Forum Replies Created
August 2002 I got a 4 bedder house in Perth for $91k and a 3 bedder unit for $70 k. Now worth $135k and $110k on bank vals, which means add $10k + per property. Its a slow state but a steady one.
Infrastructure no matter where it is, is what sustains the growth when whims and gossip wont.
Dont rely on media, rely on real research, your own.
DD
domain.com.au, property.com.au, hit all the real estate pages like harcourts.com.au or raywhite.com.au then go to google and type in realestate.
quartile.com.au is great for info on the market and some investing too.
Go go get em.
DD
wow looking in Vic for positive cash flow is not what I call a good start. Same as Sydney unless you have a massive deposit for the main centres you are looking for the imaginary needle in a haystack.
Look north south west and across the sea.
Qld, Tassie, WA and NZ
Dont be scared, its out there.
DD
Yukko, i hate vendors like that. If he has an exclusive contract with an agent to sell his place now he has to pay them a commission even if he sells it himself during the usual 2 months of his contract with them. If it is an open listing, only if he sells it through that agent does he pay them. So go get that house before the agent stuffs the deal.
DD
hearing about that child abusing bastard in woolongong getting only 7 years is such a joke too. Anyone hurts my kids, out comes my ruger. No questions asked no excuses given.
Happy investing!
DD
Baa humbug and poppycock. If you run out of PGeared property coma and see me. Ill find you something.
If all of those stats are right, arent we all the clever ones not stopping at one each. I like candy..da de da de da I like candy!!!
23 in 3 years, Hmmm im happy![biggrin]
Dont sweat the small stuff and its all small stuff!!
Pay for something you get what you pay for, get something for nothing and what do you value it as…..nothing.Life is to short and with all these posts who has missed a good oportunity.
DD
Kay I like you already and its my first night. Minimogul kept bugging me to join so here I am.
Hope a 42yo man with a great wife, 2 kids and a heap of property experience isnt too much to cope with.
DD – ask mini about the handle.
fear is an amazing tool of government. Now with people up until 2 years ago able to buy the average house in suburbia in SEQueensland for $80k and that has been truly blown out of the water. All the renters can do is grin and bear the rental rises that accompany this growth. One of my tenants was loooking to buy the house he is STILL renting when I bought it in August 2002 for $73k. He couldnt come up with the deposit then. He sure as hell cant find the deposit now as the house has just been revaled at $170k.
What you will find though is that the stamp duty exemption will have a small effect on pricing due to the fact that only 5% of house sales are from first home owners anyway. What it will affect and is affecting now are the entry level units and townhouses which are moving quite nicely along again after the slowdown caused by 2 interest rate rises. Houses on average went from %80k to $180k on average and are having a small holiday, townhouses in Jan 2002, I bought for $34k and $40k are now worth $115k and slowly rising.
Hope this helps.
DD[buz2]
I have 17 in qld and all in booming areas. Look to where the infrastructure is. I do help people find those elusive deals but not without some serious discussions first to see what you really want to do. I know of one place that will get you 15% for the next three years. South East Queensland! Fine tune your search from there.
DD[buz2]
To get the best price, never go cash as you might miss 20K worth of repairs you then get stuck with. Arrange a fast building/pest inspect on all and if someone is keen to sell, go for other clauses like access to property for repairs once contract is unconditional, prior to settlement.
We had a LOC initially and did what you want to do. Bought 3 properties outright but once we had the titles we used them all within 6 months to fund 8 other properties at 80% 20% ratio or 80%LVR.
Main thing is, do it your way so you are happy and keep on buying.
DD[buz2]
HI, I agree with minimogul as to this one. My thoughts are if its near any new growth, planned upgrades of roads etc, new schools, new businesses etc its worth a shot. Returns are good based on the figures so confirm with at least 2 other real estates that the local market needs rental places.
DD[buz2]
Oh my God! Great position and you still question your own judgement?
The best thing to do is something. Sitting or cashing up for the dream house will not get you too much more in diversified capital gains(diff locations of property) and put all your eggs in a big basket.
If it were me, sell land with DA approved to the first developer who wants it.Please dont do the work yourself on the land. With that cash go again and again and again until your money, as deposits only, is depleted to about $50k. Then lets see what you have to make choices on in 6
months or a year.My wife and I have acquired 23 investment props in Qld Tassie and WA in 3 years.
Just go for it.
DD[buz2]Good to see im not the only one with the weed as a tenant.
Went to Brizzy to do a reno on one of the two townhouses I had just bought in the same block I already had 2 and what do I find? Happy people all around that I had kicked out the local druggies causing their lives to be hell. I found a bong and some bong cleaning fluid in the kitchen and patchig the walls before painting was NOT fun. 57 small holes in one wall. Stones people should not try to hang stuff on walls.
Another doozie was the head hole at the bottom of the stairs..OOPS!!!Built ins had doors kicked in from the inside??? and a brand new shower screen was cracked by someone passing out in the shower(heard from next door). Well thats what they said anyway.
Don’t worry, old tenant was paying $95.00/wk and now I get $145.00/wk and have great tenants. place cost me $95k. Trust your instincts and usually you get through it all.
DD[buz2][jerry]
