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Very interesting analysis. It always pays to do you’re own research clearly. Not sure what suburb you’re talking about perhaps you could enlighten us so we can buy at the bottom market?
Many areas in Brisbane are on the move with multiple offers and properties achieving more then the asking price. Vacancy rates are at an all time low and returns improving by as much as 6%.
I attended two auctions in the past week and both properties sold under the hammer with very competitive bidding pushing the price above any other historical sales evidence for the streets and areas.
I’ve been involved with the sale of a property today with the buyer purchasing two properties in the same street and back-up contracts from other buyers on both properties. Tick, tick, tick
I guess that many areas of Brisbane are still well undervalued in terms of the southern states and Perth.
[ohno]
Opportunity in everythinng
Get everything decided before you start looking for a property to buy.
What is the goal and time frame for investing?
How are you going to fund the investment ongoing, expenses, repayments and so on.
Seems simple, cover the basics and set the ground rules now.
Opportunity in everythinng
Any charges should be outlined and agreed to in writing before the commencement of the tenancy agreement. The landlord is required to provide a reasonable amount of water and generally this is considered to be factored into the weekly rental for the property. You may consider adding somthing similar to this as a condition in the lease agreement and in your instructions to the agent (if relevant). This condition would cover any access charge to the water supply being payable by the landlord.
The tenants will incur any charges for water usage over the allocated amounts in the table and per the number of occupants as noted on the rental agreement. Water usage over this amount will incur a water a charge as prescribed by the appropriate City or Shire Council.
It is important that your water meter is read on the commencement of the tenancy (in the space provided on the entry condition report) and on the expiration of the tenancy. It’s also important that the tenant advises the property manager immediately if, for example, there are leaking taps, or if the pool has sprung a leak and needs to be topped up with water every week. These water amounts are for Level 4 water restrictions and may change if Higher Level water restrictions are introduced.
By written notice to the tenant any amount in excess of the allocation table will be payable to the agent on behalf of the owner within 14 days from the date of the notice.
Number of Occupants entered on Lease Kilolitres / Year
1 80 Kltrs
2 140 Kltrs
3 165 Kltrs
4 180 Kltrs
5 210 KltrsAt the end of the day any challenge to the reasonable supply of water to rental premises in Qld and ultimately, whether or not the tenant is liable for the increased water costs would be a matter for the Small Claims Tribunal.
Opportunity in everythinng
Deception Bay and Redcliffe are fantastic places to live and invest. That’s coming from a resident of over 25 years. I gues if you buy at the right time you’ll love it here too.
Under $300,000 30km from the CBD close to the highway major hospital good schools shopping family beaches good year on year capital growth.
But be quick in the last month prices in Deception Bay have taken off by up to $25,000 – $30,000. Redcliffe still seems a little flat but this is the year for development. You won’t recognise the place come 2008 with the amount of development taking place in the Redcliffe CBD.
Its all good and getting better. [withstupid]
Opportunity in everythinng
Isn’t it the settlement date of the purchase the date that counts here?
A simplistic way to look at this might be to say the event starts from the time rent is payable to you under the terms of the contract, this maybe before settlement but more likely not though. Possession seems to be the important factor here and again the contract may grant possession prior to settlement and this would be the start of the event.
Mmmm?
[hmm]Opportunity in everythinng
I’ve spent some time in Poland recently and consider myself a pretty adventurous investor. The growth you’re talking about and the opportunities for the same is pretty evident on the ground.
Poland is truly becoming a power house of the EU. As one of the many opportunities in the EU though Poland would surely have to be one of the tough ones. Wow! Good luck.
Opportunity in everythinng
Right now in the current market situation of interest rate rises and an increasing cost of living auctions are a real opportunity.
It’s unfortunate but there are a number of mortgagee in possession sales taking place right now. More unfortunately though you wont find them screaming out to you from the newspapers papers. They’ll just be advertised as plain old auctions. The instruction on there properties though are pretty clear, get them sold. They are happening every weeked in a suburb near you. They are selling sometimes 20% under what you would expect to pay.
Avoid auctions and you could be avoiding opportunities to purchase well under the market.
[cigar]
Opportunity in everythinng
Deception Bay units at $360k. That makes me cringe.
Opportunity in everythinng
http://www.realestate.com.au is the larger of the agent websites in Qld.
http://www.rpdata.net.au site heavily focused on Qld for detailed reports
http://www.htw.com.au/pages/info_centre/review/Qld%20Market%20Report-0606.pdf
Interested in Melbourne?
https://www.propertyinvesting.com/forum/topic/17472.html
Perhaps someone will take this question off on a Sydney tangent next?
Well that’s got Melbourne covered off, might check back on my original (earlier) post.
Let’s say you might pick-up a two bedroom house on 400m2 of land for say $220,000. Would probably rent for around $210.00 in good condition and rates be PA approx $1500. That is the starting point for crunching some numbers.
Supply is on the decline big time in Perth Metro.
