Forum Replies Created
Thanks for that guys
I do always prefer to meet someone face to face initially as you can gather much more information about them than just over the phone. Body language and even the state of their office speaks volumes
Does anyone know a good property accountant in any of these places: Emerald, Mackay, Rockhampton or Townsville. All of these places I can travel for with tax as live in a rural town.
Yeah I totally agree guys and that was pretty much the conclusion the debate on tv came to as well. Just wanted to see if anyone else had an alternative view
I still have my first car! A 2000 Holden VT. Our household just runs on the one car. Looking to upgrade soon but nothing too flashy. We don't wanna forego another property for an asset that depreciates in value so quickly at this time in our acquisition phase. However, one of my husbands dreams is to own a ferrari so hopefully one day we will get to a stage where that is a reality!
You Investment Property Magazines website has a suburb search function which will give you: vital statistics, demographics, recent sales and rentals and a "more info" tab which it says will get you in touch with a local expert (probably a local real estate agent) who can provide you with info like:
. The best and worst streets- The best schools
- Most in-demand properties for tenants
- Most in-demand properties for owner-occupiers
- How tight the rental market is
- Environmental issues
- Current market conditions
I agree farva definitely a buyers market. We are in the process of settlement on our latest IP and looking to buy 2 more this year. Be brave when others are fearful as Warren Buffet famously said. Do your due diligence and you can pick up some great bargains in this market
scha9799 wrote:Hidid anyone use Margaret Lomas's service ?
any feedback about her service ?We aren't clients but we attended the 2011 Destiny Financial Summit last year in Melbourne which was invaluable in breaking down our ultimate goal into manageable steps and we are building our property portfolio now quicker than we thought possible before the summit. We will definitely attend if they have another one as it is about genuine education and not a sales pitch disguised as a forum. Some of the speakers/ topics over the 3 days included:
Rob Balanda -gave great advice on different conditions for contracts to cover yourself better
Terry Ryder – the anatomy of a hotspot as well as some of his hotspot picks and why
Topic: how to maximise your property portfolio
Investor panel: real life investor panel where you heard their failures and successes and could ask questions
Fincance Panel: Could ask panel any questions to do with finance.
Hi Sam,
Have you thought about Rockhampton? The entry price is a lot lower (can still get houses under $300k) and demand for housing from Gladstone is overflowing to this area pushing rental yields up as well which will help with cashflow. You would have to check the flood zones though. Pretty much okay on the north side and in Gracemere as Gracemere is set high so it may get cut off but homes do not flood.
As well, like Moxi said the Hunter Valley region in places such as Muswellbrook, Singleton, Maitland. Muswellbrook is the cheaper option (again you can pick up property under 300k) with good rental yields and growth drivers one of the obvious being the Mangoola Coal mine under construction outside of Muswellbrook. Properties in areas like these allow you to grow your portfolio without a big outlay of your own funds and with a good rental return will only be slightly negative beofre tax and overwhelmingly positive after tax.Thanks Aaron… I'm thinking we'll put the offer in but ask for a longer finance approval as well just to cover ourselves. We normally deal with our bank via email anyway because of the lack of a branch in our country town so I think it should be okay
Hey guys and girls,
I have a problem I hope you can help me with. My partner and I are currently settling on our next investment property (settlement is mid-april) and we are going overseas for 3 weeks (contactable sporadically by email only) but we have found another property that we would like to put an offer on. Do I wait until I get back from my overseas holiday and hope someone doesn't snap it up or are there measures in place where I can put an offer in now. Leave for holiday on 6th april.
Cheers
with these suburbs being under 'mortgage stress' they might be prime targets for investment in terms of picking up a bargain from a distressed seller.
Hey fishmeet, BMA (BHP) is required to build 160 new homes in Moranbah by June 2013. This will obviously have an impact on rental returns in the area. A lot of people I have spoken to who own property in Moranbah are getting out now or have already gotten out. They have made awesome capital growth from their properties and enjoyed the immense +CF over the years but I'm afraid you may have missed the boat. You will still get a decent rental return but who will buy your house later on down the track?
We just bought in midland for a pretty good entry price and great rental return for our third IP…try looking at ugly duckling places closer to the CBD that have some things going for them:
-injection of funds from government
-an active local council
-an úgly duckling' suburb that is going through a process of gentrification and urban renewal.If you can't find any I would suggest Rockingham over Bunbury just because of it's relative proximity to Perth and it ticks those things I just outlined above. Just make sure that you don't get sucked in by those houses there that are way over market value. Stick to your budget and look for the bargains that maybe just need a quick coat of paint or a cosmetic lift that could see you get more value out of the property.
