Anybody had experience/opinion of
http://www.pulseproperty.com.au/
I admit I am a little bit of a newbie.
Hopefully that doesn’t translate to sucker[
]The Ramada Resort in Berwick is interesting with its guaranteed 3 year 6-7% net return. Especially since I have a variable rate of 3.75%
Just curious…
toystory,
A quick look at the website looks like thewy’re just advertising for a lot of OTP apartment blocks all over australia. Presumably they just market out to developers- no bid deal really. Question is- do you want to buy a new generic apartment(also known as “B” grade unless they have distinguishing qualities from all the other apartments out there) at this time of the cycle?
Also, some of the marketeers offer rental returns for 3 years at a higher rate than market rents, and YOU pay for it- built into your price. when the 3 year rental period is over, you’ll be back to getting the $200-250 market rents, which will be about 2-3% rent- that’s if you’re lucky.
Make sure you get an independent valuation on any new unit you buy. Some of these units are not valued at their asking price- they do internal valuations, and the valuers work for the marketeers.
kay henry
Toystory, we all are waiting with bated breath where we too can find interest rate at 3.75%
Pisces133
I have just become aware of the fact that Toystory lives in the USA., hence the possible lower interest rate.
However, (at least for those of us who don’t have income in the currency you want to borrow in) this is fraught with danger because of the currency risk.
Pisces133
Thanks Kay [
]Hi PeterM,
I am an aussie living in the US and the interest rates are a little lower here. I got mine through http://www.etrade.com as a home equity load (with .25% discount since I have an account with them).Its fun buying remotely as everything looks so cheap in comaparison to San Francisco. Of course I can’t find anything with the 11second rule as I am not on the spot…
I must say that it was interesting to see that 22 people read this thread in under an hour. It looks like not everyone is Christmas shopping unless people are buying a house for their spouse [
]PeterM does make a good point that my biggest risk is change of currency which offsets my good fortune of having low interest rates. it would be interesting to make a computer model of this to see how I might come out.
Hi Toystory
For what its worth I would suggest the apartments though out Australia are about to crash big time. My understanding is that it’s already happening in Melb and Syd. I could be wrong, any one like to add to this? As I haven’t had much to do with apartments at all and don’t live in either city.
Regards Bear
Bear, I think the major problem will be in the CBDs, and for Melbourne – the Docklands, and Sydney, Green Square and Zetland.
Other well selected apartments should still fare ok.
Cheers
Mel
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