Hi All,
Thought I would give this thread a bump.All those who said that they would purchase,how did you go?Have you been happy with the returns and growth?Or are you still looking?
regards Martin[biggrin]There are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Martin, I think there is one more type of person….the one that isn’ even aware that anything has happened !
Tools
I am from SA and buying in SA.
As far as I can see there a no straight forward cf+ deals around.
But I just found a property in a regional town with 3200m2. It has a 1920’s 4BR house on it which needs some TLC and a stone granny flat which needs a complete internal fitout. I expect to subdivide it into 5 properties, build 3 more houses , keep two of these and sell the others off. Result should be cf+.
I believe that this property has huge potential. Very strong rental demand and I can have a 12 month settlement. Still working on some details.
Just to follow up – purchased two development sites in Melbourne.
Site 1 – purchased late 05 with construction to start Feb 07
Site 2 – purchased mid 06 with planning permission just received.
Will be using a buy & hold strategy for both sites to build equity.
‘ you will never go broke taking a profit ‘
I too have been thinking of Adelaide for the next investment. Does anyone have first hand experience with Destiny Financial Services run by Margaret Lomas?
Hi All,
Just my 2 cents.I’m currently looking at purchasing back in my own town.It was approximately 12 years ago that I started investing in my home town.The properties I bought were around the $75000-$80000 mark rent was approximately $120p.w. and interest rates were just over 10% therefore gross return on these properties was approx 8 %.Those properties now are valued over the $190000 mark I dont own them now (sure wish I did) they would be returning approx $190 -$200 pw.I’ve been looking around and doing the calculations and it appears that conditions in my town (in regards toross yeild) are slowly resembling that of 12 years ago.Houses selling for $300000 are getting a rental return of $330-$400 p.w. for a gross yeild of 5.7% and current interest rates of 8%.Is the tide turning in my town I dont know but its sure interesting to see similar conditions in regards to gross rental yeild.Are things starting to turn in your town?[biggrin]
Regards MartinThere are 3 types of people:1. People who make things happen.
2. People who watch what happens.
3. People who wondered what happened.Originally posted by wapi001:I too have been thinking of Adelaide for the next investment. Does anyone have first hand experience with Destiny Financial Services run by Margaret Lomas?
I have been a big fan of Margaret for many years. Her books are excellent.
I joined the Melb branch of Destiny Financial Solutions as a client 3 years ago as they were specialists in property which is what I was looking for.
The service, follow-up support and advice has been terrific. Michael and Laurel Sloane are the franchisees there, and they are great people and very obliging.
They do not sell properties – only advice and can arrange the correct property loan for you if you don’t already have one in place.
The property software program – DestinyTrack, is brilliant and they upgrade it regularly.
There are also a regular focus groups in Melb and newsletter, as well as the website with a forum etc.
I don’t know about the S.A branch, but if Margaret is behind it (and I am sure she is) then it will be well run. You should be able to get a free consultation without any hard sell.Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Always ‘looking’ and still buying [thumbsupanim]
Happy New Year!!
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