Thanks guys but these aren't exactly the calming words I asked for – leave the facts out of this blog please….What I think will happen with all this is that rentals are going to rise significantly.I've never seen a more perfect storm on this front:1. Construction of new housing/units down – this has started already2. Job prospects look better -…[Read more]

Thanks for the input.I'm not actually talking directly about retirement – more stop working for someone else – I'm only 44 at the moment.The investment advisor is probably good advice – even just to bounce some ideas around.I'll check out the website.ThanksThe Bish

HiThats a keeper Garg in my book unless the following are issues:1. Its a dud property – Lemon. eg leaks water – costs a lot to maintain.2. You really really need the money to upgrade – eg if you were considering buying a house and you needed the cash from the unit than sell it.As a general rule keep properties and don't sell – thats my plan…[Read more]

I would definitely buy the mixed use – the value of a property should reflect its potential usage – eg in respect of zoning in this case – mixed use zoning having a higher value than residentialCheersThe Bish

Thanks for the feedback and input everyone.I think I'll be making sure this is all incorporated in the rental agreement when I get the next change over in tenants and make sure the agent follows through.If water charges are going to increase faster than rent going forward I want to make sure my net return isn't impacted.Thanks again

Hi – It may be worthwhile checking the web sites of Chinese Agents or some of the Chinese newspapers. If your in the area drop in on some of the agents in that area – I'm sure a lot of those properties won't be on Domain or RealEstate.com.Finally, drop in on Joy Luck at the Dixon Street Food Court for a feed of the best King Prawns and Black Bean…[Read more]

Check whether you can make any repayments against the loan at all – some loans do allow for some level or repayment each year.

Hello gmh454Interesting comment!! I haven't seen things this depressed for quite some time. As usual though the media tends to blow things a bit out of proportion – we do still have full employment.The next year or so is going to be very interesting, if employment takes a hit look out for some serious bargains in real estate.My only regret is I…[Read more]

HiI've recently used Childs Property Services in Sydney for Building and Pest inspections – Cost is $475.What I especially like about their reports is that they include photos and provide less of the general property info that fills up other reports I've seen.Good LuckTheBish

Hi SteveUnless you are in a bad position re cashflow I'd hold on to this property. Sure, you probably bought it at the wrong time but I'm looking at Central Coast now and I am starting to get a bit more positive on the outlook for growth.If you sell now you'll also burn a lot of cost on fees to agents etc – and lets face it who wants to feed those…[Read more]

Hi Rick

Couple of pieces of advice:

1. High rise apartments have small land content which will stifle growth but if it has water views then this may help (unique feature – then again plenty in SP).

2. I’m in Surfers right now – plenty of apartment building happening at the moment which will put a damper on growth going forward.

3. Any probably…[Read more]

HiGreat to hear the thoughts of Steve and Michael – love the books too guys.I live in Pymble Sydney so I know a bit about the Sydney market. Around Pymble, upper North Shore things are pretty hot at the moment (see stats Pymble/Gordon), but its still a bit patchy even when you look at other suburbs in the area – eg Roseville.In general I think Sy…[Read more]

Hi CarlinSorry to hear about this. I know how frustrating it can be as the same thing happened to me – just about to exchange and surprise surprise the agent pulls another buyer out of his #$%&.Anyway, what irritates me a little about the whole real estate purchase thing is the cost incurred before you even know whether you have secured the…[Read more]

Melbourne is really interesting as it looks to have gone from no growth to 10+% growth generally in one year.Probably still opportunities but does this reflect the huge number of investors now in the market – as soon as people even think there is going to be growth they buy buy buy.

Agree totally with the last response, because for years I "treaded water" also then I worked out what I call my 10YP (10 Year Plan) and a lot of things all of a sudden became more focused.I started by working out where I wanted to be financially in 10 years (that was back in 2002) – ie in terms of annual income from investments. My main goal is…[Read more]

HiFrom a purely capital growth perspective I think Newcastle is looking pretty good over the next 5 years or so for the following reasons:1. Major hub for coal exports.2. Newcastle is changing – its becoming a lot "cooler". Govt has done a good job in the city close to water.3. F3 is being upgraded making transport access to Sydney easier. Also F3…[Read more]

Hi AnthonyYou actually haven't provided enough info here for me to be able to say whether this is a good deal or not. However, if it were me I'd check comparative sales. Check out how the price compares to similar properties in the area – agents will normally have this info.Future growth is most important – I assume this is a house, if so great,…[Read more]

HiYep, I bet your one of many in this situation so your right – don't give up.One suggestion would be to try and understand his underlying concerns about property and then try and suggest some solutions to those issues. His concerns may be based on a previous bad experience or family values.Perhaps you can start with a small purchase to start with…[Read more]

HelloI'm no expert but I would have thought you do not need council approval as you are not changing the footprint – just internal modification.Cheers

Hi

I’ve been looking at a couple of areas around the Central Coast. In general I think that market is right at the bottom of the cycle and is starting to go through the rental adjustment phase which is obviously well over due. So in summary not a bad time to buy but don’t expect great capital growth in 2008.

Areas I’ve looked at are Shelly Beach…[Read more]