Forum Replies Created
I've been looking on realestate.com.au since January for properies in waterford and Waterford West. I looked again tonight and there's about 1/5 of the amount of properties available. + inflation has dropped for now. Yay… No increase in interest rates for now.
FOUNDATION – NOT EVERYONE IS A CASHFLOW INVESTOR. MY PROPERTIES I PURCHASED IN PERTH 2&3 YEARS AGO WHICH WERE HEAVILY NEG GEARED HAVE JUST TURNED POSITIVE. THE RENTS HAVE ALMOST DOUBLED IN 2 YEARS. I PLAN ON PURCHASING ANOTHER PROPERTY IN PERTH SOON, BUT MY STRATEGY HAS COMPLETELY CHANGED. MOST OF MY RETURN IS IN GROWTH. yOUR STATS ARE INTERESTING THOUGH F. MILLIONS
I SECOND FOUNDATIONS THOUGHTS AND PURSEFATTENERS. PLEASE CHANGE THE FORMAT ASAP AS ITS GETTING VERY BORING AND HARD TO FOLLOW UP ON PREVIOUS ENTRIES, ETC.
Return on investment isn't very good right now. If rents increase dramatically it will bring investors back. Affordability is probably an issue for first home buyers in your areas also. Lots of investors selling now to cash in creating more choice for purchasers.
I experienced this when trying to purchase a ppor and the vendor was a solicitor. My bank came to the party and quickly gave me finance approval and we rang heaps of building inspectors and got one to agree to come out first thing in the morning. I feel vendor was trying to get us to sign the contract without "subject to being satisfied with building inspection" clause. When we could get a building inspector so quickly vendor counter-offered a redicoulous amount and pulled out. I loved the house at the time but now I'm so glad it happened. Regards Linda
http://www.prodev.com.au/investors_chapter_120.68.html Take a look at this website. Excellent spreadsheet and info. Happy retirement. Linda.
Be fussy with who you choose to occupy your property. Let tenant have a dog (to deter intruders and keep good tenant happy). Install security screens, doors and security lights. Good Luck.
I saw a documentary last week saying if your house is built on clay you need to avoid big trees near your home as they cause extensive cracking. In one of my rentals which is on clay near river I've had extensive cracking occuring in last few months. Our new tenants haven't watered the lawn all summer (and Perth summers are very dry!!!). Our 42 year old home is suffering big time. I might be saying goodbye to a huge gum tree and some tenants. Good luck with your home, hopefully it's something simple. Linda
I've just purchased a new property which showed in the Building Inspection a tree has grown above and over a gutter and needs to be trimmed. I asked the PM if he could trim it. He told me your not allowed as it is within a local council that are like the "tree police". Only a qualified arbourist is allowed to touch it, otherwise your in for a $2000 fine. The tree is actually inside a townhouse complex, not a council tree or anything significant.
L.A Aussie wrote:Being an employee is very risky; here in California there is no "unfair dismissal", no written warnings if you are bad, no union liasons or assistance, no "staff training" for repeat offenders at work. You screw up, or even if you don't; they can sack you on the spot. There is no sick pay like we have in Aus; you take holidays as days off and you only get 2 weeks holidays anyway. Now that's risky.
This sounds like the way Aus is heading. We've got to fight for our children's working conditions and rights. Regards, Linda
My thoughts also Marc. I attended a tax seminar on behalf of our company accountant 13 years ago. The speaker/accountant suggested that on retirement the baby boomers who put money into super would be paying for the baby boomers who didn't. I can see tax on super is going to increase heaps in the future. Another good reason to invest in property. Regards, Linda
Try AOK inspections, they do termite and building. Conveyancing Works Solicitors. Best Wishes, Linda
Yer it’s logical but you sound confused. Firstly, how much extra will you be able to save in next 3 years? Up to 62k? If so you are structuring it correctly. Don’t pay anything off the p&i component or variable component, just the minimum repayments. Rents will rise over next 3 yrs. Hypotheticly – Jan 2008 – $250/wk; Jan 2009 – $280/wk; Jan 2010 – $300/wk. Your property is now worth $500,000. The $100k growth in your property outweighs the interest over the past 3yrs. Your loan will start to feel less significant. after 3 years use 62k in offset account as deposit on PPOR. That way your maximising your tax deductable debt. Regards Linda
I’m still a novice but I have noticed riverfornt house and 1000sqm land in Waterford for around $400k, 4x2home. I would consider this a bargain. Reason is Waterford still has plenty of land. Is basically 1/2 way between gold coast and Bris so in another 15 years I can see it having huge growth. Great rental return. I have heard it has no public housing but haven’t actually checked. For short term growth I would look at Mt Gravatt or Mansfield. Or you cant go past Bayside suburbs. I did see a huge block in Waterford, riverfrontage on market for around $900,000 recently, i think with a 2bed home on it. If you had others wanting to invest with you it might be a good option. I think Edens Landing and Bethania nice also. Lots of rivers in these area’s and undiscovered. Also close to Mt Tamborine.
Yer I bet May is going to be the month. I’d be fixing most of my loans now if you haven’t already done so.
Thanks, i thought of that later. Have found everything I need.
Do you plan on purchasing a PPOR in future? If so I’d have an offset account, then later draw on it as a deposit for PPOR. You may have to post more details about what you are trying to achieve.
Who are you insured with so I know who to avoid? I had similar problems with a car claim. I’d be inclined to accept the money and have no more dealings unless you really want to continue like this for another year. or threaten them that you’ll tell A Current Affair, that might get them to pay up.
In WA you can find it on REIWA. Hegneys Property Valuations give growth. realestate.com.au
I asked my ins co if the rent went up do I need to advise them and they said not necessarily. Are your tenants on a periodic tenancy? I would call your ins agency and check with them what their terms are.
