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  • Profile photo of Frankston FellaFrankston Fella
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    @frankston-fella
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    December 16, 2010 - 2:02 am

    Thank you for that insight, I thought RE.com might be the best place to advertise, sounds pretty reasonable! I have had a look and there doesn't seem to be a lot of share accommodation available at any one time.
    Thanks for the tip about insurance I will make sure my broker checks GIO, many thanks again FF

    Profile photo of Frankston FellaFrankston Fella
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    December 9, 2010 - 8:24 pm

    thanks to Jac and Sue for their replies!!
    well Sue I reakon you have got some great tips for everyone there, sounds like your share house would be a great place to live! Well done and thank you so much for your contribution! cheers FF

    Profile photo of Frankston FellaFrankston Fella
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    December 7, 2010 - 9:13 pm

    seems two of the properties have gone under contract….so I'll just have to look at the last one on Netherplace Drive, looks OK all female share house very settled, house dog named Poh…maybe it's an omen…I love Poh's Kitchen

    Profile photo of Frankston FellaFrankston Fella
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    December 7, 2010 - 9:10 pm

    thanks Blair….good to get your input..they certainly don't make things easy do they?
    well it seems the 2 properties have gone under contract anyway…so maybe a little more homework before the next opportunity comes along……maybe I'll just look at the last rooming house on Netherplace drive for a bit of income for now…..thanks to everyone for their contributions…much appreciated

    Profile photo of Frankston FellaFrankston Fella
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    December 6, 2010 - 8:45 pm

    I think you might be on the money there Andrew!
    Thanks that sounds much more resonable! Better than living in a shoe box…cheers FF

    Profile photo of Frankston FellaFrankston Fella
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    December 5, 2010 - 8:21 pm

    Thanks Jac, so are you thinking like a yearly rate perhaps averaged over their stay…that could work, I have heard some students will pay almost their entire stay in advance…worth considering…cheers FF

    Profile photo of Frankston FellaFrankston Fella
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    December 5, 2010 - 8:18 pm

    thanks very much Christian!
    quite a bit to take in. Once I digest all that I might have some questions for you cheers FF

    Profile photo of Frankston FellaFrankston Fella
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    December 2, 2010 - 9:13 pm

    Thanks Jac! I'm sure there are a quite a few agencies around, we have a couple of good ones in Frankston who have expressed interest so I'm sure that'll be fine. Not sure about students tho, what do you think? Quite often not around for a full year….thought I might be better to target regular local people, cheers for the post

    Profile photo of Frankston FellaFrankston Fella
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    December 1, 2010 - 8:02 pm

    I guess the other consideration is finding tenants!
    The vendor says he will assist for 6 months in finding new tenants until the new buyer is "plugged" in to the system. I imagine that with such a rental crisis that finding tenants isn't too much of an issue. Anyone have any thoughts?
    All 3 houses have at least one person in them that has been there since they opened, I guess that is a good sign…..
    cheers FF

    Profile photo of Frankston FellaFrankston Fella
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    December 1, 2010 - 7:57 pm

    thanks for your reply guys……no real rush as I am only considering buying the properties still at this stage, I really just wanted to speak to someone before I buy about the suitability of the blocks for development, make sure there are no issues. But like you say everyone is just SO busy….having said that thanks for the posts cheers guys FF

    Profile photo of Frankston FellaFrankston Fella
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    November 30, 2010 - 9:56 pm

    Can anyone recommend a good archetect? One that is not too busy to talk to you…….!!

    Profile photo of Frankston FellaFrankston Fella
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    November 30, 2010 - 12:51 am

    Thanks Barry that's very positive…and much apreciated advice! The houses are approved 1B and council registered, have hard-wired smokies and emaergency lighting they have occupancy permits so I can only assume all safety work has been done.
    Did speak to my insurance broker doesn't seem to be any probs there…Calliden I think she said will insure.
    The vendors have provided all costs associated with running the houses, they don't seem too bad, gas helps!
    and yes the return is great at just under 10%….I'll keep you posted as to how I go cheers mate FF

    Profile photo of Frankston FellaFrankston Fella
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    November 28, 2010 - 10:35 pm

    This week is crunch time….so any thoughts greatly appreciated! cheers

    Profile photo of Frankston FellaFrankston Fella
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    November 28, 2010 - 10:34 pm

    This week is crunch time….so any thoughts greatly appreciated! cheers

    Profile photo of Frankston FellaFrankston Fella
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    November 26, 2010 - 5:33 am

    Thanks Alistair, I definately need to find a good local archetect (one who is not TOO busy)…any ideas? anyone?

    Profile photo of Frankston FellaFrankston Fella
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    November 26, 2010 - 5:30 am

    you're a good man Andrew! Many thanks I will be sure to check out the links…cheers!

    Profile photo of Frankston FellaFrankston Fella
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    November 26, 2010 - 2:50 am

    Thanks very much Sapphire
    that's good advice! I wasn't sure who I should speak to first…council, archetect or surveyors.
    Fortunately these properties have good rental returns so holding wouldn't be too painfull
    Again thanks for the tip…… least that is a start…many thanks FF

    Profile photo of Frankston FellaFrankston Fella
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    November 25, 2010 - 2:48 am

    Thanks Andrew, have already spoken with my Insurance Broker, she has told me that as far as insurance goes it is the same policy as any investment property…..as long as your registration and Essential Safety Measures are all up to date. Appreciate the reply and the welcome…cheers mate FF

    Profile photo of Frankston FellaFrankston Fella
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    November 25, 2010 - 1:27 am

    Is it just me or do most (yes I'm sure not all) people think that CF+ properties just happen with no work involved. I have been doing my research into Share houses and Rooming houses, yes I know they have a bit of a bad name but I reakon if they are well managed…like hands on….they could be good money and very rewarding at the same time. I have been looking at 3 that are for sale in Frankston VIC, they appear to be very well managed, one is all female with average age of tenants in their 50's. These properties are bringing in $40K+/year. But yes they need to be hands on managed I think. My thoughts are that this is a very socially acceptable way of making money thru real estate as well as helping the community….I think I might be talking my self into making an offer

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