Forum Replies Created
the tennant says he needs broadband for work. I rekkon he should’ve approached his boss instead of his landlords.
Let us know what he asks for next.
goodluck
you could pull out some equity and live on that till the $ come thro.
I don’t know of any clubs but if you live anywhere near Sandgate, I’d be delighted to catch up and talk property.
well I’m putting tanks in all my properties. After the state and local gov’t rebates, each tank will cost me only $200. I believe it will add value. I am also putting in the dual flush loos where I can. Gotta take advantage of those govt rebates while tehy last.
millygees Id be wanting an entire block of units for that much!!!
Take a look around and see what else is on offer. I bet you can find a better deal without having to pay 25k management fees.
Don’t go in partnership unless you really have to.You must have had some vague idea about location. I tend to use the rentals section at realestate.com.au to get a good idea of rents. Extras like air cons, dishwashers, back decks or pegolas bring in greater rents.
goodluck
teacher by trade but now full time investor. I manage, renovate and repair my 5 properties. This means I am able to spend more time with my four boys (aged 7to14) and I have time to do some voluntry work at my kids school and attend their sports carnivals etc. I just love life. [strum]
My eldest has caught the property bug and is already saving toward his first purchase.
redcliffe council sold its soul to the developer and unfortunetly doesnt have the infrastrastructure to support the population.
“market has had its peak”….you say. Some of us have our eyes on the NEXT peak.
I have a coupla houses in ipswich an I gotta say I love ipswichwith its old world charm and all those original queenslanders just screaming to (as the agents say) be brought back to their original beauty. And yes I know the River Link is gunna put ‘Dinmore prices thro the roof!’ etc,etc………………….but, but….but………….
frankly I think there are better places in SEQ to invest. Pay the extra and buy that cottage near the water Even ‘Foundations’ prophesies wont prevent the full muscle of retiring babyboomer demand for ‘ocean glimpses’.Or nab that tiny bit o’ dirt. sniffin’ distance from CBD.
but im talkin capital growth an yr talkin CF+. Before you decide on Ipswich or Toowoomba, check out strathpine, pine rivers shire. The houses are high set chamfer board, in the 200k’s and are easy to wack in the granny flat downstairs and charge a higher rental. In fact residex has strathpine listed as a higher rental return.
goodluck.Yes I’ll be there. Plus drag along a mate who is also an investor.
I keep meaning to get along to the salisbury meeting but tis way down south and Im at Sandgate.
a big smoochie MWAHHH to you. This site is fantastic for me as I intend to now handle all my properties.
I used to use our family solicitor for all my conveyancing. Over the years there were hold ups and stuffups. Lets face it….the solicitor doesnt do the conveyancing, the office staff do. Ive had the solicitor tell me an extension on a contract was required and that could have given the vendors an out if they wished.
Last time I bought a house I did my own legals. I bought the kit for $130 and telephone assistance if required. This was a great learning experience. There was really only about 2 full days work but spread out over a couple of weeks. It is a bit fiddly but nothing hard about it.
For my latest purchase I am using Conveyancing Works. It is only $380. Dunno if they are any good but I do know what searches need to be done.
Personally i think solicitors had a monopoly on conveyancing too long. THey like to keep it a mystery to make people believe it is more difficult than it really is.
good luck in whatever you decide
millyfrankly MK I take written references with a grain of salt. Anyone can write a reference. THey are only part of what makes up the ‘whole picture’. You can get a ‘feel’ for a person in just five minutes. The most ideal way to screen the potential tennant is to act the handyman, changing lightbulbs, fixing the smoke alarms. Then you simply have a casual friendly convo, no need to reveal that youre the owner.
THe only problem I have found in my relying on ‘gut instinct’ is that sometimes I get a genuinely nice person who has trouble paying the rent as apposed to an asshole having trouble paying the rent. On one occassion when a nice person fell behind in rent, he gave me one of his beautiful aboriginal painting.
Just recently I have had to give a couple notice because they have continually fell behind in rent. I have promised them a glowing reference if they leave the place neat and tidy and on time. So whats my refence going to be worth?
hey thanks for the tip Stuart…ill be sure to put NIL in the contract next time.
and Terry you may say the interest charged is common practice now but the agent who sold me the property hadnt seen it done in the 15yrs she has sold houses.all water under the bridge….im happywiht my purchase and feeling sore but satisfied from doing a weeks renovation.
hey Qlds007, wot are the probs with Forest lake? I ask cos I have been thinking of purchasing an IP there. I hate these tiny blocks tho. 300 sqms with the house taking up the lot.
I love ipswich and its old world charm. In fact I have 2 IPs there. Streets and streets of original queenslanders. I really hate the new, sterile, boring looking new estates but I know others like the new, clean look and I have to consider my potential renters.
Im sorry I can tell you anything about springfield lakes. I know my kids want to live in springfield despite my telling them it would be highly unlikely that we would purchase a house right next door to the simpsons.
thanx for the comments folks.
I can certainly set up an internet network.. good idea. I like the white goods one too. I love the weekend shopper.
The house is situated in an area of high rental demand. 4 bedders rent between 270- $330/wk. I see no reason not to aim for the latter end.
I take your point Brahms that many a single person has signed a lease and then sublet rooms to his/her buddies, ensuring they pay the bulk of the rent. But if yu think the market value is the same for singles as it is for families, well Im going to find out. I want to be well compensated for damage caused by parties and drug raids.
I still recall a nite about a hundred yrs ago, comin home drunk, and losing my balance whilst climbing in my window and then rolling across the room to smash thro fibro wall. Luckily the place came furnished and I moved a wardrobe in front of the very large hole.
Good choice Jamie. If i was 18 Id be getting around on a moped. I still might but the kids would soon complain about running along side.
I rekkon yud have to contact a few builders to get some idea of the cost. I tend to purchase highset houses so I can wack in a granny flat to rent out downstairs.
good luckhey thanks for the advise Stuart.
hehehe yes this sounds familiar. My folks were forever teh doomsdayers. Tis probably best just not to mention the latest purchase.
But remember THEY are the ones with the problem. They have chosen to worry about these things. Seems to me if it wasnt IPs it would be something else. Don’t make it YOUR problem.
goodluck
this is good ptn. thanks for explaining your formula. I havent really given enough thought on how long I can last on $130k which is why I am very careful of where I buy in the next few yrs. I need to buy where I am confident they will increase in value so I am able to refinance in 2 or 3 yrs time. I am counting on properties doubling in value every ten yrs. ie 10% per yr. Altho they never do rise neatly at 10%/yr.
But remember I have less at stake than most. I am not chucking in a 100k/yr job. I’m chucking centrelink’s 13k/yr. Actually I only received 6k from Centrelink last yr as I work casually as asupply teacher. I see no reason not to keep working one or two days a week teaching. It is amazing how much fun teaching is when you dont HAVE to work.
goodluck ptn on your own venture. Lets hope we have prodded a few others to take the plunge.
