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You should check out gumtree for cheap mature plants, found some lilly pilly's in pots 1m high for $15 ea. I'm scanning through them at the moment because we want to landscape our front garden.
Maybe the title should have been best high yield suburbs?
High yield is good, but I also like a bit of capital growth too. Theres no way I'd buy a house in balga for $400k (maybe 320-350k) when there are other good suburbs at similar prices nearby.
Actually I just had a quick look on RE.com and I couldn't find any for 400k (no 4×2) all I see is 2b and 3b fairly cheap because the govt is selling off their commission housing.. yeah you can buy $238k 2b and rent for $320pw CF+ I'd be calling property managers to see if they would take on your rental, theres not that many advertised for rent??
Hi Penpro,
Do you have an online listing with pictures maybe a floor plan? then we could give some pointers, painting everything white is a good idea but buyers nowadays are switched on to this, that sometimes all white seems too stark and uninviting. Maybe adding wall lights with directing light up to the ceiling maybe able to create a more ambience light and at a relative low cost.
A year is rather a long time, how many people have come to view your property over that time?
Hmm sounds like you have a bit of competition with 10 other units. Who are you marketing the property to? another investor, a city commuter, a student? maybe offer an extra incentive with the property like a new appliance (eg TV or Ipod dock with wireless speakers set up in living area) only if your marketing towards owner occupiers. Investors only want to see numbers and lower prices or maybe depreciative fixtures? Has anything been renovated recently?
Hi Pat,
Have u bought anywhere yet? Last year I was just about to buy an investment in Tuart hill units for $240k rented at $330 after basic reno (painting/ floorcoverings ect) I like Tuart hill you can get units in nice complexes and close commuting to city 30mins by bus.
But then our situation changed, my partner and I were currently renting and our rent went up by an extra $55 per week plus I was pregnant. I've always said investing and renting was the way to go, but I think it was the hormones (lol) plus the effort required to find another rental property in Perth is a nightmare (plus we had a dog).
So we bought in Craigie $400k 3×1, it's a fairly average suburb with a lot of older 80s homes. But the pro's is its surrounded by higher priced suburbs, 5 mins to Hillary's beach. Plus an added bonus t's on the Joondalup draft scheme to be re-zoned from R20 to R25-R-30 (basically build another townhouse at the rear) although this could take a couple of years yet to actually go through. There's also a new subdivision of land going ahead where the old school was, I think about 95 new lots being created by memory. But I have a feeling developers won't commit to this until the draft scheme has gone through. The investors have caught on because as soon as a house comes on the market here it's usually sold within that week. We bought our house prior to an open viewing. Hope my 2 cents helped, Good Luck.
Hi Emma,
this is so spooky, I just commented on another of your threads the 'perth tradies' to c if u remembered me and then just flicked over to this thread. I'm a draftie now, I've only uploaded a few projects into my portfolio (as below) but just currently building a website to find more work. Maybe we should catch up for a coffee sometime when ur free
Hi Emma (wisepearl),
how's it all going?, looks like you've been busy. It's Mel here, we caught up a couple of times, once in Geraldton I believe for coffee.
Not sure if u remember but at the time decided to quit my stressful corporate job because I was miserable… I went back to study, get qualified in a drafting diploma. Now work from home (contract to architect for renovations/developments ect) and love it!
Are u still hanging out at the same property investing group, think I might drop by to the next oneHi Bjaust,
Yes, I do think plastering would add value, you'll be surprised how much brighter the room becomes (esp painted in neutral white tones) and if your trying to sell people can easily visualise painting a different colour compared to re-plastering. Rendering internally was popular in 90s, something to think about is quiet a lot of work (sanding) is req if you decide to change your mind down the track. Although rendering could possibly be a cheaper option placing directly over bricks.
Mel
Thanks Jason, great idea about a book. I have started my portfolio online + joined twitter
http://melindamcqueen.carbonmade.com/
http://twitter.com/mmcqueen888
Thanks for all the advice guys. Next I think I will look at short business courses.
Just a question how do you find out CPI, or current market rental rates?
Hi Winzer,
I would def look at Vstar's attached outline of costs, from a previous forum page, as these costs provide everything required . How much are you budgeting for the whole subdivision? how much have you allowed for subdividing costs including water,power, gas ect services and then how much for construction of building incl. your going to need to know a rough idea before you start, because if you do get council approval it will be only vaild for certain period of time (12months approx).I realise your only at plans stage, that price seems fair. may need to ask the question what if council rejects plans is a re-submit included in whole price,? (incl amended plans ect) or is this an extra cost.?
Hi Segoh,
Firstly I love this game!! I always take it with us on holidays my boyfriend gets sick of the game after a while and I just wanna keep playing it….
ok 1. negative cashflow of $100, means u need to pay $100 every month to keep the property. Neg cashflow properties are everywhere in australia! its hard to find +ve ones. but this card can be good if you can afford to hold onto the property and sell later on when u get a good price sell card.
sister in law borrows money, basically means say good bye to your money. from memory I think theres another card that says sister in law re-pays money….but who knows when u will come across this card. same in reality really. give out what u can afford to lose.
I can't remember the brother in law card…hmm not surehaven't played it for ages, living overseas at the moment. can't wait to play it again tho. I even bought the computer game…but yes left the other CD at home arghhh..
have fun playing!
mel:)Hi AimHigher,
I have been to one of john fitzgerald seminars, which I found was ok if your plan is to buy and then use the equity and hope that property prices go up, all while using negtive equity. I find this strategy is good for tax breaks but not used as a full investment plan as there's only so many propertities you can afford if they are all neg geared.
If your going to spend $300 look at the rich dad series of books and steve mcknight and margaret lomas they all use different investing techniques which are all good to know and learn. then you really need to think about 'the end' your main goal, where u want to be? do you want to have 50 propertities and owe 15mil-that might be worth 25mil on paper. or 13 good cashflow propertities that pay you $50k a year.
If your new to learning about property investing -I would def read books first then if u want to know more about their techniques go to their seminar, then if they offer a program consider it a few months after the seminar….-yep been burnt b4
cheers mel:)Any comments about the latest email video steve just made today….there's that under supply of houses and more needed to keep up with growth rates? hehe
thought I'd throw more wood into the fire;)Oh I forgot to mention with an ideal lead time of 2weeks deliveried.
hiya all,
yes suavemechanic that company sound like a good move. more details please.To be honest I was actually looking to see how much competition there was out there to start a business. only an idea at the moment. Do you think renos like yourself would buy flat pack kitchens if they were standard size units such as 600w, 800w, 1000w, 300w ect with a choice of colours, purchase over the internet + deliveried?? with an option for units already assembled and units you have to DIY??
just an idea, or is it easier just to go to bunnings…hmm,.
Have to checked to see what the R-code is?? differing councils will decide whether 800sqm is big enough for 2 villas?? I'd be checking this before u buy. Even go into the council and discuss your plans. all too often people think this is easy building 2 homes ..but theres a lot to think about. Also check are there any easements on the property? check with the water authority where the water pipes are running ect + plus get a quotation from them for the fees there going to charge u? (approx 20k per unit.)
all this stuff could make your decision. piles are expensive and could blow your whole project. I used to work for a builder and was looking after unit developments-not the easiest projects to deal with.
mel;)Hiya Mickgem,
wow 1400m2 is a good size.
Do you have a lot of time on your hands? if u do than do the first stage which is drawing up plans + submitting to council. Prior to this meet with a council planner and go through any issues they might have. Pref get a draftsperson to do the plans -maybe consult a builder if issues arise. there are lots of issues to solve, such as services ele, water, waste, access to roads ect. It could take 12months (or longer -depending on your council + rules) to do this process. Try and do it by putting as little money down as possible. for example don't go to an architect or someone that comes up with a nice design -that doesn't work and council won't approve. Await feedback from council if it can be solved continue to get approval.Once you have approval, get some builders quotations to build the units, and decide from here…..Do you want to spend another 12months or so overseeing the project? If you have a full time job which drains you from your time now its probably not recommended, its going to be another full time job-unless you find a great builder;)
I used to work for a home builder in perth and I worked on unit developments from 1-2 unit projects to 6 unit projects. If you have any other questions please ask.
melHi Daniel,,
um just a question is melton near melbourne? why do you think it is a good area? what is the average house price?I'll give u a heads up place as well, Geraldton WA is my hometown. big things are happening here, china has put down billions on the table to build a deepwater port and predicting will be the next mining hub. houses are expensive, but land is quiet cheap could get a block for 150k or less. its on the coast and is a good lil place
could be CF+ if you built, -but this takes time doesnt. houses avg 350k + becareful of cheaper suburbs.Hi jibbah,
funnily enough I am living in London, ,over here on a working holiday and will be returning to Oz at the end of the year. I am from WA and the rules about construction differ from state to state. In WA all new houses need to be signed off by a registered builder (which requires college training and then exams plus showing examples of work-usually chippies turn into builders as such.) I know this because my partner is a chippy and is planning to start his builders reg next year.The registered builder takes full responsibility for that house structurally for 10 years, even if owners buy and sell many times. There is benefits to this as the houses are of sound quality and that means less dodgy builders out there. If there are conflicts associated to the quality of the build, it is taken to the builders reg board (like a court system) these disputes can happen frequently (-mainly due to peeved off clients about other issues). As It takes incredibly long time to build a house in WA at the moment anywhere from 12 to 18months even longer…
In a sense WA consists of about 3 or 4 major building companies and they mass produce these 'shoeboxes' I like to call them and are all just painted a different colour. Then we create this suburbia of different coloured shoeboxes! which is probably a different discussion point. my point is its usually hard to break into the business of building houses.
Yes you can get an owner builder licence, but you are restricted and no builder wants to work with an owner builder, because if the builder feels your quality isn't up to scratch they wont want to take on the job (at the end of the day their registration is on the line). I know all this because I worked at a building company for 2 years.
hope this doesn't put you off too much. haha because me and my partner are planning to do the same. I am a designer and he builds them, I think their is definitely a niche market to creating new modern designed sustainable houses of high quality and aiming towards the high bracket and building a couple of really well designed homes a year involving the client through out the process. Instead of getting as many clients to sign up as possible to build a house, tell them it will take 8 months to make and really taking 2 years to build!
Hiya,
Im currently living in london, it really depends on your budget and where you are working. Over here transport is most important, no one really owns a car in London. They rely on the tube stations, so any house near a tube line will be a good buy.
Basically there is lots of potential to purchase a positive gear house here in London, I was looking to buy to let so I have researched into it. basically there is more demand and not enough supply, its amazing different over here everyone has to house shares because its really expensive to rent a house. U see I come from small Perth and was renting a cottage with my partner for $180p/w. (haha I know I bet those days are gone now too)
Unfortunately at the moment you will find it really hard to get a loan over here. The banks invested heavily in the sub-prime sector in America so most are withdrawing mortgages off the market, to re-evaluate their position. Funny really cos when I first arrived over here within 3months of working HSBC offered me and my partner a loan-that was a year ago now. b4 the credit crunch.
But the credit crunch could work in your favour as bargins come into the market, as it is reported a lot more repossesions will be occuring.Which area were you thinking of renting in?
could be CF+ if you built, -but this takes time doesnt. houses avg 350k + becareful of cheaper suburbs.
