Forum Replies Created
http://www.realestate.com.au do a burb guide it is good for reviewing medium income levels and age groups for prospective rental investments, also indicates what % of the population are renting or own and what type of families ie families with kids or singles etc all good info for determining if a potential property may attract tenants easier….
Good luck
Jeff Aquilina
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I hardly ever speak to mine, they direct debit their rent into my account if they are late I sms them, if they need something they sms or call me. I think if you play by the book then all is ok to manage direct. At the end of their term the lease goes up at least CPI.
Cheers
Jeff Aquilina
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Could the PM take a digital photo to give you an idea of the condition? Is the “chair” all that is holding up the property being tenanted????
Just out of interest what % to you pay the PM?
Cheers
Jeff Aquilina
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hey tom – pretty harsh reply man…?
Jeff Aquilina
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I have never had a problem and the stuff arrives in just days not weeks which is great [cap]
Jeff Aquilina
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I use NAB and they are ok with >40m2
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi TD,
I have 5 properties that I self manage, I use an agent to perform a let only and find a tenant when needed (cost = 1 weeks rent + gst) and then they hand the tenant over to me. I have had no problems….touch wood (reaching for wooden table…knock knock)
I would drop the PM and take on the tenant direct.
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi Dazzling,
I have a 2000 Lexus LS400 stunning V8 just love it. It is shinny black and beige leather. A real delight to drive.
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi bwp,
I live in Airlie Beach – the market here has increased 20% per year for the past 5 years it has gone mad..!! Sorry to say but you may have missed the boat. You will buy very little for $200-$300k in Airlie Beach, you may find something in Cannon Vale which is the next suburb from AIrlie. You will buy nothing on the islands for less than $1million.
If you need somewhere to stay I manage a resort on the mainland and could help you out with directions etc…
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi HoBe,
I have two excellent contacts for you, I have used both for many years they are VERY good.
Accountant
John Radridge – Tax Assist
Phone : 07 3252 4546Solicitor
Denise Maxwell – Denise Maxwell Solicitors
Phone : 07 3892 4329Let them both know I referred you
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
A minor one but have you side aside funds to market the sheds?
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Artist impressions look impressive but then again that’s what there designed to do.
There is no substance to the website i.e. no info on the project just pretty pictures [glum]
I was under the impression the Melbourne apartment market was over saturated??
Appears to be a good location
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi sweet,
You may need to be more specific ie where are you looking to buy, what are you looking to buy, how much do you wish to spend, what is the purpose of investing, do you have a deposit, are you in steady employment etc
Good ambition can be spoiled with lack of planning…
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Martinc
Sorry not from Melbourne [blink] but I did read on a forum on here Frankston was up and coming.
You can still build with Devine if you have found your dream home, just need to source your own land and bank finance.
Another good source is the Sat/Sun papers, all the builders have their designs listed. You should also check home display villages, you can get some good ideas about homes, landscaping, furnishing, interior design etc.
Good luck
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi Aukssie,
Have spent the last 3 years managing a serviced apartment hotel I have spen to many investors in the complex, most unhappy.
Be careful with the rental return, it may flucuate with the condition of the hotel industry.
Your investment has high volume “tenants / guests” so you will need to sink money in sooner to refurbish – check what refurbish clause is in place.
Very little capital gain due to in some instances over supply of this product.
Difficulty reselling due to limited market ie investors only.
Poor apartment/complex manager may turn your investment sideways.
A good rule of thumb, the greater the management fees the better the residential manager.
Some quality management companines in my opinion include Mirvac, Saville (Stockland), Medina (Toga Group).
If you would like more info send me a PM
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
martinc…..there is a catch..!! you have to take finance with their lender and it is 1-2% higher pending your financial position, than what you can acheive at your local bank. They tend to give money away easier than a bank to lure you into purchasing and their house and land packages are typically more costly than other builders. They also claim you get the first home owners grant in your pocket! This may be the case but I sure know I would be using that towards reducing my debt!
Its a easy but costly way to get into your first home. Check the cost to refinance with another lender if you decide to go with devine and try and get out at a lalter it may cost you a small fortune..!!
My advise……be cautious
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Some possibilities in Dubbo
Try http://www.realestate.com.au Property No. 102839410
Price $80k
Rent $7,800 pa
Loan $64k
Repayments (interest only) $4,446
Rates $1,300
Balance approx $2,054
% return on investment 12.84%Does not take into consideration closing costs and rental vacancies. Also need to secure the property at $80k not the $85 they are asking.
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
have a friend or relative make the offer..??
Jeff Aquilina
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if you have enough equity then LMI is not required, u also have more to claim as costs ie higher interest due to 100% + costs
if the deal is cash flow + then all it good
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
Hi Darren,
Sorry still don’t follow [hmm] maybe one of the more senior forum ppl could advise.
From what I can see you have $150k in equity. Have you taken into consideration the potential rent that can be used to improve your sercice ability position?
I would suggest you dont use the $90k loan it sounds like a redraw of equity loan, just obtain a loan for 100% of the cost of the new purchase and have the bank use the $150k or at the very least the $90k they have approved as equity. If you have enough equity and can service the new debt you can also borrow 100% + costs and not touch a cent of your own money……I have done this in the past.
If your on msn add me [email protected] and we can discuss some more……
Cheers
Jeff Aquilina
Need a holiday? http://www.coralsearesort.com email me [email protected] 20% DISCOUNT for PropertyInvesting.com members
