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  • Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    March 21, 2005 - 10:17 am

    Thanks Marisa, and others who replied:)

    Thought I’d let you know – I’ve taken the bull by the horns, and have just put an offer on a block! Its located in the far northern coastal suburbs of Perth – they’re asking $190+ so I’ve started my offer at $175k:)

    I just placed it then, so I’ll let you know how I go!:)

    Cheers

    Wayne

    Profile photo of waynel2waynel2
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    Post Count: 311
    March 17, 2005 - 3:41 am

    Hi Marisa,

    In regards to “alot more land released this year” – where have you read this? And do you know which areas they plan to release alot of land?

    cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    March 16, 2005 - 7:21 am

    will do:) Yeah Trigg’s a nice area!!

    na, those websites are “Realestate Portals” I own – the developments listed are by agent and our clients – but saying that I do get to see what’s happening up that way:)

    check out http://www.hld.com.au – they develop alot up in Geraldton – their even developing on the Abrohlos Islands!

    also check out the marina up in exmouth (www.landcorp.com.au). If I had the money I would have definately bought up there! $230k for ocean views and your own jetty – doesn’t get much better than that! Though unforutnately, all these blocks sold out in 3 days!:(

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
    Join Date: 2004
    Post Count: 311
    March 16, 2005 - 7:00 am

    jhopper,

    yeah – my 15% does seem a little high – though according to the past increases 0f 25-30% – and if the infrastructure plans go ahead I think it will pull of:)

    Yeah i’ve been looking at lancelin too – I’m also heading up to jurien bay at easter to have a look what’s happening up there – so i’ll keep u posted:)

    So what do you do in Perth? Do you live in the Northern Suburbs?

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
    Join Date: 2004
    Post Count: 311
    March 16, 2005 - 5:52 am

    Hi Jhopper!

    Thanks for the reply:) Yep you guessed right:)

    I have considered looking down Mandurah/Rockingham area – though I live up near Mindarie and consider that my “area of expertise”:)

    That was my line of thinking with the “coastal view” blocks, as in the Perth Metro area nearly all houses with ocean views are a minimum of $500k – $1,000,000 which would have to flow out to the regional areas – eventually!

    My next decision though – is trying to identify whether I can make at least 15% increase each year on the block, for it to be worth it. Do you think this is possible?

    Do you live in Perth?

    Cheers!

    Wayne

    Profile photo of waynel2waynel2
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    March 16, 2005 - 3:42 am

    Hi all,

    In Jan 2005 I just finished renovating a 4×2 in Merriwa. It took me nearly 5 months to complete and cost me around $15k though the 4×2 I purchased at $185k is now valued at $240k +. I now have tenants in there paying $215 a week. My other 3×2 in Merriwa is paying $195 a week (This is the one that is +).

    Yes, you are right – Merriwa definitely has it’s good and bad areas. (well none are really bad – though it’s just the age of houses that differ – plus half of merria having power lines, and the other half having underground power).

    Seagrove Estate is the new estate in Merriwa. You can pick up land in this area for around $110k.

    To pick the good and bad areas of the “original Merriwa” I would base it on the “power line” factor. Eg, the areas with underground power are known as the better areas and seem to fetch a better price. This is mainly in the northern end of the suburb.

    The new estate being built to the east of Merriwa is Brighton’s Alanta Vista estate – which has blocks up around the $150k. These are selling fast – and once completed houses in that area will be up around the $300k + (going by the prices of existing homes in Brighton).

    Cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    March 16, 2005 - 3:09 am

    Thanks Marisa,

    In most of the areas I’ve been looking the land has increased in value by at least 20% for the last 2-3 years, though with the market slowing, and keeping in mind that land prices are getting quite expensive compared to established – I’m not sure whether this trend will continue?

    What do you think? Do you feel the Perth Market is going to maintain growth over the next couple of years (eg, areas such as Mandurah, Rockingham, Yanchep, and so on)?

    Cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    March 15, 2005 - 9:32 am

    jayzac,

    i see you point, though I would also tend to agree with Marisa aswell. I think it depends on the area your are looking at. For example, I have been looking at land in jindalee – which is right next to quinns rock – no main roads divide the two.

    Blocks are $210k plus, where in quins rock you can get 4×2 still for around $300k! I think it depends on the individual estate.

    In regards to perth hot spots – what do people think of Merriwa? I’ve got 2 IPs there (one which has gone up $120 in 4 yrs! – which is now +) and another which has also epxerienced good growth.

    The thing I’ve found with merriwa is that there is sub division behind it where blocks of land are getting released up around $150k – and you can still get houses in merriwa for around $200k. Therefore houses in this new sub division will be at least $300k plus – making houses in merriwa look fairly cheap!

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
    Join Date: 2004
    Post Count: 311
    March 15, 2005 - 6:47 am

    resiwealth,

    where are you doing all this development?

    Can you explain what you mean by ‘whole sale’ land?

    Do you have any land avialable in the perth metro area?

    Cheers

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    March 15, 2005 - 5:36 am

    Thanks for your replies!

    This helps me get by figures alittle more accurate!:)

    Ausprop, can I ask why you think the materials and skill shortage will only get worse? I thought it would get slightly better with not as much activity in the market…?

    Saying this though, I did hear that National Homes just laid 150 slabs – though now they don’t have the materials or employees to complete the houses to 2007!

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    February 9, 2005 - 4:55 am

    Thanks Terry,

    Yes, I had thought of redrawing on my mortgage though as you’ve mentioned the equity just isn’t enough…

    So in regards to getting a straight business loan do you think I would be unsuccessful? When you say they charge higher interest rates – how much higher?

    I guess I could always wait until the equity has increased enough in my 2 IPs – though that could take years!

    It’s funny really – if I only had my first IP (valued at $210k and owe $115k) then I would have more equity than owning two properties!

    Maybe I look at selling the second IP to pay off and increase the equity in the first IP… though i guess this defeats the purpose of property investing!:)

    Cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
    Join Date: 2004
    Post Count: 311
    January 20, 2005 - 3:09 am

    Hi Guys,

    Thanks heaps for your replies:) Wow, this is much more than I expected!

    What about the ‘serviceability’ of the loan? If we borrowed $500k we’re looking at $760 + a week… wouldn’t the banks consider this unrealistic, eg – if one of us lost our job then this would affect our ability to pay the loan quite dramatically?

    Thanks again for your feedback:)

    Cheers

    Wayne

    Profile photo of waynel2waynel2
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    Post Count: 311
    January 19, 2005 - 11:02 am

    Mine is $37,500 (p.a)

    Lisa’s is $34,500 (p.a) (approx)

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    January 12, 2005 - 8:09 am

    Hi guys,

    sorry for the delay in reply… just got to work after my radiator blew up half way down the freeway! anyway…after waiting 1hr for RAC and spending $360 on a new radiator i’m back![cigar]

    The house was a standard 3×2 for $195 a week. The house was painted all different colours – including apple green for the main bedroom! Overall it was quite small and nothing special – though saying that it was opposite a park and had a small spa out the back.

    They also had 2 large sheds out the back which you could rent for an extra $5 a week each!

    I think the success of creating so much interest was from having the home open on sunday, as in perth most of the agents only allow inspections between 9-5 during the week and up to 12pm on a sat morning…. which isn’t suitable for people that work fulltime.

    Yes, I agree with you derek – i think the rents are too low in Perth and I feel landlords should be increasing accordingly.

    Over a 4 month period I managed to increase one of my IPs from $165 p/w to $195 a week. With the previous tentant I issued a $10 increase due to market conditions etc – then after she vacated (just before xmas) I installed air con and increased it to $195 a week. Within a 4 day vacant period I now have a tenant paying the $195:)

    Are there many perth landlords on this forum?

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    December 7, 2004 - 8:52 am

    cheers jhopper! much appreciated[biggrin]

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    December 7, 2004 - 7:26 am

    G’day Jhopper,

    yeah, I’m going for that “tropical” look:)

    Though if it gets to costly, I may have to look at alternatives…

    I’ll be putting some natives in aswell – though to create that “height” aspect I quite like the palms:)

    Cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    December 7, 2004 - 7:01 am

    Hi Fiit,

    My issue is more a budget issue, rather than consideration for future purchasers. (even though I would love to keep them happy too!)

    I have a very limited budget (after spending too much on interior rennovations) – therefore I’m forced to look at cheap alternatives for the gardens. Ideally I would like to put kane plams throughout – though I don’t think I will be able to afford this.

    Thanks for your advice.

    – Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    December 7, 2004 - 3:18 am

    Hi Guys,

    Is it mainly the seeding that annoys people about Coco palms?

    I actually like the look of them – though i guess everyone thinks differently:)

    If it is the seeding, then I plan to sell this house within 5 yrs…so hopefully i won’t have to worry bout seeds dropping everywhere:)

    Anyway, thanks all for your input – i’m gunna take a trip down to Trees r green on the weekend – so i’ll let ya know how i go:)

    – Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    December 6, 2004 - 9:56 am

    thanks jan:) yeah i was thinking of having a look up at Wanneroo… though I think the markets only have a small collection…

    do u happen to have a number for “Trees-R-Green”?

    thanks

    wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

    Profile photo of waynel2waynel2
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    @waynel2
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    Post Count: 311
    December 6, 2004 - 6:37 am

    Hi Fiit,

    Thanks for the advice, though budget is bit of a factor – do you know how much kane palms are? (approx)

    With the seeding, I’ve heard this only happens once they reach 10 yrs +… is this correct?

    cheers

    Wayne

    Wayne Leech

    *Below are links to my websites – any feedback, comments would be appreciated:)
    http://www.landsearcher.com.au – List your land for FREE (Private sellers only)
    http://www.homesearcher.com.au – List your property for FREE (Private sellers only)

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