[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 23, 2005 - 11:02 am

We have had a number of properties in Mandurah – still have 5. Bought one in Old Mandurah Marina for $290K in June 2000, sold it January 2004 for $490K (private sale – no commission.) Have one Dudley Park purchased 1998 for $85K. Zoned R40 (4 unit development site.) Current value $300-$320K. Rentable at $150-$160 per week. (We moved out of it 2 months ago and still undecided whether to sell or rent it out.) Have 4 in Greenfields – one bought 2002 for $117K. Current value $180K, rented at $160 per week; duplex bought 2004 for $145K, value $155, rented $155 per week; a 4×2 bought mid 2004 for $205K, rented for $170 per week; and one bought 8 weeks ago in Country Road for $220K which we moved into ourselves.

I agree with what you said about the road system – hence why all our properties are North of the estuary bridge. The council is deternined to put traffic lights at every intersection south and keep lowering the speed limit every alternate day.

For the future – the railway will be in by December 2006 (so the polititions tell us – tho who believes a word pollies say?) and the freeway will eventually provide a bypass for much of the traffic.

With regards smell – I am not sure what smell forum posters are referring to. Maybe I have problems with my sinuses but I am not aware of any smell. I was told that before the Dawsville cut went in (?10 years ago – before my time here), the estuary waters did become stagnant quiet often, but they currently have good flush. We get very little algae bloom – compared to the Swan River for example. There are no health warnings on eating the crabs, prawns, muscles, fish etc.

We do not get pollution from the various Alcoa enterprises etc. Please enlighten me as to what smell you mean?

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 23, 2005 - 2:31 am

Positive cashflow in Mandurah? You gotta be kidding! Everyone wants to live here. [biggrin] It is the Gold Coast of the West Coast without the tacky highrise and cheap touristy junk. You are 12-18 months too late to get a bargain here.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 19, 2004 - 1:29 pm

Hi Kay,
I didn’t see the documentary, but there has been a lot of research in the past about “obese wives – insecure husbands”. It appears these husbands feed their partners and keep them obese in fear that should they be slender they will run off with another man. Unfortuantely I worked with a woman where this was exactly what happened. She lost an amazing amount of weight, (bravo to her!!) gained back her self esteem and self confidence, (double bravo) and found herself a new man who loved her just the way she was (Triple bravo!!) without the need to overfeed her.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 7, 2004 - 1:00 pm

RussH,

If you are really concerned about this woman you can phone the WA Psychiatric Emergency Team on 1800 676 822 and ask them to pass the information on to the nearest community mental health service. You are the only one on this forum with her address. Basically read your initial post out to them and they will follow it up.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 7, 2004 - 9:35 am

http://www.news.com.au/common/story_page/0,4057,11000870%255E26462,00.html

See full story above, but a few quotes:

A British man today said he had offered to buy the suburban Sydney house where Sef Gonzales slaughtered his family, and open it as a tourist attraction.

But his plans may come to nothing, with Ryde Council saying the proposal would never get off the ground.

<snip>
However, Ryde Council acting general manager Sue Weatherley said the area’s zoning prohibited the house from being used in such a way.

Asked if the council would consider any proposal to turn the property into a tourist attraction, she said: “It couldn’t be contemplated; it would be absolutely prohibited and couldn’t be contemplated.”

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 5, 2004 - 1:21 pm

I agree. It is a tough one. And at what point do you reveal it? If at all. I think to advertise the fact would scare some off but as Felicity said, some people would get off on that. I guess once someone is at the point of putting in an offer they probably should be told. Tough call for the real estate agent.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 4, 2004 - 5:07 am

Someone emailed me suggesting we do a vendor finance arrangement where a developer pays 120K (or something) upfront and then gives us a unit on completion. Looking reaalistically at the figures, you can build a single story unit for 100K each. Therefore cost to developer = 400K (4x100K per unit), 120K upfront, 30K incidentals = $550 all up. He gets 3 units, sells them for 250K each and makes 200K profit. Is that the deal? Are my figures reasonably accurate? Where do you find a developer?

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

October 1, 2004 - 9:35 am

Thanks for the suggestions. We spoke to the accountant this arvo. If we rent the place (until we are ready to develop) we would get a return of $120 to $130 per week on a $300K property. Not a good return.

Therefore, it seems to make sense to sell, pay some off the new PPOR – need to keep some mortgage on that as I am salary packaging and it helps to drop me down a tax level – and maybe buy a cheaper unit as an investment or pay off more debt so that we are one step closer to being self funded retirees.

Thanks for taking the time to reply.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

April 20, 2004 - 12:49 pm

I subscribe to the Jenman newsletter so emailed them and asked them to name names. They replied with the following (quote)

“The Five Candidates in the article are…

1. John Fitzgerald; 2. Jack Weavers; 3. Ed Burton; 4. Dymphna Boholt; 5. Steve McKnight (end quote)

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

February 16, 2004 - 3:03 pm

Originally posted by muppet:

Hi Guys <snip>
The Australian Government is about to close a loophole that allowed several thousand New Zealanders who arrived between February and May 2001 to continue receiving benefits without a certificate of residence.

<snip>
Citizenship Minister Gary Hardgrave blamed sporting loyalties, proximity and traditional trans-Tasman rivalry for New Zealanders’ reluctance .

“Familiarity breeds a little bit of contempt,” he said.

– NZPA

Regards

Firstly, not sure why 4 months of 2001 have been targeted and really doubt that it will create a massive exodus from Australia. “Several thousand” means anything above three thousand maybe.

Secondly, in reply to Hardgraves comments. “What a load of bulldust!” I have lived in Oz over 15 years, not claimed the dole, always had higher than average paying jobs, therfore always paid higher than average taxes and now they are basically forcing me to apply for citizenship with the threat that you have to be here 10+ years before you can claim senior cits pension. Hell, by the time I am eligible, I will have paid more tax than most with a birthright to the country. Also, because of asset accumulation, I am going to be forced to be a self funded retiree anyway.

Sometimes makes you wonder whether you would have been better claiming centrelink payments all your life and developing an all over suntan rather than an investment portfolio.

My reason for not applying for citizenship has nothing to do with the fact that I wore red sox during the Americas cup boat race, or have an all blacks jumper! Australia is the most over governed country per head of population in the world when you take into account local government, state and federal. Why have the operation just to support the b*st*rds?

And don’t tell me that I can have dual citizenship. I already have that. And my pommie passport is worth more that an aussie one ever will be and I have never set foot in the UK at all. Go figure!!

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

February 6, 2004 - 3:12 pm

Newgen,
Congrats on the successful purchase of your investment property, even with the added stress of the burlary.

Years ago I had a cash business and often had large sums of money in the house. I had a dog food can where I had cut the bottom off it, fed the dog, washed the tin out and put a jam jar with the cash in it inside the can. In a cupboard with a dozen other cans of dog food, you would never know. Heres hoping buglars don’t have dogs they want to feed. []

Those days are over now and if you robbed me you would be lucky to get enough for lunch money for the week. No longer have the pooch either.

[][:X]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

February 2, 2004 - 11:22 am

One of our reasons for continuing to invest locally is that my hubby wants to quit work and one of our options is certainly for him to manage our properties himself. If we purchase interstate, this is not an option.
Fibejebe
[][:X]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

February 1, 2004 - 3:17 pm

Originally posted by nchattaway:

But you’re not going to give us newbies any hints are you Fibejebe

C’mon, just a little nudge?

Nate

I cant. I know there is someone else on this board looking in the same town, and if I gave too much away and everyone on the board flooded the place, it would be really unfair on him.
[][:X]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

February 1, 2004 - 2:56 pm

You will have trouble finding anything +cashflow in Mandurah now, without putting in a sizable deposit. It is worth considering tho if you have spare cash up your sleeve as the capital gain over the next 5 years should continue until the railway line goes in and the Freeway is completed.

I recently sold my PPOR – so no CGT. We are going to invest it all back in Mandurah and surrounding regions on 5 or 6 properties but are going to put $60K deposit down on them to make them cashflow positive from day 1.

Some areas of Halls Head are lovely and you will easily make money off your blocks, particularly if you have either sea or estuary views.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 30, 2004 - 3:57 pm

Originally posted by **PropertyGuRu**:

Short or big I like all!
Cheers
[]
PropertyGuRu

Who says “size doesn’t matter!”
[][:X]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 29, 2004 - 1:22 pm

I did lose my visa card a few months ago,[] so phoned ANZ “lost and stolen visa cards” section. Now, before I progress let me assure you that they have a dedicated phone number specifically for lost and stolen cards. Typical bank, I spent over 15 minutes on the line listening to poopy music and adverts for ANZ etc including them assuring me that my call was important and thanking me profusely for holding the line etc, plus advising me that to “make it easier for our operators, please have your visa card handy.” Yeah, sure!!! If I had my visa card handy, would I be phoning this damn number??? [8]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 29, 2004 - 12:46 pm

lawyer or settlement agent?

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 29, 2004 - 12:43 pm

Hey Recoveryman,
Was great to meet you and the young fella. Am pleased that your trip was profitable. I thought that Al and I were keen on investing until I met you and realised that for us it is a hobby and for yourself it is an obsession. [] Your enthusiasm was contagious!
Take care,
Fibejebe.
[^]

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 29, 2004 - 12:37 pm

Yep, we found a dozen or so a couple of weeks ago in a town in SA with a population of over 20,000 and a good stable industry plus additional employers. All met the 11 second rule. I wouldn’t buy site unseen tho. Was worthwhile talking to the real estate agents and getting a feel for the town.

[FibejebeMember@fibejebeJoin Date: 2003Post Count: 152]

January 26, 2004 - 1:42 pm

Hi Bill,
Happy Australia Day and welcome back to PI.com
Missed ya,
Fibejebe.