Andyk12, ……

I don't have the answers to your questions, but I do have some for you :

– have you spoken to any property managers to see what type of property is most in demand for rental in the various areas before you buy? you mention 3 or 4 bedroom, but have you researched.
– What have you found out from your own research about vacancy…[Read more]

Just had a thought and I don't know the answer, but someone here may.

Take Mick64's case, ….. How long could settlement be delayed whilst negotiations between parties on the filthy state of the property and who cleans it continue. As a buyer you are probably okay with the delay as you are not making loan repayments until you settle, but the…[Read more]

Terryw wrote:
Realistically what can you do other than settle?

Keys are often an issue – many people don't have keys for various doors in their houses – they may never have locked the door with a key for example.

Very true Terry, ….. One of the first things I do when buying is have a locksmith come in and change all the barrels to one key.…[Read more]

Mick64, …. Just a thought, but if it has been left in this dirty condition shouldn't the tenants bond be used to cover any cleaning, repairs etc? This is presuming that the PM/Owner hasn't already given them the bond money back without a vacancy inspection.

Mystery

The Dark Knight wrote:
I'm about to start a Reno early next week and I've been able to obtain quotes for everything I'm not doing myself but unfortunately I can't get any plasterboarding quotes until mid next week. Just wondering what people have paid in the past for a wall in your average sized bedroom. Whether it be put on the frame or just…[Read more]

JayT, ……

Just had a read of their web site …. what they offer sounds very much like a real estate agency in Perth that used to run one hour seminars on negative gearing which started me on my path wayyyyyy back in the mid 1980's. His name was Rory O'Rourke, … many of the more mature Perth investors will know of him and his agency.

As…[Read more]

JayT, ……

Just had a read of their web site …. what they offer sounds very much like a real estate agency in Perth that used to run one hour seminars on negative gearing which started me on my path wayyyyyy back in the mid 1980's. His name was Rory O'Rourke, … many of the more mature Perth investors will know of him and his agency.

As…[Read more]

We had this situation in our townhouse. You lose so much bathroom space by having two doors as you need to keep both doorways clear. I pulled out the door from the main bedroom and re-did that section in stud wall and gyprocked/tiled etc …. made a huge difference … in a good way. I vote for do it ….

Mystery

AussieKiwi wrote:
Update I had to ring the agent spoke to Him and  it goes like this 

The building and land  is freehold yes FREEHOLD But it can only be used for student accommodation.

Bodycorp is $3000.00 per year rates are approx- $230 – $280 per quarter

It's starting to add up isn't it ….. at least $4,000 for the rates and body corp, ……[Read more]

AussieKiwi wrote:
Well if anyone is interest 0800hrs for a visit to veiw and still waiting for some more info aswell 

Hmmm, … tempting, but …. NO!

Mystery …

Derek wrote:
The WA Government is considering adding new requirements to the WA Tenancy Act which will see increased levels of security required to front and rear doors and all windows.

Read the article here. 

Looks like a bit of an overkill to me but ………………………………………….. I guess I no nothing as I am only a greedy…[Read more]

jenny111 wrote:
I heard that Councils in QLD generally levy very high annual rates; hence take into account of this high charges. Also find out whether the unit sits on the University's land; if yes, you will be only buying the 'brick' building, not the land and thus, you will have to pay rent to the uni (or whoever the owner is).

Good point…[Read more]

The old "bite off more than you can chew, then chew like hell" philosophy, …. I like it!

Well done and every success.

Mystery

Something not right about this in my mind, but then again I've been wrong sooo often …. I have IP's in the Ipswich Shire and no way would I get this sort of rent return, …. but then again I have no experience in student type accommodation investments.

Also, the fully leased bit …. Are you paying the $125,000 and $140,000 for the lease…[Read more]

Gmumm, ……. for a first project that's a hell of a task and living interstate as well.

Too late now, but another option would have been doing a couple of smaller developments to learn the business first where you don't have so much at stake.

By not understanding the whole process you are leaving yourself open to extra costs and charges that…[Read more]

SamSavva wrote:
Great thanks for the responses guys. I will def look into Landlords insurance. Pardon my ignorance but I gather LL insurance protects against damage and loss of rent. Would anyone recommend certain insurance companies and policies?

thanks appreciate it

Landlord insurance generally only covers you for proven malicious damage…[Read more]

Sam, …… It doesn't matter what Landlord Insurance costs it is an essential part of property investing for piece of mind. One of my properties in a similar type of area you are describing had $18,000 malicious damage done plus 4 months of lost rent.  I only lost the policy excess amounts, the rest was paid.

You can do your best to ensure you…[Read more]

Jason, …… I'm not sure if these people can help, but they did the work for us about 4 years ago for a successful dual occupancy application with Ipswich Council that was approved with no issues. The development is in Redbank Plains.

Hedges Geomeasure
Surveyors and Town Planners (Land and Property Development)
16 Vanessa Boulevard
Springwood…[Read more]

We gave early access to purchasers on a property we were selling in Adelaide a few years ago. It allowed the purchasers to arrange for trades to get in and reno the place before settlement.

The day before settlement they notified our solicitor that the smoke alarm was damaged and we had to repair it otherwise they would delay settlement and…[Read more]

Interesting redhot, … our dual occupancy development (SE Qld) is due for completion in around 3-4 weeks, ….. I may need to look into this as we were going to keep the properties on one title for the time being.

Mystery