[MillyMember@millyJoin Date: 2004Post Count: 288]

December 25, 2007 - 6:19 pm

oh i forgot to say you can get all the relevent documents online, download them and print them out. I know here in queensland I can go to the RTA site to get the forms.
There is also thelandlord.com.au which has the forms for each state plus other interesting stuff but you have to pay for it.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 25, 2007 - 6:11 pm

sorry to hear your very common story. I was in a similar situation and handed it over to an agent. Does your dad know that agent fees are tax deductable? anyway I still manage a couple of properties where the tennants are a dream.

You simply MUST get  landlord insurance. It isn't too late. Again this is tax deductable.

Tell your tennant if he leaves within a fortnight or month and the property is in good repair, you will give him a good reference for his next property. (you can always tell the new landlord the tennant is constantly late with rent). sounds like you are being taken advantage of and so it is time to act.

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December 21, 2007 - 11:22 pm

Ya know jamo, I was just thinking perhaps it's time you jumped on the bandwagon and took advantage of the developments yourself. If you were to subdivide your block perhaps you could afford to move out of town a little further and buy 5 acres. 5 acres would be much better for riding the bikes and you would be further from neighbours.

I love my quarter acre block also but I understand that it is inevitable that surrounding neighbours will at least divide them into two. I'd hate to be boxed in by units. I hate change but you can't stop progress. I guess if I were you I'd be considering the big move.

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December 21, 2007 - 10:50 pm

Yes I was going to suggest putting the ball in the tennants  court. They broke the bracket for the rangehood….they have to fix it. How the hell could that get broken through wear and tear in two years? They have broken the door handle so they should fix it.
Get rid of the property manager. bloody hopeless.

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December 18, 2007 - 10:10 pm

You know there is such a thing is information overload where you are thrown so many ideas that you become too unsure to act.  I know someone who has gone to seminar after seminar , a shelf full of books and hasn't made a single investment.

4 years ago I jumped in totally ignorant and bought 2 properties in SEQ. Both have doubled in price but I was lucky, I didn't have a strategy in place and had no real goal, Just a vague thought of financial security for my kids and I.

I have a mix of 'money tree' CF+ and negatively geared but high growth properties.  I really believe that it is the high growth properties that are the real winners but it doesn't hurt to have a foot each side.

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December 16, 2007 - 10:21 pm

just a small point, none of these places are in Brisbane. they are all either Pine Rivers or as in north Lakes, Redclliffe shire.  I think Petrie will do less well than any place close to the Gateway. All those areas are predicted as growth areas.
I have been considering whether to invest in Murrumba downs or try to get something (probably dilapidated) in Brisbane. Brisbane has one thing that these  other places do not ie land scarcity.

I'm not one for units but  the future holds a greater percentage of aged and single people. Also  younger people and couples also want to be where the action is, so I think you can't go wrong with a unit in the CBD.
As someone else mentioned, keep the unit till you have the equity to buy in north lakes or murrumba downs or somewhere you like.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 10, 2007 - 4:22 pm

Thanks Mint man for the comments you posted. I really can't comment much but I certainly hope the price of housing does continue to  increase. Once you are in the game, you are ok , it's just getting that initial deposit.

I recall labor saying they were going to release more land and speed up the council red tape involved in developments. Of course urban sprawl isn't really the answer as then there is the infrastructure costs. But yes these houses will be more affordable but the costs in time and travel are a problem.  Higher density living must be the way of the future. People want to live closer to teh CBD and all they need is a town house. kids are glued to the play station and letting them wander to the local park by themselves is a thing of the past. More and more people are living alone. I think our capital cities will start to become more like European cities where people live on top of each other.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 5, 2007 - 9:02 pm

Well done JL!  I like your strategy. I have been telling my boys (eldest only 15) the same thing, that to get into the prop market, you buy somewhere cheap and rent it out  hopefully CF+. If they want to live in the inner city, go rent there.

Two of my nieces bought houses with huge mortgages with all the bells and whistles.They expect the same standard that their parents have worked a lifetime for.

I bought my first house on the outskirts of Bris for $43k. It was a no character 2 bedder near the railway line. I took in a border.
My parents told me their first adelaide house had no carpets and no curtains.

and btw 'capitalism' is not a dirty word . But I would probably not broadcast it among friends if you don't want to be alienated.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 3, 2007 - 8:04 am

Yes thanks for the replies.

As I mentioned, I have no problems with two other houses I manage. Perfect tennants. Problem there is I don't want to put the rent up cos I'm either too altruistic or a ruddy fool.
As I am not officially working at the moment (aside from raising 4 boys on my own and renovating my  home) I always feel I have to justify my existance and have some sort of job. So I have considered myself 'property manager' this year and really don't mind doing a few odd jobs, changing washers, replacing locks, bit of gardening. Also I don't pay tax so of course tax deductions are irrelevant.

Kippa-ring was the last place I was going to invest in earlier in the year. And I won't bore you with the details as to why except to say it involved relatives! I agreed to take over their contract when they got cold feet but the rent was $470/wk and I paid 325k about 7months ago. While some may say 7,5% return is pretty good, I'd rather stick to higher growth areas.

You know the thing that truly stuns me is the woman in the house told me she was interested in buying the house. I don't think the rent has ever been on time since they moved in.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 3, 2007 - 7:42 am

Tis an interesting thing about handshakes and I will certainly keep an eye on pictures of handshakes.(I know I know)

Even as a woman it irks me when someone gives me a limp handshake. Obviously I wouldnt want my hand strangled but a firm one shows respect., and certainly looking you in the eye. some men give "the weaker sex" that limp handshake and I find it a bit condescending or patronising. Still, it is only in recent years that men have shaken hands with women at all

Anyways for those that are curious here is a link on How to shake hands correctly.

http://www.howtodothings.com/careers/a4716-how-to-shake-hands.html

Note well the number of pumps. Any more than 3 pumps is considered awkward. hahahaha I think pumping hands is a little bit beyond my capabilities. If I like someone enough for 3 pumps, I'd give them a hug.

Sorry crashy being off topic.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 2, 2007 - 3:13 pm

Well bardon Ive no wish to continue to argue with you You seem to know what you are doing. Not simply relying on one report.

m off to get the paper now and yes I am walking.  Last Sunday I went on teh weekly pilgrimabe to get the paper in Oxford St Bulimba and guess who I bumped into coming out of the church Kevin Rudd I shook his hand as well (wet fish handshake and no eye contact by the way, not a good sign) and I was on the telly.  If I had driven I would have missed out…………………………..
hahahaha It doesnt take long to get into the swing of being a polli. Of course he isn't looking at you. He's grinning for the cameras.You don't mind being a prop if you got  your few mins of fame.

now btw way …..I would  love a property at bulimba.

and thanks hleung for pointing out my error. Of course Chermside isn't 15k's from the CBD. I tend to think in terms of time to get places. And driving and parking in the CBD takes me 15 mins from chermside.

[MillyMember@millyJoin Date: 2004Post Count: 288]

December 1, 2007 - 2:19 pm

bardon you said
"Milly, all I can say about Residex is that their forecasts have stood the test of time and they have always got it right."

I dispute that.  How do you know that? How long have you been using residex?
Those top areas may well continue to grow but not at the level that is current.
What I am saying is that ALL the best land in the world has been built on. (usually the catholic church has the best view on the highest land in town….closer to god and all that) .

I still say the figures of top performers in SEQ are skewed because those areas were farms 10  yrs ago. Of course the cap growth has been   great. But I don't believe it can be maintained.  Those top performer are all glossy new homes but you have to get in your car to get a newspaper.and petrol set to rise again. Also soon enough the houses loose that 'newness' that people love/

YOu can talk about forthcoming train lines (redcliffe have been promised it for 130yrs) and other infrastructure but have you actually seen the size of queensland? and the amount of taxpayers?  victorians can boast beautiful trains and roads throughout but gees it's not big enough to get lost in! QLD is a vast state and everyone wants a piece of the pie.  Urban sprawl is not what the gov't wants.

There has been a lot of talk about booming chermside (about 15k's out from CBD) The reason it is so popular is that so many of the properties on lots as small as 420sqm can be pulled down and replaced by four townhouses. Most chermside properties are post war so no worry about heritage listed colonials.

It's just occurred to me that residex reports predictions are for the next 5 to 8 years so Barden you are probably correct and i have wasted my time adn yours by arguing. I'm a buy and hold investor so of course I'm looking for a longer time span. So I'll stick to the older 'burbs that have stood the test of time.
milly

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 29, 2007 - 9:52 am

Yes i painted a bath using the white knight products from bunnings. Came up a treat. Why don't you save your money and give it a go.

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 20, 2007 - 3:35 am

I have been lucky enough to attend a couple of seminars for free. And I won steve mcknight's masterclass pack in a competition (but i didn't do tooo much with it cos it not my investing strategy). THere ARE different strategies out there and you have to decide which is best for you. I know a guy who has spent a fortune on seminars and books and hasn't bought a single property, cos he isn't sure which way to go. So you have to be careful of that

There is a wealth of info on this forum…….all free.  My advice would be to start with a property in your own area. YOu know your own area the best. Start putting in low offers, sooner or later you will find someone who HAS to sell

goodluck

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 19, 2007 - 4:06 am

I like Guan's predictions. Inala is a curious choice tho BUT I see where he is coming from. People DO want to live close to the CBD and land there is scarce. Inala, darra are only about 15k's to the city. These are cheap areas. Darra (not sure about inala) is on the trainline.

I don't really like murrumbah downs, like all new estates, it's full of crazy cul de sacs that I manage to get lost in every time i go there. And houses look pretty much the same.But the big thing is you can't walk to a corner shop! There are none. 

My son has friends that he meets up with from different parts of nth bris so they can visit skate parks. He gets on at sandgate, another will get on at virginia and another couple at northgate.  Now the friend in Murrumbah Downs really feels out of the social scene. No train, I guess there are busses but it makes it much harder and longer to get to the city.  Those in places like sandstone point and murrumba downs are really reliant on cars and I can't see the price of petrol going down.

oh and guan, most parts in chermside developers can put a four pack of town houses on the smallest blocks. This is what the govt is encouraging, denser living.  I still say……stick close to the CBD

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 19, 2007 - 3:38 am

Personally I prefer timber. a) because I prefer the look of it and b) because it is a damn sight easier to work with. With timber it is much easier to put in new doors or windows. You can move the walls around or  put on an extension. I dont know about other states but here in Qld it is almost impossible to find a brickie for a small job like an extension.

I guess it is a personal taste. It will also depend on the area you are looking at. What are the majority?
Also are you interested in growth or rental return? I can't see it would make much difference in either but I don't know the houses or neighbourhood you're looking at.

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 19, 2007 - 3:16 am

Yes i recall once buying a report and trying to forward it off to a friend (he didnt' put in any money and would never have bought the thing anyway but I wanted to point out a couple of things). I tried everything, copy and paste….nothing would work without the password and that is in asterisk's so you don't know what it is.

But you can print it out, which is what i have done in the past, to peruse in bed. Mind you there was something like 50 pages so if you go down that path you will want to enter in ink and paper.

And yes Neotcher I think it isbeing norty and probably illegal but frankly I think the data is extremely overpriced.  I'm sure many more of us would buy it if it was $100.

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 14, 2007 - 11:14 pm

I wonder about the residex figures.Residex makes forecasts based on statistics from historical performance. Now most of those top performers are new estates. 10 to 15 years ago most of the top performing suburbs didn't exist, it was just vacant farm land. So when developers bought those properties 10 yrs ago and developed them, of course there would be a huge profits made and thus historical data would show huge growth. Now I'm not so convinced that those high growth predictions are accurate.  So I guess I'm more inclined to stick to long established areas that have respectable but not outstanding growth. Anyone else have any ideas on t his? maybe I'm missing something.  I guess it's good to be close to the freeway like Murrumbah downs and griffin but while you can turn off to those places driving from brisbane, you have to travel inland to get back on the freeway to head north to the beaches.
Does anyone else have thoughts on this?

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 14, 2007 - 11:18 am

Hey BK
You forgot to mention the seminar is in Brisbane!

I've heard some of these guys speak and it changed my life and way of investing.
I highly recommend it.

[MillyMember@millyJoin Date: 2004Post Count: 288]

November 12, 2007 - 1:59 am

I'm in a similar situation but I own the house and grannyflat that my bro and his wife want to buy into. I have looked at it from every angle and can't see how and can be a win win situation for both parties.   They can't afford to buy the place without my help but i'm an investor and when there is growth I want to be able to access my share of the gain.

You really need to find out  your fathers goals in purchasing the unit. He shouldnt' be pressured into 'doing the right thing for his kid'. He may've considered it his nest egg to sell at a later date to become a grey nomad. He might want tennants to help pay for the thing. He might  become an invalid in his old age and has to sell the unit to afford a live in nurse. . He might want to draw down the growth to reinvest.  Frankly I can't see one financial benefit for your father other than 'helping out the kids'. I hope he doesnt get called 'MIser DAd' just cos he doesnt like teh idea.

Tell your sister to buy a house where they CAN afford in ipswich or beenleigh or somewhere. and then rent a unit in the city. SHe gets all the tax benefits of owning an investment house and by renting she wont have to maintain the thing and gets to live where she likes at a price much lower than mortgage repayments.