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Fast Lane

  • Fast Lane replied to the topic Self Storage Sheds in the forum General Property 17 years ago

    Speak to a competent Mortgage Broker. 70% LVR on commercial properties might have been the norm in the bad old days, but finance is now a commodity and everyone can get it and the rules have changed significantly.
    Congrats on finding a good deal and good luck with the endeavour…FL

  • While at uni studying for a phD in Electrical Engineering he got 3 student loans just for the deposit on his first property. When he’d reached his final year of studies he did a RE deal that netted him a $30 000 profit. This was the same amount he was offered as a first years salary as a graduate of Electrical Engineering, albeit with a phD to…[Read more]

  • Sounds like you might have to rip up the carpets.

    Can you imagine the calibre of tenant who’d move into a place that smells like…[sick3]

  • Financing for these types of properties ha been an issue in the past, like 60-70% max LVR’s but I know some of the brokers here on the forum have access to finance products that aren’t so prohibitive.

    Regarding onselling, typically the market for these industry specific properties are not as good as houses or normal apartments but that doesn’t…[Read more]

  • If it can achieve a good amount of CF per annum with little money down, do it. If it’s gonna make $10 per week and it costs a 20% deposit, dont do it, especially with little upside of capital growth.

    CF+ for the sake of it can be detrimental to anyone’s investing journey.

  • Make sure your due diligence is thorough, very thorough!
    Watch out for financing issues and dont be in a hurry to jump in. There are plenty of them for sale, so if you do in fact jump in I recommend getting some teeth during the negotiation stages. ie- playing hardball and picking up a good deal!

  • People have done this and created huge lumps of equity and value just in one deal. However, people have done this and seen their expenses and budget blow out big time (and I mean big time!)
    Removable companies are a good place to start and also have a scratch around the forum here as there are people who have done well and some who didn’t fare as…[Read more]

  • Of the plan sales are usually regarded as perilous for an investor. However, seeing you’re on the other side of the fence the upside can be very lucrative. Not commencing until you’ve sold one is a very good move.
    See if you can flag Michael Yardney’s attention (on this forum) this is what he does and does well.

    Good Luck…FL

  • Now that I think of it, if you are leasing back your apartment to the hotel, rental pool issues wont exist in this instance.
    These investments can appreciate more or less compared to normal apartments. If the returns are good and everything else is going well respectable CG’s should be there. These type of investments are typically bought for CF…[Read more]

  • That’s a funny post! [thumbsupanim]

  • Buying an apartment to lease back to hotel may look like an attarctive investment but often can be hard to finance and re-sell. Mak sure that your apartment is in a rental pool, not rented individually as well.

    There are heaps of these for sale everywhere so if you do jump in make sure the returns are good enough to warrant the investment.

  • Also check out your local bookstore. There should be a fair bit of info in there.

  • If you just want the builder to finish off the whole thing, check these guys out;

    They would do you a decent house that would come in under your budget. I’m not vouching for them, I just use their online catalogue as a reference, epecially for Qld. construction etc.

    Good Luck…FL

  • Something like this would more than likely be a lot more geared to working in property, not investing in it.

    Usually these things have information sessions/ evenings for prospective students. Go along and have a look and make a decision from there. Let us know how it pans out. [grad]

    Hope this helps…FL

  • Little bemusing though why Dubbo was ranked among the fastest growing coastal towns on page 14.

    I think the QLD prices are ridiculous. Good liftout though.

  • Hey Nickey,

    Do another post titled something like “RE agents-Mandurah,Rockingham area” there are people on the forum experienced in those areas that would be glad to help you out. Sorry I cant help, I’m in Melbourne.

    Good Luck…FL

    Fast Lane- The poster formerly known as g7


    What a great post! [thumbsup2]

    VP Commodores are the ones with those hideous horizontal rear wheel arches aren’t they?

    Fast Lane- The poster formerly known as g7

  • I wouln’t say massively increse the value of your property but it would certainly be of value to someone who needed it. If they need it. A lot of people rent out extra car spaces to other tenants in their buildings, so yes, I believe you’re onto a good idea.

    It’s just a balancing act on whether what you could rent it for would be viable to buy it…[Read more]

  • It certainly pays to be vigilant with your investment. If it’s in say a resort complex sometimes all the rent is pooled and divided among the owners. Other times it goes by the individual room, so the managers can play favourites. Your’s could sit empty 90% of the time while others enjoy virtually full time occupancy.

    You might want to post the…[Read more]

  • She could apply to APRA to have some of her Super released to help pay what’s outstanding, if she has any. She should take this up with her lender if she hasn’t already done so.

    If she’s been in the place for 15 years she should have some significant equity in the property. If she can avoid bankruptcy then she might get through it without too…[Read more]

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