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Risky
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@risky
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Post Count: 146
December 12, 2003 - 4:27 pm
Hi Benno,
I have just returned home from
geraldton, (2 hours ago ) and yes i did come home with 2 more investment properties. You need to be quick as everything seems to be sold as soon as it hits the market. The government is spending a lot of money on the foreshore and removing the eye sore railway line ,and im told also there putting a artificial reef at mohamets and knocking down some of the sand dunes for ocean views. I bought 2 ex state housing commissions in rangeway and spalding for 63000 and 76500 . Both 3×1 and have been fully revamped .Positive gearing houses are very scarce there now as investors have been in and i know of one invester that bought 24 properties and another bought 19 so rental demand has fallen . Still a few in spalding and rangeway but you had better hurry, the prices are rising so fast its unbelievable. Both these areas are known as the less desirable areas , but if its positive gearing your after there isnt much choice, desirable areas such as bluff point, sunset etc getting to exspensive for any good pos return. Hope this helps , and here is a link to a lot of info including houses for sale in Geraldton. http://www.realestatehouse.com.au/frame.htm
Risky
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@risky
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December 4, 2003 - 7:01 am
I to are searching for the right software package so I would greatly appreciate the PIA PRO programme.
Many thanx
[email protected]
Risky
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@risky
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December 4, 2003 - 6:11 am
Lots of great comments there [8D] Although seems most peeps already knew about regional areas were looked on differently by lenders as to urban areas. Personally im just learning this industry so im finding out lots of good info daily especially the great information that gets posted on these forums so keep it coming people as its helping me build knowledge and probably heaps of other people as well.[]
Risky
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@risky
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December 3, 2003 - 10:59 am
Works with windowns 98 second edition no problem
Risky
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@risky
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December 3, 2003 - 8:25 am
another option is to find out how your accountant came up with those numbers? even if you still owed the complete amount from a interest only loan on the 5 properties . A refinance today would be 552000 @ say 6.5 % would give repayments of 35880 pa rental income at todays market prices would have to be in the facilinity of ip1-190pw, 2-180pw,3-180pw,4-170pw,5-110pw, total of 830 pw – 43160 pa
that gives a positive income of 7280 pa but in a real world you will probably have a vacancy rate of 20 percent would now be a loss of 1352 pa which would leave you out of pocket $26.00 per week.
This is jsut a rough calc and you would have to alow for fees etc .
Again just my thoughts and ive probably got it all wrong []
Risky
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December 3, 2003 - 7:55 am
Depends i guess if there principal and interest loans or interest only loans, if its p/i you should be able to refinance on the properties and have a big reduction in your repayments to hopefully produce a positive income from the rentals,especially on the 1997 ,2000 properties.
Just my thoughts ?
Risky
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@risky
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December 3, 2003 - 6:59 am
Here is an excellant site for New Zealand Stats on just about everything you need [^]
http://www.stats.govt.nz/domino/external/web/prod_serv.nsf/7bf6387b49c5291acc256b16006b54ee?OpenView
Risky
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December 3, 2003 - 6:51 am
Just some info i thought might be of interest to people looking in NZ . yeilds = Students x rough on house divided by good demand for rentals = hmmm[?]
The six urban areas in which New Zealand’s universities are located – Auckland, Hamilton, Palmerston North, Wellington, Christchurch and Dunedin – contain between them 63.9 percent of the country’s 20 to 25-year-olds and 60.0 percent of all 16 to 19-year-olds. This compares to 55.1 percent of the total population and illustrates the impact of tertiary education and employment opportunities offered by large cities. A total of 28.3 percent of the country’s young people live in Auckland, with a further 9.7 percent living in Wellington and 9.6 percent in Christchurch
Risky
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December 2, 2003 - 8:36 pm
Well done Robbo sounds like you hit the jackpot with that property , i hope mine goes as well as yours, in saying that i really cant see any reason why it wont as its in a sought after area .
And thx Kat , you have given me hope again [] Cant wait for sewage now so i can start the developments []
Risky
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@risky
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December 1, 2003 - 5:16 pm
Thanks for the replys Karan and Josh, I am on a high tax bracket (47%)and i can afford to hold and negative gear, its jsut ive changed my way of thinking from neg to pos after actually trying to learn a little bit about this game []
I work in the offshore industry so i only work on average 7 months of the year which gives me good free time to shop around for ip’s. Ive got a meeting with my morgage broker on wednesday so hopefully he will be able to shed some light on my options.[^]
Risky
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@risky
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December 1, 2003 - 7:23 am
Thanks rubbachook for you thoughts, To make my delema even more confusing whether to hold or flip is that the block is 1200 sqm so my original plan was to hold then put a house on the back of the block or even units . But to do this i have to wait for sewage to go thru which is happening in 2 years. The house which backs on to mine has come up for sale as well and its a 1300 sqm block with a house on for 215000 . Should i buy this with the thought of many units on the two blocks with 2 road access , but again its negitive geared and atleast a 2 year wait ,or do the 12 month capital gains and get out [?]
Risky
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@risky
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December 1, 2003 - 7:14 am
Thanks sis for the calcs , Your right but i was only going by the 11 sec rule which makes the 100k 300 pw look pretty appertising[] Depends how you look at it , using opm id rather pocket the 150 than the 102 becuase the outlay would be the same if you structured the loan right (100% finance opm). Hope you follow where im coming from []and again thanks for you imput[8D]
Risky
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@risky
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December 1, 2003 - 5:43 am
Hi Kelvinh ,
Im more of a risk taker so id like to follow up on some of those properties you listed . So could you please post the locations so i can do some follow ups [8D] (especially the 100k 300pw [])
Regards Risky
Risky
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@risky
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November 30, 2003 - 4:39 pm
Your not the lone ranger there Dave, ive read numourous posts not only on this forum stating the same thing. It is hard to find a cheap property with a pos cf in Perth. I havent been able to find one but instead of giving up ive looked outside my local hunting grounds (could even be called my comfort zone) and have found many 11 sec properties. Looks like your on the right track as youve done the same and have looked regional, however im more keen on Geraldton as the population isnt to bad and its on the coast, and only 3-4 hours out of Perth.