Forum Replies Created
I’ll bet your capital gains in Mt Isa are looking a lot better now, and will be even better next year! And returns are still pretty high too (higher than what you are quoting elsewhere).
Do you want cash flow or CG? Do your homework thoroughly and if you do go for another mining town, at least make sure it’s a different commodity and mining company to give you some form of diversification…
Cheers,
Scotty3Hi Kooshti
Welcome to the forum!RP Data provide limited free suburb profiles. Check this link:
http://www.reports.rpdata.com.au/They include general population data and median prices and growth over the last 10 years for that postcode. If you want to be more specific you may have to pay some money for a more specialised report…
good luck!
Scotty3I have a wrap in Qld and had some interesting discussions with insurers as to whether conventional landlord insurance would cover the wrap scenario. Some insurers found it too hard and didn’t want to know. In the end, I went with AAMI who have assured me that their policy will be honoured on a wrap.
Good luck!
Scotty3Hi Duritz
Welcome to the forum!
As far as I know there isn’t an index that you can look up that shows vacancy rates. Your best bet is to research towns that fit your budget/property profile and then ring a few agents in the area and ask about vacancy rates. They can change fairly quickly (within months) and I don’t think any magic list would be current for every place anyway.Even more important would be to research what drives occupancy (aka vacancy) rates – employment prospects, population profile, etc. so you can assess what they might/might not do in the forseable future in regard to the type of property you are looking to buy (house/unit/commercial).
Local councils, chambers of commerce, real estate agents can help you get an idea of what is happening in the town.
Good luck!
Scotty3I am another happy Rick Otton customer. His wrap pack has worked great for me, and I would invest through him if I wasn’t so busy investing for myself![wink4]
Thanks Julia and Felicity. The jury is still out for me re. ‘trading stock’. Have sent another email to my accountant….
[blink]Try searching the net?
Cheers,
Scotty3Hi Bernie
I looked into these units on behalf of investors a while ago. There is no real data on the true value of each unit, so unless you want to commission a valuation (quotes ranged around the $1600 mark) you don’t know if you are paying an inflated price for them. I suspect you may be because I also researched what the true rent return on these would be (after the three year guarantee is over)and if we assume rent returns will be similar to today, then they nornally return around 5% in this particular facility and in others that have been strata’d in Melbourne. Also, because of the lower non-guaranteed return, they may be quite hard to sell as the guarantee period starts to run out. Banks I spoke to did not want to lend against them either, except with very poor LVR’s (around 40% lend).My suggestion is that you look elsewhere for deals that will bring a better rental return and give you greater leverage.
I had the chance to offer them to investors (I’m a buyers agent) but declined because I thought there were much better deals out there for the same money with a lot less unknowns.
As for the growth of the industry, there is a bit of speculation going on which sounds very positive, but who knows? I’d rather seek a deal where I know what my profit is rather than leave it to chance. My humble opinion is for you to do the same, especially if you are still new to investing. Stick to something you know will return well without a rent guarantee and can be resold without too many hassles.
Don’t mean to sound overly negative, just take care…
Kind regards,
Scotty3Originally posted by SteveMcKnight:Hi,
One of the soon to be released additional features of this site is a system whereby people who know of deals can advertise them within strict guidelines which includes giving an initial outline of the numbers.
This is will be a paid service (something nominal, say $20 per deal) for the person submitting the advertisment. Alternatively people can subscribe (another nominal quartely fee) for a priority access service where they are notified every time a new deal is posted to the site.
I hope to have this released by the end of the month.
Stay tuned for more info…
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Hi Steve,
I am still finding my way around bulletin boards, and can’t find whether you have started this service. If you have, can you please tell me how to navigate to it?
Many thanks.Easy – can’t afford and/or returns are unsatisfactory where they live.
