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  • Profile photo of tony wpbtony wpb
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    February 13, 2007 - 12:56 pm

    These people who are pathetic with their money are our tenants!!!!

    KEEP INCREASING YOUR RENTS

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    Profile photo of tony wpbtony wpb
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    February 13, 2007 - 12:45 pm

    Hi lbergin,

    I dont believe there are any tricks. Although be careful on this site, you need to determine what is best for you.

    Ask yourself a few questions? Who are my tenants?Where are they coming from? Where do they want to live?

    It is no suprise that the next shift is to Melb/Syd CBD’s. All of the idealists dont want to admit it because they dont personally like apartments but that is the future ,like it or not.

    It is possible to have +ve geared property in these cities and they aren’t likely to face a shortage of population. The same cant be said for regional areas. Personally i am targeting Melbourne, Richmond (vic) , Collingwood (vic), Footscray (vic),Castle Hill (nsw) and Sydney

    regards

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    Profile photo of tony wpbtony wpb
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    December 26, 2006 - 1:29 pm

    I always find the mathematical equation of 10.4% amusing. 10.4% of what? Am i the only person that reads this and laughs?

    e.g 10.4% x $100K = $10.4K

    and…

    10.4% x $400K = $41.6K

    The reason it is irrelevant is the expenses and not relative to buy price. Rates of $1200p.a is over 1% for the $100K property and less than 0.25% for the $400K property , also the hot water service costs no more in the more expensive property, the plumbing maintenance etc.

    My point being you can’t base your numbers on a percentage, it should always be calculated to a dollar per week. Dont assume a property is CF+ because of the percentage, also always consider the age of the property and the local demographics. A low demographic area will trnslate to higher maintenance on your property , ia m speaking from personal experience

    Happy investing[exhappy]

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    Profile photo of tony wpbtony wpb
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    December 4, 2006 - 2:34 pm

    Hi CrownofGold,

    Australian Property Planning is one of my companies competitors and i have only heard good things. They have been around for a long time which is a good indication. Always do your own research for your own comfort ,

    regards

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    Profile photo of tony wpbtony wpb
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    December 4, 2006 - 2:18 pm

    Hello Gary,

    I am not a mortgage broker , however i can highly recommend a Melbourne broker , they are based in Camberwell . They have investment analysis software , and specialise in investors. Contact details are 9882 3400.

    cheers

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    Profile photo of tony wpbtony wpb
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    December 4, 2006 - 1:49 pm

    Hello Barterman,

    the “ramifications” are the vendor is able to sue for all damages, including and not limited to legal costs. They can charge interest on the contract shortfall at the prevailing penalty interest rate, which i believe is currently 13.25% , many developers add a clause to charge an addittional percentage above this amount 4% extra is not uncommon. This amount is calculated daily , not unlike bank interest. Dependant on the name on the contract, this determines who os liable . Is it in a personal name or family trust ? There is a new loan facility that spilts the interest with 3.99% charged and 3.5% capitalised this may be an option for you . My broker has just refied a few of my properties into this structure. I am not a mortgage broker.

    I would be interested in buying , you may email me the details direct [email protected]

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    Profile photo of tony wpbtony wpb
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    December 4, 2006 - 1:38 pm

    A few tips. The most important thing to focus on , is to pay down non deductible debts first. eg. principal place of residence, car loan , personl loans , credit cards (should target highest cost and interest rate first,). Any excess funds arrange an offset account, to minimise interest costs , but still have the flexibity of utllising your funds

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    Profile photo of tony wpbtony wpb
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    December 4, 2006 - 1:29 pm

    Hi mkc,

    If this is in a good suburb i will purchase it, you may contact me direct on 0404092256 or [email protected]

    cheers

    tony

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 3:11 pm

    hi persuasionx,

    what did you invest for when you started?

    Was it cashflow or capital ?Judging by where you have invested , i would assume cashflow, this will not happen agian within the next 5 years , if you want the capital , i suggest you cash in whilst you can

    cheers

    tony

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 2:55 pm

    Hi Nate,

    you have kids . Dont change your family home for the sake of investing , it should never affect your lifestyle.

    The concept of property is all about leverage , use your equity to reinvest. Just buy well.

    cheers

    Tony

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 2:49 pm

    This is the case across Australia, it will only increase as it becomes more difficult to get places in schools. Even in outer suburbs close proximity to private or high performong public schools acheives a premium.

    In Asia it is considered an exclusive education to attend an Aussie school . I must have missed those highlights.[blink]

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 2:40 pm

    Hi Drac,

    make sure you finish your studies. You will always have that to fall back on and no one can take that away from you.

    With reading the books and talking on line , it is great to have a forum to talk to like minded people, but dont lose sight of the fact you must experience these scenarios yourself.

    Notice the highlight of Duckster was to make $70K from an 8 hr bus trip , not $50wk for the rest of his life? Think about that…

    Also i was once a sparky , I learnt a little at trade school and heaps actually doing my job

    my wife (girlfriend at the time) hated the fact that i was investing so much money into property. She got over it .

    “money doesn’t buy happiness, great comment for a poor person”

    cheers

    tony

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 2:26 pm

    Hi Foundation,

    i have enjoyed many of your posts , but many also are very negative. i do live in Melbourne , but thankfully not in the Western suburbs , because i may have to drive over the Westagete bridge (huge bridge ~ for those not aware) and would be tempted to jump.
    Has all of this built up negativity given you analysis pyralysis?[confused2]

    If you like i will post every sale in St Clair for the past 12mths to prove it is not the norm.

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 2:11 pm
    Originally posted by lifeX:

    [eh][freak][mad][lmao][thumbsupanim]

    TONY WJB, may i cal you wazza. I read your posts and thought “GEE , this guy seems down to earth.”

    Then, I found out you were a sparky…. you lazy SOB!”

    I’m an electrician too…. and hence disregarded everything you spat out your gab. You are over paid.[mad]

    [:D][thumbsupanim]

    [smash]

    Live, Learn and Grow

    Lifexperience

    Hi lifex ,

    lol with the comments as i finish off my 2nd bottle of red for the night. Warramate Yarra Valley Cab Merlot 2003 …good grape.

    Foundation,

    i am interested in your theory particularly are intigued by your thoughts on the maples (gold leafs). The transfer back to gold is a security blanket that has occured through history to protect money in a volatile market. My semi pi..ed state encourages my argumentative voice.

    We are now in the 21st century , plastic cards , instant gratification. Do you think that any of this will change your vision? Also comparing the Aussie market to offshore , USA, UK and Asia , i believe we are so far from a major blow out in pricing. Comparative to Hong Kong, London , NY , Singapore , Austaralia is cheap and a far more beautiful place(bias opinion).

    Also Rikky made a great point in regards to super money , this country is flush with money . It has become such an issue. This is the exact reason yields are so low. Comercial properties selling for 3-5% is crazy. Many super funds now have the cross hairs focused on residential property . Babcock Brown,SAITeys etc are about to launch “products ” to absorb resi property, this will only drive up the property market again , (with false growth ~ dangerous). But is gold the answer??????[grad]

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 1:33 pm

    Hi Pete,

    I have been a full time property investor for over 10 years (ex sparky). Great area to start. What made you choose Ringwood? It would be well worth looking into subdivision. Contact FR Perry and Assoc, they are a great town planning company, i can hihgly recommend them. You can contact Alistair Perry via email on [email protected] . You can mention i referred you , they know me well

    cheers

    tony wpb

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    September 5, 2006 - 1:18 pm

    Hi ogilivy ,

    what suburb is this property in ? What is the population?

    I agree with elkham and crj, you could offer a long rent free period but a premium on rent , i would suggest a 3 x 3 lease. Be very careful with commercial leases , there has been precedent law cases of non dislosure of outgoings and the tenant claiming the full rental as a compensation. I suggest using an experienced lawyer.

    cheers

    tony

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    September 5, 2006 - 1:09 pm

    Hi alotti,

    there are plenty of properties in melb and syd that are cashflow positive. You should look at close to the CBD’s , they are difficult to sell at the moment.(good for buyers) Also they are easy to rent, people are paying serious premiums on rent , there are numerous opportunities. You dont need to offer close to what people are asking. The yield is only relative to your purchase price

    cheers
    tony

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    Profile photo of tony wpbtony wpb
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    September 5, 2006 - 1:02 pm
    Originally posted by natrogers:

    Great points. Im still not sure on Sydney long term.

    However a year ago many people in here where boo-hooing Perth. I bought in anyway and am happy. Now more people here are even more concerned about Perth but don’t check the facts. I admit with many expects here. You have many people on the east coast becoming experts on Perth property but in reality they don’t live here and know anything about it. I may rub most up the wrong way here but its true?

    Let me sought things out from some one who does live here. Perth isn’t about to crash. That’s rubbish…..why?

    1) Firstly its surging on a wave of a metals boom. Somone here mentioned the metals will run out and it will become a ghost town. Id love this person to come back in 20 years…then 50yrs..then 100yrs……cause that’s how much resources are here. Its not drying up. Theres more iron ore here then anywhere in the world or so Ive read so if we run out the worlds in trouble. Id be more concerned about that. And everyones focused on oil supplys running out but has anyone read anything about iron ore? If WA runs out of metals we will crash everywhere as most other states are leaching off this resource to get by…and driving our economy and the house price above your head! Thats why many financially savy people here want to become a seperate country and stop being sucked of this enormous wealth by the rest of Australia.

    2) Affordability. Isn’t affordability the trigger for downturns? Well the average salary here is now almost equaling Sydneys….due to surpass it soon. Yet the medium house price is around $100k less.. Before deductions that’s almost $200 less on your repayments/costs on the same medium Sydney salary….sounds more attractive than Sydney to me?

    3) History. Last metals boom we had was in the sixties. Perth rose from about 60% of Sydneys house price to almost equaling it. We are still 25% shy of Sydneys medium house price. And considering experts are saying this will be the longest and strongest metals rush in history due to the Chinese long term shift in infrastructure. Would it be logical to assume it may even move further than this 25%?…perhaps…but either which way the partys not over yet. So no ones panicing here…hence why properties are up.

    I will admit that when the metals boom is over then Id downgrade my holdings but in reality this isn’t going to suddenly happen hence no sudden crash. Time will tell and history is our closet example.

    Im not buying in Sydney as its like catching a falling knife. But then Im not buying in Perth either even if theres more to come. Im a safe invester and want long terms trend to be on my side. Im holding Perth as its almost the same as investing in the Chinese economy….and no ones bothered about things crashing there (more like trying to cap it from moving too fast)

    Positive Perth Person

    Hi natrogers ,

    sounds like you are one of the WA voters that would like to succeed. I agree that there is no short term end to the resources boom, asia will continue to create massive demand. WA is a giant land mass with not enough internal consumption, it does not survive without the rest of Australia. Until WA residents get over the chip on the shoulder attitude it will never surpass NSW, VIC or QLD. No one in the rest of Australia gives a toss.

    I love WA and have never considered the seperation of the country , but when i travelled to Perth for work , i was amazed at the ‘us and them’ concept. It is disappointing.

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    Profile photo of tony wpbtony wpb
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    August 30, 2006 - 1:31 pm
    Originally posted by foundation:

    Victorian average rateable value 1891 = 500 pounds.
    – at 10% (doubling every 7 years) that would be 32.768 million pounds, or $65 million in 2003 dollars.
    – at 7% (doubling every 10 years) that would be 2.048 million pounds or $4.096 million dollars in 2001.

    Nowhere near reality.

    Hi F ,

    where is this average block in 1891 for 500 pounds , if it is in Collins St or St Georges Tce, I will buy it for $4.096M.
    [biggrin]

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    Profile photo of tony wpbtony wpb
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    August 30, 2006 - 1:16 pm

    [/quote]

    This is exactly what I have been looking for with this thread. Can someone name these lenders?

    This is a full doc loan.
    [/quote]

    Hi adam ,

    i am a full time investor and can highly reccommend this broker, call Mike Wood on 0409146817, he does loans in WA and all across Australia, he will be able to fix your problem but i doubt he will settle it in time as you will have to pay out lenders and they love retaining their loans

    cheers

    tony

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