Forum Replies Created
Adam
Yes i am refering to the gas line and lng plant.
I am also on Gosse cct two houses have been completed and trying to rent out for about 4 to 6 weeks (one is on Nathan ct) Raine and Horne are the rental agents.I would ring them and ask what rents they are trying to get and how long the properties have been untennanted for.Hope this helps you out regards AdamLive every day like its your last.
Learn how to create enough passive income to retire using shares,property and the internet.
http://www.renovateyourfuture.comI would consider wealthy to be when you have enough passive income to cover all of your living expenses and provide a lifestyle that you desire.
Regards BeanieLive every day like its your last.
Learn how to create enough passive income to retire using shares,property and the internet.
http://www.renovateyourfuture.comMyself i would get a plumber out and get him to change all of you tap washers at the same time that way for $70.00 you would not only have a happy tennant but you wont have any leaking tap worries for quite some time.
Regards BeanieLive every day like its your last.
Learn how to create enough passive income to retire using shares,property and the internet.
http://www.renovateyourfuture.comAdam be very carefull of the fact that a large number of the construction workforce will be moving on in the next month (almost all of us will be gone by xmas)and alot of us rent in Gunn.This could have the effect of causing a glut of properties in the very near future.
Regards AdamLive every day like its your last.
Learn how to create enough passive income to retire using shares,property and the internet.
http://www.renovateyourfuture.comStart out small and buy what you can comfortable afford.
Research your area throughly.
Buy cashflow positive or as close to as possible,this acts as an insurance policy if things don’t go as planned.
Educate yourself but dont get analysis paralysis, the quickest way you learn is when you have some money in the market.
Don’t let agents tell you that what your are trying to achieve is impossible, just have a clear idea of what you want and look and make offers until you find it.
Don’t listen to advice from well meaning friends and relatives who aren’t investors themselves.
Set small achievable goals to begin with and ramp them up as you gain knowledge and confidence.
Regards BeanieLive every day like its your last
Hi majoh3 you can start renovating before settlement but you would need to have it written into your contract.You usually ask for access to the property once the deal is unconditional (finance is approved and all pest and building inspections are complete), also you can ask for a longer settlement 60 or 90 days to allow you longer to do your renovations without the additional interest costs.Regards Beanie
Live every day like its your last
I don’t know of any laws restricting you form selling a house privately. Maybe you could have a look at owner.com web site this is specifically ste up for private sales they should be able to help you. Regards Beanie
Live every day like its your last
Thanks for the comments Westan, yes you are quite right i havent been to Invercargill for quite a while. Will have to learn a lesson from this one being that i shouldnt let past predjucies influence my view of what is currently happening there.I have certainly got some homework to do on the area now. Regards Beanie
Live every day like its your last
Let me start off by saying i am not trying to be a smart alex but from the time i spent living in Invercargill this is a list of problems it had.
1. Coldest place i have ever lived by a country mile the cold miserable days seem to go on forever.
2.Lack of work the only decent paying work was if you worked for Tiwi smelter.(Comalco has been told by NZ government that it cant have any more power than what it is currently getting therefore ruling out any further expansions.
3. Wages were terrible (my wife worked for a department store over there and the wages were less than half of what she was getting in oz)
4.A large percentage of the locals i worked with were trying to save enough money to move away from there.
5.There are two local gangs that have ongoing disputes.(When we were there one gang member tried to shoot another whilst he was in court on another charge)
This was a while ago now so i am just wondering how and what has changed there to make it a viable long term investment proposition.
Just on more thing the locals my wife and i met there were some of the most friendly and generouous people you could wish to meet. Regards BeanieLive every day like its your last
I would do exactly what you are thinking. Go around offer a cash incentive for the tennant to move out and get on with your renovations. I am sure this will be the quickest and cheapest way to fix your problem. Regards Beanie
Live every day like its your last
Being motivated and keen to do something is always good however you may be better off renting for a couple of months while you do some research and get a feel for the local market.Speak to agents, read the property section of the paper and attend as many open houses as you can.You will find that you will save a lot more money (in that you will be able to spot a good deal when it comes along)than the 3 to 6 months worth of rent will cost you.You will also find that this will put you in a strong position to complete your second and third deals as well.Regards Beanie
Live every day like its your last
Different alright as soon as the LNG plant is built we are out of here an back to Queensland.Nice place to visit but i would never want to live here again!! Regards Beanie
Live every day like its your last
I would ask the tennants if you offered them a cash incentive to move out would they consider it. This way if they said yes you could then advertise the property as with a tennant or vacant at settlement giving a wider range of buyers. Or have you considered asking the tennants if they want to buy the property under a vendor finance arrangement? Regards Beanie
Live every day like its your last
My wife and i are good at trick and flick but we are in Darwin @ the moment.Here are the things we consider add the most value for the least outlay.
Floor coverings tiles are good but if your looking at a quick turnaround you could consider floating floor as it is a lot quicker to install,Painting we prefer lighter creams which brighten the place and have a good broad market appeal,Light fittings,Ceiling fans, Stainless fans give an exective feel,Replace all cupboard door handles with modern fittings we usually use stainless. Hope this give you some ideas to get you started Regards BeanieLive every day like its your last
A friend of mine just brought a commercial property with a partner what they did was buy it through a trust. This way you can split the pecentage each person owns to suit your needs.They also have a tennants in common clause which means either one of them can sell without the other having to.I am no expert on this subject though and would suggest you see a good solicitor to explain to you all the ins and outs of what i have briefly described above with my limited knowledge of this subject.Hope this may help you with what you are trying to achieve. Regards Beanie
Live every day like its your last
As i am both an investor in Gladstone and a construction worker recently moved from the area to Darwin a couple of the comments above could be a bit misleading. Firstly that a power station has just been built there:-Gladstone has only one power station and that was built in the 1970’s. And the second was that a big construction workforce was due back there soon. This is possibly correct however there has been no mention of any more construction work starting in the area in the within the next 6-12 months.I am not saying that this work wont go ahead (i hope it does as this is my line of work and am sick of the heat in Darwin)but the construction industry is a very unpredictable. A good example of this is the alumina refinery we built there last year that was supposed to have been built 20 years ago. However i would agree with the comment above that if you buy good cashflow property in the area you should still do well in the future as the area does have alot going for it.Regards Beanie
Live every day like its your last
Hi Moolah when my wife and i first got into real estate investing a mentor we had used to suggest using a $40 investment policy instead of second guessing the market. By this he meant run an ad in the paper (which at that time used to cost about $40)and see what sort of response you get to what you are trying to sell.I would run two ads one for furnished and one for unfurnished see what response you get and then you will know whether it is fesiable and profitable to rent your property out furnished.Remember there is no black and white answer as to wheter to furnish or not you are best to let the market tell you what it wants. Hope this helps Regards Beanie
Live every day like its your last
From my experience if you play the cashflow games and are open to learning the lessons they teach, it could possible be the cheapest financial education will get.To me $440.00 for both games is an absolute steal for the lessons you will learn.
Live every day like its your last
Try running an ad in the local newspaper first advertising the type of property you are looking at buying and see what kind of response you get.For approx $40.00 this is a very cheap insurance policy.Also you could check out the possibilities of wrapping in the same area as this would give you another option if you find it hard to find a tennant. Regards Beanie
Live every day like its your last
I too grew up in Ipswich and would have to agree with the others above it is stinking hot in summer, freezing cold in winter, and there are major traffic problems with Ipswich road if you are travelling to work in Brisbane each day.The area use to rely on the surrounding mines for employment which are long gone.In my oponion the current capital growth will be short lived. However having grew up there i also like those above have a strong bias against the place.As you can probably guess from my comments above I won’t ever be returning there. Beanie
