Originally posted by everdine:

we were only intending on buying +ve cashflow props, but have come across a unit in an area where there is huge rental demand and excellent employment and tourism related industry. Expected to sell for $160 & that’s also what the rent will be approx/week.
Any wisdom in buying it – condn is great – and selling it…[Read more]

Originally posted by melbear:
Sorry James, I’m not interested in justifying myself to you, or explaining what I do or don’t do.

You have your opinion, and you’re welcome to do it. Having never ‘been there, done that’ I refuse to accept your opinion, but I am not going to try to convince you otherwise.

Cheers
Mel
I wonder if you’re doing your…[Read more]

Originally posted by MiniMogul:
James, explain what you mean by rah-rah merchant.
Then maybe I can get my head around what you are against exactly. I went to Steve’s seminar (twice – like I said, I wanted to take my Dad-) and I wouldn’t call him a rah-rah merchant. But I want to see what your definition is.
I’m not calling Steve a rah-rah merchant…[Read more]

Originally posted by melbear:

So, yeah, of course it’s inside my head, and that’s been my greatest breakthrough from attending Tony’s events. WHAT I think.[/b]I haven’t said there’s anything wrong with getting you head to think correctly, I’m just saying that spending thousands of dollars flying around to his seminars isn’t cost effective. After…[Read more]

Originally posted by KewlDude:
it makes claiming depreciation easier.
I’ve been led to believe that ATO requires you to have a report from a proper QS if you are to claim depreciation on anything other than the building (ie fixtures and fittings). You should check this out.

btw I also use Deppro (about $440) and have been happy with them.

Originally posted by melbear:

Some people are not good at reading books. Some people need to learn by listening, and talking. It took me 8 years part time to do my Uni degree. Give me 5 18 hour days to learn the same stuff anytime!!
What degree did you do? I don’t even think you can do an arts degree in 90 hours.

How do you know these people…[Read more]

If Steve charges $1200 and people are willing to pay, then I have no problem with him doing it.

In saying that, I must say I think people have rocks in the head if they think this is a good investment no matter how limited their experience. Money is better spent on real estate investment books, including many products on this site (of which I am…[Read more]

Originally posted by Pisces:
>>Surrounded by docks and heavy industry. Not known for terraced housing. Close to crap suburbs like matraville, Chifley, and HMP Long Bay. No cafe strips close buy. Airport noise. Working class.<<

James,you would have said similar things about Paddington and Balmain not so many years ago.

>>you do need to know there…[Read more]

Originally posted by daaj10242:
Yack,
Purchase price $130,000, residential,large town 30,000 i think,rent $310 per week ,or $155 each side (Duplex).I believe i have worked out rental yield by previous posts on the Topic (deposit and costs paid by me)
Dom []

Was that in Geraldton?

Originally posted by Pisces:
There is a suburb called Bank’s Meadow which is also very close to Sydney which I wouldn’t be surprised about if that is going to be the next Paddington.

In a word – NO!

Paddington – 2 mins from CBD. Terraced housing. Trendy cafe strips. Leafy. Surrounded by expensive desirable suburbs. Blue chip.

Banksmeadow – d)…[Read more]

just lost everything I wrote because I forgot to enter my user details.

To summarise: markpatrick, you have no idea

Originally posted by markpatric:
I think this would be the case quite often.
This is a worry for everyone rich and poor.
I think society will pay if the gap gets too wide between the rich and poor.
Charging too much or ripping off tenants only makes matters worse .

All you can do is be fairminded with tenants which means not buying so many houses…[Read more]

Note:

Residex reports don’t take into account improvements or renovations.

Originally posted by Shushar:
I think you’ve given us some good advice and food for thought, however I don’t agree with your “don’t auction” statement.
Why you shouldn’t auction:

1. Agents often over quote the vendor and under quote the buyers. What often happens is a heap of people come to the auction who can’t afford it.

2. If this happens and…[Read more]

Cool, that’s the one I was looking for. Will have to wait until it’s available.

Tip 1:

Don’t pay for marketing. They are not marketing your property, but marketing themselves. This is a running joke between a lot of real estate agencies – how much of other people’s money they can use to market themselves.

The fact is that if someone wants to buy a townhouse in Surry Hills, they will a) Go to every real estate agent in the…[Read more]

Originally posted by MiniMogul:

When I asked if there was anything else I should know I was referring to if there was anything that about buying in NZ that is a stand-out difference to Australia and is there anything that may catch me by surprise. For what it’s worth I could have worded it better, but is there anything that springs to anyone’s mind?

Originally posted by MiniMogul:

Yes. A lot.You might want to keep your ego in check. I’m a reasonably experienced property investor and have over $1m in equity. I do though understand the importance of learning from others’ experiences rather than reinventing the wheel. I’m picking up a patronising vibe from you and I’d prefer if you lost it.

I…[Read more]