Forum Replies Created
Was it ever?
Prices have doubled, still way over-priced, there is no room left for capital growth and everything is negatively geared.
Do yourself a favour, enjoy your money instead or invest it.
Great site TMA, what are you going to do now that you’ve hung up the broking boots?
When in doubt, google it! See at http://www.google.com
You mean the guys on the back cover of the API magazine that seem to deal with ‘off the shelf’ property investments?
Their figures just seem to deal with best case investing scenarios and are only positively geared after depreciation and tax advantages (assuming you’re in the top bracket).
If you want to buy something that is of poor construction quality that is already over-priced then go ahead, but if you’re into property for the long haul you’ll have to do better than paying guys like these $5000 to find you deals that are everywhere anyway.
Now you’re getting technical!
Best person to talk to would be Michael Yardney, amongst others, who is a capable and experienced developer on this forum.
Good Luck…G7
You must now realise that with all the different providers of finance turning mortgages into a commodity it is now a buyers market. Beside there are many capable brokers on this forum, some that could probably get finance for a dead body.
Besides I think that because you’re at the same place of work with the same pay, it’s not as dramatic a situation as you think. Post this question in the finance part and see what some of the guys there can come up with.
Hope this helps…G7
Normally you’d pay a 2%+ premium on the interest rate of the person vendor financing you. If they’re paying 7% you’d probably be paying at least 9%. The length of the contract is usually the standard 25-30 years.
The security of a deal from the wrappees perspective is normally only as strong as the wrapper. So if you sign up with someone dodgy expect problems.
If you can avoid buying on vendors terms do it, I firmly believe you are much better off being the provider instead of the recipient. Even though it is a great avenue to get started and there are many who have used this method and plenty of good people doing vendor finance, I’d use it as a last resort only.I’ve seen plenty of places that have been rendered/bagged over crappy bricks but the render is all wrong and sometimes it comes out looking worse!
If ou do decide to go ahead, choose your colour scheme wisely!
Will the oil price impact on the property market- Only if you have invested in motor homes! [biggrin]
With all the different economic indicators and what affect they have on each other and the universe I’m beginning to wonder that it’s not just all a huge conspiracy spun by evil economists worried about losing their jobs.
But who knows, everything seems to have a flow-on effect these days so you might be onto something EZ?
Try these guys for a basic overview of duplexes, costs, features etc; http://www.dixonhomes.com.au
In response to your questions,
1. $1200 sqm would be your final cost to build
2. See above
3. $10 000 sounds far too much for basic landscaping on a block this size with a great big duplex on it.
4. Dont know
5. Prepare for 20% just in caseFor your first post, welcome by the way!, it sounds like you’re the type of person who is born for this type of thing. I have given you a very basic overview of what you’re after, but I dont think you’ll have too much trouble finding out what you need to know. Good Luck…G7
Camder is absolutely correct, there is no “one best type of property”. It all comes down to personal preference and for many people, returns.
If you prefer houses, so be it, but at the end of the day it’s usually a case of what your investments can do for you and your financial future!I dont know of one, but if you’re thinking about a specific area you could always ring some agents in that area pretending to be a prospecive tenant and get a feel for the demand that way.
You could also probably try the respective Real Estate Institutes in different states. They might be able to help you with some stats.
According to the latest REIQ figures for the March quarter, the vacancy rate in Gladstone for houses is 22.2% and units/townhouses 24.7%.
Rocky and Bundy have both boomed and Gladstone is in the middle. If you do decide to go ahead with Gladstone and it’s surrounding areas keep your eyes open and know what you’re doing!1. 23
2. Latest- 30
3. See abovePrimarily want to do this via passive business income. I also want to throw in property and share investing to help the cause.
Try this website; http://www.dixonhomes.com.au
I use these guys to play around with different scenarios in new house construction, like costs, features etc. They have the most basic 3 bedroom houses in the $60k’s.
If you want a breakdown of each suburb in the Logan area you might want to pick up a copy of the REIQ Qld Property and Lifestyle magazine.
The Logan area seems to have done most of it’s growth for the next 10 years in the last five though.
Try the usual one’s if you haven’t already;
You could always pretend to be a prospective tenant and see what you can find out from that. Fall in love with the deal, not the property. All too often getting emotionally attached can lead to getting financially f&%$#@.
Good Luck…G7
I believe Point Cook is a lot better. Stay out of the western and north western suburbs if you can. Try the east and south east, your budget might be a little stretched though.
I dont think you’ll have too much trouble finding what you want, as Melbourne is really starting to ease from what I’ve seen and heard.Good Luck…G7
Thanks for that Surrey, my link has expired. I did test it when I posted the topic, but now it seems to be lost in cyberspace…
