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even with my rental insurance and strata fees, yes it is still positive cashflow.
It is in a historical village , I havent even spoke to the council yet I will be once I get some idea's. Boat shed might be a good idea if the council allows it
Why are you only looking at hamilton hill and hilton ( both very dodgy areas)
Have you looked at spearwood. Some of spearwood (behind pheonix shops) is R60. Also in less than 2 years alot of the blocks in spearwood will be zoned R30. There are quite a few old houses on 900sq+ blocks there.
Just my 2 cents.Thanks for the excellent advice I will keep you informed
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is there a standard lease aggreement I can get for a commercial property, or do I have to pay to get one done up. I was hoping that maybe someone here could send me a copy of one of their own commerical leasing agreements (minus personal details).Steve are you ever browsing these forums or are u spending more time trying to sell tickets to other peoples seminars?
OK I have now found a tenent ( a patio company) who are going to lease the store for $750 per month plus outgoings. I still have 6-7 weeks before settlement!!!!!!!!!!.
Is there a standard lease aggreement I can get for a commercial property, or do I have to pay to get one done up. I was hoping that maybe someone here could send me a copy of one of their own commerical leasing agreements (minus personal details)
WHERE IS STEVE ??? Steve what do you think of this?
Any advice or comments from any1 at all is greatly appreciated.
ThanksHave you thought of pre selling the townhouses at todays prices, throwing in a white goods package for people who pay a depoisit now and the rest on completion. If you pre sell enough town houses then getting a loan shouldnt be a problem
Getting finace should be the least of your troubles. If you were serious about property you would have the finance. Speak to several brokers, banks and smaller lenders. Preferrably a broker. How much is the deal worth? Is a bribe or something like that in order to sweaten the deal for he broker?
The best advice you can ever get is to wait till the end of the year or even longer if you want (middle of next year) there is already another interest rate rise coming and things in perth are getting very bad ( Properties advertised at $100k less than what they were valued and then not getting any offers at all) I saw one in Coogee that was advertised for 1.2m (3 story with views) and now its 870k all offers considered. If you get pre approval from your bank so you can arrange a quick settlement. You should be looking at properties around the $380,000+ range and offering the agent $300,000 and saying thats all I have I simply have no more. Your offer is more than likely going to be the only offer that the agent has received or ever will receive…….DO not listen to anything the agent says…..just say your offering $300,000 and not a cent more with a quick settlement and trust me you will pick up a property advertised around the 400k mark.
The best advice you can ever get is to wait till the end of the year or even longer if you want (middle of next year) there is already another interest rate rise coming and things in perth are getting very bad ( Properties advertised at $100k less than what they were valued and then not getting any offers at all) I saw one in Coogee that was advertised for 1.2m (3 story with views) and now its 870k all offers considered. If you get pre approval from your bank so you can arrange a quick settlement. You should be looking at properties around the $380,000+ range and offering the agent $300,000 and saying thats all I have I simply have no more. Your offer is more than likely going to be the only offer that the agent has received or ever will receive…….DO not listen to anything the agent says…..just say your offering $300,000 and not a cent more with a quick settlement and trust me you will pick up a property advertised around the 400k mark.
Great Idea. Yes I now most commerical properties have there rent raised annually at cpi+2 ( I own a boost juice store in shopping center). Thanks for the great idea of offering a rent free period instead of dropping rent AS i would love to get some one to sign a 3 -5 year lease. And you suggest that I take a deposit , the first months rent and then offer a 1 or 2 month free rent period (if they were negotiating)
I will tell you where is it is a month or so as there is a second shop in the complex that is for sale (it is the reason we originally went there) If there is a high demand for tenents for my 1st of I may buy the second one too…. The second one is made of wood and has some rotting wood at back and broken gutters.
Thanks for the great advice… I take it all in
Im not sure I didn't find out how long it had been vacant for, but I spoke to the store owner across from the one being leased and she told me that they could of leased it 8 times by now but apparantly the real estate never awnsers phones or returns calls.
ANYWAY!!! I went out there this morning (friday) and offered $70,000 with a 3 month settlement and we negotiated to $75,000 with a 10 week settlement. I also added a clause stating prospective tenants could view the property in the settlement period.
I have put an advert in the sunday paper offering it for lease at $750 per month.
I will also put an advert in the Saturday paper next week and perhaps REIWA aswell.
Any advice or comments received would be great !.
Thanks GuysSorry I should of added the shop is about 40 years old and the stata fees are $106 per month
also if you are interested in investing in new zealand I may be interested in travelling there with a fellow investor for the sole purpose of looking at / purchasing properties.
just let me know.
Ive never been to organized property meeting before..should be interesting.this is my plan
i have about 450k after i sell my house. I have a bussiness loan for $240k which is seperate………….
I want to invest my 450k into property returning 7.5% thus i can make the property cashflow positive by putting down a 25% deposit for each one. So i should be able to purchase 1.8 million of property without having to make a payment.
How does this sound? I am the only one of me and my friends/ family who agrees/understands this plan
I currently own and live in a nice house in atwell waters but i want to sell to to finance the above plan.
From my research i think the best places to purchase quality property returning 7.5% plus would be in new zealand. Although i am not sure where, i defiently will travel there late this year/ early next year to see suburbs for my self. Any information or advice anyone could offer would be greatly appreciatedwe live in Atwell. I would also be interested in meeting up to discuss property investing although i am 100% against investing in perth at the moment.
simple: thanks for your inout but your plan does not enable you to buy all the properties at one time. Why wouldnt i purchase all properties at one time when it is costing me nothing?… If i am wrong please let me know
simple: thanks for your inout but your plan does not enable you to buy all the properties at one time. Why wouldnt i purchase all properties at one time when it is costing me nothing?… If i am wrong please let me know
ive thought of commerical aswel. But the problem is if you have only one tennent.. eg a hardware store and the tenant leaves.
Would you recommend several small offices? or a large store like big w or somethingwhy keep the place i have it is a discusting investment that if rented would return about 2%.
If i kept my place then i would have to make extra payments, the way my plan works i shouldnt have to make any payments at all ( although i will have to rent a house here in perth ~$300 p/week).
Thank you very much for your advice but i beleive selling my house and using the money to make 25% deposits on property to make them return 10%. If i used the equity in my house to borrow then i could not buy as many investments and i would get a negative return. Please feel free to inform me if you think i am wrong as I am the only one who has confidence in myself
