HI Redwing,
this is the second time I have tried to post this reply. I am technically challenged, sorry…..

1. Never Sell.
2. Always shop around for loans, & assess
the financial climate. Lock interest rates
if necessary.
3. You guessed it!!!! dont buy a property with
a pool. Unless it happens to be the one
you live in.
4. Learn from your mistakes.
5. Always PAY for professional help, it will
cost you at the end if you try to
cut corners.
6. Pass on what you have learnt to other
people. You know, that warm fuzzy feeling you
get.

Cheers,
[biggrin]

Hi Redwing,

Some of my lessons:

1. Never SELL
2. Learn from your mistakes, and
try not to make the same mistake again.
3. Shop around for finance, and assess
whether interest rate should be fixed etc.
4. Always seek professional help where
required to reduce costly mistakes.
5. Never say never.There is always a way.
6. Pass on your knowledge, it helps
you feel good about yourself.

Hello Yarwood,

I have a few suggestions that you may be interested depending on budget, strategy etc.

I believe Midland will continue to perform well due to redevelopment. (Contact Midland Redevelopment Authority to find out more info if you are interested).

Midland has many attractive features, historical buildings, village atmosphere, cafes etc. Nearby Wineries and restaurants of the Swan Valley. Still relatively cheap area, I think median price is still under $200,000.
Also possibility of development potential, some large blocks still available.

The constant media hype surrounding Mandurah, and the commencement of railway project will keep prices soaring for a while yet… I think/I hope?

I would try Singleton, Golden Bay, these two areas are still very cheap for coastal location. Madora Bay is also excellent but a little too pricey now.

If you dont like Armadale you wont like my suggestion of WESTMINSTER AND BALGA. These are two great areas, close to city, great infrastructure, large blocks and you could purchase under $200,000 rent now, and develop later.

You could also look industrial factory units. We purchased a factory unit in Malaga 2 years ago paid $110,000 and rents at $900 per month. Relatively STRESS Free compared to residential.

Good luck

Hello Daaj,

I dont have a problem with your question. I also get curious about how many properties people on this forum own, who are the spotters etc.

We have 3 investment properties plus our own home.
One of these properties will be used for subdivision, so hopefully early next year when building demand slows down will have 4 IP.

One of our properties is a holiday home which we use all year round, this is purely so we can maintain some sanity in my life.

WHAT ABOUT YOU??

Hi Kay, cheap is OK, dont get burnt like we did make sure the painter is REGISTERED……. or else!!!!!

Hi there, currently doing the same you need zoning first and then a surveyor and finally your building quotes to find out whether it will be viable.

Also depends on your end plan, are you selling or holding. Need to look at similar properties in area what they are selling at etc.. Also beware that you do not build shoe box houses/units, as they will sell well below expectation and also harder to rent.

Drive around the area and check out other developments/builders who are actually doing the same. This will give you an idea on size etc.

Good luck

Hi there, we purchased a property, fixed interest only loan for 3 years paying interest in advance. This was on the advice of our accountant. This was purely used as a vehicle to reduce our taxable income.

This can work well, it can also work against you if your income changes for whatever reason. You may want to check this out with your accountant.

Good luck

Hello wormit, I find myself in similar situation, and asking the SAME questions.

I agree with most comments and prefer to look at long term and quality property, that I feel will give me the $ at the end of the day.

I hear the same story over here from Real estate agents that there are “LOTS OF EASTERN STATE BUYERS”, buying in Collie, areas that are dead and dead cheap etc. Anyway, just do the research. Happy hunting, good luck to all