Forum Replies Created
Well I think you should go ahead with the reno and then refinance and use the money for a deposit on the next IP.
thats what I do.
good luck
I don’t know anything about units but I have spoken to agents in a number of areas lately about houses. Agents in areas such as Redcliffe, Sandgate, Ipswich , strathpine are all saying houses are being snapped up. People can no longer afford the inner city and anything within 12k’s under 400k is snapped up in a wink of an eye. Outer suburbs and cities of course you can buy well under 400.Ipswich you can buy under 200k.
Of course agents have their own agenda, they want to sell houses but since I have been on the lookout I have noticed the lower end market has been moving rapidly. I’d make plans for an inspection and then be told a contract was signed. Houses such as my PPOR value about 600k aren’t moving. It’s the lower end where first home buyers and confident investers (due to higher rents and stable interest rates) are back in the market.
anyways im trusting a good SEQ year.
oh i forgot . I know this great place at caboolture for paint , well it’s a hardware too with great prices.. They import a heap of american paint so it was interesting to discover what a gallon of paint looks like. Anyways they have great prices. I know how to get there just not sure of the name of the business or the name of the street but it is up past the showground. If caboolture suits you let me know and ill delve a little deeper.
try Builders Discount WarehouseU 3/ 19 Hinkler Crt Brendale 4500
ph (07) 3889 9827They have top quality bathroom and kitchens for reasonable prices.
But if you are really after bargains you cant go past the auctions.
goodluck
I usta have a totally uninterested solicitor. Often we had to arrange an extention because he wasn’t ready to settle on the due day. Lets face it, solicitors just sign the dotted line, the office plebs do the work. I ended up doing the conveyancing on one house myself to find out just what was involved. I ran around for a day hand delivering the searches to the required departments.
Now I simply use conveyancing works and had no trouble and constant feedback. Possibly if there were odd encumbrances or something I’d consider a solicitor, but for a standard house and land you’re throwing money away.
just my 2cents.
thanks for the advise. Yes i do believe the flats are teh better deal, just don’t know that I can afford them.
As for houses depreciating while land appreciats, as a general rule I agree but there will always be high demand for beautiful queenslanders with sprawling verandahs and exquisit fretwork. People want to live in them……that is until they realise the cost of upkeep and the fact that none of the windows seal properly so they tend to be draughty. Also those 10ft+ vj ceilings are a bugga to paint.
I’m not a big believer in handouts but times are tough when it comes to first house purchase.
Ive told my kids, if the they save half the deposit, I will match it. This will proove to me they are serious and can make the mortgage repayments.
hey this is great Amanda. Ive decided not to sell my ipswich properties [biggrin]
yeah it’s funny the attitude some people have. I was brought up to live on rice if I have to , but make sure i pay my bills first.
I had some tennants who were very nice but invariably late with the rent. I was getting tired of ringing them. I explained to them that every time their rent wasnt paid my monthly mortgate wasnt able to be paid and thus I was hit with a $30 late fee. I told them I would simply have to put up the rent to cover my costs in late fees.
Im in queensland too and yes the tennants pay two weeks in advance and they can get the notice to remedy breach when they have paid only one week in advance so long as taht is what is in your contract.
isn’t property managing fun?……NOT [confused2]
Well you could try Deagon. It’s pretty ordinary but still afordable. It’s about 20k’s north of the CBD, on the trainline, near moreton Bay and it doesnt have the crime rate that some cheaper ‘burbs have.
goodluck
thanks Terry
Yeah you’re right…..you couldnt get a unit under 200k. I know cos Ive been looking. Challenge the valuer to find you one.
I know both these places well. Caboolture is a lower socio-economic area with all the problems that that encompasses. There is a high demand for rentals but you may not want to live there. Tis a nasty heat there. But it is close to the freeway up to the sunshine coast.
Redcliffe is a mix of lower socio-economic and waterfront toffs. I like redcliffe, it’s cool, having water on three sides. However it doesnt have infrastructure to support its population. The water is piped there. The Houton 2 lane bridge is totally inadequate and there always seems to be a breakdown when you’re in a hurry. And yes they have been promising another bridge for the past 100 years so Ill believe it when i see it. If you choose to go with redcliffe get as close to the water as poss. If you buy in kippa ring you might as well be anywhere.
As for renos, Redcliffe would have older style houses, tho more fibro beach houses than queenslanders.
they have both been ordinary capital growth areas
goodluckthanks D, Unfortunetly I live in brisbane so cannot take you up on the offer. I’d offer free lodging for the duration but I’ m not sure that I can afford to pay anyone enough to want to stay at my house with four noisy boys.
anywhere on the northside.! YAY! [jerry]
everyone has their own personal favourites. Everywhere in SE qld experienced the last boom. Stick to areas close to the freeway that takes you to the Gold and Sunshine Coasts. You can get a bargain in outlying areas, like Redcliffe, Ipswich Pine River’s, Logan, but the proven continued capital growth is as close to teh CBD as you can get.
If I were you I’d get teh top 100 residex report on Brisbane and then research the best performers.
Gee Im glad not all the young have this attitude.
My eldest, at 14 has just got his first job at KFC. For someone so young I’m very proud that he’s already made major goals for his life.
He wants to retire by 30 (an eternity when you’re 14). He plans to save as much as he can through his parttime job and reffing his beloved basketball games. He wants to get a trade, electrician or something useful for property management. When the time comes to get a licence, a little scooter will do to get around.
Then later, when he is financially established, he wants to go to uni to become a PE teacher.
All those hours spent playing the Cashflow game has paid off. The only potential problem i can see is if some floozy turns his head! (hey but wot are mothers for if not to protect their sons [ohno2])
I have 4 sons and am certainly not expecting them all to show this kind of initiative. No 2 son’s goal is the convertible. [rolleyesanim]
What I am saying to the author of this thread is that your attitude and goals are everything. Is the cup half empty or half full?
erm……….how come you two have the same email addy? Richard are you talking to your wife here??
[blink][ohno][upsidedown][wacko]yes Terry! I wonder the same thing. I have never seen any stats on people leaving the state and I know for a fact that many southerners come up here, find it too hot and miss their families and return to Vic within a couple of years.
Perhaps the effects of global warming will cause a population boom in TAsy.
In any case the government here in Bris are planning infastructure to support a population growth so there must be something in it. As for me, I love waking up to a sunny day. It’s good for my mental health. Beats me why anyone would live in a wet miserable climate when they can have blue skies and sunshine 95% of the time.
Kuade i sent a private message to you.
regards
millyAltho I always read the forum, mostly I don’t bother signing in. Today I found a message in me privates that was 4 months old. [rolleyesanim][rolleyesanim]
I dont know where you are but Brisbane city council states you are not allowed to rent out a granny flat to a separate household group.
Now it seems illogical to me that you can rent out a room to a border but not allowed to rent out your granny flat.
That being said three of my houses have granny flats that produce higher than average rent. Actually my first granny flat went downstairs in my PPOR. The fella living there has a property portfolio but finds it much cheaper to rent as he is single. I never see this guy except when he pays his rent. [biggrin] His rent pays the kids school fees.
Two other houses with granny flats I rent out to single household groups but for a higher rent than I would normally receive. (I was a bit nervous of incurring the wrath of the council if I rented the granny flats out separately. Anyways I have found there is a real niche markets for dual living houses and people are willing to pay the extra. Don’t listen to real estate agents appraisel. Start your ad as ‘Dual Living’ and just see how much interest you get.
You wont achieve as much rent as you would if you rented them separetly but you do have peace of mind knowing you are not breaking the law and you wont have issues between conflicting tennants. To give you an idea, I just rented a house with grannyflat for 340/wk. The agents appraised it at $280/wk so pooey to them.
goodluck
