Hi Marissa,

kp is right, the government has spent in these areas to beutify, sold off some of the state housing etc.

Don’t know about rezoning. I know this did happen for Balga, but Balga is City of Stirling, and Koondoola and Girrawheen are City of Wanneroo. Have you asked the council what their 5 or 10 year plan for the area is? You’re very…[Read more]

Spoony,

We bought a place in country WA for $34,100. Yes very run down. We’ve renovated it at a cost of $16,500. If you add the purcahsing costs to it ie: stamp duty, loan costs etc, it probably brings the total cost of the place to around $55,000. We just have the real estate agent up there through on the weekend and he estimates it would…[Read more]

In WA, it is usually expected that if the house is on Gas Bottles, then the owner pays the yearly rental fee for the bottles and the tenant pays for refills when they’ve used the gas in the bottles.

Water depends upon what’s in your lease. Most of mine the tenant pays for any excess water, however there is one where I’ve agreed to pay the first…[Read more]

On ABS I look at the Free Data, then I also check out the RP data site and then I usually call the council for the area I’m thinking of investing and see what info they will send out too. Often this is a bit more current.

Regards
PK

No didn’t realise. Interesting dilemma, perhpas contact a broker and see what htey can come up with.

Regards
PK

Housework, yuk!

Yes, the blue light thing was the thing that I walked out of too. I didn’t do it right at the begginning though, I waited a bit, but not my cup of tea.

The serviced apartment thing I sat in on was opposite the seminar room 2, they did their talk in the seminar room and we set up right outside it. Had to walk out of that one to…[Read more]

Nadine,

You may need to try something different. Can you add value to anything you’ve looked at that will increase the rent so that the property would be +ve cashflow?

PK

Hi Mad-Cat,

It depends upon your risk tolerance, what else is in the town that would help it survive if there was a down turn in Mining etc. POrt Hedland is largely mining, but does it also serivce the farming community, is there also industrial etc.

What is the population doing? Have you checked if it’s increasing or decreasing? Also check…[Read more]

Redwing,

Sounds like you got more out of it than I did. I did hear a couple of other speakers inlcuding Margaret Lomas, but one of the ones I wanted to hear was cancelled and replaced with some technology tiered buisness thing. That happened to be the very first thing I arrived there for so it didn’t really start on a good footing for me.

I…[Read more]

Redwing, might be able to answer that question as went to the show today (Friday). Steve has a digital copy at the show, but they are not available for sale yet, still being printed, estimate was that they will be on bookshop shelves at end of Sept.

Also Steve’s talk and meeting Steve and Brent was the highlight of the show. Other than that, it…[Read more]

At first I wasn’t going to reply to this post as it was a bit confronting, we noramlly give our bit on the quiet and that’s that, but then I re-thought it and decided that it is good that all aspects of finances should be discussed, often the “not discussed” or taboo items can be our downfall. I guess I also think that for the income we receive…[Read more]

Hi Kaye,

I agree with everything you said. However the settlement agent (that’s what’s used here in WA) has not been helpful. Anyway to cut a long story short, it’s sorted and I’ve sent the settlement agent a bill for my time.

We’ll see what sort of response that gets!

PK

Kaye,

Agree the inconsistencies are bizare, but disagree that we should have a cooling off period. After all, when you sign, you like to think you’ve actually sold or purchased something, not then wait for several days in limbo wondering if someone will reneg.

I think as adults we should all be resposnsible for our actions and if we agree to…[Read more]

Thanks Act Today. After much ringing around, we have got it sorted, it appears that the settlement agent should have ensured this was done and they should have charged us for 6 months of the strata fees and reimbursed the previous owner that amount. I had stopped using this particular agent after that settlement due to other problme that had…[Read more]

I agree, get and read teh book and then follow up with his CD called Fastrack 2 as it builds on teh book but is more current.

I wouldn’t wait for the next cycle, often by the time people realise the next cycle is happening, half of the cycle has passed and so you’ve missed half of your possibilites. Start looking, doens’t mean you have to jump…[Read more]

It’s his choice, but some people think insurance isn’t worth it, beacuse if you don’t use it so you’re not getting you monies worth. Can’t understand that myself, but have heard it said many a time.

Does he have car insurance? Health Insurance? etc. Ask him what the difference is. You are paying “just in case”, not so you can get your monies…[Read more]

There are some and some you can create by fixing problems noone else wants to deal with. HAving said that I believe things cycle and that growth in prices as moved more thatn rents so +ve cashflow is harder to find but I would think that as prices level out and rents start to increase again, then new opportunities may present themselves.

Don’t…[Read more]

If you do the reno yourself then double the time you think it will take you and it’ll most likely be closer the amount of time it actually takes. Then you need to take into account the mortgage payments for that period of time as a cost as you can’t rent it while the renovation occurs. Once you’ve done this, is it still cheaper for you to do…[Read more]

Ah yes, that makes sense although I had to reread it several times. I found this in their brochure, perhpas it might make it clearer:

* RentCover Plus – Protection against most tenat-related problems such as Macilious Damage and Theft caused by tenants, Accidential Damage, as well as almost every Loss of Rent Situation.

* RentCover Plus Ultra -…[Read more]

I’d hold the cash and wait and see what the tenant asks for, every tenant is different and what may suit one doesn’t always suit another. Besdies if you’re still doing the reno then you may find that there’s little things that you find that need fising along the way that will eat into the funds available anyway.

Good Luck. We’re down to…[Read more]