Hi GTR

I am familiar with the Darwin area. It is currently being very kind to my equity levels.

For Capital gain go houses. For yield go units, although I believe there is still some capital gain to be made from units, particularly in Palmerston and the northern suburbs.

Good luck

K

For potentially 10 thousand bucks difference, I would get someone around to quote on repairing the whiteant damage. You will find out quick enough whether there is damage, and if so, how much it would cost to repair.

But that depends on how desperate your father is to sell. If this is the only offer that has come along, you may be best to just…[Read more]

Hi Elbows

I bought a one bedroom unit in central Darwin in April this year. I paid just under $95,000 and spent about $1000 on paint, new door handles in the kitchen etc. I am getting $300pw rent. It has always been tenanted except for 2 days with a changeover in tenant.

Now THAT’s CF+

Cheers

K

I take a kind of perverse pleasure when people just don’t get the property investing thing. When I get a negative comment I realise that there is one less person to compete with when trying to buy decent properties!

Apart from that, I surround myself with people who are positive about investing.

Cheers

K

There is an excellent magazine called something like Queensland Property and Lifestyle magazine that has values and yields for both 3br houses and 2br units. The mag comes out every quarter. I’m sure you could subscribe to it.

Cheers

K

Hi operator

Welcome to the forum.

In short, yes you should take the plunge but no, you shouldn’t do it without knowing what you are doing. The market has been around a long time. It will still be there after the forum you are going to.

One thing I would recommend you do is buy the Australian Property Investor. It is a wealth of information…[Read more]

Oh Dr X, you are going to hate me. I am a lawyer AND I used to work for insurance companies.

But I’ll redeem myself here. Insurance companies have budgets to meet. Their initial stance (by non lawyers) is to reject all but the most obvious claims. They then (again by non lawyers) try to negotiate to THEIR best outcome. Most clients accept…[Read more]

I’m currently sitting on about 66% but have no problems at all being up to 90% or even higher.

I only buy properties that make me money from day one so I figure that I am better off having some of that equity going towards a new property to earn me more money.

Of course I lose sleep but that’s because buying property is stressful, but having…[Read more]

I own a property in Mt Isa and I would urge caution.

I have posted on this in the past so do a search on it.

In summary

There is not such thing as good areas and bad areas generally speaking. There can be a good house next to a bad house.

Go and physically inspect a property before you buy it. I get the feeling some owners have a few drinks…[Read more]

Hi grossrealisation

Thanks for the advice.

The units are already strata titled – which almost makes up for the disastrous state they are in.

I have been dealing with the ANZ bank directly as well as with brokers. The ANZ came back to me today and said that they would lend at 80%. Who would believe that a major bank would come to the party?…[Read more]

I’ve got an excellent accountant. I just do whatever he tells me to do.

I used to trawl around the criminal courts (where of course you don’t need to know any actual law!) but I have just had a baby and have retired. My husband will join me in retirement at the end of next year when hopefully we will live off our property investments.

Ah,…[Read more]

Thanks for that ASDF

You have just reminded me that, despite having a law degree, I would rather pay an accountant to do all my dirty work!

Steven (sorry about the Simon thing), I have spoken to your mate today and all systems are go.

Cheers

K

Hi Simon

Forgive my ignorance, but what is a director’s guarantee?

K

Hi Adam

A 6% return is not that great in Darwin – especially one that is guaranteed for 12 months. What will the rent be when the lease expires?

We are buying on at 10% return up there at the moment – they are pretty hard to come by but they are still there.

Also, DHA has VERY strict requirements before they least the homes from you – make…[Read more]

Hi Dazzling

I’m with TerryW. Just quit.

My husband is overseas now for a few months, leaving me and my 10 month old back home. It is killing him when I tell him about new words or new teeth.

He is quitting work at the end of next year and the only reason we are leaving it for so long is because his job is very cruisy when he is at home. THis…[Read more]

Hi Carl-Vic

One very important consideration is whether your mother is on Centrelink benefits. If she is then accessing the equity may affect her entitlements.

My sister has offered to let us access the equity in her property to buy a commercial property. She receives parenting payment. She contacted Centrelink and was told that if she…[Read more]

I have an IP in Mt Isa and, to be honest, wouldn’t buy there again. I am having an awful time with the property manager. For the first 6 months I had to call up every month and find out why my rent hadn’t been paid into the account – there was always someone else to blame. Apparently on about month 3 it was my fault because I hadn’t given them…[Read more]

“Secondly, the lady at the desk told me that the council is currentl rejecting and applications for double story units in back yards, which is a shame because thats what i was planning.”

Currently? What does “currently” mean. Double storey units in back yards are either acceptable under the current development plan or they aren’t. If they are…[Read more]

Thanks for all your comments

I am getting a building inspection next week and you can bet your boots I’ll be walking through the property with the inspector – and the valuer on all future purchases!

I’ll keep you all up to date with how it goes.

K

I think there are still CF+ deals out there – you just have to look widely.

I have been buying CF+ for only the last 18months and have bought 4. Each of them returns at least 10% with one returning 16%. One is in a regional centre of about 20,000 and the other three are in a capital city.

All of them have achieved capital growth of at least…[Read more]