Forum Replies Created
Thanks so much Daniel. Very much appreciated ( :
Thanks so much for the heads up carllarz! Much appreciated. Looks like an attractive option.
Cheers, melThanks Ten_burner thats a great help ( :
LOL OMG!!!! What a great IP story! Sounds like never a dull moment there! Hmmm, a great yield but I'm wondering if I'm up for all the action that could come with it. Maybe some other more 'boring' options around TAS would be worth a look. Although we are looking for high yielding IPs – around 8% so that narrows our search a bit.
Thanks so much for responding ten_burner ( :
Thankyou all for your comments. Yes the state is Victoria. Just to clear up, I absolutely havent put an offer in yet – only just viewed the property a couple of days ago. Interesting that it is illegal to not have a sec 32 drawn up prior to putting the property on the market. I wasnt aware of that, although I have never come across that situation before either!
I have since spoken to the planning department of the relevent local council and they outlined the following things to be aware of:
1. Dual occ/subdivision would not be approved given the land is zoned industrial.
2. If the house fell down tomorrow, it could be rebuilt, just not with multiple dwellings.
My broker spoke to the bank and it seems there shouldnt be an issue there, although they would definitely be doing a valuation on the property but were more comfortable given there is already a residential property on the block. It would be a very different story apparently if we bought a vacant block zoned industrial and wanted to build a residential property on it.
I will now be interested to speak to the real estate agent next week and query the issue surrounding the lack of sec 32.
I guess originally I was just interested to hear any thoughts/experiences of buying a residential property on industrial zoned land.
Cheers,
Mel
Apparently the vendor does not want to produce a section 32 until he gets an offer he is happy with…..
Thanks everyone! I appreciate the conversation. ( : Will follow up with those suggested above.
Cheers
Thankyou everyone for commenting! Please dont get me wrong, I am happy to, and understand why someone would charge a fee to attend a seminar.
I guess I am just trying to avoid the situation a friend of mine got herself into by going to a seminar where someone told her she would get rich quick. She bought all these manuals and information and an investment property under their banner which ended her in a lot of debt. Don't know the details but I am just being wary of the 'get rich quick' schemes! But for someone like those mentioned above, yes understand they are going to charge a fee for their time!
I'll look into Steve and Cheries schedule, and the mentoring group.
Cheers,
Mel
Oh I just googled it and found the details, thanks!
Thanks for your reply Jamie. Somersoft forum??? How do I find that, sorry!
Thanks Rick! Appreciate your comments.
Cheers
Thankyou Nathan! Great to hear from someone already there!
Cheers,
Mel
Thanks Derek. It does help thankyou!
Cheers,
Mel
Thanks so much for all of your feedback Derek. Much appreciated.
Yes I think now that we are open to and excited about taking the property investment journey, we are enticed by the sprint, but as you say, its not the way to go.
When you say:
Lots of rental income and live off rent or wait for the properties to grow in value and then sell and live off profits?
Is it ignorant to answer that by saying could we not do both?? I'm assuming they are different properties that would give each of those outcomes? Would you buy your first one for rental income, the second for sitting on to grow in value and so on? I'm assuming I am over simplifying it though!!
Thanks for taking the time to respond Jamie. Appreciate your comments. It's all so new to us and so it is great to hear from people who know what they are talking about!
Cheers,
Mel
