Forum Replies Created
Hi Peter
As you have read my post then you can see I have supplied his initials. Do they align with the person you are referring tooHi Mack
How is your search going for a reliable mentor.
Be very careful when researching. There Are plenty of sharks out there willing to take your hard earned cash of your hands.
Richard speaks from a place of experience and is the type of mentor to look for.
I was unlucky to meet a shark, who promised to lead me to financial freedom but within 2 years. I’m spending my hard earned cash with a attorney in Orlando fighting for what is rightfully mine, that this self-proclaimed mentoring guru from Melbourne,lead me to. He’s abandoned promoting Florida and back to pushing the benefits of investing in Melbourne.And to rub salt into my wounds ,he’s also refusing to return my lifetime mentoring fee.
Tread carefully…Merv,
Nigel is right, there is always somebody wanting a piece of the action. Even if they’re a self-promoting mentoring guru ,who you pay highly for their service. They are also on the receiving end of commissions from the deals you do.
Watch out for the Sharks that used to promote Florida. They will bled you dry and you won’t see your money again.
Speaking from personal experience..David, Contact Mark Honeybone at http://propertyventures.co.nz/.
Hes a great guy with plenty of NZ knowledge.
Caught up and had lunch with him a couple of years ago.Cheers
Great to hear from you David, I agree with your Buy and Hold strategy , with a view to develop in a couple of years. Have done a couple of these with the same success. I got the impression CovelliOO was talking about flipping them quickly and repeating the process.But holding costs ,closing costs ,sales commission , stamp duty. They eat into a fair amount of profit.
Of course, using your services to source a property well below value can help to eliminate most of this.
Have heard of Dominique Grubisa , I think it take a person with a special personality to do deals with people in unfortunate circumstances . Not for everyone.
Hi, I have done many renovations in Perth in the past and now not entirely convinced that the current Perth market is a good “reno market”. Two weeks ago, the Saturday west newspaper printed an article from Macquarie . Which compared 6 houses on the market now to when they were bought in 2007 [the peak of the perth market]. The worst was a house in Subi which they are asking 140k less than they paid for it in 2007. Perth has a boom / bust market. Not sure if Cherie’s renovation course is adaptable to this as the NSW , QLD, VIC is much broader with greater opportunity.
That's fine , Jamie.
But if you get your own valuation, you will discover if the developer has jacked the valuation up.
And you can use yours to negotiate a better deal, if you want to continue with the purchase.
Not for me either.
Same reasons as above;
With finance committed for 1 or 2 years, to settlement date, doesn't allow for other projects to be considered.
Also, I would insist on getting my own valuation OTP done, before signing the COS.
Have you thought about using a "Buyers Agent"
I've used them for development blocks and easily made their commission plus profit back..
Hi Lisa,
At the mention of cabinet makers, I see $$$$$$$$$$$$$.
Before going to the expense, draw up a scale plan, with taps, drain on it and take it to IKEA.
They have designers that may be able to help you.
You can trade in the lawn mower for a tennis club membership
Buddy, it sounds like you have dug a massive hole.
Google; "Dominique Grubisa"
Think she has a company called "Aussie Debt Rescue" .
May be able to help.
D
Friends of mine bought a contemporary style 3 x 2 house on a 6 metre wide block in Subiaco , Perth.
It was separate and a mirror image of the house next door , with a difference looking exterior.
As you know Subi , is close to the city and prices are quite high. They doubled their money in 6 years
There is a demand for this size, if its close to the city, trendy cafes, restaurants , gym ,tennis clubs.
Would appeal to "DINKS", who could afford to get an architect involved, to come up with some great designs.
am getting some varied and interesting feedback from Estate agents as to the single 7.5m wide lot
If estate agents haven't worked in areas of Sydney, Melbourne and Perth, where this size is common, then they may have a negative opinion.
Hi Dan,
I personally wouldn't build in Baldivis or Wellard, too far south, unless it's about affordability .
Armadale has a train service to the city and great for investors as prices are low compared to the Perth medium .
Ellenbrook has been popular for a couple of years now, not sure of the values, there was talk of a light rail link with Midland.
Check with the council.
I'm a north of the river guy and will always be, so my choice would be Ellenbrook.
Hi James,
For your first question, Don't rip the boards off you will open a can of worms. I'm guessing they are vertical ship-lap boards or panels. Best to make sure they are firmly nailed on then clad over the top with gyprock .
Not sure what you mean by wooden strips, if they are running horizontal about 1 metre above the floor then that is a "Dado Rail", common in older homes used to separate the different material , panels below / plaster above. They can be removed
I would not remove the cornice and replace it for a smaller modern one, sometimes what you find is the ceiling fixers left the plaster sheets short and you will have to patch up the ceiling so the new cornice can cover it..
you need to think about what you are trying to achieve .
You can't turn an old home into a modern one. If you are doing this to on sell, then you are heading in the wrong direction.
If it going to be your PPOR then fine if that's what you want.Good Luck
Hi Sambo,
My question would be .
Where is your weekender ?
How much time do you spend there ?
How much is it costing you to hold on too ?
Are you emotionally attached to it.
Why not start your investing now by renting it out, you can always use it as a weekender a few years down the track after you have built up your portfolio.
Just my two cents worth
DM
Just checked their website, the East Perth apartments are in Windsor st, now "Sold Out"
Its not North Perth The area can be defined as "Perth" / "East Perth", its right on the border .
This is the one I would of chosen, as its a quiet st, East Perth train station at the end of the st.
Two stops to the city and its the end of the line for the Indian Pacific from Sydney or Melbourne.
Check it out on Goggle Earth.
The other 2 are in North Perth, Charles st and Loftus st.
These roads can get busy during rush hour, but nothing like Syd /Melb.
They do have good access to shops, the local council is spending big upgrading the pools and re. centre, its on the main bus route to the city.
Not sure of the figures for these projects, you will have to do some research to see what is selling and for how much.
Good Luck
Rob
Hi Janice,
I have used "Property Wizards", 3 times for development blocks and have made great money from doing them.
Thats why I keep going back to them, My projects have featured in API .
Liz is always contributing her knowledge to the media.
They have won many awards for their services, over the years.
Check out their website; propertywizards.com . Their office is in Subiaco
Was recently back in Perth and caught up with Trevor and Liz for a coffee and a catch up on the Perth market.
Hope to be doing another project with them after this current one in NSW.
Have a chat with them about your goals.
Cheers
Rob.
Hi DM,
As far as "Armchair investing" goes, they have a good project in East Perth on offer.
Either a block of apartments or townhouses [ can't remember ]
Where you pay for your share of the land and balance after the project is finished and been re-valued.
You get the property for wholesale.
Make sure the builder, is reputable and check out previous projects.
I lived in the North Perth area for 10 years and would recommend it to invest in.
The local shopping centre is on Fitzgerald st, which runs north from Northbridge , near the city.
Beaufort st , also runs north from the city, has trendy coffee shops, restaurants and a couple of bars.
Over the past 15 years, the old homes have been modernised , blocks have been subdivided and contemporary homes have sprung up. There's still a large Italian population with homes, that they have made comfortable with their unique style.
Great to pick up if you are looking to renovate.
Good luck
Rob
Thanks ,Freckle.
The agent did follow up without success.
One potential buyer [ a local Hotel Manager ] was interested for his mother inlaw , said ring me Monday morning,
The agent did phone him many times over the following weeks but the guy refused to take his calls. "What was that all about"
Anyway, have changed agents, lowered the price and expressed urgency in the add.
Cheers
Rob
