Forum Replies Created
Hi Parrien,
Do a check of my swimming pool saga and tell me if that qualifies?
You will have to search for post by C2.
Twiggy,
You can post without naming names or places.
Hope all works out for you.
Do you have skype?
harb,
Excellent post!!! Well done!!!!!!
Scamp,
Very happy to provide some information for you.
I suggest you check out the following areas in the NT: Nightcliff, Coconut Grove, Wagaman and Driver just to give you an idea of where. I base my % on the increased amount of $ offered from one year to the next on various properties.
Ummester,
The properties are very much CF++. If values do drop I can be very patient and wait until the increases start again, although I have been tempted to sell the odd one or two. Something about knowing that most of the properties are giving me around 1K each per month in my pocket stops me from doing so. Also I still think Darwin has a good 12-18 months of growth at more than 5% and probably closer to 10% during this time, but I could be wrong and time will tell.
StG,
Is all about who you know and deal with. I had my first approval done over the phone and only had to fax a copy of work contract.
Ummester,
I wrote not advertised for sale but if they meet what the buyer is interested in then my properties are shown. Everything is for sale if the price is right, even if not advertised. Hope that clears it up for you.
Frosty,
If you do a search you will find a previous post that covers this topic.
I'm currently in Japan but have IP's in various parts of Oz.Frosty,
It depends on your investment plan. If looking at B&H for a number of years then make sure it is CF+ as prices in general appear to be flattening out except in the high end of the market that has seen some decent falls. You only loose money from prices falling if you sell. There are areas that are still experiencing good growth in prices and rents. It can be a good time to B&H long term if CF+ as some people will panic or be in a position to have to sell cheaply due to unexpected circumstances.
In my experience properties in the lower end of the market normally rent out a lot quicker and easier and are also the first ones to start the rise in rents as more renters look for cheaper accommodation and then this flows onwards. The current economic situation might see things change and I have no predictions on which way things will go.
walp,
You need to consider as mentioned by duckster your holding costs.
If it is CF+ and you don't plan on selling them why worry? If it is slightly CF- then depending by how much you may want to consider your options. If you sell you have lost at least 60K but if you don't sell how long will it take for you to lose 60K if CF-? Is the rent fair for the area? Have rents dropped, stayed the same or gone up in that particular area?
Don't know about you guys but my properties which are mainly middle of the market have not dropped 30-40% but gone up around 20-30%. This is based on the offers I get to buy my properties which aren't advertised but when people go into RE office looking to buy something they get shown my properties and asked to make an offer.
I'm still looking at getting more IP's in 09. Did I mentioned that rents have gone up nearly 30% across the board as well.
I will agree that some properties in the top price range of the market have dropped considerably.
Guess I have been just plain lucky.
Tony,
Rules are for everyone but the interpretation might be different.
Good to see some one from the old days still on the forum.
Was wondering how many long termers are still active?
Good news:
Long term tenant (4yrs) decided to move out and PM has increased rent from $200pw to 300pw. With a list of people wanting to rent.
tony,
I think the moderators are more heavy handed with those who join the forum and just start spruiking without giving anything back to the forum. There are long term members who advertise in their signatures but most of those have contributed in some form to the site and members over the years. When you get people joining and their first 6-10 posts are only about buying property in Asia or Romania then I for one are happy to see the mods deleting their posts.
Just got to love these people who seem to omit the fact they are getting something when they suggest this so and so is just so good have a look. Makes their credibility look very suss.
One would hope that those providing the course have the numbers on the board to support their views rather than just academics espousing other peoples theories.
Adrian,
Why the change in opinion? What market forces has made you change your opinion from a few months ago.
Adrian previously wrote:
I have invested in a few countries now but am avoiding the US market for a number of reasons. After the instability there, which still has a long way to play out and some prices have not seen their bottom, some commentators are saying that it will be many years before you start to see some real gains and confidence back in that market. If you are just chasing yields then its really about your rental returns and perhaps your growth is not so important to you.
Now more than ever would be a time to be extra careful in not being taken advantage of as an overseas buyer. You would really need to have confidence in what was happening with the area you are looking at and who are the reputable people there to deal with or you may become victim to some type of scam.
Unless you really have a burning reason to invest in the US I think there are plenty of other places to look where there is stability etc. As an example I just purchased a beach front apartment in Malaysia for about $300,000 AUD with a 70% lend at 4.75% interest with a guaranteed net rental return of 7.25% for the next 5 years with a further 5 year option after that. This makes the deal cash flow positive to the tune of almost $900 AUD a month guaranteed for 5 years without any hassles for me.
If anyone can find me a deal like that in the US or anywhere else I would love to know about it.
If you want to tap into a network of Australian professionals in the US who may be able to help you find some direction, try the Advance Global Australian Network who link up Aussie professionals around the world with an online networking service.
Cheers
Adrian
(Hong Kong)Reeco,
Well done on taking the leap of faith.
I've thought a few times about getting in on the program but feel that being OS most of the time would detract from me putting in 100%. Will follow your progress reports so keep them coming.
If only using it when vacant then you may be able to claim deductions for travel expenses as long as you justify a reason such as inspections or maintenance. I plan my trips back to oz normally around end of leases when tenants are thinking of moving out and ask the pm to let prospective tenants know the place is available after I've been. This also allows time to get a feel for the area and do any odd jobs that might help improve the place and increase rent further.
Another TL?sales pitch.
Probably in line with one of his new business ventures he has been involved in.
No mentioned of any returns or holding costs etc.Some of these prices look really good but people also need to remember that most of these rural properties don't have connected gas (only bottles), town water(probably bore), sewage (needs to be emptied every 2-3 months). If you want to get around you need a car as there is no transport services or buses that run once in the morning and again in the afternoon. If you buy a car you need to pay, car parking tax, city tax, apply for parking permits. Even if the car is not being used you are still required to pay a yearly tax until the vehicle is scrapped. With very little English spoken in these areas communication to get services connected etc can be very difficult.
Whittles,
I have crossed paths with them a few times over different issues. Most of the time they seem okay but every once in a while they do a major stuff up. When they change staff I always have to explain that I'm O/S and don't attend meetings. It is there responsibility to send any information to me by email and I will decide my vote. One smart one decided they would impose a penalty if I didn't attend meetings. After a quick chat he saw the errors of his ways and now leaves me alone.
