[M.InvestigatorMember@m.investigatorJoin Date: 2012Post Count: 134]

August 26, 2012 - 12:57 pm

A few month ago, I saw a second hand version of Rick Otton's material on gumtree.com.au

Be sure to check out that website too, there may be a good discounted deal of his materials there as well.

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August 26, 2012 - 12:53 pm

If it's a really very quick and easy job (let's say to do in just under 30 minutes), then I'd probably do it myself if the investment property was only nearby. Wouldn't really want to do it if its interstate or hours away.

Although, my preference would be to use a local kitchen/cabinet maker (using yellow pages or Google) or get a recommendation from my local property manager

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August 26, 2012 - 12:44 pm

I recommend using an SMSF to buy property, especially to help out to increase your wealth for retirement. It's a little more complex to use an SMSF but the tax advantages are there. I think it's much better than a typical super fund, as you have much more control. Personally I really didn't like paying all the high and ongoing management fees for my previous typical super fund.

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August 26, 2012 - 12:39 pm

Nathan – Is the property currently being advertised?

If not, and it sounds like it's not, then a good way to get in contact with them is to actually send them a mail, or a postcard. If you can get their phone number or even make a quick visit to them to speak with them directly, this may increase your chance to make a serious offer to them, and judge their desire to buy.

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August 26, 2012 - 12:32 pm

I haven't used them before, but seems like their service for linking you up with US foreclosures is interesting.

If you're worried about lack of reviews about them, I visited their website and it seems they have a 3 day trial of total access to their service. I'm not sure if it's free, but if it is, that could be a risk-free way for you to check out whether their service is useful for you to invest in the US

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August 24, 2012 - 11:00 am

propertybeginner wrote:

Cheers for the input , thats what I was thinking, its in essence a self funding property which to me would make no sense as to why someone would sell it. I know such agreements do exist with people who own suites in hotels, however, its the 20% per annum thats got me struck – maybe thats if the suites are let out every single day of the year. Anyway, I'll wait till I see more, before I definitely say no, but its a no at the moment. Thanks heaps

At least it's a good lesson for you starting out, and at least you didn't dive straight into it and lose money!

If you do end up seriously considering the deal again, be sure to double check the vacancy rates/occupancy rate for the place. You might even like to visit the place yourself. I mean if you're starting out doing property investing overseas, you might as well do due diligence on it as well, and see if it really is a popular place in Bali.

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August 24, 2012 - 10:15 am

Hey Mosaicrocks,

You mentioned you had some questions you had about stamp duty.

To help you out, and others who are curious, you can always check out the official QLD Government Office of State Revenue Stamp Duty Calculators, which will give you an estimate of how much you need to pay based on different dates and circumstances of your transaction.

You could also just contact them directly, if you want a more specific answer about stamp duty, as they've been responsive to me when I had a few complicated questions.

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August 24, 2012 - 10:06 am

Hey Scotty,

Parents can be a little annoying at times (from my own experience), and sometimes it is best to live away from them (in order to keep your own sanity, and so that the relationship is still good)

So, I'm guessing you want to live in America or do you want to invest there?

Are you currently based in Australia or are you already there in the US?

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August 24, 2012 - 10:04 am

An issue that I face with the forum is that when I leave a window with the forum there in my browser for a long time, then the browser ends up popping up an error message about 5-10 minutes later. The error talks about an problem with the script, and then my computer slows down, and I am asked whether to stop the script or continue the script. It's quite annoying actually, but perhaps it's from the fact that the forum automatically updates itself in the "What's Happening Now" section

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August 24, 2012 - 9:52 am

I think another way to avoid break-ins for your property investments, it helps to try and prevent it from happening in the first place. For example, when researching properties, aim to invest in areas that are safe, and have a low history of break ins and crime. To check up local criminal activity, you can typically get free reports from the different levels of government, and also even the local police can give you some ideas about the levels of crime.

Also, it helps to have insurance. This helps to minimise your risks as well just in case of any theft or damage to your property.

I agree though that adding security systems can also improve your property's security.

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August 23, 2012 - 7:06 am

Even at the median price of 130k, I recently found about 2 properties in Hughenden that were giving very good yields, and the prices were just about 130k as well. With the giuldford coal plans, that should sweeten the deal.

The population in Hughenden is comparatively low though.

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August 23, 2012 - 6:59 am

Mike,

Perhaps a mortgage broker could help you out?

Find a good one to give you good advice about getting a loan in Australia.

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August 23, 2012 - 6:45 am

Thanks Richard K for sharing the pics. I was getting curious myself about all the hype.

After seeing the pics comparison, I can see the similarities.

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August 23, 2012 - 6:34 am

Hey dubstep, I watched the video. Interesting how small the people in the foreground seem compared to the huge tank and all the big sea creatures. Makes me want to visit it one day. I've only really visited the smaller one in Sydney so far.

Why do you like the video so much?

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August 23, 2012 - 6:26 am

As an investor, you must have landlord insurance for all your investment properties. You expose yourself to too much risk without it. You also sleep easier at night with insurance as you are covered for many common and even uncommon issues related to property investing.

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August 23, 2012 - 6:20 am

Hey Julz,

Eastern suburbs of Sydney  have typically more pricey properties but the demand for properties there will be good long term I think. Try and negotiate the price as best as you can!

It's all about taking that first step. Good luck.

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August 23, 2012 - 6:16 am

I also think that prices will remain stable or dip lower. There probably won't be a massive boom in prices so if you were speculating on a boom in prices and a spike in capital gains, you may not get it.I think

It's fine that you bought in whyalla, although I think you need to make sure that you're buying at a good price, relatve to the rents that you will receive and the returns that you'll get. Make sure you're not overpaying.

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August 23, 2012 - 6:13 am

I live in Sydney, NSW. Although my family and I are planning to move over to a larger home with bigger land somewhere towards the Central Coast NSW – want to live closer to the ocean and where it's less hectic and the lifestyle more relaxed.

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August 23, 2012 - 6:11 am

Hey here to learn,

If you want to check out and know specific areas  in a suburb that have been affected by floods, there are 2 ways that you could check.

1) Check the website of the local council. Often councils have floodplain maps and maps that show flood affected areas by streets. I've seen some of these myself for when I was examining investment properties in Queensland.

2) You could call up the council to ask them directly, or sometimes even the State Emergecny Service also has info on specific flood affected areas.

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August 22, 2012 - 10:27 am

I think it'd be hard to pinpoint exactly the reasons why.

One way you can find out is to actually ask the real estate agent or the vendors themselves (if you can reach them) as to the reason why they are selling. Sure, they may not tell you the exact reason why sometimes, but you'll be able to get a feel for what kind of reasons they are selling. They may just tell you a genuine reason.

Another way to find out is if you actually pay a visit to the area and ask around from neighbours or from local businesses there about their opinions about the area. It may give you some valuable insight if you're serious about really buying in the area.