Viewing 16 posts - 1 through 16 (of 16 total)
  • Profile photo of darrellgmdarrellgm
    Member
    @darrellgm
    Join Date: 2012
    Post Count: 1

    Hi everyone, I am a newbie at all this. Forum posting, investing, making my own money. So basically I have been working a 9-5 job working for someone. I am tired and ready to be my own boss. Im looking into investing. Any good books or suggestions? Will be much appreciated. Thanks in advance!!

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    Hi there

    Welcome aboard :-)

    Here's a sticky thread on recommended reading – https://www.propertyinvesting.com/forums/community/heads-up/6845

    The first part is getting clued up. Continue to read/learn.

    Different authors will have different strategies – there's no right or wrong, you just need to look at what works personally for you.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of Paul DobsonPaul Dobson
    Participant
    @pauldobson
    Join Date: 2003
    Post Count: 1,196

    Hi Darrell

    Jamie list is excellent but a bit short on books about my preferred strategy, i.e. vendor finance.  Some information on this subject is available at this post:  https://www.propertyinvesting.com/forums/creative-investing/4346038#comment-275315

    Cheers,  Paul

    Paul Dobson | Vendor Finance Institute
    http://www.vendorfinanceinstitute.com.au
    Email Me | Phone Me

    An alternative way to finance your home.

    Profile photo of Ramirez.FRamirez.F
    Member
    @ramirez.f
    Join Date: 2012
    Post Count: 5

    Hi there, 

    I myself am new to the forum, I have a specific question I would like to ask.

    I live in greater western Sydney, where there is a diversity of private and public housing. I have noticed recently, many housing commission properties renovated and sold to the general public. I currently live next door to a housing commission home, which is currently vacant (previous tenants have left). My family owns the property we live and I am interested in purchasing this housing property next door. I would like to know of any one who has purchased a public housing property and can provide me with the relevant information and ways to go about.

    Kind regards, 

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    I have a public housing property in my portfolio which I purchased 2 years ago. Its been a great investment – i.e. 18% CG and great cashflow yields. I don't think public housing in those area will be a large issue as the population starts to get priced out of the market. There is currently massive investor activity in those areas. I went to look at a property in Whalan for an investor and there were 2 other people there. One was driving a Benz and the other a BMW. Where is the property located and how large is the land?

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
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    Residential and Commercial Brokerage

    Profile photo of CatalystCatalyst
    Participant
    @catalyst
    Join Date: 2008
    Post Count: 1,404

    Getting info direct from DOH is virtually impossible so maybe you'll have to wait and see if it's going to be rented again or sold. If it's going to be sold go to the auction. The ones that are listed OO (owner Occupier only) are usually better presented and cheaper. You should look those up.

    If you are in the Mt Druitt area look up Richardson and Wrench Mt Druitt

    They do the DOH auctions.

    Profile photo of Ramirez.FRamirez.F
    Member
    @ramirez.f
    Join Date: 2012
    Post Count: 5

    The house is situated in Doonside and the land is roughly 560m2, the house is a 3-bedroom brick veneer with standard finishes (there are minor damages both internally/externally).

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Firstly whats the asking price and secondly how far is it from the station?

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
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    Residential and Commercial Brokerage

    Profile photo of Ramirez.FRamirez.F
    Member
    @ramirez.f
    Join Date: 2012
    Post Count: 5

    Well thats what I want to know, how can I find out the status of the property (i.e. will it be given to new tenants or sold)?

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Righto – call the managing real estate agent and tell them that you are interested in purchasing the house. Ask them to advise the vendor if they would consider selling if so how much are they willing to sell.

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of Ramirez.FRamirez.F
    Member
    @ramirez.f
    Join Date: 2012
    Post Count: 5

    By managing real estate, do you mean Department of Housing ? As it is a housing commission

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Contact the department of housing – the only issue is if the contract of sale only permits owner occupied housing. 

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of Ramirez.FRamirez.F
    Member
    @ramirez.f
    Join Date: 2012
    Post Count: 5

    Thanks, but the Department of Housing will not provide any information concerning the property 

    Profile photo of TheFinanceShopTheFinanceShop
    Participant
    @thefinanceshop
    Join Date: 2012
    Post Count: 1,271

    Doesn't sound right – have you tried calling the Blacktown office? They should be able to check and advise if they are allowed to sell the property or not.

    TheFinanceShop | Elite Property Finance
    http://www.elitepropertyfinance.com
    Email Me | Phone Me

    Residential and Commercial Brokerage

    Profile photo of ConceptConcept
    Participant
    @concept
    Join Date: 2012
    Post Count: 1

    Hey Darrell!

    Im a newbie too. haha and I feel that our situations are very much the same :P

    Thanks Jamie for that link. Im keen to sink my teeth into some property investing know how. looks like a good list :)

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069

    No worries.

    Welcome aboard.

    We're a friendly bunch so don't be scared to ask questions.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

Viewing 16 posts - 1 through 16 (of 16 total)

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