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  • Profile photo of lucigooseylucigoosey
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    @lucigoosey
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    November 1, 2011 - 11:26 am

    Just wondering if someone can provide some advise on the type of insurance required for a new landlord.

    I just purchased a Strata title 1 bedroom apartment. What  type insurance should I be taking out for this? Is it only landlord insurance or some other as well?

    Thank you in advance

    Profile photo of lucigooseylucigoosey
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    June 29, 2011 - 10:07 am

    Thank you for the response, much appreciated

    Still do not get it, but sounds like i should stay away from it

    thank you once again

    Profile photo of lucigooseylucigoosey
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    May 22, 2011 - 10:09 am

    Thank you…… much appreciated

    I am conscious of the current market conditions and really do not want to be making a big mistake here

    thanks again

    Profile photo of lucigooseylucigoosey
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    April 25, 2011 - 12:05 am

    Thanks for your thoughts……something for me to think about………..
    East Stkilda is definitely an area with greater growth potential

    Profile photo of lucigooseylucigoosey
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    February 13, 2011 - 9:07 am
    Derek wrote:
    HI Luci,

    As per your initial post & FYI – new/OTP properties will have a decent depreciable percentage in them. Still recommend getting an independent QS report done.

    Just wondering what an independent QS report is and who can do them?

    thank you

    Profile photo of lucigooseylucigoosey
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    February 13, 2011 - 8:54 am

    Since this topic has come around would people say the same thing about the following organisation

    "Australian Finance and Property solutions" http://www.afps.net.au

    Financial planning via a property solution is that such a bad thing?

    thanks

    Profile photo of lucigooseylucigoosey
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    February 13, 2011 - 12:25 am

    I would like to hold the property for a cycle of about 5 to 7 years, I see my self as more of a buy and hold and wait for capital growth. It would also depend how much i need to put in to top up the rental payments.

    Profile photo of lucigooseylucigoosey
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    February 12, 2011 - 2:41 am

    Who can provide independent advise?

    Profile photo of lucigooseylucigoosey
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    February 11, 2011 - 12:29 pm

    Thanks Jamie thats a good start and ill do a search in google for the pros and cons.

    Still hope to hear from people who have had some experience in this area

    thanks

    Profile photo of lucigooseylucigoosey
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    December 23, 2010 - 12:29 am

    I have herd both cases about Las Vegas.
    Its hard to say but from my research the condos don’t do that well but medium to large family homes do well and rent out easily.
    Warm climate, many tourists…… some of my research shows a declining population with a high percentage of jobless people and then again some says a growing population …… so who the hell knows……….

    Profile photo of lucigooseylucigoosey
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    December 21, 2010 - 10:30 am
    Dale Harmer 10730 wrote:
    lucigoosey
    To your question about cheaper properties in San Antonio. Yes the city does have some very good properties which are well priced. I managed to pick up 2 x 4 plex properties next to each other. One was 45,000 and the other was first listed at 70,000 but we missed out on it. I tracked down the new owner and ended up paying 110,000 this was done to add value by having an 8plex. Each unit is now rented at $652 per month
    $155,000 total purchase price
    $ 55,000 renovation
    $62,592 gross rental
    100% occupied
    29% Gross
    Tax $6000
    Management $626 P/M
    Gardens$1200 year
    Approx Nett 19.8%
    This is one example which may give you an indication of what is available. Single family properties can be purchased from $30,000. Any thing cheaper usually need to much work or are in bad areas.
    Our typical renovations are between 20 and 30,000 but that depends on how good a quality you want to go. From our experience if you do a good quality renovation you will let the property a lot quicker and prevent future problems and vacancies.
    Good luck with your research

    Hi Dale, thank you that is great information.
    Do you expect capital gain as well? what would you expect to see once the economy stabilizes which could take….well who knows….3 or 4 years maybe

    Profile photo of lucigooseylucigoosey
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    December 21, 2010 - 3:50 am

    Ok so with this in mind can you still get relatively cheap properties in these more stable cities such as
    Dallas, Austin, Houston

    Is there income and capital growth?

    What would the average property cost in those 3 cities?

    What do people think of Phoenix?

    ta

    Profile photo of lucigooseylucigoosey
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    December 21, 2010 - 3:13 am

    Thanks Alistair
    sounds like good advise…..Ill try and hunt him down…… doesn’t seem to have a website

    Profile photo of lucigooseylucigoosey
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    December 21, 2010 - 1:20 am
    guehling wrote:
    Hi Lucigoosey:

    It is interesting that you have identified those markets.  We tend to invest in the ones you identified and avoid the markets you found to be poor.  However, we do more due diligence as we factor in local infastructue build and investment, property costs, taxes, school systems etc.  To this end we are in Cleveland OH, Kansas City MO, Memphis TN, Birmingham AL & Dallas TX.  We are opening up Pittsburgh PA and Atlanta come February.  You will see my post earlier showing the level of service we provide as we do more than just buy property for Aussie investors.  We structure and set up each customer so they are capable of executing their purchases.  We also personally visit each property before you pull the trigger.

    We are not in San Francisco because affordability makes it difficult.  This isn't to say that we don't like SF, just that it's an expensive proposition.  I don't see why you didn't get positive data for Atlanta as our numbers are proving that this is a good market to penetrate.

    Let me know if we can be of further assistance.  Greg

    [email protected] or 1300 854 431

    Hi
    Thanks for that, ill have a look at your website and give you guys a call

    cheers

    Profile photo of lucigooseylucigoosey
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    December 20, 2010 - 11:05 am

    Hello
    I have been sitting and reading about the US market for hours, seems that there are ideas and theory's every where you look. I did some google searches on things such as "Best vacancy rates" "Growing US population" "Rising vacancy rates" etc etc.
    So some of the cities that keep popping up on the good side are

    San Francisco-Oakland CA
    Austin Texas
    San Antonio, Texas
    Oklahoma City, Okla
    Raleigh-Durham, N.C
    Pittsburgh

    None of the above areas are the ones being spruked by most companies in the Australian to US invest game.
    Most of these companies are working in the following areas
    Florida
    Detroit
    Atlanta
    Phoenix

    Can anyone explain why? and also can any one assist and provide help in investing in these other cities?

    Ta

    Profile photo of lucigooseylucigoosey
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    December 18, 2010 - 3:23 am
    speedy gonzales wrote:
    Hi Lucigoosey,

    White Goodman is correct…exchange rate risk. It also saves using all/some of your Australian equity.

    You are also correct Lucigoosey in that everyone's situation is different and there is no single approach that suits all. Just like investing in Australia.

    Hi Speedy….. i may sound like i know what i am talking about but not really…. :)
    I dont understand the exchange rate risk, could you explain?
    thanks

    Profile photo of lucigooseylucigoosey
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    December 18, 2010 - 3:21 am
    Sanfrancisco wrote:
    I have a house in San Francisco Bay area. Works GREAT!  Cost $US110,000 for lovely house that just needed paint. Last sold for $400,000. Got 20 tenants that want to rent a $1550/mth, in the 3 days I advertised. Property Tax is 1.25% of purchase price.
    Closing a similar one soon.
    Only problem is cant find USA finance under 12%. Paid $500 for application fee with likely Florida based firm, but no luck. Anybody found that elusive 5% finance yet?

    Hi Sanfransico just wondering who are you using to purchase your property's? Are you here in Australia?

    Profile photo of lucigooseylucigoosey
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    December 17, 2010 - 1:36 am

    Funny thing this US investment, everyone has a totally different opinion of where to invest.

    Why doesn’t anyone talk about areas such as San Fransico, Oakland, Memphis, Seattle

    As an outsider these areas seem to be very solid and they have cheap property’s as well as forecolures aswell

    any thoughts experts?

    Profile photo of lucigooseylucigoosey
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    December 17, 2010 - 1:32 am

    Why not just borrow money in Oz seems to be similar interest rate…then? draw down on equity or something like that? I guess everyone is in a different situation with their finances.

    Profile photo of lucigooseylucigoosey
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    December 17, 2010 - 12:27 am

    So they provide you with US financing? Does that mean your interest rate is at 2%??? How do they do that?

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