FOrgot to add…
There is an ANZ, CBA, Westpac, National, R&I banks, and a couple of building societies in town, and normal LVR ratios apply to property in town.

KP

HI all,
Thanks C34 for dobbing me in…and yes I am in Karratha…

There seem to be some GEHA (Govt Employees Housing Association) and Defence Housing leases around that offer longer term +++ leases.

From what I have seen, they are not really +geared, and the asking prices tend to reflect the rents received (ie…high rent = high asking price,…[Read more]

Joy to the world indeed…..

Mini, I wish I could be transported to NZ to check out whats going on over there.
You’ve just about convinced me…
Are you on the North or South island ?

All the best,
KP

Great advise PK,
Too many first home buyers want all the bells and whistles when they buy their first house.
Its gotta be a 4 bed 2 bath NEW house with a mortgage to match which as you suggested, keeps you poor just trying to keep up with the repayments.

The first property I bought to live in was so bad, that the bank would not lend on it not…[Read more]

Ummmm….Kabung,
You stated you’re on your 2nd and 3rd development…So why can’t you use the item list from your 1st development to compare to ?
Surely you already have the info you are chasing ?

KP

I believe its a “Buy & Hold” property.
ie.. one you intend to keep……

KP

I think you mean “squatters rights”

KP

Thanks for the clarification Michael,

Tristan, contact DOCEP, you can do this on line via their website where you can download application forms and expalnation forms regarding the CPL, etc.
Worth a look.

KP

Westan,
It was the principal of a RE office.
Wealthy woman (still is) but how gullable ??
or just greedy…

KP

I sympathise with your dilemma phenomena, and I did take note that you said it was your first sale.
I tend to agree with you that you are paying the agent for their supposed professional service, in your case you copped a lemon.
You can be as proactive as you like, but in the end if you are dealing with a rude, abusive person ( firstly you don’t…[Read more]

Ouch Acey, that hurt !!
Monopoly: I have to stop taking the bait…

There are none so blind as those that will not see……someone forgot to look at the big picture and just focused on the tax $$dollars$$

I can’t say anymore….no point getting keyboard and mouse RSI flogging a dead horse…
KP

Yep, you’re right Sal,
Sounds like a good arrangement to me…do it in stages, such that you still have some cashflow from the other rentals.

By a pain, I mean you have to budget for the borrowing expense (interest) and holding costs. If you can manage this, it is no problem.

In fact you can still claim the interest cost as a tax deduction…[Read more]

It is more than sus…it is a SCAM..
like the oil ones from Nigeria.
They want your bank account details usually, to DEPOSIT money into…..usually the opposite happens.
I actually knew someone who flew over there thinking it was a business opportunity !!

KP

Dom,
Try working backwards…ie start from the final market value of the completed development, and deduct all the various costs including, completion, construction, subdivision and finally, initial purchase price. This will give you an idea if it going to be a profitable exercise and also an idea of what you must pay for the property…[Read more]

Port Hedland, Karratha and Kalgoorlie, all in WA.
All mining towns, with ongoing mining operations and very high rents…

Its a tough one if you’re on a budget…
We had alarm fitted to a brand new IP and it got broken into in the first week after tenants moved in.
The broke in at night with tenants in situ with the alarm turned off.Stole a computer and car+house keys and a wallet.We had to change all the door locks.
Tenants were so scared they moved out, and the…[Read more]

No, please explain…..

Ummmm,
The market is supposed to be flat to going backwards… where is all this capital growth going to come from in the immediate future ??

There is nothing wrong with selling and taking a profit from time to time..

KP

Tristan,
have you got your Credit Providers Licence ?
Its illegal to vendor finance in WA without one..

Better for you to do some homework before you get involved…

KP

No takers Marisa,
must be the Wait Awhile factor….
I was in touch with someone who is currently going for his CPL to start wrapping in WA
He gave me the name of someone who is supposedly successfully wrapping in Perth.
CAn give you details if you are interested.
Cheers
KP