Hello All
I am just getting started in all this investing field and am not looking to get spoon fed deals, but was wondering if anyone could recomend an accountant, seminars or an investment group that are in the Perth, Mandurah area as I have only just moved here recently from Geraldton. I would appreciate any info you might think is helpful and look forward to being a regular on the forum
Scott
“Together we combine our strenghts and eliminate our weakness”
Hi Scott – can’t help re the seminars in Perth, but I’d buy half a dozen books on property and read them to get a good understanding of the basics.
Have you thought of investing in your old home town? A lot of people think it has a lot going for it. There’s been considerable interest from eastern states investors, but your local knowledge could put you at an advantage.
Average yields there are higher than any other place of comparable size (except Kalgoorlie) but you’ve got the advantage of a coastal location.
Peter
Hey
Thanks Peterp. I have just finished reading 0-130 properties and have also read all the usual stuff like rich dad poor dad, cash flow quadrant, how to become a property millionaire and a heap of others. I have just spent the last three years trying to convince my wife to leave Geraldton and now we have shes going to love the fact that I want to go back there to buy investment properties. Ill check it out, I know of a few key locations up there to start. Thanks for the reply
Scott
“Together we combine our strenghts and eliminate our weakness”
Hi Scott – Rangeway & Spalding are cheap, but I steered away from them due to bad reputation and lettability concerns.
But if you still want to get something near the 10 sec solution, either these areas or a cheap flat in town would be the place to look. But I’ve been advised to avoid the flats opposite the Grammar school.
Mahomets is nice but I didn’t go there as yields were too low for me.
Bluff Point or some units closer in would be my pick as a compromise between yield and lettability/anenity/growth potential/etc. Or if you’re going for houses, Beachlands could be good (though again I didn’t visit there).
Peter
Hey Peterp
Yeah I was thinking the beachlands, Piont Moore area for a house as they are still pretty cheap and shouldnt be to hard to rent out. You were definetly well advised to stay out of the Rangeway/Utakarra and the Spalding areas as they are definite trouble. For a unit up there I was thinking beresford, but I will just have to get onto the real estate agents to see whats happening. Its dissapointing considering I new a bloke who was selling his flat 6 months ago but I just wasnt in the position to buy at the time as I was trying to sort out my own personal finances. But you know what they say “The deal of a life time comes around about once every three weeks”. Are there no other West Aussies in here that are willing to share info on there accountants and such. Never mind I did read in past post about a group that get together in Nedlands and might have to try and catch up with them after Christmas. I must say though just buy looking in the paper over the weekend I found a few offers that look promising but are yet to check them out at the moment.
Catch you round
Scott
“Together we combine our strenghts and eliminate our weakness”
Hello Scott
What’s a good accountant? If you mean one that is proactive and who invests in property themselves (and hence has a vested interest in staying abreast of relevant laws) then I am yet to find one in either Mandurah or Perth. I always feel as though I have to prompt them.
If you live in Mandurah then perhaps we can catch up sometime for a chat. Contact me offline if you like.Regards
Clive
[email protected]Hello Scott,
Bert from FS professional partners is an excellent accountant. I believe he built his practice from his property investing funds.
He is located in North Perth, and his number is 9443 3233.
David Femia
http://www.femiapropertygroup.com.auScott,
You mentioned Point Moore, but I believe some of the houses there are on Land Leases. Not sure exactly what that means but am assuming that you own the house and not the land and at some point when your lease runs out, well, then what, you have to move the house? Just wondering, as you used to live up that way, do you have any info about the land leases, are they renewable etc?
As for a good accountant, investment groups etc, I can’t help, i guess that’s why I log on here, to ask for help when needed.
Good Luck
Regards
JudyRegards
Purple KissHello Judy
Well I havent heard anything about the land leases but when I was up there I wasnt looking to invest at the time. I know people who used to rent in that area and although there house was basic I think it would meet the critea for popsitive cash flow. I will have to look into it further. If anyone does buy a IP up there Ray White are good property managers. I used to rent up there before I bought in Mandurah and these guys were always on my case about inspections and paying water bills etc. Everything you want from a manager when you are the owner but not the tennant. My wife is going up there for christmas and I will be going up there later on to pick up my boat so I will investigate more then.
Scott
“Together we combine our strenghts and eliminate our weakness”
Showmethemoney
“i hear what you say” about prompting accountants, over the years i’ve said to several accountants ” look so and so who i work with claims this and this or is doing such and such, can i also claim or do that”? to be told “yes”, it’s not their fault though as i suppose they are inundated with changes to tax etc all the time, so as you said an accountant who is also an ‘avid’ property investor would be a great find !!
David Femia has mentioned ‘Bert’ ? may be interesting to chase up.. a good accountants worth his weight in gold.
david.. i presume you have dealings with him ??
REDWING
barrytspencer “AT” yahoo.com.au“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Hello Redwing
Its 3.00 in the morning here in WA how come you are not in bed like most people? I take it your from the Perth area, Im new to this forum and was wondering how long have you been investing for? and how are you going at it? They seem to do alright in the eastern states and was just wondering how the locals over here are doing. On a seperate note where does the tag redwing come from? Is it a motorbike think (Honda)?
Scott
“Together we combine our strenghts and eliminate our weakness”
Str23
At work !!
In and out of the office throughout the night, log on at various times and catch up with the forum- it’s a great place to learn, with some of the people here passing on a ‘wealth’ of knowledge, essentially electronic brainstorming!
I’ve been investing on and off since about 1991, regretting selling the IP’s i’ve had throughout the years looking at thier value now ! currently though we have 2 IP’s and a PPOR in Perth ( Yes- live in Perth )
Currently getting properties re-valued and speaking to my mortgage broker on friday to assess financial situation before making a concerted move again. lately have been building Equity in PPOR by value adding ( renovations with us doing the work – saves cash $ builds equity $)
The folks over East are just like us “looking everywhere” – beleive it or not they’re looking here too, we have a few spots of interest. as has been said here before the best deals are not found on the net..
“Goldwing” is the motorbike… Redwing goes back to Childhood stuff and always a usefull tag that doesn’t too often get copied..
Used to Go to St Pat’s in Geraldton many moons ago.
The Perth investment group care of [email protected] …haven’t heard or seen anything of them for a while ( are you out there ?)
Dolf de Roos was recently in Perth but i decided not to attend, most in the forum suggested and recommended ‘buy’ the book though !
Geraldton has been discussed on this forum at times, though as with most things ‘Local knowledge’ is King, so you’re in front there. geraldton has had a – population growth and some socio-economic problems in some areas, however on that note ” a good deal $ wise is a good deal “
Redwing
“The man that thinks at 5o as he did when he was 20 has wasted 30 years of his life”
Scott: Point Moore has a lot of leasehold places with some leases expiring soon. I have seen some places there advertised cheaply in the past, but this morning saw a park home there on sale for $80k – way overpriced IMHO.
Redwing: Your point re the best deals not being on the web has become more important in the last 6-12 months.
About 3-4 months ago there were a lot of cheap (<$70k) places advertised on the net. Now most are under offer. In the last couple of weeks the number of available places <$90k advertised seems to have fallen sharply, and most that remain are in lesser suburbs.
The main negative with Geraldton is crime in some areas. I have a newspaper article that claims Geraldton is ‘a city where children have declared war on their grandparents’.
Scott: Beresford is a nice handy suburb near city and beach, but I’ve had mixed reports about tenant problems in some parts of it. Also there seems to be a high number of rental properties there which limits yields and cg.
Though media sensationalism can apply to crime as much as property investment, there is at least a grain of truth – my research of crime rates shows that Geraldton is worse than places like Bunbury and somewhat better than Kalgoorlie (the latter has very high average incomes, but beggars are common).
For me though, this is outweighed by the postives – eg low prices relative to other coastal cities, new projects (hospital, port, university, marina), negligible capital growth for 10 years, and steady (though unspectacular) population growth.
It will be interesting to see how the average sale price stats turn out in the next 6-12 mths. The last period saw a decline, but this might have more to do with very high buying activity at the bottom end of the market.
Peter
Hey Redwing
I cant believe it another St Pats boy -Me too. Although halfway through my schooling it went co-ed with stella and changed to Nagle. The girls were a big inprovement. Im at work also on Night shift doing the same as you logging on every now and then to see if someone has repplied to a post. With Redwing I was talking about the honda logo not the other bike model. Im going to bed catch you guys later
Scott
“Together we combine our strenghts and eliminate our weakness”
Scott,
We are also in Mandurah. How ’bout we all catch up for coffee sometime mid January when the silly season is over.We have properties at Dudley Park, Halls Head and Greenfields. Unlikely to find any +CFs in Mandurah now tho.
Fibejebe.
(PS. Do you ride a bike? We are members of the local Ulysses club. Email me for more details if you like. charli883 at eftel.net.au )
Hi,
Just pop my 2c worth in here. We are currently dealing with a company founded by Margaret Lomas author of several books all to do with +ve cash flow. They are here in Perth, Willetton to be precise. They are refinancing & resturcturing our mortgage, providing advise and general supporting us in our hunt for +ve cash flow properties – we still have to do the grunt work but they will work out the cash flow.
They are called Destiny Financial Solutions, if you speak with Kathy tell her Renae put you onto her! They have contacts to accountants etc that understand +ve cash flow etc but not on staff!Also there is somthing on at the Burswood I think, 4 diff guys all who made millions in various ways – about $99 to go for the day. I looked at it but am not ready to invest away from property.
Sorry for the marathon – I do talk a lot when i get going. Hope you find what you need.
Renae
I am sorry to be totally off the topic here.[
!]I was last at St Pat’s in 1982, now living in Perth. Does St Pat’s do any reunion stuff that you know of ?
I drove past the college once in a while, on my way up north fishing but never have the guts to come in. It would be good to catch up with old friends and reminisce….[
]Thanks in advance.
Hey Hamster
They used to. I know when I left there in 1996 they were having reunions every now and then for past students. I dont know if they still do it now though. As to calling in there if you do you wont get much of a response. The St Pats campus still gets used to house the boarding student but that is about it. All the schooling is now done on the old Stella Maris Campus. I think even an employment company works out of the old offices now. I havent looked into it that much as high school wasnt one of my favorite times. If you need info try calling the Nagle office and they might be able to point you in the right direction or help you to organise a reunion yourself
Scott
“Together we combine our strenghts and eliminate our weakness”
If you are interested in hooking up with old school friend try http://www.schoolfriends.com.au
You can add your own details and see others from your school high & primaryHave fun
Renae
HeyThanks Peterp. I have just finished reading 0-130 properties and have also read all the usual stuff like rich dad poor dad, cash flow quadrant, how to become a property millionaire and a heap of others. I have just spent the last three years trying to convince my wife to leave Geraldton and now we have shes going to love the fact that I want to go back there to buy investment properties. Ill check it out, I know of a few key locations up there to start. Thanks for the reply
Scott
“Together we combine our strenghts and eliminate our weakness”
Gday scott, Im looking to invest in the geraldton area. Can you suggest a few good places and maybe some places to steer clear of…would be much appreciated thanx
Ben
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