Forum Replies Created
I haven’t had any experience with DOH but I would consider $5 rent increase every 6months and a clause to be able to access the property for development. (surveying, council approval, etc). If possible sign up for 2 years and then it will give you more flexibility if rent has risen heaps and with development. Then you may be able to consider another contract with them. I’d go ahead if you want to set and forget, but if you want to be more involved with this investment it might not be the best option.
I would also talk to the local council and see what their plans are for the future. They may have an idea of future zoning changes and give you an indication of residents attitudes towards you increasing density or subdividing.
Hi Dee Dee. If your referring to your Shoalwater property there is many plans for the future of Rockingham and when the development starts, workers will be looking for accomodation which will push rents up. It’s all supply and demand so past history may not be the best indication. I’ve found the first 2 yrs are hard financially but then it gets easier. There is also a best time in the year to achieve higher rent (more demand – people wanting to settle for new year). Speak to your property manager to find out best month. I think I was told December but can’t remember so please let me know when you find out!!!! You can relax, in another 10 years your going to be REALLY happy you’ve held on.
Thanks for your votes. Looks like painting wins!
Intention is to sell in a couple of years. Probably not worth doing extensions. The way the house is built you can’t even see the roof so it doesn’t deter renters.
I was considering purchasing in Tasmania late last year (Burnie area) and noticed that councils are doing investigations into effects of global warmining before considering waterfront development. Regards Linda
Population is increasing the most in Brisbane and Perth so that's where I'd be looking. Maybe you need to do more research.
I think your on the right track. Especially is IP has increased by $20000 so quickly. Negative gearing is OK as long as you have good growth. The first 2 years are the hardest but as rents rise it gets easier. Best wishes. Millions (almost)
You can also purchase bond and tenancy forms from newsagency. http://www.propertydivas.com.au also have some forms you can download. Regards Linda
I agree, slow speed in last few weeks is really frustrating!!!!!
It might be a good time to buy. Maybe flow on effect of increases in inner city prices hasn’t hit these suburbs yet. With Brisbane’s high migration/immigration and the resources boom I expect it to continue going up. Bris prices look cheap compared to Perth and has a similar lifestyle. I think it will do a bit of a catch-up. Bris has also got a good rental return and lower management fees and stamp duty, compared to some other capital cities which will lure investors. Cheers.
I think Dianella is an excellent suburb and worth holding onto. I’ve often thought area is undervalued. I live in Morley so I know area. I know a lot of councils are increasing density of zoning in places within walking distance to trains in next few years. I’m sure eventually all blocks over 800m2 will be sub-dividable. Take a look at renovation of a 1960’s house in Perth at stories in propertydivas website. I wouldn’t recommend my accountant as I’ve only used them for 1 year. Do a search (under “Forums” above) for good accountants in Perth. Good Luck with it. Regards, Linda
What suburb are you in and is it close to train?
Thanks all for replies and advice. How/where do you get shipping containers from? Regards, Linda
Dear Richard, thanks heaps on your advice re: $8000 deposit on contract for purchasing Brisbane property. You saved me from having to come up with this money 4 wks before settlement. The selling agent tried to make me feel stupid for asking to only pay $1000 deposit but because of your help plus other forumites I stuck to my guns. So THANKS HEAPS to everyone who contributes on this forum as you’ve been great support!! And thanks to Steve also for having this website. Regards Linda [biggrin]
LindaJust amend the contract initial the change and post it back.
Once the Vendor signs the Contract and the Selling Agents has received the deposit, he dates and executes the document.If buying Qld make sure that you do not terminate under the “Cooling Off” clause and check that your finance & building inspection clauses are realistic.
Many Qld Vendors are now not extending these dates and placing the properties back on the market at a higher price.
Spoke to clients last night from Victoria who were not aware of the Qld process. We are a little different to others.
Cheers
Richard Taylor
Residential & Commercial Finance Broker.
Licensed Financial Planner. Ph: 07 3720 1888
[email protected]
New 100% Shared Equity scheme coming soon – Email us for details.Thanks for reply Kum Yin. I’ve checked with council already. They are supportive of street front blocks but not battleaxe. I am running out of cashflow to continue investing so thats why I’m thinking of selling a property. Eventually I would also like to own all newer properties and offload the old (unless the old are on large blocks). Good luck with your investing also. Regards Linda
I agree Ritchie77 – Follow the water. Don, I think Margaret Lomas invests in Woodridge. People that live in Woodridge love it but the rest of Bris hate it. You’d have to pretty select with your tenants. Ther’s probably better areas a bit further south. Regards Linda
Maybe I should turn it into a caravan park/ camping area for bird lovers. [confused2]
Trees is in corner of property. Pool would be tto much maintenance. So far it’s looking like fencing off back section and getting a couple of sheep. I also really like idea of horse that is totally looked after by owners to boost my cashflow. Thanks for everyones replies and ideas! We’ll let you know how it goes. Regards Linda.
Yes Richard, my parents are self funded retirees and neither of us have trusts. I don’t know much about lodoc/nodoc. Do I have to put in a large deposit? Are they something you can do and then refinance after 12 months for a better interest rate? Would it be really costly to do? I guess you would only go for this option if you were to receive a really good return on your property?Could I borrow against other property as security and borrow 110%+interest? Does capitalised interest mean the interest on the interest amount borrowed? Am I putting myself into a really risky position doing this? Regards Linda
