hi milen

whether 13% cash on cash is good enough ???

if there was some chance of capital appreciation or adding value to the property, otherwise i’d need convincing.

westan

hi fullout

perhaps you could go to some auctions in the dimboola area, (maybe Horsham). often these auctions have full house lots and they sell individual items cheaply.
adding to what powmow said the salvo shops try ones near dimboola like ararat, stawell and horsham.
why do you want to furnish it for anyway?
westan

hi Leigh

that doesn’t sound right about 150pw for a storage shed. perhaps you have misunderstood and it is 150pw for all of them??
taylah
yes it is real hard to find deals at the moment, i’ve given up looking in Vic. haven’t bought anything since about june. but i’ve been buying elsewhere and bought 12 in the past 15 weeks, so you need to look harder. personally i am not happy with the 11 sec rule the return is too low. all the ones i’ve bought in the past months have been better than this.
regards westan

hi all

still at school
you are right there is a definite lack of stock out there in cash flow positive world. But it has been drying up for the past few years, steve has only created more interest but the situation would still be the same. it’s certainly not 1997 when i started buying, then you could buy incredible deals like duplexes in adelaide for 21k. But there are still deals to be done. The market in Victoria has been so difficult to find properties this year i’ve had to look elsewhere and still been able to buy 12 in the past 15 weeks. Mini is right there are deal out there but you need to look harder.
steve i stayed up just to see mini and was very disappointed to only get about 2 seconds of my number one star.
regards westan

hi guys

i’m 39 and i’m retiring at the end of the year. But i’ll keep doing property stuff, i just wont be working for a pay check anymore[] handed in my resignation (actually asked for 12 months off) a few months ago and can’t wait to be finished i should have quit weeeks ago, it’s really hard to get motivated now i know i’m finishing in mid Dec.

westan

hi all

yes mike at 24 k its making a killing. but not at 95k.

my strategy is buy and hold but sometimes its good to take a profit. i’m reinvesting the profits into new purchases that are averaging 40k and renting for 120pw. so by selling i’m getting rid of one property and buying 4. yes i could refinance but i am happy to be out of this area. the tenants aren’t the best and the land moves a bit much so i could be up for some big bills in a few years.
regards westan

hi melaine and mitzu

melaine i don’t know for sure but i think the figure in aust. is about 25% rent whereas in NZ it is about 30% rent.?

Mitzu
i know some in Oz are setting up trusts in NZ. i’m using my trust from here to buy through and i’m not having any problems. as melaine said the only way to get a loan is in NZ.

regards westan

Josh

you’re in the wrong state[]

actually for victoria the ministry of housing use different agents unlike this state where they are contracted to certain companies
westan

hi mike

what prices did they get for the jt auctions ?
were the properties in the northern suburbs?
i’m interested because i’m still selling one in Gunther St. E.P. want to get about 96k for it.
regards westan

hi

i’m suprised that you financial advisor is encouraging property often they are anti, as they don’t understand it and don’t study it as part of their course.

it’s very hard to make comments obviously without knowing your full picture, ie your own financial position, and where you own your property, how much it is worth what it would cost and what it would sell for.
if i was you i’d do some sums and see how it looks.
i assume your financial advisor knows your full financial circumstances ? i would look into his idea as i said do some sums, perhaps build some units, sell some off the plan ???
but hey, i’m not really sure whats going on for you.
personally i’m keen on property (i own 29 houses)but i wouldn’t be buying in this market (in australia).
regards westan