Forum Replies Created
Hi Redwing
I think it is the Midland Redevelopment Authority which is involved in many ongoing projects. They can also give you an overview on what is currently on the table and future projects.
Also Time Conti is selling cottage blocks, as Jo stated trying to get this Subi Centro thing happening. Possibly specific building requirements etc. which generally means more up market housing.
I guess with the many attractive features, such as historical buildings, village atmosphere, cafes etc. Nearby Wineries (Swan Valley) and restaurants it is definately worth a look at.
Also possibility of development potential, some large blocks still available.
What I want, I cant afford unfortunately.
[biggrin]
I believe with current developments/improvements taking place at present in Midland this will affect adjoining suburbs such as Midvale and Bellevue. This is already happening.
I would only buy a house where block can be sub-divided down the track, as I feel this would provide best CG in future, (only my opinion).
You just have to look at areas like:
Balga, Westminster, Nollamara to realise that you need to look further than the people currently living in the area.Good luck[biggrin]
PS
Ausprop can probably provide more info on BellevueHi DD, good to hear from you, always enjoy reading your posts.
How are you Perth IPs going?
I am currently looking at selling one of my IPs and buying 2 in different area, looking at figures at the moment. Current rents are still very low though.
Regards, Marisa[biggrin]
PK
I’m with you come on railway.I agree esshole, here in WA we are still experiencing reasonable growth, in particular the sourthern coastal corridor.
Thats why the railway took so long, everyone thought Mandurah was full of pensioners who went crabbing all day long.[blink]
Seriously though, $800,000 for unit – $350. pw rent, that’s ridiculous. Gotta be better ways to invest that kind of money.Thanks Jo, it is only 7.46 am in Perth, what am I doing on this forum?? Have a nice day.
Thanks for publication.
This looks extremely interesting, just printed off have a good read later today. CheersHi Goldenchild, Congratulations on your investment. Curious, how old is the IP?
Golden Bay has performed extremely well like most areas on this coastal strip. From what experts say it will just keep going up. Yippie.
$160 p.w. rental income, this is highly negatively geared, but pretty much normal in this current environment.
Will this commitment be a problem for further investments? Are there any ways of increasing rental income?
Hi Cruiser,
No – I doubt you would find positive in Mandurah not with the current hype. You may get close with fully managed/contained units but I have not investigated these types of properties. Most of these seem to be old and shabby.It would be interesting to hear from anyone out there who has had some success with this kind of IP.
However there are some gems out there. A beach shack recently sold on our street in Madora Bay for $340,000, (150 mtre to beach) with beach views that can no be built out. Block size 810.
On the negative the shack would only rent out for $150 per week.
Scremin,
For change of lifestyle we purchased a beach house in old part of Madora Bay. We fell in love with the place, great ocean views and the kids just cross the road and they are at the beach. Sunsets to die for. If you are into fishing/boating there are about 5 boat ramps in very close proximity – I dont know too many other places to match.
You have obviously yet to discover some of the great spots in Mandurah, San Remo, Madora, Silver Sands, Falcon, Avalon.
Also, not to mention Miami Pie shop, best pies in Oz.
[biggrin]
I once thought sight unseen with the right professional inspections would be fine until I knocked back a real lemon in regional WA.
I found out that someone from Sydney had later placed an offer on this property. Even with the right inspections they would not realise that it was in the wrong location, the design was an absolute nightmare, and try renting it.
The photos on internet looked great infact I would say the IP was a bargain.
Hi Rob
Gero – no doubt you are going to make great CG, pots of money being spent on various projects.Just wandering did you manage to get a positively geared property – none left[confused2]
RE is my passion, I luv it. I dont set a particular date/time etc to research and always read as much as possible.
Hi there,
I am currently looking at house and land packages, Pt Kennedy and Anchorage. Have been advised 12 months to build. Are you looking at holding or selling? Margins seem very slim to me…I appreciate any info you can provide and I am interested to find out what profit you made with first H&L. Also, can you advise the size of block in Pt Kennedy, Builder and why your chose this builder? PM if possible would be appreciated.
Sorry, sooooo many questions, but I have found it difficult to obtain accurate info. Best to find out from people who have gone through the process.
Regards, MarisaHi gogo,
I have also queried the same about Steve’s properties.I do not wrap properties. I do positive and negatively geared. If you are looking at positive properties, I believe this is a real challenge at present.
I am from WA….. and you may have some success with Karratha, Kalgoorlie, Merredin. But you will still need to research what is good IP and trash. Good luck.
Hi John,
from what I have heard and read building approvals in Perth have decreased and it may take 12 months but there are obvious signs of a softer market, it definately is not what it was 12 months ago??? What do you think?Zen, no need to worry about softer market if you are buying in Applecross.
However, I believe lifestyle is important. If you do not have the funds required to build right development (probably require $300,000 each unit) then what is the point.I also have young children and would not want to be living in a dump and sacrifice a comfortable lifestyle.
What about other options that wont affect your current lifestyle without adding additional stress.
Banks will treat you welllllllllllllllllllll.
Hmmm, I have a personal banker, guess what never hear from them. Oops, oh yes once a year when they annually stuff up the 2 loans. Interest in advance, seems to be a problem with them. You guessed it, one of the big 4.
Also… try fitting their criteria, impossible All of the time.
If you want to leverage and build assets whether it be shares, RE, business you need a Smart Broker.
I feel better after that…
[biggrin]MA
this may be of interest. an article last week top 10 suburbs in Perth which were expected to outperform over the next 10 years. Reasons such as proximity to beach, developments, new railway etc.
Top of my head some included:Queens Park
Rockingham
Mandurah
Coogee
Quinns ParkOn a personal level I have learnt a great deal by reading. I have never ever attended a workshop etc. and probably never will. I am not comfortable with this environment, however seems to work well for many people on the forum.
Hello Zen,
I am not sure what is happening, however no doubt there are many on this forum that can assist.I would say Perth is still going North (if you believe what you read – apparently 9%??), I would say definately a softer market though.
Sooooooo much spin, it can be very confusing.
I am sitting back and waiting at present. I believe that there may be some good prospects down the track.
I would suggest you look at stats where suburbs have performed well over a 10 year period. Also new properties where you can claim depreciation may be worth a look at if figures attractive.
Besides there is too much happening at the moment – Christmas, New Years I would rather have fun. I’m sure there will be plenty of opportunities out there in 2005.
[biggrin]
