Forum Replies Created
Hi Mitchy,
First of all get yourself a good mortgage broker and ask them about using deposit bonds. You pay a premium (like insurance) and they put forward the deposit. The premium is not refundable but is tax deductable…….or scrimp, borrow from relations and offer them interest on their money. Hope I’ve helped.
sq
Hi guys,
These country towns (WA I’m talking), can provide a good foot in the door for the new investor looking for both confidence and pos cash flow properties. My very first investment 3 years ago was a $40,000 Fibro house in a small country town. At the time it was all I could afford but determined to get into the market and gain some insight I grabbed it. OK the capital gain is minimal, but it is never untennanted and its provided me with knowledge and confidence and the drive to move again and again!!! 3 years on and I am looking at buying property number 7. All I can say to any newbie is some of these country towns actually have a shortage of rentals and more than one industry!! Look outside the square its amazing what you will find. Good luck.
sq[baaa]
Looking at an “off the plan” apartment at the moment and will be selling a couple of our investments off this year. What I thought would be a very tight year may not be after all!!
good luck all
sq
I think the West has definately got more legs Dazzling, lots of money around the place, lots of well paying jobs up in the mines!!!
Go the WEST…….sq[biggrin]
Hi Dean,
I saw a block in Midvale 501sqm in close proximity to ours for $129,000 in the Sunday Times, so I’m thinkin it may be better to subdivide and sell off individually, especially with the asking prices of land at the moment around Perth. Woodbridge Estate Land Release asking $150 – 175 for their blocks……it makes a Titled “traditional” lot at 501sqm walking distance to Midland Gate attractive don’t you think? I actually think $129,000 is too cheap!! Thanks for your reply, you are probably close to the mark with what a developer may pay, so may have to go down the subdivision path – will ring around to a couple of developers.
SQ
mmm interesting czerney!!! I rang DOLA today and yes they were very helpful. Still considering subdivision, but wondering if anyone had any comments on whether to sell the land as a whole (advertising the subdivision potential), or do you think it would be worth more once subdivided and then sell off each block separately?! I would be interested to get some feedback from forumites on this.
cheers sq[biggrin]
Thanks to all who have given advice to my question….still debating on what to do with this block. May just sit tight for now – WA is lookin good and the value’s in the area are increasing out Midvale way due to the Midland Infrastructure. Also I heard that a major hospital is to be built on the old railway site in 2008, so thinking of hanging out a bit longer!
Merry Xmas
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Hi guys,
Mum born in Australia, Dad born in England – his family moved to Aust. when he was little. Me born in Australia – what a great country we live in hey!![biggrin]
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Wasp,
Midvale/Midland border!
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Sold one recently to help buy more!
kp,
Give her a call – you’ll soon know if she’s right for you. I do know she does low docs – couldn’t tell you about trusts though.
sq
Helen McCoy at Link Mortgages is my pick! Her mobile number is 0418909611. She’ll look after you! [biggrin]
sq
Hi Newone and welcome,
I assume you are meaning the Capricorn development with regard to flipping. There is a clause in their “Special Conditions” which states that you must settle on the land or they have the right of re-purchase. I have noticed in some of the other land releases around the place that they don’t go to that extent to cover themselves, so that leaves it open for us to flip
sq[biggrin]
Just looking for advice on “Power of Attorney” when it comes to buying property on someone else’s behalf. I did ring legal aid in Perth yesterday so I feel that I do have enough information now to move forward…thanx anyway
sq
I’m also between basic and intermediate….No properties interstate as YET!
sq
Hey Regrow,
I asked the Land Vendor today if I could represent someone from the east and fill out all their details, even give a deposit and they fax the contract to the buyer. He wasn’t very helpful – said NO!
Thinking of signing as me and/or nominee him but need to find out if I can remove myself from the contract at any time before settlement and how?! I may even get him to fax me a Stat Dec stating that he agrees that I be removed from the O&A prior to or at settlement. Its a tricky one, maybe Power of Attorney is the way to go – How much does that cost and is it easy to arrange in a hurry?
thanx SQ
Thanks for your help folks,
I will be speaking to my Accountant in the coming weeks and will probably need to form a company.
Gross – we are a little different in the sticks!!!! Rules are also a little different!
bye
sq
Hi guys,
I agree this is an excellent thread especially at the moment as its difficult to get good contractors (in Perth I’m talking) with our current building craze!!!
The bobcat guy, Dazzling – where is he located and does he do the whole metro area?
thanx
sq
Hi Richard,
I think we may be going for a simultaneous settlement date if we do choose to go down the path of onselling. Thanks for your info, much appreciated.
sq
Hi all you lucky Lindsay Beach people….
I registered for “The Reef” a few months ago and received the Stage 2 price list a couple of days ago….can’t get the smile off my face. Same size block as the one we bought in Lindsay Beach -$199,000. Come on Yanchep!!!!!!
sq
