Forum Replies Created
Oh my Goodness….we also have a property in Tassie too!!!!! My husband and I are 30yrs old and have 3 young boys and have been living out in the bush for 2 years! We have 3 properties thus far, 2 in QLD and 1 in Tassie! When did you purchase your Tassie properties? We purchased in Upper Burnie about 4mth ago and all is going great. Yes, I agree with you whole heartedly….living in the bush has its purks….my husband is a mining engineer and we pay no rent where we live and have alot of spare cash flow which is great being into property investing. We are just about to cash in our chips on one of our IP so we are very excited about that….in regards to Accountant…check out their website at http://www.prioritytaxandaccounting.com.au We saw about 30K back on holding 2 investment properties this past financial year.
Good luck with it….Hi there, We purchased a 4brm house in Upper Burnie, Tassie, 4mths ago – for 170K and just had it independantly valued this week and it has see an increase of 20K. We are happy with this gain in such a short amount of time. We tossed up between Burnie and Adelaide and went with the Tassie investment due to value for money, higher rental return and well the figures all pointed towards Tassie.
Go the Tassie Market I say, no complaints here….
Ok….I totally agree…tooooooo much money is spent on just ONE day!!! My huband and I married 7 years ago (at age 24), on the beach infront in front of 25 people who we love and still see to this day! We spent a grand total of $3000 and to this day I still have those that attended say that it was the 'most beautiful wedding' that they have been to. You really do not have to spend that much and go into mountains of debt, that is a choice we made…we also did not want to put that financial pressure on our parents to provide us with a BIG wedding. Now all these years later, we have 3 beautiful boys and 4 investment properties too…..no lingering fairytale debt thank god!!!!
Heres to prosperity now and in the future….
Seer76.
Hi there,
We live in remote north west QLD and our accountant is based in Sydney. We use Priority Tax And Accounting Services in Parramatta. They are experts in IP tax and personally we are thrilled with the advise and service we have thus far received from them. I can HIGHLY recommend them!Good luck with it,
Seer76.
oh rents on these…
$140K – $300w
$200K – 265pw
175K – $220pwCheers!
Hi all..thought I would add my 5c worth…..
1. Rockhampton – 140K – Feb 2005 – value now 350K
2. Rockhampton – 200K – August 2006 – value now 300K
3. Acton, Burnie, Tasmania – 175K – Mar 2007 – value now?All going preety good
Hi there, Get yourself a broker firstly…..someone who is a specialist in property investment finance preferably and an account who also knows the ins and out of property tax. Check if they too are investing in property…what is their personal success? Surround yourself with a team of successful people who can offer you sound advice in regards to property investing. Get your finance sorted first prior to putting a contract on a property, know where you stand in regards to this. There are a number of brokers who use this site too, see if you can sorce someone out. I think that this is a good place to begin your journey. Good Luck and Happy Investing.
Thankyou EVERYONE! Wow, it is great to have so many points of view. At this point I feel that we are going to keep all properties and start making more payments towards this debt. We actually have it structured as a seperate mortage and not as a personal loan per say, so the interest is around the 7% mark. I like the idea of the spread sheets and looking at the bigger picture – 7-10 years time…this is what we are investing for….the bigger picture and in the larger scheme of things 70K is small fry's. We just want to keep investing…it's like money for jam!
Thankyou all, happy investing.Thankyou for your reply…..yes the three properties are structured under an interest only banner. We have not lived in property 1 for over 12 mths, however we did live there and it was our ppor for a period of 12mths. I think you may be right, selling this house which gives us a great deal of leverage to continue to invest may not be the answer?
I would appreciate it if you could email me the spread sheets you suggested. My email address is – [email protected]. Warm regards.Highly creative bunch…hahaha.
No opinions on this situation????? Come on…..really would be helpful…..warm regards…..
Please give more info….where is this townhouse? How much did you pay for this townhouse when you purchased it? If you have made significant Capital gains? If so perhaps selling would be worthwhile??????? Can you increase the rent? Can you add value to this place….cosmetic makeover to sell and make a profit or increase rent do that you are not spending so much of your cash on it.
Give more info please.Agree completely…interesting though and good on those that have profited from the resource BOOM in QLD!!! That's what it is all about right? Where to next??????? Check out Tassie, Rosebury and Queentown, lots of mining interest down there at the moment, cheap houses (40-80K) with rental returns between ($80-$150 per week) ….new hospital in Queenstown….worth a look????? Know of an fellow investor who just purchased 3 cheapies in these two areas and is just going to hold them for 6-12mths, rents are covering everything….sounds like positive cash flow to me! Ok, warm regards, Cheers.
My brother bought in Mt gravat East 4months ago and took a long settlement of 3 mths. He purchased the property for 350k and during that 3 mths the house gained 40K!!! The had it valued just after they moved in, so a easy gain without doing anything. My brother said that when they where looking it was feice competition and it was very much first in best dressed. Perhaps look at neighbouring suburbs around this area. I agree with the Gold Coast areas that were suggested above, I am originally from there, especially Nerang area. Cheers and Good Luck
House and land for sure! Add value to the problem house….cosmetic reno..simple clean up. Cheers.
Hi there, We rented our ppor out for the past 18mths privately with no hassels. We are really open and up front with our tenant. I agree with all the above mentioned posts regarding checks, landlord.com etc. If you live close and can check in on the property then it makes for peace of mind. We really haven't done an awful lot during this tenants time in this house, he just direct deposits the rent into our account…its been simple and hassel free to date.
However we have another property in the same area that we used an agent for, because we left town and didn't have the time to find a tenant for etc. This has cost us about $35 per week in management fees, roughly, and I just spoke with the tenant last week and we are going to take this one over privately too now and pocket this money. The Property manager was slack and did not even do inspections every quarter!
Anyhow, its all a matter of preferance and at the end of the day we treat of tenants like clients. At Christmas we always give a bottle of wine to say thanks and out of the blue we have given movie tickets too. Treat them nicely and good things will flow. Good Luck finding the best possible tenants…..warm regards, Cresta76Hi there devo76, My husband and I live in a mining town, Glenden, QLD, purpose built by the mine. There are people who live here and who bought houses pre-boom for 20K, approx 7 years ago and now I see several houses about the community for sale. They are wanting 350K+ for these homes. These people are trying to cash in now. When I speak to anyone in our community about buying a house here, it is seen as something that most would never do, too great a risk now, the same feeling of 'What happens when the mine finishes, boom ends? Then what…ghost town!' In saying this, a young guy, builder from Mackay, has just bought a piece of land down the road and has just put 5 portable homes on it. There is a waiting list of people for houses in our community, however I personally would not purchase a home here now…exiting now would be great with returns like mentioned above.
Just talking to our broker the other day and he has a client who owns 6 properties in Blackwater, west of Rockhampton, some part of the mine has just closed and men were layed off and this guy has 3 of these properties vacant and he bought 2 of them for well over the 350K mark. Perhaps a little dicy having all your eggs in the one basket but everyones approach is unique right.
Funny enough, my grandfather worked in the Mine in Mount Morgan and for the past 40 years the town has been a sleepy town with heritage tours of the mine and not alot else. Apparently, there is some talk of the mine reopening?????????
Of course slow downs in mining communities can and will happen, its like the property market, I think you just need to know when is the right time to exit, depending on when you bought into it.
If I had a property out here and I bought it for 20K and had a rental return of $700 pw, don't think I would be selling right now anyway!
Warm regards, Cresta76Hi Gold Coast girl,
I guess the moral of the story is sacrifice, but with only positive outcomes! Seriously, looking back over the past couple of years and since leaving the Gold Coast, things have never been this Great. We left by choice, we could have bought a house in Coomera for $300K+ and been mortgaged up to the hilt however I'm glad we didn't. It was a bit of a 'Sliding Door' moment, so moving worked for us and gave us a different prespective on our long term goals.
That first house we bought in Rocky was so small and pokie, however at the time I knew that it was our vechile to greater things. We watch friends and relatives around our age buying the minimansions, all the modcons and having to work harder to afford this lifestyle…we live quite simply for now because we know that in time all this will pay off.
You do not have to move from the Goldie (or Australia for the matter!), perhaps look at a unit or townhouse..start small and work from there??????
Everyone has a different approach, moving worked for us, right time, right place…it was all ment to be!Warm regards, Cresta76
What are the figures on this deal so that we can give you further info…warm regards, Cresta
Yes! My brother and his wife just settled on a house in Mt gravatt East, they had a long settlement – 3 mths – and within that period, the house went up in value by 40K.
cheers, Cresta
