Tip
Try to avoid buying an IP with swimming pool. If you must…. get a pool inspection.
[strum]

It sounds like a few of us have had similar problems. I had an IP vacant for 3 months, it was the neighbours who scared everyone away. Silly me, I never noticed them when I purchased the IP.

Finally had to reduce the rent and fortunately neighbours shifted and have managed to crawl back with rent.

I notice some adds here in WA where landlords…[Read more]

No cant let it die just yet… Stinking, sinking stumps… I am about to buy an IP that has two stumps which require replacement. Was quoted $75.00 per stump.
I know nothing about stumps, but as far as I am concerned when it comes to structural issues with houses, this takes priorty over everything.
Cheers[biggrin]

Dont forget South[biggrin]

Hi LA
if you are thinking about spending $500,000 on a block with no return, but expecting great capital growth, which you will surely get in Mindarie.

Why not consider other coastal areas, which have great capital growth potential, but have the additional bonus of a house giving you a rental return NOW…. Seems to make alot more sense. You…[Read more]

Hi AusProp, agree, 1 day prior to sale, we were driving along that strip enjoying the scenery and I mentally thought you would pay maybe $1 million for this location. I definately missed the mark.

There are also some real gems down Rockingham way, Shoal Water, Palm Beach, Safety Bay I believe are undervalued.
Cheers. [exhappy]

Thanks kay henry,
there must be at least 1 article per month in our local papers (West Australian/Sunday Times), perhaps even more regarding soaring Mandurah prices.
Block with shack sold 2 weeks ago (6 unit development) Mandurah for 2.4 Million, prices unheard of for this area. But there is no stopping it, it will be interesting to see what…[Read more]

thanks Kay Henry & kp, sometimes the figures look good, I must admit though since using Jaffasoft calc., you get a clearer picture and what I thought sometimes was positive turns out to be negative. Cheers
[exhappy]

Thanks everyone for advice, very helpful.

I actually did not go ahead with this IP, and will not deal with the agent,he was extremely rude when I would not go ahead with the deal.

Am about to place offer on another IP with a different agent, who is happy to put forward my offer.[biggrin]

Hi there,
I’m one of the many people kicking themselves for not buying in Geraldton.

Researched it 12 months ago…. never liked Geraldton. As many people from Perth would say, one of the places you drive past on your way to Kalbarri but never stop there. Mistake…

Trying to look outside the square now.
[exhappy]

Thanks everyone for your great advice. I know the owner owns the petrol station (2 in town). However, as C@34 stated dont want to cut my nose despite my face .

Derek, understand reservations as new strategy for me. However, I believe this is a prosperous town with lots of potential and will give it a go.

Funny, I met the neighbour, nice old guy…[Read more]

Hi All,
Agree, get the best quote…

interesting it was Statewide in Bassendean who quoted $7000, this would be to remove the lot, trees etc. A very basic small brick and tile home including carport.

I was advised that it would cost less than $7,000 if your house had signiticant features, ie leadlight windows, fireplaces etc.
I dont think there…[Read more]

Jaffasoft,
good idea, but what happens if someone gets hurt on your property while removing part of the house. Businesses have appropriate insurance in place.
Compensation/legal aspects?? Just a thought, Dont want it costing Wayne his block[confused2]

Hi Wayne
You may also want to consider timeframe, beginning to completion of project, my IP also in City of Stirling (duplex block).

I was advised by builders that it would take upto 12 months to build two dwellings. These were larger building co.
About $120,000 each house, this was a package and included all associated costs. This was quite…[Read more]

Wow, last time I made enquiries regarding using salvage yard was around $7,000, I wish it was for free.. I dont think in WA though…[eh]
They make their money selling building structure etc, I imagine there would be enormous labour/disposal costs involved too.

Hi Jo
I like this question as it gives everyone an opportunity to focus on goals.

Real estate in WA is not flat, still moving ahead. Plenty of opportunities at present.

We are also looking at purchasing another IP. In process of doing the ground work.

Also trying to expand our business which is very exciting. Our business is closely linked with…[Read more]

Thanks Derek, good idea.

Derek, one for you, how do you find out the vacancy rate if there are no agents in the town who manage properties? This is what I am now facing…. any suggestions?

Hi there, It depends on which way you want to look at it. I think power lines are a negative, but could be used as a negotiating tool to reduce price.
However when you go to sell, I expect the same will happen, it will affect the resale.

If you are going to lose sleep over it, not worth it, I would try to find another IP without powerlines.

Cheers

Kay, after reading your post I would not fit out. I agree this would suit the executive type/up market IP. This definately aint that.

I think I’ll stick with upgrading security. Got a price today for $350.00 for window locks.

Cheers, thanks for your ideas, very much appreciated.

[exhappy]