Forums

January 4, 2004 - 8:20 am

Hello Kenzhang How ah ya gonin?[

Good luck to you!

January 4, 2004 - 6:49 am

I wonder if any of you has done a TAFE real estate course? How did you find it, are they useful knowledge to property investors?[?]
If they are, I believe that there are a lot of TAFE courses you can do as distance courses, I think they call them OTEN courses.

January 4, 2004 - 6:44 am

I have no advice to offer (sorry) but I’d love to have a look at the website once it’s set up. I think it’s a wonderful idea.
This could be a very much needed service especially if honesty and fairness are qualities you’re planning to offer.
It’s getting harder and harder to find CF+ properties, especially for people with children at home who live in areas far from those where you can find CF+ IPs and who don’t have much time to travel- so I would certainly be interested.
Good luck!

December 31, 2003 - 8:57 am

I am certainly no expert (as everybody knows by now[

December 28, 2003 - 1:38 pm

Even if installing an airconditioner doesn’t add that much value, and only increases your rental income by less than you expect, it will certainly lower your vacancies.
Anyone in their right mind will prefer a nice airconditioned place rather than living in a stinking hot place.[^]

December 16, 2003 - 12:31 pm

I have just 1 Matt, buy and hold.

December 16, 2003 - 11:53 am

Thanks people, I know now for next time![

December 16, 2003 - 3:41 am

Thanks, I’d also be interested in seeing it.
My email is cvanzal@bigpond(dot)com(dot)au

December 16, 2003 - 1:42 am

YES Rachel I’m interested in more info, too. I sent you an email, so would love to hear from you.
[

December 13, 2003 - 12:22 pm

I’m not sure if the ING interest rate will increase exactly in line with the reserve bank increases. But the ING interest rate has been 4.75% for a long time until last week when it was increased to 5%. Personally I would have thought they would have increased it a bit more, say to 5.25% like Citibank.[]

December 13, 2003 - 6:28 am

I don’t have, don’t want, and never had a credit card in my life.[

I have the St George’s multi-access card, so I can still use the credit facility when taking money out or buying something (through VISA), and I can only spend what I have available in my bankaccount.[

It works very well for me, because I don’t like spending money if I don’t have it. (Apart for loans for investments I wouldn’t want debt).[xx(]

December 12, 2003 - 12:44 pm

The very best wishes and congratulations on the birth of your baby!
How many more babies are you planning in the next 3.5 years? [:0)]

December 11, 2003 - 1:03 pm

Interesting, Joff!
About the body corp fees, is that $210 per quarter?

Does it still work out to be cf+, I suppose that must be only because of the depreciation.
Because if the buying price is $132 and rent is $160 pw it sounds like it is still -geared, or am I wrong?

If it works out to be cf+ I’d be certainly interested to find a unit like this.
Regards Cecilia

December 9, 2003 - 1:11 pm

When you rent your name is on the lease, and if you then sub-lease and the tenants are wrecking the place you will still be responsible for any damages ’cause you’re the one who signed the lease. This can turn really messy as I see it.

I agree with kkowalsk about the tenant screening process, I would never accept my tenant sub-leasing the property.
Landlords IMHO would be much better off leasing the place to several students themselves, so they’d still have some control over who moves in, while reaping all the fruits.

Celivia

December 9, 2003 - 12:35 pm

I agree Mortman, I don’t think you can get rich on the CG from these units!
Income growth is the only thing that they promise you can expect.

I wonder if in the near future with all the baby boomers growing older, it would be easier to borrow for these units as there would be much more demand.

On the other hand, there only may be demand if the govt keeps paying the rent, but I’m not really sure if I would trust the govt to keep handing out these pensions and subsidy for another 20+ years to more and more pensioners. One day (soon?) the pension might disappear and rental payments will have to be made out of people’s superannuation, I suppose.

It’s a very high rent they’d have to pay for such a small unit (they’re under 35 m2 as far as I know), incl all the fees such as management fees, not sure if this will work for people who have an low or even average superannuation income.
Gee I’m not sure about a lot of things, aren’t I. Anyway, the future will tell!

I never thought I’d say this, but may be it’s a blessing the lenders didn’t want to lend me for those units! If they all find them too risky, may be they are.[xx(]

Anyway I have since found out that people on this forum are getting a much better returns on their IPs than you could possibly get from these units.
[

December 9, 2003 - 12:07 pm

Thanks SIS I’ll look into this.[

Great links, Peter, thanks. [

December 9, 2003 - 5:55 am

Quote from SIS: A good course i suggest you learn is “Risk Management”.

Hi SIS
From what you and Peter P say about this course, I’d be interested in doing it, but there’s nothing about a Risk Management course in the NSW TAFE handbook (2004).[?]
May be I just can’t find it, or they’re not including this course anymore. Shame![

THanks SIS[

December 9, 2003 - 5:42 am

Hi Lawry, do you mean the units you see advertised as Two for One? They usually sell for under $200K per 2 under one title? Which ones are you after? I looked into buying units from SunnyCove, also looked at the ELders ones.

I’d recommend to have an independent valuation done, because the valuation they provided was quite a bit higher than the valuation I had done.

I have been trying to get a loan for these, but lenders are very cautious to lend against them.
I couldn’t get a loan I was satisfied with, so I let it go. Most lenders refuse to lend for these units, unless you want to offer another security like your PPOR

The returns were not bad, but the success of the investment relies a lot on the expertise of the management.
Yes depreciation is very good something like $8K or 9K the first year.

The thing that I didn’t like was that somewhere in the contract it said that you can expect growth in your annual income as the CPI increases. But it also stated that the management fees increase by 3% every year, or in line with the CPI, which ever is the highest. Not sure if I like this fact.

If you want more details about the SunnyCOve ones, I still kept the info so feel free to email me and I can look things up for you.
cvanzal@bigponddotcomdotau
Regards Celivia

December 7, 2003 - 10:29 am

Prop, was sonst Sie auf Holländer ausgenommen Potverdomme sagen kann?

Thanks Mini this babelfish site is lots of fun!!! I added it to my favourites under Education[

Potverdomme Prop is saying this allowed on the forum? Otherwise we’re in trouble.

December 7, 2003 - 12:04 am

nderstandu nda peak es nlyo utch dee nda nglish ee ut bee a iny tee it bee o ef rench ef nda erman gee.
[:0)]