Afternoon.
Harcourts in Blacktown are good (02 9622 3299).
Is this near the property – always use a local agent.

Gidday.

I will:

complete 4 renovations/subdivisions
buy 4 more properties

By:

June 30, 2013

Gerry.

Hi Stephen.Singer is right – don't get emotional.  I hate to sound simplistic, however the key is to know what you want to pay after doing the numbers and before making an offer.  If you have done your homework regarding local community amenities, land size, rental opportunity, proximity to infrastructure, building type and rental capacity in th…[Read more]

Afternoon izzgizzSeems to me like this deal is worth persuing.  It seems like you have got a price lower than what you would expect, rental lower than what you would expect and the opportunity to develop the site.You have to aks yourself about the cahsflow and the ability to raise the funds you need to do all the extra work.  Work it out now coz t…[Read more]

Sensational idea – but not new I might add. Auctions are beautiful, becasue, as alotti syas, you stop when you want to. I’m sure you recall seeing HOT PROPERTY on TV when people say it’s not fair coz I paid $40k more than I wanted to. Why? That’s your decision. Why were you looking for a property at least $40k below what you were going to…[Read more]

Sensational idea – but not new I might add. Auctions are beautiful, becasue, as alotti syas, you stop when you want to. I’m sure you recall seeing HOT PROPERTY on TV when people say it’s not fair coz I paid $40k more than I wanted to. Why? That’s your decision. Why were you looking for a property at least $40k below what you were going to…[Read more]

Sensational idea – but not new I might add. Auctions are beautiful, becasue, as alotti syas, you stop when you want to. I’m sure you recall seeing HOT PROPERTY on TV when people say it’s not fair coz I paid $40k more than I wanted to. Why? That’s your decision. Why were you looking for a property at least $40k below what you were going to…[Read more]

Arrowsmith, you will note that DLPP said that the Vic Govt won’t let the SD go in a hurry . . . it is going to reduce from 6% to 5% for certain price points in the very near future (I smell an election), however don’t get hung up on SD – the price of houses will rise by EXACTLY the value of the SD if the SD is removed. Think about it . . . a…[Read more]

Hi Snowflake.

I Agree with alotti 100% in what she says.

The CF +ve aspect should be worked on based on a 10% and if it looks good try to reduce the cash down to only 5% coz you have a good deal. Never any less – even if you borrow 100%, make sure you have the 5% cash equivilant in reserve to allow for any downturns.

Gerry G.

Gerry G

Hi Islandgirl.

I too give a gift (via the agent) – it may sound terrible, but it is a hamper full of cleaning products – althuoght I do like the Bunnings Vouchers suggested by others. The reason for this is:

sublte – keep the place clean
helpful – let’s them clean up without thinking about it
reminder – the place is new (or newly painted/fresh)…[Read more]

Morning Mark.
I find it interesting that you types ‘gaol’ instead of ‘goal’! Hmmm.
Anyway, the best start is for you to discuss your CRAA file and to start I would suggest you contact Baycorp Advantage in North Sydney – either direct or via their website.
They will help.
Gerry.

Gerry G

No, the students brought their own furniture.
It was on Dandenong Road near CIT.

Gerry G

Morning.
I purchased a house near a uni and then set about splitting it up into as many bedrooms as possible. Each bedroom had an indivudual key lock, and I put a bar fridge in each room and finally created a central ‘lounge’ for all to use. The rental proved to be nearly 100% more than the repayments. This attracted international students by…[Read more]

Morning.
I purchased a house near a uni and then set about splitting it up into as many bedrooms as possible. Each bedroom had an indivudual key lock, and I put a bar fridge in each room and finally created a central ‘lounge’ for all to use. The rental proved to be nearly 100% more than the repayments. This attracted international students by…[Read more]

Morning.
I purchased a house near a uni and then set about splitting it up into as many bedrooms as possible. Each bedroom had an indivudual key lock, and I put a bar fridge in each room and finally created a central ‘lounge’ for all to use. The rental proved to be nearly 100% more than the repayments. This attracted international students by…[Read more]

Hi I-Girl.
I have 3 cashflow +ve properties. The downside to +ve CFP’s in my experience is that they have a very low capital gain – meaning it can be hard to borrow against the increased equity.
I would suggest you start by trying to find a neutral or slightly -ve property and then do the reno to make it posative. That’s what I have done, but…[Read more]

It depends on the age of the property and the condition. If you think of a Queenslander or you think of a 1940’s ‘suburban’ 2 bedder. One is (usually) ornate and detailed, the other is boring – even if neat.

If you want to buy and reno, the timber is excellent. If you only want to renovate internally brick is superb.

Bricks you can render to…[Read more]

Hi Jules.
Also, keep in mind in Victoria if you do not have individual metering (ie one meter per premise) then you will pay all the water bill.
Not having individual water meters is usually the domain of older properties; but doesn’t have to be.
I have one block of flats where there is only 1 meter for all the tenencies – and I pay all the water…[Read more]

Good Afternoon.
I note that some members are thinking of switching their loans to fixed rates. I have been buying properties since 1984 and have never switched to a fixed rate; and in the times when rates were rising (mine peaked at 17.6%) and in the times when that same loan plumeted to only 5.5% I have always been ahead. Always. If you are…[Read more]

Dom,

Gotta agree with GoldCoastGirl – Vanessa hits the nail on the head. The gold in them there hills is being drawn, sure, but the properties on offer on the whole are housing for employees. The tirany of distance will always be a negative and you MUST understand the market you are trying to attract – or indeed the market that will force…[Read more]