Forum Replies Created
thanks Chan for your contribution.
Always can reply on you not being too specific…. (no offence intended).
Never mind ….. better luck next time.PS
Did you read the posts where you have been “missed”…..thank you both for your generous information.
I am always looking at options.We have used the conventional todate with all our props and this has worked out well to date.
I am aware of low doc loans but did not really want to go this way. Though I stand corrected but this seems very popular….
From our company figures it looks like we would possibly be able to use conventional means next financial year.
Cheers.Hi there, one of my first questions is obvious “how much does it rent for” …. guess what, no brownie points here… they dont know. Why is this? I never depend on anyone giving me advice in particular when it comes to rental retun you can bet your bottom dollar it will be a load of W123, excuse the french!!!!
OK Spodge, very interesting but will the next 3 or 4 be positively geared, very interested in answer. I am guessing NO….. and if YES, where exactly….?????????
Hi Monopoly
I have purchased in “ex-housing commission ” area in Perth.
Have had minimal problems with renting out infact have had excellent clients and always rented. Have had phenominal capital growth, better still. I have my eye on others now.
I am surprised with RE comments. As there has been great media hype (in Perth anyway) regarding the benefits of these kinds of property.I just wish I was smarter to have recognised this much earlier.
I agree, same debates -ve versus +ve etc but I still see some very interesting posts which I enjoy reading. One recently comes to mind from AFLOAT regarding UK investment property.
Personally coming from the angle of being relatively new to forum I have found it quite interesting. Some of the other forums may be broader in content but I enjoy the warmth of this forum.
Thanks. TROJAN F&*&@#* GONE……..
Had to reformat – up till 3.30 am –thanks, unfortuately had to reformat….. bugger
Jsandso
Holiday homes – depending where the Holiday home is will deterimine to a degree the vacancy rate and rental income. Holiday homes can be rented on a short term basis say (3 months) which is usually rented at a cheaper rate.
If well located/decked out holiday home, views etc. as stated – can be rented to Executives for short-term period. Once again depends where the property is.
Our holiday home (Madora Bay) if rented locally we have been advised would probably be rented for 8-10 weeks tops each year (peak holiday periods) and from what we have observed in the area I would say this is correct. This would be at around $200 per night.
You mention wanting to rent for at least 55-65% of the year, I think this would be possible but you would probably need to look at not just holiday periods (peak rates) but also short term rentals at a cheaper rate.You would also need to be very proactive with advertising etc. Its a very competitive market, but having ocean view will help.
We also found that this is not a market that local real estate agencies are interested in, there is only one agency we found who managed holiday/short term rentals. Very expensive rate 16%+
We have a friend who rents his holiday home in Madora Bay and he gave up on the agent and rents and advertises himself. He has rented to Alcoa Executives and this has worked out well for him.If the property is not clean when vacated it generally comes out of the bond money.
For a small fee you can also advertise via the Tourism Commission.
The positives to having a holiday home if well located, ocean views etc. you are bound to have great capital growth, and if not rented you get a holiday… not a bad deal.
[biggrin]
I hope this provides some helpPS
Make sure you get the pool inspected. Dont want a dud.Jsandso
Holiday homes – depending where the Holiday home is will deterimine to a degree the vacancy rate and rental income. Holiday homes can be rented on a short term basis say (3 months) which is usually rented at a cheaper rate, often winter.
If well located/decked out holiday home, views etc. as stated – can be rented to Executives for short-term period, ie ALCOA (if Mandurah area). Once again depends where the property is.
Our holiday home (Madora Bay) if rented locally we have been advised would probably be rented for 8-10 weeks tops each year (peak holiday periods) and from what we have observed in the area I would say this is correct. This would be at around $200 per night.
You mention wanting to rent for at least 55-65% of the year, I think this would be possible but you would probably need to look at not just holiday periods (peak rates) but also short term rentals.You would also need to be very proactive with advertising etc. Its a very competitive market, but having ocean view will help.
We also found that this is not a market that local real estate agencies are interested in, there is only one agency we found who managed holiday/short term rentals. Very expensive rate 16%+
We have a friend who rents his holiday home in Madora Bay and he gave up on the agent and rents and advertises himself. He has rented to Alcoa and this has worked out well for him.[biggrin] If the property is not clean it generally comes out of the bond money.
For a small fee you can also advertise via the Tourism Commission.
The positives to having a holiday home if well located, ocean views etc. you are bound to have great capital growth, and if not rented you get a holiday… not a bad deal.
[biggrin]
I hope this provides some helpHi there,
can you provide more info, where is the holiday home?thanks Mini and Westan I always appreciate all the info you provide.
depreciator, thanks for reply, not worth ending up in hot water. Cheers[blink]
apologies Purplekiss, NOT MANTLE PIECE.
Still stands, the 2 places I recommended have lots of goodies. Probably Statewide as a larger selection, though the other is cheaper generally.Hi Purplekiss
Try Statewide Salvage, Bassendean for the fire surround. I have picked up some great pieces here.I recently purchased a fire surround from Diggers and Truckers in Stubbs Terrace, Shenton Pk (1 month ago)for $260.00 would you believe in excellent condition! Lightly rubbed it back, came up a treat, it is now in my bedroom.
Good luckSorry Minimogul forgot to add …….read one of Muppet’s post where he mentioned PM fees of 10% +GST, CRICHEY…….. Is that average going rate for NZ…..
How is a potential NZ investor to break even, let alone make any money.thanks for reply Minimogul, but it doesn’t sound like there are too many of those around??
Thank you for replies, I am now focussing on +ve props and this is very helpful. CHeers
Hi Rusty
Derek is always on the ball..
I pay 7.5% + GST am in Perth. I actually thought this was OK compared to what I have been quoted. I guess at the end of the day I dont mind if I pay a little extra if I get top PM.Derek and Scott
Many thanks for advice. Looks like it will remain a holiday home for now anyway.Rob,
Thanks for your reply.
$10,000 covers all expenses the loan, rates, maintenance etc. on property. Loan is approx. $120,000, however this changes all the time as it is an equity line and we try to reduce loan whenever possible and property was last valued at $350,000.
