Chelley, are you self managing from overseas???

Mum, If it was a good development site in a good location, and you wanted it only for reno/rental, then really, you were never even in the race.

In this present market, most areas of australia I think are overpriced.
Traralgon and warrigal are both showing good increases in population and rental demand and as such I think represent good value and good prospects for the future.
Go down there, look around andform your own opinion.
Pay no attention to negative comments by those with an…[Read more]

Born in Traralgon in 1966 to Greek migrant parents who settled there in about 1960. Moved to the big smoke (Melb} in 1990. Married in 1992 and bought PPoR in Doncaster in 1994. I still live there with the wife and 2 boys.[biggrin]

My parents did a stupid thing. Virtually gave away (low market at the time) a whole bunch of terrific assets bringing in big yields in pursuit of a crappy pension.
Although, your parents with their land in WA maybe best to sell now before the market goes backwards, if they intend to sell at all.

Hi AndyM.
Good luck with the new baby and your situation. Many good pieces of advice have been given, I’m sure you’ll get through OK.
Slightly off topic, people considering purchasing in booming markets at the moment should pay particular attention to this post and how you can PAY WAY TOO MUCH for property under frenzy conditions.

Sneaky buggers!

Sorry, but some of you Perth folks are starting to sound a bit unrealistic.
Resources booms, stronger demand, etc, while these factors do have an effect, the plain and simple reason prices are rising is that you are now being hit by the same property boom that hit Syd/Mel/Bris/Adel/even Hobart some time ago. No resources booms over here…[Read more]

In Victoria, all electrical work to fixed wiring systems must be carried out by a licenced electrical worker, and a certificate of electrical safety must accompany that work.
As far as I know, there are no exceptions.

I dunno about NZ/US other than what I’ve read here and elsewhere, but wouldn’t any eventual profits be offset by very high travel/accommodation costs and any other distance/discrimination issues eg. poor service/overcharging?
It’s just hard to see how this could all work so wonderfully from such a distance or am I too critical?

I have been and will continue to invest in Traralgon as the basic fundumentals of property success are there, in my opinion.
These include strong population growth, good rental demand, v. high average incomes, excellent and improving infrustructure, proximity to Melbourne (1Hr. 40min easy drive), low entry price, huge potential multi billion…[Read more]

I’m not a builder either, but a brick veneer house is really just the same as a weatherbord house. They both have simular timber stud framing etc.
The main difference is that the WBoard house has stumps around the perimeter and weatherboards/or other cladding fixed to the outside of studs, forming the external lining.
With the BV house, they have…[Read more]

9 IP’s + 1 PPOR, about 27 percent.

Hi Renand.
Make sure you check with other real estate agents in the area as to the REALISTIC rent that can be achieved with this type of property.
Good luck.

Not sure but that “law” sounds like a load of crap to me.
Tell him that you have to get fair market rent on your IP, whether with him or with new tennants.
This cosy arrangement (for him) must stop.
Good luck!

If you really reckon that they are a good set and that you can make them work ok/ ie.potential for improvement etc. why not make an embarrasingly low offer of say $820K and see how you go?
They can only say no.

Hi Redwing,
I’ve got a 2 bedroom unit which I went through the process of fully furnishing. Initially it was unfurnished and was renting for 220/wk about 2 yrs ago. Since I had it furnished I went through an awkward holiday letting phase, but eventually put it back on the permanent letting market about six months ago.
The agent said that 300/wk…[Read more]

I would agree with the JPM estimate that some cities are very overpriced.
True, new infrustructure, economic and lifestyle factors can cause a suburbs value to rise/fall.
Supply and demand vary from area to area etc. You can talk about that stuff all day.
What is the real reason for rises in prices in the last 5-10 years? Three words.

LOW…[Read more]

In my opinion, there are no suburbs in Melbourne worth investing in (for an IP).Prices way too high. Yields too low and prices I think are more likely to steady/fall rather than rise. My opinion only.

Hi all.
I remember hearing about how super expensive property in Tokyo was about 10-15 years ago and it seems this has been followed by extended periods of zero/-ve price growth.
Interestingly, I was reading something the other day which suggests that now some of the Australian cities are now becoming some of the more expensive in the world.
Does…[Read more]