Forum Replies Created
Hi Bruce,
I dont really have much of an opinion about better performing suburbs around Perth but perhaps something to consider is the new airport rail link the government are proposing to build from High Wycombe to Bayswater via the airport. Suburbs next to High Wycombe like Forrestfield, which already has large infastructure in place may see some good growth from this project.
I have also read in more than one "top 10 suburb" reports that "Rockingham" is seen as one of the top growth suburbs for Perth. Not that I really see this happening myself and I wouldnt even call Rockingham a suburb of Perth but the report is written by John Lindeman, head of Australian Property Partners and a regular colunmist in Australian Property Investment magazine so there may be some truth to this claim.
Send me your email address or PM me if you want me to send you a copy of that report
Corie
My wife and I have 5 IPs and we use a guy named Louis Aldum. He owns a company called TaxSense. He is an investor himself and very capable property accountant. He has recently helped us set up a company and family trust for asset protection. PM me for his details if your interested.
I think there is plenty of life left in Gladstone as there are 2 more gas plants to be built over the next three years so in terms of activity it is going to pick up again in the not too distant future. I am just worried there are going to be massive land releases so developers can flodd the market and keep rental prices where they are.
Terry rider did an interesting webinar last week about "how to pick the next Gladstone" and he made references to the potential Gladstone still holds based on the project still in the pipeline. Here are the slides from the webinar. Might have to copy and paste the link into your browser.
Hi Paul,
I had a look at your site and was reading about the Installment contract technique. Can you tell me how this differs from the rent to own and what are the pros and cons of this technique?
Hi Kazza,
The guys at Permacoat have a special sealer they use and can guarantee their work for 20 years. Dont know if they will still be around in 20 years thats the guarantee they offer. The house Im renovating is only small and they quoted $3200 for the lot.
I assume this is your PPR and if that is the case then it just depends on what you are comfortable with. If you like the look of colorbond more than tiles and can afford it then do it. Lets face it, for 5K you can get the roof repainted every 5 years for the next 20 years and still come out on top compared to colorbond. If its an IP I would just get it painted.
Corie
seqel wrote:Hi Corie,I did mine myself.
I got all the instructions from the paint company and one of them even offered free spray hire with the paint.
I also hired a decent Gerni. My domestic one simply took to long.
The two lessons I learnt quicky was : Water makes your tiles slippery, use caution/ fall arresting equipment.
Dont paint yourself into a corner with out a ladder.
Hi Seqel,
I have thought about doing it myself but was a bit worried about the over spray factor. I have a kick arse pressure washer already so all I need is the spray gun. Airless I assume?
What was the name of the paint company? Are you in WA??
Cheers for the lessons learnt tips! I have found myself stuck in a corner many times before but I can honestly say I have never painted myself into a corner. That would have been a first.
Corie
Hi there Renel,
Thought I would drop you a line as my wife and I live in Perth and we are keen renovators too.
Have you looked at any of the home study options? I know Dean and Elise parker have a product called "The complete renovating system" which you can buy online either on their site www.propertysystems.com.au. I think you can also get it through the Propertyinvesting.com site too. Might even be able to pick it up second hand through someone here on the forums. I have seen it before.
I have not seen the content but I know there are posts on here about it. Might be able to find some more about it that way.
Got to run. Speak again soon
Corie
I know its not an e book but Margaret Lomas has an excellent book called "20 must-ask questions" before you buy an investment property. Highly recommended!
Corie
I used to work for REI, hence the avatar, but dont anymore so my advise is not bias in any way.
The REI tools are a great suite of tools but like most others have said are overpriced. The search engine is second to none and can save heaps of time and help to find properties that you would never have found otherwise. Also they provide a lot of relevant data with each property so you can quickly decide if the property fits your critera. And if you have access to the valuation tool you can quickly decide if you are looking at a good deal. Basically it is a tool for people who are "time poor".
Personally I think you need to be a very active investor to really see the benifits of REI. More suited to the full time investor. But in saying that the reason I began working for REI was because I was a user of their software and liked it so much. I didnt mind paying for it because I used it all the time and actually bought some properties I found on there, all before I began working for them.
I have not kept up with their pricing options but from what I know you can now subscribe to REI on a month by month basis whereas previously you had to sign up for 12 months.
If you have any other questions dont hesitate to ask.
Corie
Does anybody know of any stagers in Perth?…..Not sure if "stagers" is actually a real word but Im sure you all know what I mean.
This might work
2 names that spring to mind are Steve MCKnight and Margaret Lomas. Both these people know what they are talking about. Steve Is doing his market updates in November, a seminar definitely worth going to. I think Margaret has just finished doing the rounds. Margaret Lomas has writtten quite a few book. One of her best ones is “20 must ask questions” before buying a property. I can highly recommend this book. Margaret founded Destiny Financial Solutions. They have a website which is worth checking out. She aslo produces her own show for investors. Episodes can be purchased from her website.
Click here to download “Property Success with Margaret Lomas S02 E23” Web quality in .wmv format.
Let me know if link doesnt work.
I really cant see any difference between the offset Jamie is talking about and my CBA redraw.
Jack
I will bet you what ever amount you want that within 5 years property will NOT loose half its value. The pilbara is a large area and cannot be defined by one city.
Your comment sounds like a prediction from an economist. I remember Western Sydney associate professor of economics and finance Steve Keen bet Margaret Lomas that house prices would fall by 40% after the global financial crisis. After he lost the bet he amended his comment to say that the predicted 40 per cent housing price drop would occur over 10 to 15 years.I have just come back from Karratha where they have begun civil works for the Karratha industrial area. Stage 2 has already sold out before contruction on stage one has even started. These blocks average for around $5m! This combined with the Baynton housing estate which has completely sold out through a ballot system tells me that places like Karratha have a long way to go before people starting leaving in droves. The Pluto project hasnt even finished yet. Gas Plants approved for Broome and Onslow. Gorgon project. The list goes on!
Hi Charlitayla,
I remember when I got into property and became a property seminar junkie. I would keep my eyes and ears peeled for all the free seminars and spend my weekends going to along and listening to all the different speakers telling their stories, and if I follow in their footsteps I can achieve financial freedom.
One thing that I quickly discovered was they all had different strategies and had their own formula for success. And they all had made millions from property! The point am trying to make is that there is no right or wrong strategy but there is one that suits you best. The best strategy for you may change over the years as your situation changes and some people even employ more than one strategy at a time. It all depends on your situation. So my advise to you is to first look at your situation and work out what it is you are looking for and then decide what your strategy will be. This decision will help you work out which seminars are best for you and help you reach your goals faster. And dont be afraid to spend money on good education. You would be surprised how much money a lot of successful full time investors have spent on their education. I know quite a few people who have completed the “RESULTS” program which is in excess of 6k and they are all very savvy and successful investors!
Lastly, this forum is a great resource one of the best places to learn everything about property. The people you find on here have a wealth of knowledge just waiting to share with you. All you have to do is ask.Good luck on your journey.
Not sure if its just the wording but the tax deductable interest repayments go back up in with a redraw too.
Do you mean that I can still claim the interest as a tax deduction if I take that 20k out and use it on a car. ie the interest on my car repayments are also tax deductable assuming I used the 20k from my offset account?What is the difference between an offset account and a redraw?
I know there are a lot of people out there who are not very fond of the commonwealth but we just finished negotiations with them today and have a rate of 7.0% with them. That is a 0.8% off their standard variable for the life of the loan with an offset account that has no fees/charges for making withdrawals plus a gold card and they have waived the annual fees on that too!
Not as good as 6.87% I admit but we seem to have a good thing going with the CBA and I think its important to establish that good professional relationship with your lender. What I am trying to say is the best rate doesnt always mean the best deal for you personally.
We had quite a lot of trouble with ANZ. We refinanced with ANZ and got a line of credit in the process and that was all fine. All in my wifes name. The two loans we refinanced were meant to be interest only but we noticed there was something wrong once we started making repayments.
My wife rand them and pointed out the error and they said she would have to go into a branch. No worries. What we didnt give much thought to was the fact that my wife was now 7 months pregnant and it was quite obvious. The branch manager took one look at her and knew that she was not in a capacity to earn much money, if any.
To cut a long story short they refused to put her onto interest only because she didnt have a job, or wouldnt for much longer in her case! So basically she didnt earn enough to pay less money in repayments!! So she had to stay on P&I untill she was back at work full time.
ABSOLUTELY RIDICULOUS!!!
And for that reason we dont want anything to do with the ANZ!
I totally agree with Pullright. There is nothing wrong with buying regional/rural towns if that is the only way you can afford to get into the market. Its is also unrealistic to say believe that you will not see any capital growth in regional areas. There is plenty of data to support the fact that, sometimes regional areas can out perform capital cities in terms of capital growth. You just have to do your research and choose wisely.
