Freddi,

have just been looking at the unit market, 2bdr brick units (older style) selling for $110-120 renting for $150 per week.
Vacancy rate is very low (under 2%) across Cairns, sales and growth appear to be levelling.

Speak to Chris Gay from Oconnor and Gay real estate.

Tim

That’s all fine as long as the assumption that a higher commission actually provides a better service than other managers who are prepared to do the same thing for less cost.

Tim

Thanks Geoff,

have now negotiated 8.5% (3 properties), which is ok. A little peeved at also paying 10% for maintenance items too though! Does anyone else pay this??

Cheers,

Tim

Ozi,

thanks – and good suggestion re the contract.

It is a bit complicated, but I don’t have a contract, as I was piggy backing off a business that was buying, and received their discount.

Yes I have bought it – however I will be requesting a refund for quite a few reasons. Firstly I think it is too basic for a serious investor. There is no capacity to rollup multipel properties or analyse the impact of investments from your own PAYE income.

Tim

here’s another small twist 4 you …

How much are you worth today $1.2M___________

How much do you want $6M___________

What is the difference $3.8M___________

How are you going to get there …….

1) Currently need to refinance to free up equity
2) Look for trades and private investor deals
3) Expand existing property portfolio
4) Continue…[Read more]

I would be very interested in answers to this question as well. Where I am coming from is the opposite end though – what should I expect if I am putting in money (up to $100k) for private investment arragnements.

Personal guarantees? Contracts?

How do you go about securing your investment??

Thanks Resiwealth,

that’d be great.

Tim

Hi All,

very interesting post – some great reading here. Resiwealth I would be very interested in reading your works on goal setting, if you felt like sending me a copy I would really appreciate it, I am sure it is a worthwhile excercise to go through it.

Anyway, in response to the orginal question:

Target Critical Mass: $6M by August…[Read more]

Nat,

I would like to hear you support your dramatic claim with some sound reasoning otherwise – too boring.

Tim

Yes,

been there done it.

Two rules:

1) find someone you implicity trust who knows the market backwards and give them your money to invest or;

2) go there after doing due diligence and buy yourself.

There is not an easy answer to this – either way you have to put in the time or money.

Timbo

Can someone tell me why investing in UK is so good when UK are heavily investing in NZ?????

Tim

Keep it( refinance as much as possible), rent it out, move on and buy another.

Timbo

Hi Gatsby,

no familiar with income protection sorry (except for one policy with AMP) as my super is very good for that sort of cover.

Again differentiate between term and life insurance (I wouldn’t personally go for term insurance).

Agree with previous comment about the need for public liability though.

Tim

Gatsby,

your body corporate are repsonsible for taking out building insurance, but you could consider contents insurance as well.

It is worth getting a hold of a few policies and reading exactly what you are and are not covered for with both building, contents and landlord.

I have recently done this with insurance on units under body corporate,…[Read more]

Perhaps the moderators should consider a caveat empor as per other forums for this type of thing?

Timbo

Booboo,

the book:

“Investing in Residential Property -Understanding the Australian Property Market” by Peter Waxman, 5th Edition is an encylopedia of facts, graphs and tables on interest rates, inflation, price movements, building approvals, migration, supply and demand factors, government determinants, business, cycle, taxation and the economy…[Read more]

Balliez,

fantastic that you are aaking that question now. I would suggest that the best reason for wanting to know this however is so that you can be realistic and plan and implement that plan rather than wanting to ‘get rich quick’ (which rarely seems to work).

Anyway, moving away from the lecture – I would suggest that:

– roughly the annual…[Read more]

Paula,

it might help to separate the purchase from whether you are wanting a cash flow from rent or a longer term capital gain (or a mixture of both).

If you just want a rental and there is a small vacancy list for rentals (which you should be able to determine from real estate agents) then that is different to buying a house hoping for capital…[Read more]

First IP in 1991 Logan for $73k rent $130
now worth $180-200k rents for $185

Timbo