Forum Replies Created
Hi, I have a couple in darwin which I'm about to start renovating Im pretty sure there is capital growth still to come. I'm a bit hesitant with units as there seems to be lots around and lots more to come.
Theres always people moving up here but there seems to be alot leaving too because of the cost of living. Impex is only meant to be increased demand in the first few years construction phase ive heard.
Even though some say it wont increase demand because the Howard Springs workers village but Im sure there not all single blokes who will wont have families so they will need proper houses / units.
Anyways Im sure your on the right track.
After reading your post and reply I too applied with Esuper, seems ok.
Hi, I had no capital of my own lckily my mother let me use her property as security to get me started.I borrowed the 100% including costs.
You can get me on [email protected]
No worries,
I might have to learn how to change that got no idea how it works. Ahh well anyways drop me an email on [email protected]
Talk soon.
Hi Menunes,
I live in darwin. Renovated and made abit of cash on 2 properties in Melbourne but moved up here and now bought a couple here. About to start renovating got 8 studios and 2 houses to do fun fun hey. Anyways I'm interested to chat with anyone in Darwin interested in same thing as me and thats investing in property!
Send me a message if you want and maybe I can come by and give you some ideas when I get back in couple weeks.
Keenan
They are around and you can get them in Darwin which is where i live. I bought mine last year right behind Fannie Bay racecourse with a 10 % return from day one and when i do the renos will be 21 % return plus 800k + in equity ( Units on block ) that will give me 80-90k pa after loan repayments. Theres my passive income right there. There is another property same set up that I have my eye on after that in Fannie bay.
On a smaller scale i recently bought another in Ludmilla at 456k 3 bed elevated house also run down but after renos and adding a granny flat underneath should be positive cash flow just but in area im still going to get equity up in too.They are there you just have to keep an eye out.
Keenan
I gave them both a call today. Thanks again. They seem pretty good.
Yep, got it at auction after police co op said they could do it never told me it was comercial until a week after auction when she must have realised herself so was left running around had no time or much choice besides commbank, so as i was borrowing full amount they loaded up security with company structure, 800k property, 580k property as security, long term job goverment job security at 150K wage and rental income from this property at 65k a year. They walked all over me but i had settlement date to work to and the bank still dragged it out with settlement after 5 months! It finnaly did though now i need a better deal.
Hi Jamie,
I need an advisor, accountant and possibly broker to look at refinancing at some stage. I live in Darwin but spend a fair bit of time back in Melbourne so thught there are lot more choices more property orientated down south and hopefully tax deductions with travelling.
I'll gook them up and give them a call thanks. Read your article to good info.
Thanks. I might have to do that. I used Aussie to find me the deal through commbank but i wasnt really that impressed with them. Commbank as I was borrowing 100% had me use 2 properties as security and set it up under a company structure seemed like alot of security consideringit was bought for 670k valued 640k by bank and they hold security over one they valued at 580k and another at 800k/. Seemed like a lot to me but i was working to deadline. Considering it was fully tennanted brings in 1250 per week and my wage was around the 150k?
Thanks I'll look into that. Keenan
Yeah i only want to advertise it myself until permit comes through thought just expressions of interest on the block. Not planning on taking any cash just find a buyer when it comes through to save a bit of time and money.
Because of the number of units i had to get a commercial loan the bank made me get it under a company structure so I know i need to pay GST but i plan n holding them for the rental return and use equity for further purchases. I used an accountant who i didnt find to helpful in the end to set up the company etc. Process was quite draining but its done now and pretty much paying for itself until i do the renos and get new tennants.I would like to look at refinancing it though as at moment its variable interest and principal with commbank at 8 soon to be 7.6% thought it maybe better to go IO at a fixed rate a bit lower to make it positive cashflow in meantime rather than neutral.
Yeah, in the condition it is in im thinking second half of next year once i can starta title the rear units and renovate. I need to sit down with a good financial advisor / accountant in Melbourne if you can recommend one. I have read alot of your posts over time Terry and you seem to know a fair bit. Let me know if you know who can help plan where to go from here. I got two other investment properties last year aswell so i need to nut out best way to keep moving forward. Thanks
Hi, I asked my plumber mate this as a house i bought in Darwin was running off gas bottle since found there arent gas lines in Darwin as only neded for cooking. He lives regional vic and runs off gas bottle too. they come out every 3 or 6 months and top them up. He did suggest to me that it would probably cost a few thousand to do if it was available in Darwin so I guess you would have to check to see if it available in Hamilton and if its suburban area maybe a few thousand.
