units4me wrote:

Cargill wrote:
You say you would prefer the south or southeast of Melbourne. Can you say why? Virtually all of the resources of the city are north+west of the Yarra River – commerce, entertainment, transport, hospitals, education, shopping, arts, etc – very few of these are out south or southeast. There isn't really a…[Read more]

Keilor Downs/Taylors Lakes are about 14km from the city. Lots schools, shops and only takes about 15-20 min to get into the city via the tulla. Very low crime rates in the area and houses re relatively new. However for 300K you're probably more likely to get a large unit instead a house. Closer to the 350K mark you'll e able to get a nice house…[Read more]

It's also very hard to get a valuation for diamonds. It depends on a lot of different things. The weight, the clarity, the cut etc etc. Any one of those things can either increase or decrease the value of he diamonds. Gold or even silver on the other hand is straight forward. You just have to weight it and you know the value.

Wow, sounds like you got lucky and a lesson well learnt. If I was you I would continue looking at things that you can develop and what it is going to take and cost to develop. Most importantly, try and find out how other people have f#cked up. It'll just better prapare you when you get an oppurtunity to do it yourself. In my planning I am making…[Read more]

We're definitely in a rough ride at the moment but I still think Australia is much better positioned than most of the western world. So the devastating housing chrisis in the US and massive price dive in the UK will not happen here. I would expect a very moderate decline in house prices by the end of the year. Possibly between 5-10% overall…[Read more]

You don't have to "move quick". Relax and take a deep breathe, Lol.You obviously haven't been looking at properties with a serious intention to buy for a very long time. If you did you would have had your finances sorted out and you would know exactly what you're getting yourself into. Besides, it's not the last good deal to ever come along. In…[Read more]

SHale, is this house in a new estate or an established area? I assume the house is in an established area which doesn't have many renovated houses. A high number of renovations usually takes place in areas where urban gentrification is taking place and the main factor that is driving up house prices is the fact that the suburb is becoming a more…[Read more]

Hi Mliew, So your thinking about a shift from Oak Park to Noble Park? That's a pretty big leap across town, well for me it would be since I'd be totally separate from all my family and friends. Would you be as comfortable with this move compared to where you're living now? You mentioned that Noble Park will be a major activity centre in the 2030…[Read more]

I think there is also an "emotion" factor when people go to bid on a house. Some people just want  particular house that badly that they are willing to pay almost any price to get it even if they know they are paying too much. From my experience in going to a fair few auctions over the past few months it is typically the houses that are on nice…[Read more]

Also, I have never enquired to a council about moving main sewer lines but I would imagine it would be a definite no no. and even if you were to pay for the works yourself I reckon it would be in the tens of thousands of dollar.

I would stay away from the house if your planning on utilising it for units. Look around and you'll eventually find plenty of properties that don't have easements running through the block. By the sounds of things there is no way of building units with the sewer lines in their current position. You'd be better off paying a little extra for a block…[Read more]

This sounds like a scam!

I was actually at an auction last week in the old/original part of Kensington. A very nice 2 bedroom house got passed in at $360K and sold immediatly after the auction, presumably for $380K-390K. The house was already getting $350 per week rent and could probably be boosted up to $370 or $380 with a new kitchen and some minor cosmetic works…[Read more]

What about stumps that have been eaten out by termites? Are they also bouncy or do they remain strong? I'm not sure whether there are any tell tale signs by looking at the condition of the inside of the house, but this house seemed like it was in pretty good condition internally. No cracking in the walls and the floors seemed reasonably even for…[Read more]

I have just looked at a few pictures on Google and I would say that it is probably closer to termites I think. There were small cavities throughout the weather board. It looked like termites had dug tiny tunnels throughout the wood. Does dry rot look like this or does it have different characteristics.

crashy wrote:
offer your services for free to other people doing renos, get work experiencealso try to get a job as a trades assistant for a tradie

I've actually thought about doing this but I would be restricted to only working on weekends as I have a full time job throughout the week. Not sure if tradies would even need anyone just on…[Read more]

Hey guys, really appreciate your responses. My aim is to buy something that does require a basic cosmetic enhancement, however it does expose me to additional competition from other buyers as there will also be a sizeable pool of people that will also be prepared to do the same thing. I have been inspecting properties and researching houses for a…[Read more]

I don't have an investmet property in these areas, nor have I lived there but I have been watching these areas closely over the last 9 years and they have had exceptionally good capital growth. I think Footscray and West Footscray are priced around the same as the Melbourne median price while Yarraville was once well under the melbourne average…[Read more]

god_of_money wrote:
I don't think it will be going up by 5-10% in the next few years.. in fact the opposite or stagnant.

I was thinking the exact same thing! The buyers have all the power in this market. As much as I'd hate to pay LMI, I would probably go through with a buy if I thought it was an incredibly good deal with the potential to…[Read more]

^^^That sounds like a very awesome deal indeed. Good work dude! I'm being as vigilant as I can in my property research. i'm looking at all the factors you have mentioned but still haven't come across anything that isn't a pretty standard deal. Another main factor I'm looking into is rental income. My target is 5% of the property value each year,…[Read more]