Forum Replies Created
I have very successfully managed to invest in country properties for the past 3 years and would certainly encourage it. It is all relative and you do get some good and bad tenants both in the city and the country!!!!
good luck whatever you choose.
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Partner in my hubby’s Multimedia & Web Design business, also
do clerical work part-time. 2 boys aged 11 and 13……Goal is getting closer……..full time property investor here I come!!!!sq [biggrin]
Nah……definately don’t think your mad – makes your dollar go further and halves the risk, but make sure you sort your goals out beforehand and your both are on the same wave length. If someone changes their mind things could get sticky. It might pay to get some sort of agreement written up by a solicitor.
We invest with partners but usually not HOLDS, just ON-SELLS and so far so good!!
Hope this helps
sq
Hey Wayne/Squeek,
I would also be checking out the coastal areas between Lancelin and Geraldton!!
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Gidday,
I’m not about to give all my secrets away……but if you search google on mining western australia….you may come up with something. There are a few towns in WA that are experiencing growth due to the mining industry, some larger than others….but I assure you there are plenty to be found if you dig around.
good luck
sq
Hi Deb,
How about looking further afield……there are still some country areas in WA worth a look!!
SQ
Hi guys,
Havent been online for a while……been busy sourcing more investment properties!!!
Investing in property started for us only three years ago apart from our PPOR. I was working part-time and my husband was self employed only 2 years in to the business and no income to speak of.
Sheer determination got us through. We were told time and time again by banks that although we had equity in our own home we didn’t have substantial income to get anything. We eventually sourced an old fibro house in a small country town in WA for $40,000. A got hold of a good broker who was able to get us a low doc loan using the equity in our house and we scraped over the line.
Again investment number 2 (had to borrow deposit from father in law but saw an opportunity we couldn’t pass up) another WA country property which we reno’d & sold for a very healthy profit 18 months later.
Profit went as deposit into property number 3 in an outer suburb of Perth (a run down rental in a not so desirable location at the time)……sold 12 months later and doubled our money.
Paid off PPOR and have purchased a few blocks of land around WA in partnership with someone else. Still deciding what to do with the land at this stage.
ALL THIS FROM NO MONEY………..never ever give up, there is always a way….you just have to think outside the square.
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We’ve recently sold a property and had great success in negotiating a commission with the agent. If your selling in Perth, the ball is definately in your court and the agent really doesn’t have to do much work. They are crying out for listings and are very flexible when it comes to commission. We went open listing and wrote our own clauses on the contract which included ‘agreed commission’ and ‘termination of contract in writing by us at any time’, so we were not locked into 30, 60 days ect with the agent. We also told the agent what we expected in terms of marketing and it happened at no extra cost to us….., so go for it!!!
sq
Hi Kate,
My IP was untennanted at the time so showing people through was not a problem. It was by appointment though.
sq
Hi Kate,
I managed to see one of our IP’s privately and I found that it was reasonably hassle free. I believe you have to be very organised. I was and had a couple of blank O&A contracts, copy of title and recent rental appraisals on hand. I advertised in the Free local paper (WA – Quokka), in the main real estate paper “The West Australian” and on yourestate.com.au which is an internet site that allows you to present your home on the net at a low cost.
The only downside I can see in selling privately is that it may take longer to sell than it may through a R/E Rep. 2 reasons – The Rep can hit a larger cross section of customers and secondly I found that a lot of people were wary of buying privately.
Yes I did sell my property but it took longer than it should have!!
Hope this helps.
SQ
kp, we’re almost neighbours – Lot 62 Board Street is ours!
We havent even thought about who we are building with yet and we are still tossing around in our head double storey as well. We’ve still got plenty of time fortunately.
sq
kp,
Yep we’ve made a cool 45K so far based on Stage 4 prices, but I think the position of our block should add more value than that too!
very happy…..sq
Coming from a “Poor Dad” upbringing, I was never immersed in investing at all. You want to get ahead, you work hard and stay employed was my dad’s motto. However….this is certainly not my motto. I have a “Rich Dad” attitude now and by investing, talking & breathing investing as if it is a NORMAL part of life and spending lots of time with my children is how I am preparing them for their future. I always say to them that the reason I get to spend so much time with them is because I’m not working full time but I’m still making plenty of money through wise investment choices.
I only started on my path at around the age of 35 after realising that you don’t have to slog it out all your life to get ahead….the smart ones invest! I am now 41 and starting to reap the rewards of my investing and my kids are seeing the rewards first hand – what more of an education can they get!!
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Hi Wayne
I rang Rod thismorning at 10.00am and they were basically all sold, bar one or two! Some people camped overnight apparently in the hope they would be released thismorning (very wise!!). I was supposed to act as proxy for a guy in Melbourne who wanted one, but he missed out as I wasn’t able to get there any earlier than 10.00am.
Quite a few had potential views of public open space and ocean.
I must say with this response, I am overjoyed that I jumped in on the last release!!!
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Hi all and thanks for the feedback.
Todd I have put on the agreement that the Agents commission is (dollar amount negotiable) and I also have put on the contact that he has the authority to act as our selling agent UNTIL FURTHER NOTICE (24 hours notice only is required).
Selling privately – yes I’ve had a lot of bites, but no-one has shown any real interest. We haven’t put a sign out the front but have had it advertised in local papers.
sq
Hey A,
I think we are laughing all the way to the bank………..I rang Wayne Brown Friday and there were 4 campers there then! Its getting pretty ridiculous I think…..8 days of camping – you’d almost be classed as desperate. Anyway what release did you buy in – we bought in release 9.
chow
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Hi Stephen,
I have used http://www.yourestate.com.au before to list property that I have been selling and have good results.
Good Luck
sq
Hi guys, another Perthite hoping to cash in on our current cycle – I’ll be selling at least one this year and will be travelling along the same road as you Redwing! Top up some loans and access the equity for a couple of other projects that I have on the go. I think Perth has still got some legs with the way our economy is going and there is plenty of cashed up buyers out there, so if the opportunity arose to purchase an undervalued property in WA ‘d be in like flyn!!!
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Mmmmm I agree with Derek on this one. I’d be careful, but then again you could get lucky depending on when you sell it – hard to predict!!! A bit speculative I feel!
sq
I’d be looking at Sinagra in preference to Somerly. It all depends what you intend to do with the property though.
sq
