Forum Replies Created
Hi,
the property manager I am with recently conducted some research and discovered tenants were more interested in polished floor boards rather than carpet. At issue — the carpet is harder to keep clean.On the other hand, floor boards can be slippery (on socks) and could cause an accident. So insurance needs to be kept up to date.[blink]
I agree with other members of the forum regarding cold winters in UK and tenants would probably prefer carpeting. Stick with the norm?
Regards,
HelenHi Terry,
could you expand on the following.
There may also be adverse tax implications.thanks[biggrin]
Helen
Hi Phil and Kate,
log onto the somersoft web site. Do a search on trusts. I guarantee you will find a heap of information — rather mind boggling at times. [blink] But better to have an idea of the questions you need to ask, than go into a transaction blindly.[blush2]
Regards,
HelenHi,
consider purchasing a copy of Dale Gatherum-Goss’s book “Trust Magic”. You can buy it directly from his web site.Regards,
Helen[biggrin]Hi Zen,
if you check out the somersoft forum, you will find a long thread on Perth.
Although I haven’t read the thread, I feel sure you will find some useful information there.
Regards,[biggrin]
HelenHi Sacnac,
just a couple of thoughts re your post.
How large is the apartment you are interested in. Two bedroom/2 bathroom should well and truly exceed 75 square metres — otherwise, you are buying a rabbit warren and not an apartment. I think student accomodation has some problems — what happens during the long summer break. Can you let out the apartment??? If not, then the apartment only is lettable for 9 months of the year. Not the best investment. My other concern is no carpark. That could be a problem when letting the apartment and later on when selling.
Anyway a few thoughts. I am sure others will add their comments.
Helen
Hello Misty1,
if having a problem, send an email to PI administration.Go the grey box on the left hand side of the screen and click on “contact us”.
Helen
Hi Yuyu,
your post:
dun think u can get 20 square one bedroom for under 200k, so must be square metre.It was not my intention to suggest a one bedroom apartment would be 20 squares. I was just querying whether Xquis8 had been given the figures in square metres or metres.[blink]
Looking at the initial post again — $192K for 20 square metres — extrapolates to approx $400K for 40 squares metres; $600K for 60 square metres.
In my opinion the apartment on Lonsdale street seems very expensive. When you consider its limited use (student accommodation only), the red flags start appearing. I think there are better investments out there — but then again, that’s my opinion only.[blush2]
Regards,
HelenRegards,
HelenHi Mortgage Broker,
you posted the following:
The downside to X-Coll, apart from accessing equity and refinancing issues to name a few, is the risk of loosing both properties in the advent of foreclosure, there are certain situations where X-Coll cannot be avoided, but in most cases it can and should be.If you buy a property and the bank requires additional security — how can you avoid not putting a second property on the line.[angry2] It seems to me that the only way to avoid X-Coll is to put down a sizeable deposit in the first instance, so that the bank is protected in the case of loan default.
Also, could you explain what you meant by:
The downside to X-Coll, ……. refinancing issues to name a fewJust a few pointers to clarify your comments in relation to refinancing would be great.[biggrin]
thanks
Helen
Hi,
20 square metres seems very small — one room at best. I doubt if this is a livable space[blink]. Have you got the measurements right??[ohno]
$300 per week for 20 square metres — the figures don’t add up right.Maybe you were given the dimensions in squares (different from square metres).
Go back to square one (no pun intended[biggrin]) and reconfirm with the agent all figures provided.
Regards,
HelenHi Paleenia,
I think you need to gain some experience in property before starting to pursue development.
Have you purchased any investment property — if you haven’t then perhaps that’s where to start. Or you could consider starting with renovations. That would give you an idea of the type of problems you might encounter (eg coordinating tradesmen), budgeting, onselling etc.
As Michael stated, you need to either develop your education (at a mimimum, perhaps a six to 12 months TAFE course); or alternatively, identify some joint venture partners with prior experience in development.
Research is one thing — but going out there into the market is something else!!!
Maybe you might even consider working as a builder’s labourer. I don’t know if this is an option for you, but at least you could get a grounding in building/construction.
Hope this helps,
Helen
Hi Darls,
I would like to respond to a couple of questions you raised.
Quote:How do I ask a real estate agent about the sales, rental rates and type of developments in the area without being too ‘nosy’ or pushy? Is there a right way of asking for information or? What do you do – how you ask for information?[/quote]Once you have selected an area or two that you plan to invest in, visit the local agents, let them know of your ongoing investment plans and ask if they would be willing to provide the type of information you are after. It won’t take too long to know which agents you can trust and work with.[biggrin]
Quote:Are they reliable with emails or I’d need to make calls?[/quote]
I tried the email bit and believe it or not had hardly any replies. I believe the best idea is to contact agents either in person or by phone. Impress upon them that you are a serious buyer.Quote:And when I look at the area, how do I gauge what type of development that could happen within 5 years? What type of developments do you regard the best ‘measurement’ for investing properties around? Apart from checking RE and councils, is there any other sources I can look at?[/quote]If you have selected an area, why not invest in the local paper. This should give you an idea of future developments. Speak to the town planner and see what planning and development applications are being processed or in the pipe line.
In terms of “measurement”, look for future infrastructure investment; this is often a good indication of an area’s future potential.
In terms of the best type of investment, this is really something you need to determine as it will be an essential part of your overall investment strategy. In my case, I am now focusing on townhouses (new, 2 or 3 bedroom, 2 bathroom), as I believe this is where the market is heading. I am sure there are other members on this forum who would disagree with me. That’s fine. We all have differing viewpoints — and discussion revealing alternate positions is part of the education process.[blink]
In relation to general education — apart from Property Investing, I would suggest that you spend some time on Somersoft (another forum, in some respects quite different from this one). I would also suggest that you subscribe to Australian Property Investor (www.apimagazine.com.au). Ifind it invaluable. I also subscribe to Your Mortgage Magazine.
Anyway, enough food for thought.
Regards,[biggrin]
HelenHello Steve,
just adding my thanks to the previous posts. PI is great[biggrin].So many people contribute and in turn receive advice. I am sure that everyone who logs on gets enormous benefit.
So THANKS STEVE
Regards,
HelenHello Darls,
welcome to the forum. You have made the right first step.In terms of a mentor, there have been numerous requests over the months for someone to perform this role. I don’t know if anyone has been successful in securing the services of a mentor.
But my point is this — there is so much knowledge on this forum — it doesn’t really matter what questions you ask, someone will have the answer or at least put you on the right track.[biggrin] So, in many respects I don’t feel you really need a mentor. Just ask any and all questions here — the benefit of the forum over a single mentor is that you get a variety of answers based on differing experience.
Don’t worry about asking basic questions or too many questions. Just keep firing away and your knowledge will start to build up.
All the best in your property journey.[biggrin]
Helen
Hi All,
I am a recent convert to Somersoft.
In my opinion both forums provide excellent advice and support.
I think Somersoft is more attuned to the experienced investor — the depth of knowledge on this forum is awesome. I am truly amazed at the quality of advice meted out by members.
Helen
[biggrin]Hi,
when I get the chance to go away, all I want is a beach, the softest sand you can imagine, water gently lapping the shore, drinks service so that I don’t have to leave my beach chair and some really great books. Oh yes …. destination wise — I really love the Whitsundays.[sunny][sunny][sunny][sunny]That’s the life[biggrin]
HelenHi Ali G,
The point has been made in an earlier post that you should confine discussion of your investment plans to likeminded individuals. Those who haven’t invested (or don’t have the courage) will be the first to put a downer on your plans.[angry2]All I can say is GO FOR IT.[biggrin] Be your own person and do what is right for you.
In relation to another point you made:
As for the fact that I “should concentrate on my study” – has anyone else been in this same or similar position? I realise that by studying as well as attempting to get started as an investor that yes, I am biting off a huge chunk, but it has got to be possible, right? Any similar stories would be appreciated…I am at the moment trying to complete a PhD and do find that I am spending way too much time on property. However, property is also an outlet and as you know the saying “all work and no play makes jack a dull boy”. So enjoy your property journey — just make sure that you don’t deviate too much from your studies.
Wishing you all the best. You know what you want — just follow that path.[biggrin][biggrin][biggrin]
Regards,
HelenHello everyone,
thank you for your informative response. [blush2] Certainly an eye opener for me. My main problem is that I am looking to purchase interstate and therefore had hoped the major web sites would be comprehensive. Oh well, back to the drawing board.[confused2]Regards,
HelenHi FlyHigh,
could you elaborate on one of the points you made:
I was amazed at the concepts businesses come up with to flog real estate!Could you outline some of the concepts that amazed you???[blink][blink]
Regards,
Helen
