Had similar problem with a (IMO) dodgy valuation not long ago. Valuer spent barely 2 minutes in the house, took measurements very quickly and was gone within 10 minutes of arriving without asking a single question. Having been through a few valuations I was a bit shocked how this one went and had a bad feeling. Sure enough valuation came in at…[Read more]

Within 3km’s of our PPOR in Mandurah. Looking further afield now but will probably still buy within WA.

We recently purchased an IP that was pretty sound but had been rather neglected. The biggest issue was that the vendor had left the place filthy with years of built up grime, garden neglected, junk piled up, fly screens torn etc. Nothing major – we spent about $200 and a lot of elbow grease to get the place up to scrath. And it really came up…[Read more]

Also check out the Real Estate Institutes in the relevant state. Eg. REIWA is WA. Just do a Google search.

Thanks everyone for your comments so far. The more I look at it, the more I like Geraldton. I’m sure we’ve missed the best of the growth there but I convinced that overall WA still has plenty of growth left in it and that Geraldton will continue to share in it. Time will tell…

Since our properties are in WA, not really nervous at all. Just cautious and keeping expectations for CG real. Currently looking for our 2nd IP with a higher rental yeild that the 1st. Also have recently gone with fixed interest rates on PPOR (50/50) and IP(100%). Will go 100% fixed if/when we find our next IP.

mitm, not use where you are but here in WA most tennants pay for their water usage. Some landlords will go 50/50 during summer months to encourage tennants to keep up the garden/lawns but that’s it. Where the property is equipped with a bore (such as our IP), tennant pays for all water. Pity we can’t pass on the water rates

Thanks kp for referring me to Karina’s post. Great story. I think Geraldton’s worthy of closer inspection. Partner and I are going o take a run up there this weekend.

I’m a project accountant/administrator working within the manufacturing sector. Prior to this I worked as a financial accountant but the long hours didn’t suit after I had my first child. Project Admin/Acct is a lot less stressful and I love it because with each new project comes a new set of challenges and I never get bogged down or bored doing…[Read more]

Originally posted by redwing:
Flatout-

If you buy up North and get good returns, you may be able to buy another IP in Perth as well depending upon the increased income wouldn’t you..kind of along SiS’s Offset Gearing.

Country WA property still looks interesting in many areas and possibly hit the peak in others, making the city still worth a look…[Read more]

There does seem to be a growing confidence in Port Hedland but unfortunately there is a stigma attached to South Hedland that will take some time to erase. A work colleague purchased a unit in SH about 6 years ago and unfortunately the rental yield has been very low. Trouble is they can’t offload it as they owe more on it than it is actually…[Read more]

Are they actually refinancing to access equity or simply selling up and pocketing their CG? Family freinds did this then rolled most of the profit into an annuity which subsidises their pension enough so that they are now enjoying a comfortable retirement.

An interesting topic. We’ve yet to reach the limit of our servicibility thanks to my partners recent pay rise. BUT, we’re planning our next move very carefully. For instance, if we buy our next IP around Perth or SW WA, the unfortunate truth is that it would be relatively low yielding in terms of rental returns which means we’d chew up a large…[Read more]

My advice is look for a more modest PPOR. There are plenty of nice homes around Perth for a lot less than $350K. You can then pay off this mortagage quicker to build up equity to finance your IP’s. Remember most IP’s are negatively geared which means you’ll have to pick up the shortfall in the mortgage. You’ll find it hard if you already have…[Read more]

asdf, Mandurah results really a matter of being right place right time but like many investors we’ve made a mistake or two. Sold a 3×1 in Mandurah at the beginning of the boom and patted ourselves on the back for making 55% CG in 2.5 years. Stopped smiling when the new owner sold a year later for another 80K. He’d made 50% CG in 12 months. You…[Read more]

What sort of train is it? If it is electric remember that thse are one of the quietest forms of transport around. In that case you might find that the main road is your biggest issue. Noise will always negatively effect property value but perhaps this is why this house is +geared1?

As an aside a new passenger rail line (electric) and terminus…[Read more]

Originally posted by asdf:
Anyone checked the websites recently for all Perth and WA suburbs thats been mentioned in this very informative post? I have never seen so many properties listed U/C! A bit of Deja Vu to when I was looking in Brissy and SE Qld a couple of years ago…. Surely investors can’t be purchasing these properties yielding around…[Read more]

So once you have the construction date, how do you determine the original value to depreciate?

Newbie here so go easy on me…

I believe Coogee is a suburb to keep an eye on now that the proposed marina development has received the go ahead. Any of the suburbs around Rockingham, Mandurah and beachside suburbs in-between are continuing to boom but rising property prices have forced many investors and 1st home buyers out of these suburbs.…[Read more]

First post here but I’m leaping in boots and all…A couple of lessons we’ve learned along the way:

Shop around for an selling agent you have confidence in. Ask freinds, colleagues etc to recommend someone, but be sure to interveiw them extensively before choosing one for the task. We found out the hard way that a bad agent can give bad advice,…[Read more]