Forum Replies Created
Hi Kum
Jason Hughes at Fleurieu Realty in Normanville is the man to speak to. Sorry don't have his No check it out on realestate.com
Cheers
MikeyCheckout the BHP web site for the MASSIVE expansion at Olympic Dam at Roxby Downs.
Adelaide is still way under priced compared with else where. The lack of infastructure in the city ie sewer and especially water is going to make it very expensive to develop more land to cope with any significant population growth. Growth is happening there, you can still buying blocks with ocean views within 90 min drive of the Rundle mall for $59,900!!!! at Cape Jervis. Kangaroo Island sea side blocks from about $60,000 way, way below replacement cost. Water front lots at Hindmarsh Island for about $150,000.
It all comes down to replacement cost if you can't sell 'em for what it costs to produce with a bit of profit then no one will develop it stands to reason. Add to this increase demand, surely prices will rise to the point of replacement.
This is my opinion only I am not endorsing these towns in SA, but I am investing there quite heavily at the moment…..Good luck!
Mikey PHi
Would say CF+ in Perth would be a tough ask. last time i spoke to someone in the "know" from the Real Estate institute investors were happy @2% return!!
for fear of sounding like a stuck record checkout the goldfields especially Kalgoorlie and Kambalda. Rents in both these places are around 8%-12%. Capital growth in the last two years has been fantastic as well. I have been investing there for a couple of years and have made huge money. i am not endorsing the goldfields do your own research every investment is a risk…..but he/she who dares…………I'm sure you get my drift!!!!!!!!!!!
cheers
Mikey PG'Day
Buy your partner a copy of "rich dad poor dad" and "Cashflow quadrant" tell them to read those books and if they still are unsure……………………………?????????????????????? That's how I educated my wife. Good luck.
Mikey PGuys
I reckon you're spot on.
Anything around sellicks south is unbelievable value. Don't be scared of Myponga, Normanville or even second valley all worth a look beachside towns all within an hour of CBD Adelaide and well below repacement cost "on what could be the eve of the SA real estate boom".
I am not endorsing these places but I am investing in Myponga at present. "The saddest words of tounge or pen are it might have been"
Mikey PGetting there 8 ferries per day 8 flights go there per day. All services are there. Major commerce centre is Kingscote population over 2000. penneshaw pub is being renovated $2m on internal only. kerry Stokes and james packer have land there also. Vivonne beach was voted the best beach in australia.
mikey pDom
Take a look at the previous posts i have done on Kambalda.
A new development in Kambalda that's only 48 hours old is that there is 450 new people coming into town in 5 weeks or so. The plan was to put around 400 donga types around town. This was passed by shire…..check the Coolgardie shire minutes from June. They expect 10% (45 families) to go residential, there is only 10 or so rentals left currently and only 20 or so houses for sale. This alone will put huge pressure on the housing market. HOWEVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Western power is now saying the grid is not big enough to cope with the new $17m rec centre and the extra rooms creating a Bethlehem situation. I have been investing there for 2 years and have made millions. This next wave should be the biggest. Check it out. This place just keeps getting better and better. Kangaroo Island is just as good.
I am investing in Kambalda and Kangaroo Island I am certainly not endorsing the above places do your own research……..
"The saddest words of tonuge or pen ar it might have been"Regards
MikeyI went to SA last week. Thought I'd go across to the Island. What fantastic real estate!!!
There are alot of investors there buying at the moment. Ask the agents on the island. I bought some more land there as well….interesting place to say the least.
Cheers
Mikey PGreat post!!!!!!!!!!!!!!!
Love it……
Keep going it's very inspirational. It's great to see we are all on the way to the top.
Cheers
Mikey PSorry forgot to add i will be off to South Australia on 27th July for 4 days to buy some Real Estate with 8 other investors. We've done our homework there and I'm as excited about that place as much as Kambalda. I will post any findings when I get back.
Cheers
Mikey POnly one thing standing between you and making a profit on any real estate is time!!!!!!!!!!
Guys Guys
As Xenia has been pointing out……………………………………Adelaide, Adelaide, Adelaide. Take a look I'm in shock!!!!!!!!!!!!!!
Mikey P
I'm going to buy a few there and that's from a WA convert that's made a bit over the last decade in Perth..Xenia
Wow…….thanks for that. I have read some comments from your previous posts. Man can't wait to get back to SA. I reckon i'm sold on your town!!!!
Stay lucky
Mikey PG'Day
I agree agents fees are way too high if they only sell the property for what it's worth. On the other hand if they sell it for a premium that more than covers their commission everyones on a win. I had this discussion with an agent a few years ago and that's what he said…it made sense to me. I'll pay good agents what they want (within reason of course), and not so good ones I'll still pay without negioating but I'll never do business with them again. I would sooner not deal with an agent that does negioate their fees…cause I'm employing them to do a job for me. Agents with 5 years + experience who earn huge money are the one's I look for!!!! My opinion only as a reformed (ex) agent circa 1991.
Mikey PHi devo7
My method is look for real estate that's for sale at well below replacement value in an area that's tipped for industrial expansions. It means logging on to the asx site daily and reading the announcements. Seems to have worked for me.
Somewhere some place is just about to encounter a growth phase.
Stay lucky
Mikey P
Hi Jonathan
Given stamp duty and re sale charges you would need at least 10% to breakeven. As a Southwest investor for the last 20 years or so port boulvard was a great investment some 3 years ago now…????? who knows. If you want to increase your $$$$'s in a year or so then do you believe the block will be worth $xxxK +? You've also gotta make the repays on $350K until then, The choice is yours.I agree that it is a great area and should give capital growth over the long term, Short/medium term????? who knows?? My opinion only. I invest in the southwest but I am not endorsing the area in anyway.
Mikey P
Hey LA Aussie
If you're in Kal and investing you must have made multi millions!!!!!!!!!!!!!!!!!!!!!!! Good on ya! The good thing is it's only just started. My brother-in-law is in the know as he runs the HR department in one of the "richest and biggest miners" in the goldfields, that's where i get my info from. If we were dealing in shares the word "insider trading" might pop up, however Real Estate doesn't suffer in the same vain (thank goodness). Ya gotta be in it to win it! In 3 months time no doubt people will be saying gee's I read something about that place on a web site. I am not endorsing Kambalda but I am investing there currently and making $$$$$'s
Mikey pHi
I own a few up there. I purchased some more over the last week or so. I have held property there for the last 18 months. The place is starting to really boom. It has doubled in the last few months and (although I cannot guarantee it) looks like doing the same in the next 6 months due to supply and demand. There are very few rentals left and there are 6 new mines opening up during the next 3 months. Rental vacancy in Kalgoorlie is running at less than 1%.
It is a risky place to invest (long term) but worth a look in the short to meduim term.
Mikey PDeanna
That sounds very very interesting.
Not only for Kambalda but for other remote locations.
Tell us more!!!
MikeyWith the price of Nickel hoovering around $40,000US/t at present and investments in Kambalda showing @ 8% return and capital growth/rental returns rising rapidly due to the availablity of long term mining leases on good housing in town, I am sure glad I invested over there!!!!!!!!!! There still looks like there is a huge up side to come. Shares in Sally Malay and mincor have sky rocketed. I love it!!!
Cheers
Mikey
