Forum Replies Created
Hi davlyn,
Any chance you could leave me your email address or email me at [email protected]
I would like to ask you several questions if you don’t mind.
Thanks,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Babs,
These are areas where I have done some extensive research on. Yes there are many properties in Whyalla where cashflow positive is well and trully achieveable, (especially the half masonite properties), however the vacancy rates in the area is at around 14% which is extremelly high, in addition its population has been decreasing for many years now and is expected to continue to do so according to ABS. A proposal for more funding for schooling was knocked back by the government. Whyalla’s Port used to be so much busier compared to now. Industry wise, BHP has already or is about to move away. It still remains the second largest regional town in SA with a population of 27,000. The birth rate has increased by 2% but 5% are moving away from the area. It has a unemployment rate of 11% which has reduced from 13% (this is good news but still too high). The local council has a plan in place to drive more tourism into the area. Look I believe the negatives outweigh the positives in this case. Remember this is just my personal opinion and dont base your decisions just on what I say. Do your own due dilligence and speak to the agents in the area to get the info.
Hope this helps.
Good Luck,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
westan,
where exactly are you purchasing these properties at the moment?
Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
if not me, who?
if not now, when?Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Natasha,
You can’t go past Dale!
http://www.gatherumgoss.comHe is an excelent Property Accountant.
Many investors on here use him and myself.Good Luck,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Brendan,
Email me and I will point you in the direction of where to look for this information.
I’m unable to post this here.Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Brendan,
Who are you dealing with at Westpoint?
Which of their projects are you looking at?
Bayside, Bayshore, Pacific International?Email me direct (check profile) with contact number and I will contact you by phone for the information you require.
Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Bruce,
Do you mean Market St, Melbourne?
Serviced apartments?Regards,
Melbourne.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Kellie,
Follow this link:
Say hello to Dale for me.[
]Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Michael,
Do you invest in Tassie?
If so, do you recommend any areas where rental yield of 12% plus is achievable?
I have been looking for weeks now around the coastline as these are my preferred areas.Thanks,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Grace,
Can you tell me which company you are thinking of dealing with?
I don’t want to elaborate on which Company I only want to know for my own personal curiosity.These sort of Companies will generally advice you on a property that suits them more than you. In addition to that they will also help you with the management side of it for a much higher management and leasing fee.
Am I trying to put you off? Yes
To me it is most important to have total control of what I purchase. Not someone else!Do your own research, read books and keep interacting here and in other forums – it is where you will find your answers.
Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Darren,
Dale Gatherum-Goss comes highly reccomended.
He is my Accountant and the Accountant to most of the investors I know.Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi cazdean,
Can you tell me which serviced apartment you are thinking about purchasing?
I have some experience with them, so I may be able to give you some more insightful information. I may know the development very well.Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Sorry Smoke,
I totatly forgot it was a townhouse development.
Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Smoke,
Are both properties on the same floor? As price varies between floors.
Are both properties enjoying the same aspect?
Is one looking at the mountains where the other is looking at the ocean? (I doubt this as there is little difference in price)Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi DK,
If you ever venture into Melbourne let me know.
Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Smoke,
First of all, there are some banks willing to lend on market value. From memory I believe St. George are one of them. Check with a broker it may be easier.
In regards to your second issue, if above option fails I would approach the bank and find out who are on their list of valuers, I would then use one of these, it would then be almost impossible for the bank to deny.
Please note in regards to the other property sold in the same complex for $335k, is it the same size as yours? Note: not including balcony size.
Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Implementor,
I can’t believe that the best you can do with a management fee is 8%. You should be able to negotiate down to a 6% for one property and at least 4% or 5% if you have more than one property with the same agency. This is in Victoria.
I personally don’t think it is my worthwhile to manage my own properties as I cannot possibly be able to look after them properly, and yes I do agree with you that the Property Manager will probably do just as much, however they are much more closer to my properties since they are spread in different suburbs away from me.
I think the yearly management cost is not that substancial in having someone look after my properties and not having to deal with tenants.
Having a busy working life which extends into weekends doesnt help either.But well done on your lease, sounds very good indeed.
Good Luck,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
I actually thought that the comment of Australians biggest killer disease called “Shilby Wright’s Disease” was a good call.
Some other very interesting points as others have already mentioned. The rest was a sales push to enrol people in the 3 day course.
I need to be teased with a lot more information to entice me to go to the Sunshine Coast.Mannie.
“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
Hi Gordon,
You mentioned – not using the family home (PPOR)and being “safe”. When planning on investing you must always think with the end in mind. As Sooshie mentioned do you have a family trust? did you buy your current PI under a trust? I’m assuming you are a very conservative sort of person from your comments, therefore a family trust with a company acting as a trustee has been suggested to maximise security. However there are other types of trusts and structures. For this you need to see an Accountant who is fluent in the property language and also is an investor himself/herself. He/She can give you the right advice for your situation.
Regarding your property portfolio –
You have a home that you do not wish to use to leverage and you are both yourself and wife on a lower income with 3 kids. You also mention that you have enough to live on and are also studying.
This tells me simply that you need to go for more cashflow. A negatively geared property would not be the go here unless you were going to leverage your home.
If you want to continue enjoying your current lifestyle or improving it, you need to look at cashflow positive properties. You can definately afford some as these properties are generally on the cheaper end of the market. Also do not count on much Capital Gains here, you may get some but the point of the exercise is to get some extra money into your pocket.Regards,
Mannie.“It’s too late to go back and make a brand new start, but from today you make a brand new end”.
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