Hi Caeryla
My IP is in Medina, Currently rented out for $130. I bought 5 years ago for 69K 3 bed plus sleep out, brick (lots of fibro homes in that area) with lovely jarrah floors. I lived in it for 2 years and the area is very liveable, like a country town but only 12 minutes from Rockingham, 15 minutes from Fremantle and 30 from the city. It was one of the first planned communities in Perth. Went downhill and had a lot of state housing but then went through one of those urban renewals in the 90s.
Anyway it was Perth’s best kept secret for a long time but went up 20% in the last year and I expect it to do the same in the next year. The rail line will be very good for it and I have heard that the power will go underground as well. I would build there myself if I didn’t need to be closer to my sons school for now. Its getting very hard to find a block within 30 minutes of Perth for under 90K and most blocks down there are the traditional 1/4 acre.
If I was buying now I’d look at Calista as there are a lot of retirees moving on to retirement homes and leaving behind well maintained solid houses. Or I’d be looking for a rentable old house going for close to land value close to the new station or The Hub.
You hardly ever see houses down there advertised in The West. The industrial strip is not visible once you are in there, except for higher elevations and the prevailing winds actually carry more outfall to the north of Medina and up to Fremantle so it isn’t much of a bother to people that know the area.
Also it is very handy to Murdoch Rockingham Campus and the shuttle to South street runs through, I was a student at Murdoch when I lived there
This is turning into quite a glowing ramble about Medina, I’ll probably regret it when I try to buy more property down there and find it all snapped up!
Hello Everyone
We are not new to properties as a source of capital growth but are very new to this forum and web site, which is a great source to hear/share ideas, stories and opinions with other like minded people. Just thought we would share our thoughts and experiences on investments through properties.
We purchased our first property in 97 but have grown capital through buying, restoring and selling our own owner/occupied properties. At each sale we have made reasonable capital gains (anywhere from 15-80k after all costs). We have been through 4 houses so far and are now involved with purchasing existing houses on subdividable blocks and carrying out the full development i.e renov the front house and build a house at the rear.
We were tempted to buy a couple of IP’s earlier this year but backed out of it as the market seemed to be full of cashed up (probably high debt and maybe ex burnt dotcommers[
])
We decided that since we already have a few properties that are enjoying this “unusual” price growth (one of us has keenly followed property values of inner Perth since 87) we would hold any further purchases until we could make sense of the current property market or dedicate more time to finding that ever elusive bargain!!.We missed the first gathering of investors last month but would be keen to come along to any others in the future.
Hi Everyone
Thanks for all the emails. For those of you that have not contacted me with your email address our next meeting is almost here.
Perth Property Investor’s Network
Date: 30th July 2003
Time: 7pm
Place: Financial Masters Group
191-193 Stirling Highway, Nedlands
(near cnr loch street)
Carparking available.Please bring $1 to contribute to tea club, tea, coffee and snacks provided.
All experienced and budding investors welcome. Come along and share your ideas and experiences with other investors.
Will be talks on finance and wrapping (from experienced wrapper). Info on centrepay and baliff auctions. One of our members will have just returned from Steve’s wrapping seminar [
]Regards
Tracey Imbuldeniya
0401 674464Hi there peoples
Ive been browsing this web site and the forums for a few weeks now and its a great source of info. Ive become a member today and at the age of 25 I want to start investing for my future. Well at least start looking into it.
I havent attended any seminars but I do have a few books on order.
Anyway, can people perhaps give me some advice.Here is my situation.
Im 25, earning 50K a year.
Im currently living in my old man’s investment property with a view to buying a house for myself to make profit while still living at my current address. My outgoing expenses are very little. I pay no rent – only the bills to keep the house running – yes my dad is very generous which is why I want to make the most of this advantage I have. Now I understand that with no security such as a house under my own name, I cant purchase an investment property. So what are my options? Would someone be willing to help or guide me. IF you have any suggestions please feel free to email me on [email protected]
Im very new to this but I want to start now while im still young.
I guess what I am asking is what would you people do if you were my age in my situation?
I reside in Perth, would attending one your group meetings be the way to go ?
Cant wait to hear your replies!Cheers
TrevHi Tracy
I am interested in coming along to one of these seminars for perth investors. Can you please advise when the next one will be held?
Hi Trevor:
‘Now I understand that with no security such as a house under my own name, I cant purchase an investment property.’
Nothing can be further from the truth! With your excellent cashflow, I would say that you are in an in an excellent position to buy. The property you buy becomes your security. The bank does not care if it’s an investment your your own home. In fact if it’s an investment you might be better off as it’s giving you extra income.
Even if you have nothing now, you should be able to save a deposit (say $25k) and buy a property in about a year. A second should be fairly easy to finance as well, about a year after that.
Let us know how you go!
Peter (who has less income and more expenses than you)
Yes, very interesting topic. But is anyone buying cash flow posistive property in any of these areas? No one has mentioned positive or negative. Surely you are buying negative and hoping for the capital gains!
In today’s market, it is virtually impossible to buy residential properties around Perth that will yield a +ve return. However, property investing is long term & eventually, it’ll turn +ve. Unless of course, you are lucky enough to find a commercial property.
hi I am new to Perth, but have 4 properties on the east coast, I too am frantically looking aroung Perth trying to find good buys, I would be very interested in attending one of your meetings, is their another date planned. please contact me Tracey on [email protected]
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