Forum Replies Created
Hi Terry, do you now use Steve’s strategy, or will you be in the future?
IT would be great to hear from people who are actually using Steve’s strategy for some time.
Regards, M
Hi Bradles C
I would say ride the big wave and research the WA market. We are experiencing amazing Capital Growth, with no signs of stopping at this point in time.
My Perth properties are just growing and the climate over here is very different from East, from posts I have read.
The largest property valuer here in Perth who has got his finger on the pulse predicts continued excellent growth – south coastal corridor, Mandurah, Rockingham, Pt Kennedy, Madora Bay, Singleton. Our south coastal properties I believe are very much undervalued, and there are plenty of opportunities for smart investor.
I am building in Bunbury at present – last year’s growth 37%. This area is experiencing biggest boom in 30 years, rents retuns great, and huge demand. My builder advised me that he has 10 people from eastern states currently in process of building.
Why wait for an opportunity, dont take my word for it – start searching the net.
Regards, Marisa[biggrin]
HI all, listening to Gavin Hegney on radio this morning – he stated that Perth market going through a second boom cycle, what do you all think?
He also believes the south-west region will experience more growth than Perth over next 12 months. I am also hoping this is the case as I am now building in south-west.
Hi Dazz, you have been spilling the beans about your great buy, now time not to be shy and tell us where in Perth Metro…. [biggrin]
Hi Wayne,
Thanks for tip, this was interesting, saw this a couple of weeks ago.
Congratulations on your recent purchase. Regards, MHi John
sorry, this is really off the topic…. and thought you may be able to shed some light on what is happening at Preston Beach.Overseas investor has spent $Ms purchasing land which will be developed, 800 home lots – joint venture with Sattery.
I was told by RE that she has stopped taking names of people wanting to purchase a shack in this area. Missed the boat again!!
Anticipated to be another Dunsborough????
What do you think?
Interested to hear from Perthians.
Regards, M
Rob, always luv your sense of humour.
But would like to know what is the most practical way to deal with this. I am sure many people with IPs have dealt with same, it really is causing me grief. Thanks
[biggrin]
Let’s get real,
Visit PI or SS and you will read many posts which provide meaningless information – regardless.Dont we all sift through the posts and from time to time find something useful?
If you are not interested…. I say, just tune out.
Hi Paul
With your equity and I see you are from WA I would continue purchasing. There is still ongoing potential for Capital Gains in Perth and South West area.
Regards Marisa
Hi all
spoke to my broker today, exit fee ST George $300 which is fine.Asked about a better interest rate. Apparently because land a house package, some lo doc lenders will only provide money when at lock up stage and he stated it was difficult to find a better lo doc product for this scenario???????
Have any of you had similiar experience for L&H set up??
Regards, M[biggrin]
Hi Guys,
Thanks for all the great feedback. I am waiting on further clarification with a couple of the issues you mentioned in posts.These are the rates I was quoted:
St George
Variable rate – 7.32%
1 year fixed rate – 6.94%
3 year fixed rate – 6.89%
5 year fixed rate – 6.99%Even if I were to go for fixed rate I was told I would be charged the interest for total loan amount ($300,000), regardless of our much money I draw down.
This is not the case with variable, I only pay interest on money drawn down. I will be paying builder in form of progress claims and drawing down as required.
Also I do not want to take out morgage insurance so I will be going under 60% LVR.
Any thoughts on this?
Many thanks for all your advice.
Regards, Marisa
Hey, this is getting a little boring, same stuff.
You all need to come and investigate Perth RE market, different story here.
Some have wised up.
Hi Redwing
BEST MOVE –
My best move was buying the property I live in. We purchased 12 years ago for $185,000 and with reno it is now worth close of $1M. This allowed us to purchase additional properties.WORST/DISASTEROUS MOVE
Not doing my homework/research adequately and purchasing an IP in the wrong location.KEY ADVICE
I believe research is the key and understanding particular areas on a micro level is important. If you do not understand the data ask people who do.Read books and learn about various strategies and go with what works for you/your situation. Dont fear changing strategies to continue investing, and always make sure that whatever you do the figures stack up.
BEST READ –
My all time favourite book – Jan Somers.
She inspired me to get started.
I have read many others, but her books simply stand out for me.Hi there,
I also find Residex the best.
However we also get reports from local papers which provide useful comprehesive info.
Last report dated 27 Feb 2005 was excellent and I can give you a brief overview on report regarding Regional and CG over 12 month period.
Augusta-Harvey (All increase over 12 month change)
Augusta – 33.3%
Boyup Brook – 35.1%
Bridgetown – 15%
Bunbury – 20.6%
Busselton – 33.5%
Capel – 18.5%
Collie – 16.9%
Cowaramup -3.4%
Donnybrook – 19%
Dunsborough – 40.4%
Harvey – 26.2%Manjimup – Mount Barker (all increases over 12 month change)
Manjimup – 16.7%
Margaret River – 20.3%
Walpole – 9.0%
Albany – 8.9%
Denmark – 28.4%
Kojonup – 9.8%
Mount Barker – 28.9%Waroona – (all increases over 12 month period)
Coodanup – 15.4%
Dawesville – 2.8%
Dudley Park – 14.6%
Falcon – 14.5%
Greensfields – 13.9%
Halls Head – 12.3%
Mandurah – 8.9%
Meadow Springs – 16.4%
Pinjarra – 9.4%
Ravenswood – 36.1%
San Remo – 12.5%
Silver Sands – 14.2
Wannanup – 6.5%
Waroona – 16.9MID-WEST TOWNS (all increases over 12 month period)
Dongara/Denison 25.9%
Kalbarri 17.2%
Geraldton/Greenough 9.2%GOLDFIELD TOWNS (all increases over 12 month period)
Hopetown – 35.7%
Kambalda – 10.3%
Kalgoorlie/Boulder 8.6%WHEATBELT SUBURBS (all increases over 12 month period)
Guilderton – 37%
Lancelin – 17.6%
Cervantes – 13.6%GASCOYE TOWNS (all increases over 12 month period)
Exmouth – 34%
Carnarvon – 28.3%PIBBARA TOWNS – top 3 over 12 month period
Newman – 42.1%
Onslow – 10%
Karratha/Dampier 5.8%If you would like data for 5 year period I can also provide this. Many still providing great CG.
Regards, M[biggrin]
PS
If you happen to be interested in Mandurah, interesting article in latest API magazine.suzieq, congratulations on your Northam property. Great stuff.
I am actually building in the south west, Dalyellup Beach Estate(Bunbury).
Rental returns are brilliant compared to Perth market and with depreciation it is costing very little to keep. We were fortunate enough to buy a block with title – as someone’s finance fell over.
I believe still plenty of growth in this area. Also there is huge rental demand.
Cheers, M[biggrin]
Hi Derek, thanks for very informative post.
Do the Investors Club provide details on amount of equity required for this system to work today. I would be interested in this info.
Regards, M
Hi centralian
I went to one of their seminars/talks which a friend recommended a few months ago now.
They have been in business some 25 years mainly unit developments and last 3 years have been involved in land & house packages in areas such as Canningvale, Merriwa.
I can not comment about whether they are a good company to deal with, though I have not heard any negative reports.
However, I had designs/plans emailed and costings. Considering the size homes they were building – I thought their packages were expensive and I did not consider these good deals.
I always get nervous when they like to tell you that you will be purchasing at “wholesale” prices.
Regards, MHey Westan
Hope you all enjoy the USA and keep us informed on what is happening, I am sure you will.I lived in Washington DC for some time had the best time.
Good luck
Cheers, MThanx John, I have asked for referrals and will see. Keep everything crossed.
Cheers, MHi John
I have been told from Representative at Ventura homes that in South West are only taking 12 months in total, this includes paperwork.
Stated that they dont take on more than 15 homes per month in this region.Do I need to be concerned???
Regards, M
Hi Redwing
That dam ‘comfort zone’ always gets in the way.
I guess though there are many people out there who could not get their head around purchasing more than 1 IP, let alone commercial/industrial properties.
[biggrin]
