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I still use the internet property sites such as Real Estate.com.au, as a starting point, then I do the research via Australian Bureau of Statistics, local council web sites with their future plans for the town/city. I also do a search function on various forums including the Somersoft forum which has some valuable information (such as soil problem areas in Kalgoorlie for example). I also phone local agents and then when I work out the rough returns available, I fly there and spend at least 3 days checking out the local market, after setting up initial appointments with agents. I talk to a lot of locals, in supermarkets, pubs, on the street. Thats how you find the heartthrob of the town, the popular/unpopular areas, areas with bad soil, lower socio-economic areas etc. Then you fine tune this over the 3-4 days and inspect many many properties. You can put the bids in when you get back home. By the way Dags the Dude, I dont mean to be a prude, but do you ever say anything worthwhile. Pinkys question was a fair dinkum one, cant you give us some decent advice for once. Regards, Scotty.
I have bought 3 properties in Cairns and myself and many of my investor buddies use Sue Williams from Lee Williams and Associates. Reasonable fees and good service. Phone 07 40544366. Fax 07 40547637. Regards, Scotty.
I purchased Hans Jakobis cash flow property course ‘super secrets to wealth’ after reading his book ‘How to be rich and happy’. I met Hans at the October 2002 Melbourne property investment expo (that expo is on again this October 17-19). After listening to his tapes several times, My wife and I flew to Cairns last November, bought 3 properties, then to Launceston, in January and bought one more, to Brisbane (Beenleigh, Eagleby, Woodridge) also in January for 3 more etc etc. I recommend Hans Jakobis methods which is similiar to Steves without wrapping. Without Hans input, and a few of Jan Somers. and Margaret Lomas’s books my wife and I wouldnt have the 10 investment properties we have now, and the unexpected bonus to this is the $250,000 ‘on paper’ capital growth we have received. I’m not saying this to brag, just to let you know that 12 months ago all we had was our own home, and a couple of good mentors changed all that.(including a great accountant in Dale Gatherum-Goss) I know Hans recommends Ed Burton, but I have no personal exposure to Ed. Regards, Scotty.
Whats up with you guys? You got a problem helping others? I thought this forum was here so we could share info. Sure I did heaps of hours searching the net, (many times until 3am in the morning)the ABS suburb snapshots, many phone calls to local agents etc and then took my wife and 2 kids to W.A Cost me heaps, but I got some good deals. Its my business if I want to share that. My contracts are signed and vendor has signed, so what are you guys frightened that someone would steal your deals before settlement. Why are you guys on the forum Dags, Obviously to read other info that might help you. So in a way we are all getting a little spoon fed. I now have 10 properties plus my PPOR. I didnt start until last November. Sure I bought all the books, and did Hans Jakobis property course etc etc. You have to spend money to get the knowledge. But I got heaps of free information off the Somersoft forum and to a lesser degree this forum, so was I being spoonfed? In fact I got detailed info re Kalgoorlie even to the point of what particular streets have soil, cracking problems. Circled my street map and you know what? the info was dead accurate. Got that from the Somersoft forum. You guys sound selfish. By the way for all you unselfish folks and selfish alike, I have helped organise my accountant Dale Gatherum-Goss to speak at Footscray Uni on 16/10/03 re hybrid property trusts and other property tax matters. This is a totally free night. No selling no kickbacks, and with a room to hold 200 people. Because of unslefsihness from Dale, my investor friends and some good people at the uni, others can be “spoonfed” too, and good luck to us.(see my previous post re details on this a few pages back) So Dags, dont preach to me about what I should and shouldnt do on the forum. Its my risk and my business. By the way Dags your are also welcome to our meeting. I mean that. Regards, Scotty.
Just back two weeks ago from an interstate trip to Collie, Bunbury and then Kalgoorlie. No positive cashflow in Bunbury although potentioal for capital growth and I liked the large town. Looked at about 6 properties (houses and units) in Collie. Unfortunately the rents didnt match the 10.4% returns in relation to the asking prices. For example nice modern brick units selling for 75-80000 but only renting for $120. Rents are really low. Nice river running through the town though. And yet in Kalgoorlie, my group purchased 6 X 3 bedroom brick units in one block built in 1990 at 78000 eeach renting at $160 p.w. Other units purchased by my group being a block of 5 x 4 yr old units (top quality)The 2 bedroom units in this block at $107500 with leases of $220 p.w. The one bedders similiar purchase/rent ratio. So I didnt buy in Collie or Bunbury. Kalgoorlie has 30000 people and is a much bigger and vibrant town than I expected, not the desert town image if you know what I mean. The place in on the way up with rents increasing lately. Regards, Scotty.
Sure, my email is [email protected] Regards, Scotty.
Try Kalgoorlie. Just got back to Melbourne 2 weeks ago from a trip to Bunbury, Collie and Kalgoorlie. Forget Bunbury, the most you will get there is about 7-8%, but might be good for capital growth. Collie didnt do much for me and again returns were about 8%. Found heaps of 9 to 10.5% yields in Kalgoorlie (population approx 30000. Wages are high. A much better town than I expected to find. Seems to be on a rise at the moment, and with Kambalda (60kms away) ready to boom with the nickel mines and no rentals available there, many workers from there will rent in Kalgoorlie. From the research I have done, it appears Kalgoorlie property cycles run opposite to mainstream Australia. When the stock market rebounds(gold prices etc) Kalgoorlie starts its boom cycle. This helps balance my portfolio which includes properties in Launceston, Melbourne, Beenleigh, Eagleby, Woodridge and Cairns.(All positive cashflow)
