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Another vote for Terri Sheer, I did a fair amount of research before taking out landlord insurance, and I couldn’t find more comprehensive cover, not too expensive either. Fortunately I have never had to claim, so can’t comment on that side of it. I’m sure there will be someone on here has.
igino wrote:I just want to get general consensus on Point Cook, I am looking to buy another investment property around Innisfail Estate. around Astley Cresent.What is the vacancy rate at the moment?
How expensive is the area?
Is it worth it to go there now or has the boat sailed away?
What is the demography? (tenants or owner occupier?)
The median house price in Point Cook as an area has gone up a bit in the last few years and now sits at $465k. The Domain suburb profile provides a graph of this: http://www.domain.com.au/public/suburbprofile.aspx?mode=newdev&suburb=Point%20Cook&postcode=3030
At the 2006 census, the suburb was 80% owner occupier, 20% rentals, which as someone who lives in the suburb it sounds about right. a few of your questions can be answered by getting a free suburb profile at myrpdata.com.
Also Point Cook falls under the Wyndham – South (also includes Werribee South) area on the ABS website. The area profile is available at the following: http://www.abs.gov.au/ausstats/[email protected]/lookup/205207264Main+Features12005-2009
In my opinion the area is still going ahead, and growing fast. New train station at Williams Landing in the next few years. The new about to be constructed Wyndham Harbour Marina just down the road should be beneficial to the area too.
poida5 wrote:pluto123
Thanks for the info about needing a flat floor to lay masonite. I have found a product at bunnings that is thicker (may add some warmth) and is also tounge and groove so may help to even the floor out.
http://www.thelaminexgroup.com.au/downloads/trade_essentials/TradeGuide_Part_Flooring.pdf
I know that this is going to cost a bit but it might be worth it. I am hoping that it is thick enough and the tounge and groove will make the floor more level. They do 19mm,22mm or a 25mm commercial. I am not worried about loosing 6 extra mm of headroom, would the thicker boards be the way to go for warmth and leveling out the floor???
I already have 2 houses with polished boards and find them quite cold. Where this house is located i really need to keep the warmth in and will also rent it so the boards need to be covered up. They would look stunning but being a holiday rental and in a freezing place i have decided not to go down that path.Tounge and groove flooring was my initial idea when I read your original post (10+yrs in hardware retailing). It would provide the stability and strength you require. Obviously you might need to do a bit of packing to get it even, but it should be a good result. Yes, it will cost a bit, and might be over engineering, but better than under engineering and having to re-do it in 12 months time.
I would be interested to hear how it turns out.
It definitely has been a tough time for commercial property, with plenty of empty places & turnover, but things appear to be picking up again.
I also agree and would be reviewing your agent. Look at similar properties in the area that have been leased recently, and find out which agents leased them. Before signing up another agent, I would be talking to a few & getting a feel for the market.
My advice would be to get into the market as soon as you can.
That is exactly what I did a few years ago, while saving my deposit, I realised I can’t save at a rate quicker than the rate at which house prices were going up in the area I was looking at. So as soon as I had enough deposit (and the right property came up), I bought my house and rented it out and then moved into it when I got married just over a year later. This step has set me up quite well, as the property has gone up a fair amount in the last few years.
