D,I couldn't agree with you more – the forecasts have been off and none of the major institutions stuck their neck out to predict this earlier.  There are millions of economists out there whose full time job (if they haven't been retrenched) is to model the financial market – so if even they got it wrong, what chance have I got.Having said that…[Read more]

wealth4life,just wondering if you got the deal with your offer?  I think we're all very curious to find out.Thanks in advanceAlbert

May I suggest that you look into some of the following: world's forecasted growth (e.g. BRICS), forecasted demand for energy (International Energy Agency), depletion of fossil fuel (primarily oil/gas/coal), investments (past and recent) by private and government bodies (e.g. even recently, there are still Chinese state companies buying into Au…[Read more]

I fully agree with Nigel – do your own research (cannot stress this enough), not only on the market, but on the agent you use.  I *thought* I did enough research, whilst relying on my "buyer's agent" in going into a JV in Rio Grande Valley – a mistake that cost me $12k + lost opportunity cost + forex lossess (around 20% – but this was a risk I w…[Read more]

I found this article insightful when it comes to the reasons behind the plunge of the AUD – just as I expected, it is not as simple as I (or we) thoughthttp://www.theaustralian.news.com.au/story/0,25197,24463330-5017978,00.html

Hi Richard,Thanks for the heads up.  Will keep your points in mind.Regards,Albert

Hi Richard,That's one of the aspect that I'm currently working on, until the end of the DD period – where I'll be getting inputs on development costs(council/contributions and townplanners/surveyor/engineers fees), development finance (waiting on my current broker to reply on this), sales, etc.  I have heard that banks can finance up to 70% of…[Read more]

Has anyone seen the ABS link posted by Scamp?  I haven't seen any replies to that post, but I'm trying to make sense of the 2006 stats.  I see the total private dwellings in Australia being 8,426,599 and the total occupied total dwellings being 7,596,183.My interpretation is that there's 830,416 of unoccupied private dwellings (total – total occu…[Read more]

Willing to sell mine as well.  Just email me if interested. 

Eternit,I must say I got a shock when I first saw the fee on our first PM agreement @ 8.8% but I soon realised that that's the market rate (that property is not too far from your area; it's in Marsden).  I got the same rate for our first property in Ipswich but have since negotiated the rate to 7.5% (5 properties in that area).Having said that, I…[Read more]

I bought my first property from them.  First dealt with Mark (he left), then George.  They have a dynamic list of properties that you can choose from.  Like any good BA, they ask for your investment objectives.  Being my first deal, George was very patient.  Looking back (it has been 1.5 years), I can understand how frustrating it was for him es…[Read more]

I bought my first property from them.  First dealt with Mark (he left), then George.  They have a dynamic list of properties that you can choose from.  Like any good BA, they ask for your investment objectives.  Being my first deal, George was very patient.  Looking back (it has been 1.5 years), I can understand how frustrating it was for him es…[Read more]

I bought my first property from them.  First dealt with Mark (he left), then George.  They have a dynamic list of properties that you can choose from.  Like any good BA, they ask for your investment objectives.  Being my first deal, George was very patient.  Looking back (it has been 1.5 years), I can understand how frustrating it was for him es…[Read more]

Matt,The posts above have reaffirmed my perception that there's a mixed bag tradies out there; ones who are out there to earn a decent living (like wriggles), and 'the rest'.Also, it's quite clear that once you find a good one, you'll want to build a rapport .  I currently have a job of painting/carpeting/bathroom upgrade for 3 of my units and…[Read more]

Matt,thanks for the input.  Touching on myth no.3 – say you're looking for an electrician to re-wire one of your investment properties, and you have not used any electrician before.  If a friend recommends an electrician whom he/she has used previously, would you be comfortable with using him/her?  If so, what checks would you peform? Albert

Crashy,You hit a good point there.  When the job is "lump sum" or "turn key", there is a tendency to include contingencies etc.  Having said that, even with your regular tradies, do you still get quotes for new jobs? Do you believe in using tradies recommended by friends? Do you personnaly recommend tradies?  I've heard that some people are afr…[Read more]

I’m in the process of opening an account with HSBC….just wondering if a normal savings account will do for mortgage applications? or do I need a different type of account?

Albert

I agree with Todd. I’m onto my third property, all bought sight unseen whilst sitting here in front of my PC in Malaysia.

As Lomas said, you can find out a lot about an area (some times more so than a local); rental demand, local economy, council policies, demographics, etc.

Having said that, I strongly believe in getting “an eye on the…[Read more]

Has anyone visited Springfield/Camira lately? Just wondering how’s the area developing….

I’m currently considering going into this area.

AK

hi there

I’ll be doing a similar trip like yours this coming May. I just started property investment late 2005, and my investing partner and I are in the process of closing a deal in SE Qld. I’m currently working in Asia, so we bought the property sight unseen.

Since I do not know much about Qld, the aim of the trip is to familiarise myself…[Read more]