Forum Replies Created
thanks for replies everyone. I personally hope they all go on to make $2M +++.
Will do a Map group search to find out more info.Del, buying positively geared props increases income, however, from what I have read the banks only take XX% of the rental income into account.
[strum]
Terrace in Paddington, …… must have cost squillions?
All the best. Cheers, Marisa[biggrin]Hi Melbear, no tenant, however high demand for rental properties in this region + additional bonus coming my way approximately 500 employees will require rental properties shortly….
Yippie…… What a show off I am, I have a good reason, my first +ve geared IP.
How about you??? any good news to share…..[biggrin]
Hi There,
Agree with DD, still good buys out there –
just been advised that my offer on an IP has been accepted – $25,000, major regional town. Rent $100-110. The property requires about $5,000 to replace carpet and quick make over job.[exhappy]
Thanks Kay, I’ll try this now…[exhappy]
MarisaHi Homer
I found chating to the locals was helpful. If you could possibly stay a weekend this would be great. Get a feel for the area.
Also Shire Council, they usually have a package which includes stats, details on area, what services are in the town, local businesses, Gvt Departments, Banks etc. You could contact a local business person in the area.
I also subscribed to newspaper, this could give you a little more info on what in happening etc.
Could contact a few real estate agents that service town and ask same questions, see if you get the same answers?
Good LuckCheers [biggrin]
OK, thanks for Help
Cheers.[biggrin]
Tip
Try to avoid buying an IP with swimming pool. If you must…. get a pool inspection.
[strum]It sounds like a few of us have had similar problems. I had an IP vacant for 3 months, it was the neighbours who scared everyone away. Silly me, I never noticed them when I purchased the IP.
Finally had to reduce the rent and fortunately neighbours shifted and have managed to crawl back with rent.
I notice some adds here in WA where landlords offering 1-2 weeks free rent….oouch..[eh]
No cant let it die just yet… Stinking, sinking stumps… I am about to buy an IP that has two stumps which require replacement. Was quoted $75.00 per stump.
I know nothing about stumps, but as far as I am concerned when it comes to structural issues with houses, this takes priorty over everything.
Cheers[biggrin]Dont forget South[biggrin]
Hi LA
if you are thinking about spending $500,000 on a block with no return, but expecting great capital growth, which you will surely get in Mindarie.Why not consider other coastal areas, which have great capital growth potential, but have the additional bonus of a house giving you a rental return NOW…. Seems to make alot more sense. You may be lucky enough to be able to buy 2 coastal IPs.
Try North and South Coastal strip, plenty to pick from. [biggrin]
Hi AusProp, agree, 1 day prior to sale, we were driving along that strip enjoying the scenery and I mentally thought you would pay maybe $1 million for this location. I definately missed the mark.
There are also some real gems down Rockingham way, Shoal Water, Palm Beach, Safety Bay I believe are undervalued.
Cheers. [exhappy]Thanks kay henry,
there must be at least 1 article per month in our local papers (West Australian/Sunday Times), perhaps even more regarding soaring Mandurah prices.
Block with shack sold 2 weeks ago (6 unit development) Mandurah for 2.4 Million, prices unheard of for this area. But there is no stopping it, it will be interesting to see what prices achieve in 6 months time….[strum]thanks Kay Henry & kp, sometimes the figures look good, I must admit though since using Jaffasoft calc., you get a clearer picture and what I thought sometimes was positive turns out to be negative. Cheers
[exhappy]Thanks everyone for advice, very helpful.
I actually did not go ahead with this IP, and will not deal with the agent,he was extremely rude when I would not go ahead with the deal.
Am about to place offer on another IP with a different agent, who is happy to put forward my offer.[biggrin]
Hi there,
I’m one of the many people kicking themselves for not buying in Geraldton.Researched it 12 months ago…. never liked Geraldton. As many people from Perth would say, one of the places you drive past on your way to Kalbarri but never stop there. Mistake…
Trying to look outside the square now.
[exhappy]Thanks everyone for your great advice. I know the owner owns the petrol station (2 in town). However, as C@34 stated dont want to cut my nose despite my face .
Derek, understand reservations as new strategy for me. However, I believe this is a prosperous town with lots of potential and will give it a go.
Funny, I met the neighbour, nice old guy who told me about the 500 houses that a particular mining co was building across the road, shopping centre. etc. Anyway none was true.
Its great to talk to the locals, however you have to try to work out what is fact and what is fiction. Not to mention the conflicting information. Very Helpful NOT.
All in a days work.[eh]I will be putting an offer on for $45,000 to hell with it. If it is rejected will actually go up and stay for a weekend with family and really have a good look around.
Cheers.Hi All,
Agree, get the best quote…interesting it was Statewide in Bassendean who quoted $7000, this would be to remove the lot, trees etc. A very basic small brick and tile home including carport.
I was advised that it would cost less than $7,000 if your house had signiticant features, ie leadlight windows, fireplaces etc.
I dont think there would be too many people bowling these homes down though.
[exhappy]Jaffasoft,
good idea, but what happens if someone gets hurt on your property while removing part of the house. Businesses have appropriate insurance in place.
Compensation/legal aspects?? Just a thought, Dont want it costing Wayne his block[confused2]
