Forum Replies Created
Ksana,
I wouldnt like to put a figure on it but I know it would be minimal growth if any. If it is worth 150k today, it may be similar or a little bit more in 5 years or so. There are plenty of student accoms in Carlton.
Kind Regards
DannyKsana,
Though this may be in a high growth area, you certainly wont get high growth from a student accom. Though th returns may be ok, if you are looking for growth, steer clear of this one..
Cheers
Danny
Apart from what SNM mentioned, I would definitely be checking out past sales within that block and for units nearby. For the case of a few dollars, you can find out exactly what sort of levels you should be paying. Paying too much could be far worse than any other hiccup..
Cheers
DannySounds like the vendor wants the buyer to waive the 3 day colling off period (which is standard in Vic for all Private Sales). If you do like the property and want to buy it, have a solicitor/conveyancer read the Section 32 and contract first to check things out for you before you sign.
Good luck
DannyHi Richard,
Thanks for the heads up – I have a couple of loans with St George who have similar fixed loans to the above with Westpac. My PPOR loan is fixed at the moment until Sept 2010 at 7.15. My question is at what point can you lock in a fixed loan to start again from Sept 2010, i.e is it 3 months before, 6 months before, etc and is there a rate lock fee?
Cheers
DannyHello,
As I live in the East, I would be personally very comfortable to invest in Nunawading. Nearby suburbs like Blackburn, Burwood and Burwood East have done extremely well in the last year or two. It seems that suburbs like Mont Albert, Surrey Hills have become out of reach so people look at Box Hill, Blackburn etc. Nunawading is then the next suburb along..
Cant comment too much on Braybrook and Sunshine.
Do your research and all the best.
Cheers
Danny
Dubb,
Ditto on Simon's comments – no growth to be made on student accom. Not even in the current bouyant market do they carry much re-sale value.
You are better off to do a bit of leg work yourself, research and look at residential stuff in decent areas.
Cheers
Danny
Guys,
Can u please elaborate more on the “putting nil in the contract” bit? Where in the contract do u put it and does it waive penalty?
Cheers
DannyHello,
I too subscribe to the rent theory and buy property for investment. It is definitely cheaper although the main thing is to be disciplined. The amount you save by renting as opposed to paying off a mortgage needs to be put aside for investing. After all, this is exactly why you would rent in the first place so make sure you save and invest the difference.
Cheers
DannyThanks for all the posts guys. Very helpful indeed.
I particularly like callendars post as it laid it out step by step. My tenant just paid at the 23 day mark but I feel this may happen again as rent is due again next week and I am bracing myself!
Regards to Nick’s post, does anyone know if you manage a prop yourself, does that mean you cannot claim landlord insurance for rent owing?
Also, did not quite undertsand Dazzling’s post. Went over my head Dazzling. Can you kindly elaborate on what linking wealth to personal lives means and also what is the RTA (pardon my ignorance).
Cheers
DannyCheers Simon,
I have spoken to my agent about it and hopefully it all gets resolved. My question is have you or anyone else out there had any experience going through VCAT to get a tenant out and was it fairly stragightforward?
Regards
DannyHi Guys,
With quite a few of our regulars away the moment, we are going to hold off on the Nov meeting.
Please stay in touch those who are keen to continue and we shall re-schedule.
Cheers
DannyHi Guys,
Apologies for the late reply. (Have been overseas with work and am in the middle of a move at work). Looks like we may have to miss a month with Vic pic but we are keen to hold one on Wed Nov 23rd. Our new premises are in 401 Canterbury Rd, Surrey Hills (Tony has bought a commercial building to move the business into)where the next meeting will be held.
Please let me know how that date suits everybody and what possible items of discussion you would like.
Talk soon
DannyThanks to all our regulars who attended last night. Stay tune for details of next meeting.
Cheers
DannyGuys,
Thanks to all have replied on either this link, under Heads Up or pm to me. Please note the earlier starting time on Thursday of 6.30pm. See you then
Cheers
DannyGuys,
Thanks to all have replied on either this link, under Heads Up or pm to me. Please note the earlier starting time on Thursday of 6.30pm. See you then
Cheers
DannyGuys,
Thanks to all have replied on this link or pm to me. Please note the earlier starting time on Thursday of 6.30pm. See you then
Cheers
DannyIn response to your question Wylie – How do Landlords dress. Well the wealthiest one I know usually gets around in old grey tracky dacks with holes in the you-know-where-part, a dirty white T-shirt with grubbys stains and a pair of brown slippers.
The guys usually shows his properties / developments in the above clobber and doesn’t care if he is talking to a prospective tenant or a flashy RE Agent. He shaves probably once a week, is sadly out of shape and has only recently upgraded from a mid 80’s Toyota Corolla to a Mitsibishi Pajero to accommodate a hip replacement. All in all, he wouldn’t look out of place on the back streets of st kilda.
And his total net worth is well over $100 million…..
Howdy all,
We have confirmed our next meet for next Thursday 22nd Sept at 270 Auburn Rd, Hawthorn. Please note earlier starting time of 6.30pm NOT 7.00pm.
Topic of discussion is negotiation and increasing incomes to fund frther investments.
Newcomers welcomers, please rsvp by Tues 2oth for those attending.
Cheers
DannyShade,
Further to the ink below posted by Dr X, consider this:
Agents get paid a commission on the rent so it makes little difference to them if the prop gets $220 per week or $260 per week (approx $3 week difference for the agent on a 7% mgt fee).No, what they want do do is get a tenant in as quickly and easily as possible. Most don’t really care what rent you get, they are more interested in what commission they get. Do some extensive research on similar properties in the area so you determine the rent – not the lazy prop mgr who wants an easy leasing.
A good prop mgr is worth their weght in gold.
Cheers
Danny
