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  • Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    January 30, 2007 - 1:44 pm

    Hi Dom,

    Did you find an outright positive cashflow property, or was there something you had to do to that property?

    It would be great if you could share a bit of your experience in Frankston, as I recently went there to have a look myself.

    [exhappy]

    Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    October 30, 2006 - 12:32 pm

    Hi Michael,

    Thanks for the input. Is there any other way besides having to pay the REIA for it? eg extracting data from ABS or Department of Housing etc.

    I called around a couple real estate agents today to test out how much they knew about the vacancy rates and average rental yield of their areas – some were knowledgable, but there was one lady who was a bit frustrated when I started going into detail.

    ps I have read your book – great work!! Your insights regarding property cycles and understanding the demographic of an area was particularly useful [biggrin] I got a lot out of it!!

    Thanks again for your help! [biggrin]

    Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    September 10, 2006 - 12:00 pm

    Hi Simon,

    I have heard a few things about the Jenman system, both good and bad. I have read his book “Real Estate Mistakes”, and got a few tips out of it. I guess it really depends on the situation and where it is appropriate.

    The reason he is selling is so that he can free up cash to purchase an apartment overseas, where he lives.

    My concern is being charged too much for advertising costs, and not being able to sell the apartment. How much would you think is a good price to pay for advertising? Is it advisable to just advertise on the internet (realestate.com.au) to begin with, and be more aggressive with other forms (eg paper, magazine, flyers etc) later on?

    Any feedback would be greatly appreciated :)

    Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    July 23, 2006 - 12:27 pm

    Hi Jaffasot,

    Thanks for taking the time to show us how you went about putting the numbers together. Appreciate it :)

    Just a few questions thought.
    – Do you have to consider property management fees in the calculation? Do you just assume that since the property is already tenanted you will not require a property manager in this instance?

    – When considering property managers, do I have to take into account their letting and re-letting fees (if applicable), which are around 1 week’s rent, in the cash flow calculation.

    – I noticed that you asumed that no quantity surveyor looked at the property. I guess a property like this would be too old for any significant depreciation benefits huh.

    Thanks

    Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    July 22, 2006 - 6:58 am

    Hi Jaffasoft,

    Sounds good :)

    When you said 10% and 14% returns, do you consider the cash return only or do you also include the capital gains in that calculation.

    Thanks!

    Jeremy

    Profile photo of jeremyjyskjeremyjysk
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    @jeremyjysk
    Join Date: 2006
    Post Count: 15
    July 10, 2006 - 10:39 pm

    hi Simon,

    Tas is one of the places I am looking out for at the moment. NSW seems so overvalued and expensive. And as this will be my first IP, I want to get my foot in the door by investing small to begin with.

    Thanks Terry for the tip.

    You guys know any building inspectors there or Quantity Surveyors?

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