Forum Replies Created
hey moxi10, did you go throiugh a buyers agent at all for the mackay property?
hey matt, never signed anything with the broker i was thinking of going with, so no fees..I am currently looking at red finance as another option..had a couple good recommendations and at a seminar the other day was told that they are able to liaise with an accountant to help sort out structuring and simplify things a bit..anyone know of red?
seems like more of a retirement suburb? 15-20 kms from schools from shops is a fair distance for renters. only found a little convenience store nearby.
I would personally not be relying on a couple of mines, I’d be looking to see what other projects are on the cards or other established industry in the region.
I wouldnt take those valuations on onthehouse as gospel either, recently had my house valued at 370k and onthehouse valuation says 240k to 285k?
hey terry ,
im in adelaide, but will be in mackay area in approx 8 months, are u an accountant terry?so much to take into account with what I have planned..
alright you’ve convinced me guys time for a new broker I think.
cheers for the advice
yeh i know, they havent offered me any otp yet but maybe once my fiance is approved that will change?, they have been fairly responsive with all my calls and emails so far and im getting the loan I want so thats all I need for now, may look to another broker in the future for a bit of diversity?haha
I did read somewhere that it is on margaret lomas and luke berrys watchlists for the end of the year…
hey fingerscrossed,
did the reno take the time you estimated beforehand? or would you allow maybe extra time seen as though its long distance?
I am only looking at the possibility of cosmetic renovation long distance..
sounds like you did it ok, did you have the property manager managing access to the property for the tradies? I have heard of some kind of lockbox on the house for people to inspect the house-heard on rick otton podcast, with a number combination on it or something? I was thinking this may work with tradies, and each trady returns the key once they have done there task?
cheers
Im hoping the broker I have gone to turns out to be ok, All the brokers there are active investors (so they say) only thing that skewed me a little was that when I said I wanted to buy a place with potential to renovate or develop, they commented “why would you do that when you can buy a brand new place, you dont want to do that”.
nearly drove me to seek another broker, I believe this comment was based on them investing in new properties and also selling off the plan homes to their customers, and getting commission..
hey jamie,
i get ya, i will call them and find out tomorrow, that was the solution i was looking forward, new to this as u can probly tell.
appreciate the advice Jac, Im basically trying to get finance setup, to a set amount, say 400k, so that I can start to shortlist some properties and have the option to put in an offer or deposit, without having to go through all the approval process after I have put in an offer…I figure this is the logical way to do it?
cheers
thanks for your help, sounds like this is the norm, terry, I thought a lot of the contract was bad english, I will read everything in depth now I think.
the main thing im worried about is clause 2- due to me working away in isolation for weeks at a time and the IP purchase being interstate, It may be a challenge to find let alone purchase an IP in the given 40 days, I might ring the broker and see if they have some flexibility on this clause..
cheers
Tiddy Widdy Beach SA for sure, oh hang on I already have…can ride the dirt bike into the dunes on the left, launch the boat off the beach straight ahead and 3km to the pubs n shops…
Im guessing clause 1 would mean as soon as the loan is conditionally approved, I only have 40 days to sign a finance contract? thats the way i read it anyway?
thanks
i would like to see the pics too cheers- [email protected]
ok so have finally found rental yields and rental rates in graph form, this sites pretty handy, even has yields for each number of bedrooms per house handy stuff, not sure of the accuracy..
http://www.suburbview.com/view/qld/emerald/4720/rent/report/rent+yields+3+months
thanks saffy,
im thinking about ringing some local holiay rental places to find out demand and likely vacancy, Do you offer some kind of specials in the low periods like pay 5 stay 7, or half price in winter? Im hoping with a bit of thoughtful advertising and decent staged photos I can get the vacancy rate a little lower than the norm.The place I plan to holiday let is currently my por but planning to move interstate for a couple years, so its either residential let at 400pw or more like 600pw as a holiday rental, located on eastern side of yorke peninsula.
It would fit 2 families and is of a higher standard and newer than all other holiday rentals n the area, so I belive my returns should be good.
what are your thoughts saffy, sorry to hijack this thread chopper..looking at renting my coastal property in south aus, what is the best and most accurate way to find out holiday vacancy rates?
cheers
thanks NHG found vacancy rates and stock on market at sqmresearch.com.au, will ceck out your links.
I look in the back of property mags, but im looking for stats where I can see graphs to look at trends..
cheers
seems your in the know josh, where do you gain such insightful knowledge?
