanting to go out, spend money on the car or what ever Id still say to avoid them!
Wait till youre old and grey like me (23yo) and you KNOW that youre sensible enough to deal with one of these things. [aacool]
Financial intelligence usually comes from making your own mistakes. My dad told me not to get a loan for a car- I did. He said not to get a credit card – I did.
I wish I had listened to him but dont regret doing it, cause I learnt from my mistakes very quickly instead of getting further into bad debt. Some of my friends are in their mid 20s and havent even thought about a deposit for a house yet!
I want to help anyone that can avoid doing what I did! [biggrin]
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 2:08 am
Screamin
What are your thoughts on the cheaper houses, say 60 – 80k and the suburbs they are in?
Luke [cap]
Bonbeach
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@bonbeach
Join Date: 2004
Post Count: 214
June 4, 2004 - 2:01 am
I presume he is a good tenant. I bought him with the property [biggrin]
Hes an old guy, and has been there for a few years. Im sure he would be happy to move if I helped find somewhere (ie in the same complex) and helped him move out. Hes defintely made it his home. (I couldnt live there) Not a great deal of work I could do there with him living there cause theres crap everywhere! haha
Because i live in stinky Sydney now, I dont have all the time in the world to do these things.
I believe there is good growth expected in the next few months considering this lower end price range is a perfect target for the new first home owners which will be out shopping in July -this is sure to push up prices as stocks in this price range start drying up…
*just my opinion*
Luke [cap]