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  • Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 25, 2013 - 10:14 am

    They have this info on reiwa.com.au I'm pretty sure. Logically they'd have it on the other state sites as well. Look under the market info banner along the top and there are a few different rental analyses options. I'm on my iPad and am unable to access to take a look but check it out to see if this is what you're after.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 23, 2013 - 11:37 pm

    I did wonder about this. I’ve contemplated making a lump sum contribution to cover any reno or paying for it out of my own pocket depending on what is allowed obviously.

    Any reno would only be aesthetic, say $5k max hopefully. Plus whatever it costs to put up a coue of walls. I know a couple of ceiling fixers and chippies so I don’t envisage this to be a huge cost. I may be wrong though I’ve not looked into it much yet. As I said these ideas are only in their infancy at the moment and I still have 6-12 months to solidify an investment strategy.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 23, 2013 - 11:21 pm

    Thanks everyone.

    I’ve definitely git a lot to think about before making any decision but I think short term I’d prefer to focus on maintaining my lending eligibility which will go out of the window if I become self employed.

    I may revisit this idea in 12-18 months.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 22, 2013 - 3:35 pm

    I haven't read Steve's other books, only the first one, but I found it lacked detail on how to actually execute the minutiae of his plan which is where the real magic would be. Broad unexplained statements which on the surface sound confusing and therefore plausible but when you look into it…we'll I haven't but nevertheless the detail about his exact methods is definitely lacking. I think unless you know how to do it or have an advisor who knows his methods you'd be hard pressed to replicate his performance.

    Correct me if I'm wrong oh-learned-ones :-)

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 21, 2013 - 12:51 pm

    Diversify, diversify, diversify.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 21, 2013 - 12:43 pm

    I’ve thought of doing this recently although I’m not in a position to do it. I’ve known various working migrants and uni students over the years who’ve stayed share housing. This would work particularly well for fully furnished places I reckon, though one would assume only in the more densely populated areas rather than fringe suburbs.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 19, 2013 - 12:04 pm

    Ugh…sounds way too hard with the odds stacked against me.

    Better to focus on building a property portfolio with the aim of no longer working for the man at 40. Seems doable. My job is cushy as so I don't think I'll find anything that pays as well with the same work life balance. I hadn't even thought of the longer term impacts of lost income.

    My finance approval is due tomorrow for my ppor; come on the first step!

    Thanks all.

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    @tommytucker
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    November 19, 2013 - 11:59 am

    I watched the Sydney Olympics :-)

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 13, 2013 - 2:41 pm

    Gladstone…ouch. I went to Qld on a whim last year to meet a property developer and he was still talking about it; I can't remember if it was good or bad though. He was more focused on Toowoomba and Lockyer Valley.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    November 13, 2013 - 10:51 am

    Just waiting on finance for my ppor in wanneroo. Not strictly an investment but I chose it for all the same reasons.

    It’s currently going through rezoning, same as Craigie or Quinns Rocks a little while later. I was looking in Craigie originally but I found the prices there unrealistically high.

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    November 12, 2013 - 7:25 am

    I just happened across these guys from Perth. From a quick glance they look awesome. No idea on prices etc yet though…

    http://www.ausco.com.au/housing/

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    November 11, 2013 - 12:51 pm

    I've not purchased using one but I toyed with the idea a while back. I'm sure it varies but the guy I spoke to based the fees on the budget you put forward rather than the actual sale price. It was about $11-12k on a $450k budget I think.

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    November 8, 2013 - 6:59 am

    Good question.

    I’m thinking I’ll go see a financial advisor shortly to see what the best plan of attack is regarding mortgage offset accounts and then also query whether it would be better putting a granny flat on my ppor to increase rent or to sell as soon as I’ve renovated it…then I’ll run that advice past my accountant for good measure.

    Profile photo of tommytuckertommytucker
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    November 6, 2013 - 3:52 am

    Is this sort of thing actually possible in a normal scenario? I've seen this sort of thing bandied around and always assumed it was sales puffery.

    If it is possible I'm very intrigued…

    Profile photo of tommytuckertommytucker
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    November 5, 2013 - 4:20 pm

    Yeah I’m stoked with the loan. It’s through investec who specialise in doctors and accountants so they are a bit more comfortable with lending higher LVRs.

    I’m living in the house so I’m not factoring in any holding costs as I’ll literally be paying $200 a month more, and given I’m paying under market value rent $50 extra a week would likely come my way at the next rent revision.

    No CG tax as I’ll be owner occupying and $15-20k selling agent and $10k just for giggles.

    I have no doubt the reno budget will go over. I’ve factored in 20% contingency to bring it up to $22k but I’m quietly confident as my father in law has been a building supervisor for 30 years and he reckons $10k will be plenty. So I’m not experienced but I have experience on my side :-)

    I think if I get to the point where I’ll be making no money from selling I’ll sit tight. It’s a reasonable place to live so the mrs won’t complain. Once we’ve settled I’ll start a weblog on here with photos and expenses etc

    Cheers.

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    @tommytucker
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    November 4, 2013 - 3:01 pm

    Colin, are you saying that you previously sold for the gain and now are of the buy and hold persuasion? I'm still struggling with the idea of being able to realise as much gain in the same period of time (short term) with a simple buy and hold strategy. See the below post.

    https://www.propertyinvesting.com/forums/general-property/4349149

    Profile photo of tommytuckertommytucker
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    November 3, 2013 - 3:38 am

    Not getting the right advice. I jumped into a subdivision deal which would have turned out ok however I didn't know what I was doing, how to do it, nor what to do. 

    Lesson learned, spend the money to get the advice of a town planner or whomever it may be then engage someone to help if you are unsure of the process.

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    November 3, 2013 - 3:30 am

    Can you put a driveway connecting the existing driveway to the new house in front of the existing house? You might be able to include this in the land content of the proposed block.

    Talk to a town planner or project manager, they're well worth the money spent to get the right advice.

    Profile photo of tommytuckertommytucker
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    @tommytucker
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    October 30, 2013 - 10:29 am

    Thanks Colin.

    I've bought the place through Adam and Dee Peacock, Joondalup Property Scene. They seem very helpful and open so far. They're both ex-cops so that stands them in good stead.

    I've not had any other dealings with them. Every other agent seemed stock standard and we really only saw them at homes open, so nothing out of the ordinary to report there.

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    October 29, 2013 - 11:00 pm

    I bit the bullet and bought a bottom of the market reno job in Wanneroo. It was inside market prices so no discount to the average but still very reasonable. I've seen one or two places going cheaper in the same suburb but they were sold before I could even check what the agents phone number was.

    Thanks for the comments people.

Viewing 20 posts - 41 through 60 (of 68 total)
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