Forum Replies Created
Thanks tbsuper2
Thank you for your response. Since writing, we have decided against this sort of investment as the outgoings were quite high and the retuns were not as great as expected. Even though the property will rise in value by the time it is built we couldn’t be sure that we could find a buyer that could come up with the 40% deposit. Thank you again for all you help everyone, and hopefully the right investment will come my way if I keep looking.
Julie [thumbsupanim]
By the way, this is an “off the Plan” Hotel so we are hoping that by the time it is built it will have gone up in value. All hotel rooms have ocean views. It looks good on paper anyway!!!!
Thanks again.
Julie [thumbsupanim]Hi Depreciator,
The investment I am looking at is a hotel room in a 4.5 star hotel. It is situated across the road from a beach and it is the only hotel that will be on the beach. There are only two other hotels in the area and they are both quite old so I would hope this one would do quite well because of location and of availability of new hotels.
What is the difference between hotels and apartments???
Someone told me that when you claim depreciation it has to be paid back when you sell. Is that correct???
Your help would be great appreciated!!!
Thanks
Julie[thumbsupanim]
Hi,
I am in the process of getting a hotel room/apartment and was wondering if you thought It was worth while since you already have one. You said that it was a +CF. Are the returns reasonable? I have done many spreadsheets to predict what the returns will be but am finding it hard as I dont know what the running expenses will be. Ive been told to expect between 33% to 50% total, so Ive done my working outs on 45% with an occupany rate of 50% (worse case I hope). Obviously every hotel is different, but can you give me an idea of running costs. We have also been offered 6.5% nett return for the first year or we can go in a pooled income. What option sounds best?
We are going thirds in the apartment room so I am only going to need to put in a 12% deposit and 65% will be a joint loan. Did you get your loan through a bank?If you have any thoughts or information that would be of help, I would greatly appreciate it.
Regards
Julie[thumbsupanim]
Hi Depreciator,
Thanks for your comments. No-one has told us that you can get a depreciation of 4% for short term travellers provision but we have been given a depreciation schedule by Depro for Capital Works and Plant Allowance. Can you claim these two?
Regards
Julie [thumbsupanim]
I have got my eye on a property in Clarkson that is a reno. Cant get through to inspect as owners are doing some work to clean it up – and it needs it from the look of the outside. I thought this would be a great way to get a property under value but it is on for $270K and still needs work. The prices in Merriwa have sky rocketed also – all around the $270K mark. I will keep my eyes and ears open and stay positive. Thanks again for your response.
Julie [thumbsupanim]
Hi Wayne,
I have looked at land in Somerly – last release prices were $161K, im sure the next release will be around the $180K and rising. The propblem with building, like u said is the price increases and the time frame involved. It is taking so long for a house to be finished these days. Mindarie is a bit out of my reach unfortunately and in Quinns they are gone before they are listed. I will go and speak to some agents and get their thoughts and ideas. Thanks for your help and good luck with your house – Somerly is a beautiful area!!!
Julie[thumbsupanim]
Hi,
I too am from the northern suburbs and have been looking for a IP around the Clarkson area. With Somerly nearby and all the infrastructure that is there do you think this a good place to buy. This is my first investment property and feel comfortable buying something closerto where I live. (maybe I need to get out of my comfortzone) Prises have risen quite a bit as Wayne has said, but will having new houses around it be better for Clarkson as a suburb or worse. (people would prefer to rent in a newer house etc)….. I’m getting a bit frustrated as every week the prices seem to go up and up. i dont’ want to wait 12-18 months for things to level off and im not really in the position to buy in QLD (as I cant view the property etc) although I would like to.
I have considered buying a unit closer to the city but feel that a house with land is a better long term option. Still wouldn’t be a +CFP though.
If anyone has any thoughts or ideas I would love to hear them. Thanks again for all your posts!!!!
Julie [thumbsupanim]
Hi LA,
Just thought I would let you know that friends of mine that live in Mindarie just sold their property themselves. Had the first home open on Sunday and was sold on Tuesday and they still had people ringing them to buy. It is going crazy in Mindarie at the moment so take the chance and sell it yourself and save $$$$$$. They used a good settlement agent who took care of all the paperwork. Seems quite easy to do. They made there own signs etc (didn’t use comfree etc) and probably cost $200 all up.
Good luck !!!!
Julie [thumbsupanim]
Thank you again Derek.
I am glad that my thoughts on the WA market arn’t alone. I am a bit worried about the property market here at the moment so I too might start looking somewhere else where the boom is yet to come. Thank you for your respone – it is valued highly[thumbsupanim]!!!!
Regards
Julie
Hi Matt,
Like you I am new at this but given that you are young and starting out you are already ahead.
I don’t know whether you have factored in the 1st home owners grant and I think you dont need to pay capital gain either up to a price ??? If neither you or your girlfriend have bought a property before you are both eligible I think (unless you have been together for longer than 21months) or something like that. I dont know how accurate my information is but if what I have been told is true then you could both purchase a property each but you would have to live in them – maybe look for a couple of units and live next door to each other. I think it equates to about a saving of $15,000 which is huge when starting out.
Please let me know if I am wrong anyone out there……
Hope this was of use
Julie [thumbsupanim]
Hi Derek,
I would just like to thank you for your comments on propertyinvesting.com. I have been reading the forums for a couple of weeks now and have found that you have been able to answer the questions that have been in my head (not game enough to post it on the forum) and when you are starting out you do have ALOT of questions. I was also looking in the areas around Perth CBD but found the prices high and rents low. I am very keen to purchase my first property as we have quite a bit of equity in our home (and it is burning a hole in my pocket). I will keep my search up in the areas close to the CBD but also look a bit further afield as suggested by you. Thank you again for you most valuable posts!!!!
tajee – Julie [thumbsupanim]
Hi Kelly,
I am, like you, just starting my property investing journey. I also live in Perth and looking at areas within a 10km radius. As Derek stated, the rental incomes arn’t great so there are not many properties around that come close to +CF. I am an optimist and I’m sure you will find the right property. I am also interested in any seminars that are being held over in the west but haven’t found any as yet. Good luck in your search.
Julie[thumbsupanim]
