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I agree with Terry on this one. I went ot Uni straight of school and wasted 3 years. I am now "more mature" and studyng through distance education (I'm in 3rd year). It has been the best thing. This gives me so much flexibility. It really can be done quiet easily if you want too. Imagine where you could be in 6 years from now if work that whole time.
Most Uni's will tell you, you can only do 2 subjects a semester – so become an associate student at another Uni and get credits (this has been done by someone I know). This is how you can do the full load and not take 10 years to get your degree.
Well done, and good luck with your decisions.
JLBeenseeker,
I would stay away if I was you. I bought a place that needed carpet, curtains, A/C and other cosmetics from interstate and it took me more time on the phone than it would have had, had I gone to the location and orgainised it. It also cost a lot more.
Have you looked at some places close to Capital cities. Werribee in Melbourne has numerous 3 bedroom brick homes for under 200k (That rent for 220p/w) or if you travel up the Hume for less than 1 hour you can get a basic 3 bedroom fibro in broadford, seymour, nagambie for 110-150k. These are obviously close to transport, with a train line through all these towns too the city. These are renting for around 170p/w+. Not bad value for a long term investment. If you pick the right property it may even be +cash flow.
Good luck and keep us posted as too what you do?
JLA property researcher I came across was spruiking Beaudesert as the next boom area. I haven't looked into it myself, but might be worth researching yourself. I do not know the person who told me, so I do not know what criteria they have used to come to this conclusion. Just thought I'd pass it on too someone who could find it useful.
JLFor info,
Yesterdays headlines in Townsville – Uranium dig – Mining giant takes new look at yellow cake deposit. Essentially a Canadian company are exploring the possibility of a new mine just 50k from the centre of Townsville. The paper indicates it is a done deal at some stage, but the mining company are exploring it's possibilities, upgrading access etc over the remainder of the year. It will be interesting to see what happens.
JLElka,
The article was quoting Margret Lomas stating that Mildura was dependable. A warm spot not a hot spot. Reliable with returns and growth. "It has a strong diverse economy with affordable real estate, a busy council and business community – and is the proposed site of the world's biggest solar power station". It goes through the usual stats – Uni, Dried fruit, melons, etc.
I spoke to an agent I know in the area and he said after the article – March edition, that interest was good but has now slowed down. He said vacancies are low – but please do your research. I know that there is a lot development occurring and the population is getting bigger.
Good luck with your research. I personnally have Mildura on my shortlist for my next few purchases.
Remember that Mildura was one of 15 hot spots mentioned, so it was quite brief on all.
I hope this helps
Kind Regards,
JLThanks Mick,
JLWJ Hooker,
Remember Townsville is in a Tsunami warning area too. Some parts of Kirwan are included in the evacuation area, mostly the old parts, so maybe your place. When you go there again, make sure you go have a look at the development opposite the Willow's. They have put in lagoons, in all over 3 olympic pools worth, and it is free to go take a dip. I know if i want to take the family for a swim in Sydney or Melbourne it can cost $20, so this is definately a draw card for those that are on the outskirts of town. This was Les Tyrells answer to the Strand, so it is pretty good.
JLWJ Hooker,
A lot will have changed since you last lived in Townsville. A lot of new development in Kirwan (on the flood plains) and outer suburbs, including Kelso. All the new homes have great airconditioning, that are relatively cheap to run during the wet. The whole of the hospital is now airconditioned. For those that aren't aware, the old hospital only had A/c in the heart ward and emergency until the late 90's. The hospital has now got a heart specialist again, so there is no need to travel to Brisbane for that anymore. The bridge that connects Douglas to Condon opened up last year and now allows great access through all of town. There is a 20 million + revamp and extension going on in the next few years for Stockland – and Myer is coming. the Willows is also expanding. The only thing the town will then be missing is more specialist shops, medical care and surf. The lifestyle is great, still with a country town focus. James Cook University seems to be expanding, and there has been a shortage of affordable rental accomodation for students at the start of the year.I spoke with a builder from Townsville last week and he said minimum build times are only getting longer, as demand is still quiet high and there is a worker shortage. The current prices are rising by about 1% each month on the new properties. This may have been all talk, because he was trying to sell me a place.
When I investing in Townsville I have always been a bit put off by the high rates charges and high maintenance (especially for the highset we owned). The tenants would not tighten the cyclone bolts, so I got handyman over every year to check them. Things like that, that have been annoying expenses.
From what I can gather there is also a lack of school places in the newer suburbs, with much of the public schools zoned. From what I have heard, the zoning can exclude you if you are less than 1km from a particular school, because it caters for some new outlying suburbs. This must be frustrating for those that live so close, and then have to travel to a school further away.
Be interested to hear if anyone has gained much out of Townville in the last 6 months, especially after the builder I talked too raved about it. I have seen an ad for a newish 3 bedroom place on the net for 6 months and still not sold. This would tell me things are slowing down heaps. Anyone experience this?
JLMick,
Where?
JLMark,
Have you bought yet? Where did you buy?
JLDeadalus,
I know this is not for everyone, but hopefully I will look back on this post at the end of next year and say yep, you could have bought for $70k and now they are worth $250k with $400p/w rent as with some other mining towns. (I'll stop dreaming now).
Kind regards,
JLI'd like to earn $15k a month for a $50k investment. Where do i sign up?
I assume you mean $1500p/m.
Please explain what a covered call is for all of those that are ignorant – like myself? How does it work?
Thanks,
JLVikaris,
See, there seems to be little risk. Have you had any of your investments trashed. I have. Six months to fix and $49k of work. Obviously I was not out of pocket this much as I am not a large risk taker, but it is frustrating when a tenant does this, especially after being in the place a couple of weeks – he could of waited 6 months to trash it. With a DHA place, this risk seems to be minimal.
I understand that some people feel diddled by low rents, but I feel this is also a risk, and if you not happy don't sign the contract or purchase the house or renegotiate the conditions of lease, etc.
Bearing in mind I do not own a DHA leased house, so I am speaking my opinion from the grape vine. If I am wrong, please inform me, so I can adjust my opinion accordingly.
Thanks,
JLgod_of_money,
In no way am I suggesting that you purchase one of these to put yourself at risk of repossession. What I am merely saying is that if you are wealthy enough to sustain this kind of investment – which I personnally am not – then maybe putting something more into the system than just providing affordable housing (as we do as landlords), is good for Australia's overall standard of living. And on that, everything carries risk, and if you are at risk of repossession, the risk may have been too high. The key here is to resolve it, learn from it and move on.
I think you'll find that defence will have spending cut backs in most areas if not all, in the next few years. This will have an impact on those in the defence force, and to help them retain a decent quality of living with reasonable rents, more and more private investors will be required. You have to remember that defence employees are paid minimally, but retain some good conditions, including access to housing at reduced rents, to make the deal attractive to those that look at joining, and to keep the skills of those already trained. I guess this is why over the past few years we have seen more and more DHA ads, seminars etc, as DHA try to obtain more private investors for their housing stock. From my understanding of DHA, you can actually purchase your own property and if it meets their standards, you can apply for it to be managed by them. This would do away with what some have called inflated purchase prices.
Please let me know if I am wrong as I'm always up for a healthy discussion.
JL
This is my opinion only, so please do your own research.I have friends that rent from DHA and they are VERY grateful to those that do invest. I see that defence families have a hard enough time without having the burden of providing their family with housing everytime they are relocated. If private investors don't get on the band wagon, then Government will have to increase stock or the system may be jeapodised. Already I hear that in some areas there are not enough homes and families are being forced to privately rent. This can cause huge problems, not the least being spousal resentment.
I understand that some of you may have had negative experiences, but looking at the bigger picture, it is actually a good investment in social conscience.
JLIf you are after mining towns why not try south from QLD and check this out. Iluka mining has requested expressions of interest for positions at the new mine intended to open in Northern Vic late 2008. The two towns closest still have property at around $70k. Maybe a bargain to be had?
http://www.iluka.com/?page=mbsexpressions
Kind regards,
JLMick,
Prices have not jumped much. I settled in Jan and it is now worth around $70k. At this stage I am getting a good return and only had a few days vacancy after settlement, so I have done alright after 6 months in these conditions. I have spent around 6k on A/C's, blinds and a few other things. The mine is not due to open until late 08, so at this stage not much happening. I note that building in the town has started and there are a couple of new places for sale for $250k. This should bump things along with my 3 bedroom fibro place.
The mining company plans to close the mine after three years or so and then the environmental clean up after this. I note that in May the company who is opening the mine has advertised some of the positions vacant for the mine. They will accept applications from July. Maybe this might spark some interest.
If you are interested here is a link to the jobs:
http://www.iluka.com/?page=mbsexpressions
I guess Ouyen and Manangatang are the two towns that will benefit most. One thing to note though, is that there are other more major towns that are going to feel the positive impact, such as Mildura. Something else to note is that the processing will occur in Hamilton, which will reduce the need for staff.
So Mick, the punt has at least paid for itself plus a little bit. At this stage I am still hoping that it will pay alot more in the next few years, or I might need to go get a real job, working for someone else, to buy more IP's.
JLTony,
Just out of interest, I assume you received the $500 gift voucher as a gift or prize. Is it transferable. If so I'll give you $50 for it (the whole $500 worth). This is then a win/win. You get $50 for nothing and I get my subscription for $50.
JLBlogs,
Thanks for saying what I was thinking. This requires too much trust for me for a possible $14 saving. Not worth the risk??? Isn't it funny how this rule applies to everything in life??
JLMichael,
Please don;t be put off by this. I am in the process of listing a place that has an above market rent – only by around$20 a week – the tenant is fantastic and has been their 3 years and wants to stay on. We are selling because we made mistakes with our finance and this is impeding our ability to move forward at the pace we would like. There might be any number of reasons why they are selling so please keep an open mind. If you research it properly, and it fits, why not buy. The good thing is, you do not have a period of vacancy and a lease fee when you settle.
If it really concerns you, why not make your offer on the condition that you settle on the date the lease expires. This way you can have a new lease in place on settlement.
Good luck
JL
