Forum Replies Created
Sorry Phil- it came out looking like a picasso. Never mind- the thought was there
kay henry
LuckyPhil,
In honour of your first emoticon, here’s a little bunny for you. I drew it myself
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(o) (o)kay henry
Glad we’ve moved from anger about the lazy, stupid poor to “the ex”- now I can relax [
]kay henry
Alexander,
Many of us on this board would be investing interstate. With the advent of the internet, Australia looks very small :o)
Here’s a few ways you casn check out the inside of a place without seeing it.
* Ask for photos of the inside of the premises from the vendor or RE- a “virtual tour” with moving cam might be possible. If the RE thinks you’re serious about buying, they might do one for you.
* if the place is multilisted by RE’s, then you can ask all of them a heap of questions about the place. Ask the same questions to each of them and see what answers you get.
* You could probably offer a local RE to check the place out for you for $100? Dunno how effective this might be. But I know RE’s want future relationships with buyers. So they might be willing to help you out in this way. Make sure they do a checklist on the place. But the vendor or selling RE might kick them out if they know them
[]* Get a copy of the body corporate minutes or ring up the Strata Managers and ask them if there are any problems with the block of units if it’s a unit. They’re usually pretty happy to have a chat about this stuff.
* A building and pest inspector can check out the place for you- you’ll have to pay him or her though :o)
If you know nothing of the town, have no pictures and know little of the place you’re buying, I would suggest *strongly* that you visit it before purchasing. I have bought places sight unseen, but both places had virtual tours on the net, and i asked a million questions from every person who has had any association with them. I rang up independent RE’s asking about the units, rang up pest insepctors before even thinking about buying and getting my own inspection done, spoke to onsite managers, strata managers, checked out past sale prices, everything I could find on the net about the town and the area etc.
kay henry
Because it’s fun! [
][^][][][:0)][^][:X]3 wrds + 7 smiley faces
kay henry
Dear nu gen :o)
I joined the forum on October 26, so I am a bit of a newbie too [
] It doesn’t matter how old we are, we can be as new as an over-supplied apartment not yet off the plan! In answer to some of your Q’s:
How long did it take you to buy your first IP since getting involved? Me and my girlfriend bought a little apartment when she was on 13k and i was on 17k wages. We had a 30K deposit, and we just went in with absolutely no idea what we were doing. We sat the mortgage broker down on a milk crate in our back yard, and we never looked back :o) Of course, prices were cheaper 9 years ago, but we did ok. no sooner than we had that than we jumped in again, buying an even cheaper one. Then we divorced and split them- que sera sera.
Who has influenced you and do you have a mentor? I don’t believe in mentors- I just do my reading and I discuss things with friends or people who have similar interests. I read as much as I can- I read all newspapers I can online and every other article I can lay my hands on. Some of the stuff I read- elsewhere and on here, isn’t useful to me. I just decide what makes sense to me, and what fits in with the way I want to live my life. I don’t do heroes, gods, or guru’s. I like to think as independently as I can- it makes me feel freer that way.
Have you learned anything the hard way or has this site saved you from doing many things wrong.
I think we all make mistakes in life. I have made many- i make them every day :o) It’s part of being an adult, i think. Wish I was still a kid though- then I could just blame my mum I must say though, I learn much from this site. I like posting and communicating people, so this is a much more “2-way” process than merely reading a book.I have just bought my 3rd IP, nu gen- even if you make some mistakes along the way (for example, 9 years ago, I had no clue about property and only started reading about it *after* I had bought the property- and sites like this didn;t exist much 9 years ago- well, they might have but i didn’t know about them!
It’s good to get advice and share information between people. But ultimately, where, why and how you invest is up to you.
I still ask my solicitor, RE agents, and bank manager all sorts of questions- probably the same ones over and over- because I find some of the processes difficult to get my head around. They don’t seem to mind- presumably they make wads of cash from us- it’s their job to be patient
It’s a nice question you’ve asked
kay henry
nice to see you there Broz- I was beginning to think Fudge had made you up [
]Shaun, I understand your frustration. What I think is that we all take our time with different things. For example, I didn’t and probably *couldn’t* invest in RE until I was 29- I just had a block about it. Some people don’t have children until late in life because they’re not ready for it, and some people find the job they finally love late in life- if ever. We’re all at different stages, and sometimes the things we can’t actually “hear” at a certain time in life, make sense later on down the track.
Probably next time you want to be intimate with her, she’ll get a look in her eye and say, “shaun- get out the calculator! i wanna positively gear with that 20K!” And then, you’ll realise it’s her time to start thinking about those things.
Sounds like if she’s got 20K saved, she’s doing pretty well. Some people probably get scared about investing too, because it can take so long to save money, and they may fear losing it by making a mistake. I guess as she has a child, she wants to make sure the little one is secure too- she might feel like she can’t afford to make a mistake. I think it’s often when we have more money, and therefore feel more secure, that even if we make a loss, we’ll still be ok. But the less we have, the more we have to lose.
kay henry
mcollins and all
)I think this “put your money away for 18 months idea” has some merit, but it depends on what you’re looking for. The cheapy 50k properties will still be 50k tomorrow. The oversupplied apartments in inner melby will maybe move from 400k to 320k if there’s a drop of 20% (there’s already been a drop of 4.5% there, so only 15.5% to go!), but do you really want to buy them at that price anyway? at 300k, you still have to get 600 bucks a week rental to get a similar kind of return that you’re looking for, and 300 bucks a room in melbourne? um, I don’t think so.
I used the example of those apartments that will be “at risk” of a much greater price drop- particularly when they’re actually built from the OTP arrangement. I think other properties in decent locations with distinguishing features will be much more “bust-proof”.
You will *always* be able to find properties in your price range- if you’re realistic. But if you lock up your money, I reckon you’ll miss out on some bargains
mcollins- if you do a check on realestate.com.au and do a general check on different locations, and do the search “by price”, you can find out the cheapies around. But if the rental for the area is 80 bucks for a 2-bed place, you can renovate up the wazoo, but it still might not get the yield you’re looking for.
Erika
)Yes, I am sure you as a prospective owner might be able to arrange with the sellers to put tenants in. I was thinking that NK was wanting the sellers to get the place tenanted as a condition of contract. So my response was suggesting I don’t think he can ask *them* to get in tenants as a condition of sale. But yeah – i am sure the sellers wouldn’t mind if the new buyer got them in :o)
kay henry
Props :o)
Married to henry kaye would make me kay kaye, right? And you never answered me as to your cultural background? I’m interested to know where you’re from. I’m travelling to Austria next year and i’ve never been OS before, so it should be lots of fun.
Thanks for your comment elsewhere, Mr Proppy
) I felt kind of asked to leave another forum, so I did so. It hurts a bit to be spoken about like that, but what can one do? :o) I think i’d prefer to be in an environment where one can be oneself- it’s a bit healthier for me So still here!
kay henry
Props :o)
That’s 3 IP’s!! yay for me
I know it’s only a few (more like a “petitfolio”) but it makes me very happy!kay henry
PS Saw another post about henry kaye going down and couldn’t help but think it was me!
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