Oh, may i ask also how you're crunching numbers as well – that is what forumlas you're using? i'm trying to do some number crunching as well and wondering if there's a better way!

Hi,
I would suggest going through Yellow Pages and calling up numerous trades people and get a "feel" for them over the phone  – that is ask alot of questions and see how they respond – that is do they have any care factor?

Is the property currently rented? Because if it is – you can perhaps ask the Property Manager to oversee the renovations (rather than the agent).

If the renovations are over $10k – well – you really need to consider – would you trust someone else with $10K???

Are you selling for an investor or "home buyer". If your target market is an investor you can just paint the outside and then the "investor" can still see the potential with the house and they can finish the rest on the inside?

Also – with the tradespeople you may want to split up the jobs to different people so you're not all the cash is given to the one person/company

Anything's possible !!!

Hi,
Just to let you know that you should consider browsing http://www.hotelclub.com (Slight cheaper than wotif.com.au and allows you to check out dates further than 1 month away) – the accomodation for the Sebel Albert Park Melbourne(during 11-14th) i think is $203/night for the standard room or this is the attached hotel which has the same address Citigate Albert Park Melbourne for $145/night

I've already got a room buddy and going cheap & cheerful (& hopefully clean) at Easystay @ The Bayside Motel Melbourne $94/night (15 mins walk to Hotel).

Here's another hint if you're not staying at the conference hotel – check out maps.goggle.com.au and you can estimate how far it is from the hotel you choose to the sebel!!!
 
Hope that helps

Me too (as in i'm still looking for someone to sell it)!

Distressed? hmm…just be careful and go check it out! I didn't purchase it – i just rented there. So no LVR to tell you – sorry!
It's a decent place to rent for a student to live by themselves as the building does get locked after 8pm and you need a swipe card to get in but to buy….

If you are going to go check it out remember to:
1. Ask where the laundry is (there is no place to hang your washing except your shower area for dripping delicate clothes)
2. Freezer for food (from memory they throw out any food in the freezer each week) and you only get a small bar fridge
3. Charging you extra for air conditioning
4. Go upstairs the loft and see if you can stand straight – the loft to ceiling i remember that friends over 170cm couldn't stand straight.
5. Ask about parking (if you have a car)

Are you sure you don't want to just cram it in with other uni students somewhere else and just pay $80/w in rent and use your savings to buy in a high capital growth area??? Do some sums – you could have several IPs when you graduate

Well as always – good luck

Oooh Ume,
I lived there for 2 years (about 4 years ago now). 1st time in a studio loft ($250/wk) and 2nd time in a larger loft ($360/wk).

I know that it was cheap at the time to consider buying but i think the outgoings was quite hefty considering the elevator/24 hours security/swimming pool/concierge

After having living there and knowing that alot of people treat it like crap – i would (from a personal point of view) be hesitant to invest there knowing what i know now. If you think about it who you "target market" is for when you do sell – who will it be and how can it be a "good investment"

For example:
1. It may have slight capital growth being in the city but i don't know how much exactly – it will be slower compared to other city apartments that are non student accomodation
2. You can't renovate it or add value since it's a unit and it is what it is and you have to follow their rules – and really even though they say 1 bdr studio – it's a studio!
3. It's not cashflow positive with all the outgoings
4. the walls are weak – YOU CAN HEAR PEOPLE NEXT DOOR!!! At night i could people's snore and other things I could tell you so many other stories – like how someone managed to get into my apartment and steal my laptop/camera etc

I can however understand though that you may feel – hey – i'm spending all this money on rent at the Unilodge/it's a great location/safe for the 24 hour security- i may as well just own it – but it's the fact that you're paying interest on your own rent and then when it comes to sell it – it will be hard to sell- whenever you go to realestate.com.au – there is always ones for sale and you really wonder whether or not they ever sell – even just doing a search now there's 5 listed – 5 for an "investor" to choose from – how can you even distinguish one from the other?

Also – with the recent building of "The Quadrant" right next door- i know that was where alot of the richer Unilodge kids ended up buying in rather than buying at the Unilodge. It was a real unit and all new – still a great location and at the end of the day – they could sell it and it would be more "marketable" to a variety of investors – not just the student accomodation investors.

SO…maybe you should try and find someone who has bought one (and who is NOT trying to sell – otherwise their motivations could be questioned) and ask them what they think. Having lived there – i feel sorry for the owners!

Hope this helps and as long as you've done your research and you're still okay about buying- then so be it

Hi Ume,
Just out of curiosity – are you considering purchasing and if so why?
Thanks!

Hi Paltsi,
Welcome welcome!

Depends – what's your ultimate financial goals?

People keep telling me- PPOR is a lifestyle choice and not the best investment choice – whereas IP brings the money in and renting at the same time allows you to live where you want to live!

What do you think?

Hi Frank,
I asked the same question to Candice from propertyinvesting.com just the other day.  Here's her response:

"thank you for your email.  We are currently deciding whether the product will be reproduced and updated, which is dependant upon Martin Ayles' availability – at this stage it is looking like we will be re-releasing the product around mid 2008. "

I guess you and me will just have to go and find a 2nd hand one or just wait till mid year 2008!

No offence at all NikkiBlu but your story sounds/is formatted like a cut and paste of a "Success Story" from jamie mcintyre's website.

Having said that i have looked at Jamie McIntyre's home study pack and didn't think it was my style so did not follow through. However i do think that some people will be able to make some money from his course.