krisco84 wrote:
The units you mentioned in your reply , > Were they individual block of units or high rise apartments?> Did you buy them off the plan / Newly built or was it a few years old?> our views on New apartments vs established apartments with good tenant occupancy?.> Given a scenario woud you mind buying an apartment in the CBD for…[Read more]

Krisco, I'm going to be very biased with my investing since i've done it from a similar level. On my first invest I was told i could borrow only about 200k max (i was on a sales commision job). I went around looking (bear in mind my scenario is 2006) for what i could buy for a suitable investment. There were 3 suitable items that were directly…[Read more]

Due Dilligence is working out where how and who you are buying the property for. I've seen all forms of stupid when it comes to investing, and very clever forms of smart as well. You can ride with the standard bunch of questions presented in the investment books, but i'd even go further.WHY – are you investing? Are you planning to sit on this…[Read more]

crj wrote:
It strikes me that the issue is not so much the valuer, but irrational herd behaviour driving up prices.

Irrational herd behaviour? It happens from time to time …http://en.wikipedia.org/wiki/Economic_bubbleAnything from tulips to ostriches to Nickel mining to dotcoms.Some people get in on the ground floor and make money .. others…[Read more]

Bullmarket wrote:
Don't forget the long term average median growth rate for property is 9% and the median price therefore doubles every 10 years. So in Sydney in 10 years time the median price could be $1M. Nah let's be realistic in Sydney in 15 years time the median price could be $1M.  Or perhaps in the future at some point in time the median…[Read more]

Bullmarket, the main issue you have seems to be with increased values heading to and over 1M.There seems to be some crazy idea, (and its not just you) that property CANT possibly be worth a million or more per person. Well, the reality is it can. There is a whole generation that has been brought up on the idea that a million dollars is a lot of…[Read more]

Since the section 32 is required by Victorian law for the actual purchase of the property, the real estate agent cannot pursue an actual sale of the property without one. If the property has been put on the market, there should be a section 32 Vendors Statement to go with it. However, because the sale of a property is usually spontaneous and the…[Read more]

Richard is right. The whole idea of a good mortgage broker is knowing how to best present your case so the mortgage deal actually goes through. However you are dealing in a much more difficult climate than it was 2 years ago. Banks arent throwing money left right and centre anymore, they are only really letting solid deals through .. they are…[Read more]

I will add an extra bit from the article. Having an over-regulated market not only affects the initial purchase .. it devalues the inherant behaviour of the property as an increasing commodity.In Victoria they passed legislation to stop bushes and trees and fake bidders from being there at auctions. The end result is the auction scene is sterile…[Read more]

I have no problems with valuers acting as agents. However i have read the quoted case you have supplied and may i suggest that anyone who is going to get in a hissing fit over a 15,000 valuation difference in the modern market needs to have his head read anyway. The figure represents a 5.4% difference over the 260k quoted for the property. If you…[Read more]

Land tax remains an accumulative tax based on how many properties you own and the assessed land value of the whole portfolio. However, it is assessed on a state level and not a federal level, meaning you can own properties in different states and not have the whole value affect your land tax bill too much.If your land tax assessment reaches a…[Read more]

Hello lukelee,The idea of getting your existing capital moving is a great idea. But classify yourself as a novice investor to start with. As a novice investor you need to get familiar with all possible expenses and costs involved with an investment property. And it really doesnt matter what field you invest in. What you need to be able to do for…[Read more]

All i can say to this is .. friend or no friend .. you should always run a standard Tenancy Agreement. It not only provides a legal entry clause, but also provides a legal exit clause. There is a reason why people write these nice big wads of legalese on paper. Its to make sure you and your tenant have a leg to stand on should there come to…[Read more]

Actually .. i'm more worried about the flow-on effects from all this loss in QLD. First .. the govt will be forced to pump money into fixing up whats broken, repairing infrastructure and getting things moving again. This is being held up as a once in 100 years flood, but .. what if its not? The mining industries have no transport to get in and out…[Read more]

Chestnut32 .. Melbourne is a mixed bag of properties and interests. But seriously .. the best way to get on top of the next growth suburbs is to watch for gentrification of the suburb. I've had the privelege of seeing at least eight suburbs upgrade to gentrification and the reasons are always pretty sound.An Example .. Brighton became too…[Read more]

ajayayyar … its interesting that you are thinking about other materials outside of brick. First .. most immigrants from europe wont deal with anything LESS than brick. Australians themselves are prepared to take on the old weatherboard simply because a lot of the time its cheaper and usually has a fraction more area inside the place. The real…[Read more]

I think the funniest thing with this little thread is it started in 2008.Since then the properties in my area have added another 28% to their market value. And people are STILL quoting doom and gloom.There are two real possibilities for the near future ..Firstly in 2012 the world will end in a fiery blaze as predicted by the Mayans and this will…[Read more]

pmack, you are travelling on blandishments.First .. The labour government CANT possibly tank the Australian Economy. The Australian Economy HAD to change in nature during the 90s to accomodate what was coming. Lets be 100% realistic .. when China produces the goods at up to 1/5th of the cost as the same Australian product with the same quality or…[Read more]

Bowenvale .. there are two big possiblities in the next 24 months. One is .. from all the heavy spending that the US (and in its own right Australia) has been doing .. that there is a period of rapid inflation. So the 2011 value of 750k will probably not be the 2014 value of 750k .. in that the buying power may be nowhere the same amount.The other…[Read more]

Where to start? Somewhere in all that mess .. is an entrepreneur just waiting to get out. First, you are treading water at the moment with your income situation. This is hardly the correct approach to starting an investment scenario. Second .. to sell into the plunging Brisbane market is the WORST possible scenario.I had hard times two years ago…[Read more]