Have you thought of looking North. Say two rocks. It too is developing quite well but is not as far developed as Mandurah so there should be a bit more profit in there.
Marisa, when I hear that land value went up by more than 25% in one month it makes me nervous. Is the developer silly not knowing how much the land worth? 25% in one month!!!!
I like to be in your posistion and sell the land after one month. To me that is incredibly growth. Even during dotcom boom that was a good return.
Marisa, if you still can get that kind of return do it while it last. Might not happen again for a loooonnng time.Hi Zen,
unfortunately if we sold the block now – CG tax would equate to 50% of profit. Not a great return.
Instead, we have signed for L&H package $295,000 including interest to cover 12 month period while building. This will include, carpets, blinds etc. Basically ready for the rental market.
When completed it will be worth around $370,000, profit/equity $75,000.
With depreciation schedule and rental return it will only cost $1,200 PA.
I think there is only 2 more land releases so I imagine prices will still continue to rise.
My builder advised that there are many eastern state investors building in this area at present which does not surprise me.
Just a thought, have you looked at Pt Kennedy?
Regards, M
Originally posted by Marisa:Also, there was an excellent article in API on Mandurah about 2 months ago this should answer some of your questions. [biggrin]
I don’t read API. I don’t see the value in reading old news. Please enlighten me.
PS: I hear there are great individual stories in it though.
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksYes, great story on DD and Mandurah!!!!!!!!!!!!!!!!!!
Thanks for that. Very enlightening!!!!!!!!!!!!!
The Mortgage Adviser
http://www.themortgageadviser.com.au
[email protected]
Essential LinksThe growth south of Perth will absorb Mandurah such that it is just another suburb, albeit a very nice suburb! There isn’t much undeveloped land from Baldivis to Mandurah that hasn’t got plans for major development… schools, subdivision and shops etc. I think the prices are still very cheap – take madora bay with ocean side blocks for $130k, or meadow springs on a world class golf estate for around $120k. With the extension of the freeway from mandurah to bunbury, that will be the next area of growth in the medium term. Looking north, the new city of St Andrews apparently is the end of the expansion of the Perth area going north – I think it’s to do with the Gnangara Mound. Going east, Midland shouldn’t be forgotten either, with the large redevelopment project underway. As these outer areas develop I expect inner city areas such as Victoria Park to benefit, particularly as a result of Mirvacs Burswood developments etc. I see on the news that the Coogee Marina has gone thru today after locals tried to block it. Marinas historically have proven as catalysts for capital growth in surrounding areas and suburbs such as Hamilton Hill are set to benefit. South Freo is tipped to be the next up and coming beach side location, sort of a poor cousin to Cottesloe.
http://www.megainvestments.com.auJohn Carroll
Hi all,
Im still an amateur investor as im still studying in uni.
I recently purchased some land in the Lakelands Private Estate near Mandurah http://www.lakelands-estate.com.au. My plans are to build a house on the land live in it for one year to get out of CGT (since rents are so low and its my first ever invesment) and then sell the property (a 3 year time frame). The land cost me $117,500 for a 605m^2 block with settlement to take place later this year.
I was just wondering what other poeple think of this estate (opposite Madora Beach), to me it seem like a good investment, but then again i am still new to this “game”
Thankyou
Welcome te_khader,
You have made a nice 1st time Investment, we will start developing along Warburton Trail later this year.
We are locked into Building Contract’s and we are seeing good growth in lake lands, land cost us $84,-$86,.
We have others on the go now in Australind, 1 For Sale and not at lock up.
You have chosen a good way to go, live in for 12 months to save on CGT.
But did you know the CGT clock may start ticking from when you put your offer in on the block not necessarily from when you move into your new home?
You may be able start your next sooner.
Ask your tax man.
Good Luck
Regardsnot only that but 12 months is not a stipulated time for a PPOR exemption… it all comes down to reasonable and making sure you are not in ‘the business’ of doing it
http://www.megainvestments.com.auJohn Carroll
Hi and welcome to this fantastic forum te_khader. I haven’t been on for a while, been a little frantic around my house. I too purchased in Lakelands Mandurah just recently and noticed a very strong demand still – especially with eastern state investors getting in on the action!!! . You were a very clever first time investor getting in there so quickly, well done.
SQ[smiling]
We have been focusing on that area for quite a while and our NSW investors have seen great CG returns in recent times, I think there are still great oppurtunities there, but you gotta do your research!
Happy to help.
Roy H.
L.R.E.A., Dip FS (FP)Guardian Property Specialists (GPS) is a research-focused company that specialises in sourcing and providing residential investment properties Australia wide!
We bought our first home in Mandurah (actually 10 mins toward pinjarra) on the river 6 yrs ago for $155k did about $50k reno’s now its worth over $600k [exhappy]
We just bought our first investment Property in Riverside Gardens (Mndrh) in a one way street across from a primary school for $228k 4×1 brick 10yo with tenants in place for $180pw ..but with a little cosmetics etc were hopeing to bump rent to $200pw which wouldnt be unreasonable in the area. I know its -cg but im sure the capital will still be enough to make it all worth whileI love Mandurah !!
So does Mirvac Fini who just sold out $150m worth of apartments in 4 days. Mandurah is taking off in leaps and bounds and it seems $1m+ properties are becoming quite common place.
http://www.mirvac.com.au/forsale/WA/the_point/index.htm
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Hi every one,
Just read all the posts on Mandurah very interesting.
I would like to add my bit now.
I have lived here all my life, born in Pinjarra only because Mandurah didn’t have a hospital.
My family are local Identities of Mandurah with streets named after them.
I would never consider leaving here as I love it.Regarding the smell, occasisonally there might be a smell coming from Nairns, but very rare.
No you won’t find any positive cash flow properties here but what’s wrong with huge capital growth
Look what we have to offer
canals
acreage
lakes
rivers
estuary
ocean
marina
world class golf clubs
And all of this with in a 20 minuet or less drive from each other and the lifestyle is just out of this worldZen talked about properties doubling in the last 2 years
Just an example one of the blocks we just bought has gone up $30,000 and it isn’t settling until next month.
This isn’t just an isolated incident this is what is happening in Mandurah at the moment and I can’t see it slowing down as we still have the railway and freeway to come to us yet.So many people live in Mandurah and work in Perth why wouldn’t you when you have such a fantastic lifestyle here and a hours drive away is Perth where alot of people work
One of our investments properties has such a person.I still believe Mandurah is hugely undervalued for what we have.
Six and a half years ago I read Rich Dad Poor Dad and one of Jan Somers books and realised I had to get into property.
As I wanted more knowledge of learning about property I became a Real Estate Rep.
Yes I made alot of money but it’s never been about that it’s all about the knowledge and then using that knowledge to make money, but the way I think is the sharing of that knowledge with other people like all of you do, helping people better themselves.
Yes I am a Real Estate rep but I will not sell a property to a buyer unless I believe in it.
I am mentoring a few people now in Wealth Creation and I love doing it , seeing people create a better lifestyle for themselves is the best satisfaction a person can receive.If any one is interested in finding out about more on Mandurah please feel free to ring me on 95502050 or send me an e-mail on [email protected]
Regards
Moyamy Mandurah properties have been going up $1000+ a week for 3 years now. I feel I owe the place something now.
actually in an earlier thread I was saying how I went to busselton for Christmas for a combined holiday and vacation home hunt and the flies drove me nuts. We stopped in at dome on the mandurah estuary there on the way back and it dawned on me that what I was after was actually much closer to home. It’s not quite as picturesque as eagle bay but it is way closer, heaps more affordable, more to do, better cap growth and less flies!
http://www.megapropertygroup.comINVESTMENT SALES * RENTAL SOLUTIONS * STRATA MANAGEMENT
Interest comments.
We have friends who purchased in old part of Dunsborough, nice spot but they have found they rarely get down there due to distance and are now looking at purchasing in Mandurah.I cant see Mandurah slowing down at this point in time.
(Hard work never killed anyone, buy hey why take a chance)
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