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Thanks for valued replies. Regards Linda
Thanks Raddles, will call agent and negotiate. Linda
Hi all, living in Perth. Purchasing in Brisbane. Just received contracts in mail. As nothing was mentioned previously, i just assumed the deposit was $1000, as per previous purchases. On top of this they are asking for $8250 when i get Finance Approval. Do I just call RE agent and tell them I’m only paying the $1000 deposit now, and cross $8250 off contract and initial it? Any advice appreciated please. Regards Linda
Thanks for replies. Considering know one has heard of this “sought after and highly respected speaker” I’ll give it a miss. I did google a bit and am getting the feeling they could be developers sourcing investors. Regards, Linda
Letter basically says, “Finance Group Australia is pleased to invite you to our exclusive Wealth Creation Seminar. The presentation will cover many topics inc. How to create wealth for retirement, reduce your tax by 50%, why you can’t survive on the pension, positives and negs of property invest. etc….. Hosted by Mr Tony Kazzi, one of the most sought after and highly respected speakers within the Finance and Property Industry. Tony has addressed over 1 million people over last 10 years………..Held at Swan Valley Oasis Resort. Win your mortgage paid for 6 months…..Don’t forget to bring a friend…..light refreshments served after….so on. Looks like they’re begging you to come and I’ve never heard of them, unsure why they’ve contacted me. Regards, Linda
Hi Aslam, I was keen on 3x1x1 detatched villa on 407sqm but ‘under offer’ before I got chance for friends to look at it for me. I ended up making offer on a 3x2x2 with river views instead. Maybe in a few months I may consider a detached unit like what you describe but just want to see how things go for now. Thanks all for your replies.
If I were considering investing in Perth now I would attend course being held by Gavin Hegney. Theres one coming up soon so I’d look into straight away. I’ve attended a course where he was a speaker previously I found his info very rewarding. These are some of the areas I would consider. Ellenbrook – newish homes with higher rent return then most suburbs. New excellent schools and shops. Good access to Midland. Community feel. Bayswater unit near river. Close to city. Not bad value for money. Coastal near new infrastructure. Large block in some parts of Eden Hill – being rezoned this year. Ashfield large block near train – zoning will be increased in a couple of years. (I’d speak with Bassendean council first and get better ideas as to where they want to increase density). Also new land being realeased in Bassendean soon which should push prices up of existing homes also. But I’m sure there is heaps of areas that should do OK in next 6years and recommend at this stage in life to get professional advice first.
Thanks for your valued advice. Cheers Linda
I’d consider buying another 1 in an area that is currently growing. High population growth, but affordable suburb. Maybe another state? Regards Linda
From my experience I have found some people don’t mind main roads and noise. Many times I’ve thought “what a bad place to build, so close to freeway or airport”. Then I’ve seen properties developed and sold for premium price. I saw this happen in Brisbane in Greenslopes 8 years ago with properties built right on the barrier. If in popular location I’d consider the house with sub-dividable land. I have a friend that lives in Perth in Guildford and every 20mins you hear a train or plain and she loves all the noise, feels like she’s part of the action. Plus the conveinience. Regards Linda
Yer, thats what I’m thinking! Thanks.
Hi The Contrarian, I’ve been looking around Waterford recently. You can purchase 3x2x2 units 94sqm with river views Albert River for $190000. Rent $240. 30 mins Gold Coast/Brisbane. I’d rather the Spring Hill studio though. Predicted by government population in nearby Beaudesert will more than double in 20yrs. 65000 population now. Heaps of jobs being created in Bromelton (4500+). Do your own research though. I’m still researching. Linda
Hi Dee, I think you can’t go wrong with coastal property and large blocks. I went to Shoalwater last year and fell in love with the area and think it has heaps of potential. Next boom I think you shall do REALLY well out of it. I’d suggest you get advice from Hegney’s Property Valuations. I’ve never actually used them but had a couple of friends use them in Bassendean area. They can give you a before and after valuation on renovations to justify if it is worth spending the money. They have valuers that specialise in different suburbs of Perth. They should also have a better idea of sub-division potential in future, and future growth. I’ve attended a group with Gavin Hegney years ago and found his info very valuable. He has a website too that has some information that may be useful too. Regars, Linda
I had applicants that lied on their application. They kept telling me they had two little fluffy dogs as pets (which were really StaffyxBoxers). The Male applicant told me he half owned a unit with his mum where he previously rented (when I spoke to her she said she owned it solely) His girlfriend said she worked in her current occupation for 6 months when it was only 3. Every other reference stacked up really well though. Other than the lies they both had good references from their employers. To cut a long story short they moved into my IP for 1 day, then moved out again. (they must have gotten a better offer from another house they applied for). They took us to court and told the judge our house wasn’t liveable. Also said we didn’t give them their bond back. (We had the bank receipt which we could prove we had). It taught me a big lesson. Listen to you instincts. Your usally right. A better tenant will apply next week. I could tell you another story about an applicant that lied that is a beauty also. A couple of things the applicants said didn’t match up. When I researched further found they had been evicted from residence and living with friends. (But on their application put the friends name as their current landlord) When I questioned the lady if she’d made an error who her landlord was she said, “I’m on my mobile and driving so I’ve got to go” and I never heard from her again. I wouldn’t touch it…. Regards, Linda
Thanks Milly, I’ve been looking at RE in different parts of Aus in past few months and looks like Bris may be a winner. Regards, Linda
Thanks heaps for your replies.
Smarter Property Improvement by Peter Cerexhe has some interesting ideas which I think would suit your circumstances. It is about improving properties and development planning. Regards, Linda
Thanks, I’ll keep that in mind. I received your newsletter today too and found it quite interesting.
I’ve come across this also in Perth. What sometimes works is to purchase a corner block. All the best, Linda
Yer, it makes sense to me. One of the reasons that I’m a bit reserved to buy positive cash flow is because I want to eventually develop a block that I own already so I really need growth assets to raise some more funds. So far I haven’t found any properties that show good signs of growth and positive cash flow. Especially living in Perth and it’s too hard to add value to a place in another state. If your neg geared property is going up in value by $50,000/year and costing you $10,000/year you are effectively earning $40,000/year. The growth is also compounding.
