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sorry for the confustion. in houston st are two sides to the street (obviously) on one side (righthand side) there are alot of high rise apartments going up targeting southerners to buy, with a rental ability of around 330 per week (the RE agents wont tell you that its only possible during the dry season) on the left hand side you have units, which although not as flash (or 6 stories high) rent lower (265 – 270 per week) which the locals are more inclined to rent, ie lower vacancy rates.
as for web links here are some of them.
there are heaps, just search the web, ring RE agents in darwin, hit the open house inspections.
its not that hard. but again as you look around some of the suburbs, you will know what not to buy. ie ludmilla has an aborginal housing estate there (no offence) which when seen is very messy.. would someone rent there?
i dont mean to be short, or harsh, but do your homework. i did it with a months visit there last year, then searched the internet for all the stats i needed. that and spoke to RE agents.
good luck with the house hunting
shaunhttp://www.darcity.nt.gov.au/Enquiry_Counter/Enquiry_Counter.htm
http://www.nt.gov.au/ntt/financial/budget03-04/docs/buildnt/BTBNTEconOut.pdf
Lead, Follow or get out of the bloody way
where’s the canberra dinner being held?
just pm me with the details and i will attend.
thanks for the invite!
cheers
shaunLead, Follow or get out of the bloody way
i bought in darwin september last year. you only need the abs stats to tell you darwin is growing quite quickly (CG 8% last quarter, 4.2% in april). that and the nt gov sights say the same thing. i own a 3 beddy unit in larrakeyah (cbd area) and yes there are a lot going up in that area, targeting the “southerners”. i bought across the street (houston st) where i targeted local couples who wanted the lifestyle. across the street the units are targeted at tourists staying for the dry season. very risky especially since there is a 7% vacancy rate for these type of apartments. and the wet season you wont get anyone to rent.
anyone buying in darwin, do your homework very very carefully. there are some dodgy areas that i just wouldnt buy in.
the railway will see an increase in employment for darwin. families will have to move there as the expertise for oil rigs etc just doesnt exist in darwin at present. the hospital in expanding, with more specialised treatments due to take place. surely the government wouldnt spend money on the hospital if it didnt think it needed to.
just my two cents worth.
cheers
shaunLead, Follow or get out of the bloody way
i love doing no money down deals. i love the idea of not using my own money. unfortunetly eventually you can run out of equity. so i save save save for a couple of months then go looking for ips again.
cheers
shaunLead, Follow or get out of the bloody way
i am in canberra, but will be in darwin on the 7th and 8th of june. i have one IP up there and would be glad to give you any advice on the troubles i had! especially PM’s and conveyancers
just let me know
cheers
shaunLead, Follow or get out of the bloody way
in fasttrack 2, i would like to hear more on how they are doing it right now.. not 3 – 4 years ago. i would also like to hear on any new rules or variations on what they are doing different now compared to 3 years ago. that would be very valuable information, and i for one would buy it.
just my 2 cents worth
cheers
shaunLead, Follow or get out of the bloody way
i know you can buy the electronic version. its absolutely great. i play it all the time and can now get very creative with the deals, especially the shares. of note is buying 1 million shares at a dollar a pop, will crash the computer!
shaunLead, Follow or get out of the bloody way
nah, the guy is just happy getting hold of the things and flogging them off. they are just sitting on his property gathering dust.
i’ve just got to get the shed for the right price now (about 30k less than he’s asking)
oh well, i can only ask.
shaunLead, Follow or get out of the bloody way
i live in queanbeyan, and i seriously think prices are still over inflated (thank god i bought here 3 years ago). there is a brand new block of units across the road from me, been on the market for 8 months and none of them have sold, next door to me, same thing. one bedroom units being attempted to sell at 120k +, i think we are in for a large correction to the market here in queanbeyan. when the time is right, thats when i will buy in queanbeyan again.
cheers
shaunLead, Follow or get out of the bloody way
if you are looking for a quantity surveyor, look in the yellow pages under quantity surveyor. i know there are some in wagga, but i havent had to use any of them. i dont own property in wagga but my parents still live there. if your accountant doesnt understand depreciation etc, i would strongly suggest you find a new accountant.
i used the family accountant for years, until i found out he had not been giving me all the information i needed, simply because he didnt know!. as you can imagine i have hired and fired several accountants since then, and thankfully i now have a good one here in canberra.
just food for thought
shaunLead, Follow or get out of the bloody way
wrappack,
i have to agree with you on this one, if people havent done their due diligence then there will be blood. i truly hope no one from this forum gets done over, but i can see alot of inexperienced people getting hurt (the mums and dad investors). on a happier not though, darwin prices rose and 4.2 percent this month!… yay i have an ip up there
cheers
shaunLead, Follow or get out of the bloody way
dont worry about it, ive found a mob in the riverina that have them for sale, i even got a discount! for information an 8 foot shipping container is 1900 dollars plus gst. you also have to pay for shipping, but as its only 2 blocks away from my storage facility i should get that on the cheap as well. now i have to figure out how to get approval to start the business up, demand etc for the area.
will let you know how i get on
cheers
shaunLead, Follow or get out of the bloody way
i agree with you gatsby, i prefer to find my own IP’s, otherwise you wont really learn anything. in saying that i am currently in contact with russh to see what he can offer.
at the moment i am turning my PPOR into an IP (pos cashflow of course!) so am running around renovating etc.
cheers
shaunLead, Follow or get out of the bloody way
i smoke and i drink, but i keep myself on a budget, i use the rule “pay yourself first”, the money left over is mine to spend. thats not to say i am down the pub every night, far from it, once a week/fortnight and even then its to the bowling club for a couple of hours where the beer is cheapest in town. i dont gamble, i cant stand pokie machines and cannot for the life of me understand why people play them.
just my thoughts on the subject.
cheers
shaunLead, Follow or get out of the bloody way
thats right 8% finders fee, plus all your normal expenses. billfromoz expressed concerns about two tier marketing over there for ozzies, just like queensland is at the moment.
just my 2 cents worth
shaunLead, Follow or get out of the bloody way
If you have the discipline put the $100 or so it costs per month to have hospital and extras cover into a high interest account and save it for the rainy day
i agree, save the money and put it where it will work for you, should you have a big hospital bill, then just pull out what you need. thats all i do!
shaunLead, Follow or get out of the bloody way
i have used the 100 offers to find one theory, and it is very time consuming, but i look at 100 properties find maybe 5 – 10 that fit the criteria then make an offer, never low ball but certainly has to be pos cf. i’m finding it very hard at the moment in nsw, but then again i havent been looking too hard. am off to SA to have a look see there, i know of a town or two that still has them. i guess if you are genuine in your offer (i always have pre approved finance letter with me) then normally the REA are more willing to help you.
cheers
shaunLead, Follow or get out of the bloody way
i know of one agent who does that here in canberra, in fact they dont sell houses at all. just do rentals. from what i understand they are great to do business with.
i guess you just have to ask around on this forum, for the area you are looking for a PM. someone here is bound to be able to answer you.
cheers
shaunLead, Follow or get out of the bloody way
just be aware, that for fully furnished ip’s the REA will charge you more for property management.
i have a fully furnished ip (not a holiday rental)and it does not have linen, cutlery, rugs etc. just lounge, beds, dining table, washing machine, dryer, dishwasher. i dont think i would be game enough to put cutlery etc in, as they would eventually lose it (using the two socks in the washer only one comes out theory). so i dont think it would be worth the cost
just my two bobs worth
cheers
shaunLead, Follow or get out of the bloody way
i had a look at them, and they do seem pretty genuine, i havent bought any property from them, as i spoke to billfromoz about it and they charge around 8% finders fee, and although they will help you with your due diligence, according to them the properties go so fast that you wont have time to actually see them before signing contracts. that and the fact that you will still have to go to nz to organise finance.
in saying that, if i knew someone already in nz, who buys property then i would be more willing to buy from them.
cheers
shaunLead, Follow or get out of the bloody way
