Yes, after re-reading $300K to $600K.

Seems like we are all thinking along the lines that renting is the way to go.

Could rent out $500K home for around $270 per week, where you would be paying over $700 per week on interest alone.

(Hard work never killed anyone, buy hey why take a chance)

Hi Munchwood

I also think it is initially a good idea to rent in Perth especially with the market cooling. In 12 months time you may find Perth better value.

Also, looking at purchasing around $300K-600K, not sure what u could purchase for $300K , as median is over $430K, maybe a 1 or 2 bedroom unit?? I think u would possibly need closer to…[Read more]

Hi TraceyL

Look at the numbers and the facts and what can realistically be achieved, ie – sales figures for the relevant pocket, how many houses on market, how is the upper end moving at present and talk to as many people who either sell or know this market. At least this way you can make an informed decision.

I had a quick look at homes…[Read more]

Hi TraceyL

You would be looking at $225,000 for the block and around $250,000 for the house (approx 250-280sqm2 home), is this about right $475,000 and it will take approx 12-18 month build, would turnkey be around $530,000 (including holding costs), is this about right??

Before I signed on the dotted line I would be looking at what is currently…[Read more]

Hi Tracy L
Just need a couple more details

Is block green title?
What size is the block?
How far away from river?
What is the price of block with a view, and can u be built out?

Cheers, Marisa

(Hard work never killed anyone, buy hey why take a chance)

crashy,
I think many people will run a mile when it comes to structural damage, so this could be a great opportunity to negotiate and purchase a bargain. Just need to make sure you are purchasing a real bargain.

We purchased a property with structural damage some years ago and basically picked it up for land value. I have to say though this…[Read more]

Hi all
thanks for a great post Gross.

Everything is going very well, probably better than expected.

Finally resigned from my part time job in April 2006 to concentrate on enjoying life, having fun, have also taken up some personal development courses which has been great, also gives me lots of spare time to research deals etc.

Completed 2 house…[Read more]

Hey Redwing,

Its been an amazing ride – 5 years and still going strong.

For those who have enjoyed the journey…… congratulations.

As far as investing in WA I would not be giving it away just yet, I believe it still provides more opportunities for CG than East at this point in time.

(Hard work never killed anyone, buy hey why take…[Read more]

Just a couple more questions……

I am seeing a shift in WA market, what if security comes in under 70%LVR???

Can I top it up I have a couple of LOC?
Do most lenders allow this?

I do have concerns when it comes to getting properties valued as sometimes they come in way under. I imagine many have had similar scenario.

I had another property…[Read more]

Hi jamessprunny

I have 2 properties in Dalyellup and agents have confirmed that the market has softened. I notice that currently in Daly there are about 100 homes on the market and buyers now have many choices.

The RE agent mentioned that Bunbury and surrounding areas have flattened, however I was told that Worsely were looking at upgrading…[Read more]

Thank u Richard and JohnSmith

I initially contacted the bank and spoke to 3 different people and got 3 different answers. I was hoping to get an idea but gave up at the end.

I appreciate your help.

Great to have all this expertise on this forum.

Cheers, Marisa

(Hard work never killed anyone, buy hey why take a chance)

bruham
congratulations on your Curl Curl property, I have heard this is a great spot.

Mickey P
I was listening to Gavin Hegney on ABC last week where he mentioned there were only 2 States he would invest in for future growth – WA and QLD.
He spoke about the fundamentals which would continue to drive these markets upward, ie pop growth,…[Read more]

Hi Redwing
I dont think I will be doing much more in Mandurah for a while just too expensive. Damn investors.

I am actually looking for blocks around inner city areas and its surprising but I think I have discovered a couple of pockets that represent better value than new developments.

Cheers, Marisa

(Hard work never killed anyone, buy hey why…[Read more]

Not sure whether this is relevant, but I always wander why people cant sell, or why a particular property stays on the market too long and it always seems to come down to asking price. Is this realistic, are you asking too much?

As Terry mentioned what are similar blocks going for in this area, I would be looking at this?

(Hard work never…[Read more]

Hi kp
Thanks for that information/tip, still doing all the homework, I have at least 12 months before things really start happening.

I plan to get an architect to design so not sure whether this would be something that builders would look at in Perth, especially in current climate. But this is worth a shot, I will investigate.

Also some good…[Read more]

Ownahome,
interesting points, something I will watch for in future.

Hi Celeste
One example that I can point out is development of new Madora Bay, I noticed that prices in old Madora Bay went through the roof.
It also helped that the new Madora Bay development was what I would say a small development.

Do you know much land will be developed, as I…[Read more]

Hi Terry
I am going to contact a girlfriend who has found this brilliant accounant and lawyer and hopefully they can help with this.

Thanks, will keep everyone posted.

(Hard work never killed anyone, buy hey why take a chance)

Hi DLPP
I think this can be done as I met someone years ago who mentioned this structure, he was partner/CPA in a large accounting firm in Perth.

It would be interesting to know if anyone has actually done this.

(Hard work never killed anyone, buy hey why take a chance)

Hi Richard

I did speak to my broker this morning and depending on what the block value comes in at – I may look at purchasing the block outright (70% LVR).

She stated that once the building contract is signed then they could revalue block. I may then have a possibility of the block coming in at higher value??

When I meet up with her again I…[Read more]

Hi Richard
My broker is concerned about my exposure as far as morgage insurance goes.

I started off with Resi H/L (lo doc) about 5 years ago using my PPROP and with this lender accessed close to $700,000. She feels that we need to watch this. What are your thoughts.

I recently changed brokers so I am not sure what to make of all this yet.

Also,…[Read more]