[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 10, 2005 - 3:29 pm

Originally posted by Qlds007:

MJ

Which side of Brissie?

Cheers Richard
richard at castlewhite.com.au
Email me for details of our Qld wrap CD which gives you a full Installment Contract.

Hi Richard,

The center. CBD.

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 10, 2005 - 4:57 am

Hey Sailesh,

What’s the rental yield for a 5 bedroom place at Morningside?

— MJ.

Originally posted by Sailesh C:

This month will see the completion of my latest IP in Morningside. It is a 5 bedroom 3 bath with DLUG. The expected rental is somewhere between $500 and $550 per week.

You will find thet there are very few houses of this size in the inner suburbs. Therefore renting them out is a lot easier.

You will find the inner suburbs full of old 2 and 3 bedroom houses. Therefore if you purchase such a house as an IP you are competing with other landlords hence returns are low.

Sailesh Channan

http://www.developersedge.com.au

“Helping you select,develop and profit from property”

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 10, 2005 - 4:40 am

Originally posted by depreciator:

We do lots of work in Brisbane and South East Queensland. All the big QS groups are represented there.

Scott

Tax Depreciation Schedules
Australia wide service
1300 660033
[email protected]
http://www.depreciator.com.au

Thanks Scott!

I’ll send you a private email.

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 10, 2005 - 4:15 am

Originally posted by surreyhughes19905:

A safe bet would be between 4.5% and 5.5% gross yield. It may vary slightly depending on any reno improvements you’ve made since purchasing.

In general CBD 2+ bedroom apartments (in just about every CBD) come in at around 4.5% – 5.5% gross yield. The extreme ends (>5.5% or <4.5%) tend to be studio / 1 bedder or penthouse / furnished “executive” apartments.

Cheers! 5.5% is what I had in mind.

*Starts calculating*

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 9, 2005 - 11:46 am

Quote:

Originally posted by Millionaire in training:

Mja I have been reding your posts, is the 5 bedrooms for your PPOR in which case I guess it is a personal preference thing

Yeah, is for a PPOR which may end up as an investment unit…

— M.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 9, 2005 - 4:58 am

Hi Sue,

Quote:

Originally posted by diclem:

Hi MJ,
Genuine five bedroom houses are rare, I know, I looked for one. Some are advertised as 5 beds but are actually 4 and a study. (the fifth is small and has no BIR).
I do agree that over 4 beds could be entering into a niche market. Perhaps student accomodation.
I have noticed a lack of 4 bed houses for rent, most have two or three. That could be a hole in the market. I was considering my options and looked at renting, very hard to find a 4 bedder with a study and a garage, but I might be unique.
There are still some big families out here!

I’ll ensure that if we do go for the extra bedroom, that is has a built-in-robe. So insightful!

Cheers,

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 9, 2005 - 4:54 am

Quote:

Originally posted by redwing:

Wouldn’t you have to pay the tax because it’s ‘not’ your PPOR yet?

You areliving somewhere else and cant have two PPOR,until the house is built upon the block. maybe thats why they class it as an investment..stops people from avoiding the tax, saying they are building a PPOR then *change*
their minds?

Yeah, makes sense!

> Might have to speak to your accountant?

I need an accountant first!

Does anyone in the Brisbane (CBD) area have a good accountant in mind who has an interest in property, rather than just crunching numbers?

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 8, 2005 - 1:05 pm

Hi Terry,

Land is intended to be a PPOR.

However, if and when I purchase this land (QLD), I’ll be charged stamp duty as if it were an investment.

Is there then a process that if I build a house on it and make it my PPOR, I can claim back some of that stamp duty?

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 1:37 pm

Originally posted by psyduck:

im looking to get my first property, earning 44k and still have access to first home buyer grant and defence grant of 13k. saving of <3k. anyone out there have similar experience wish to share or give me advice? buy something < 200k in sydney? i live in sydney. any help would be great. Cause I have no experience when it comes to buying property. regards.[baaa]

msn: [email protected]

Hey psyduck,

How far away from the center of Sydney would you be willing to invest?

Sydney is a big market. Can’t say I’ve kept an eye on it since moving to Brisbane a year ago though…

— M.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 1:35 pm

Originally posted by The Mortgage Adviser:

A 5 bedroom is not excessive to those couples with 4 kids.

As with anything, if there is a demand, there will be a supply. I would not go much more than a 4 bedroom house as an investment though.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Cheers Robert… I was also thinking of couples having children later in life, and thus probably only having one or two. You can always have 1 or 2 spare guest bedrooms though!

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 1:32 pm

Originally posted by cashpoor:

Thanks for the replys.
The criteria for excluding suburbs is high crime &/or problem tennents.Example would be riots in Macquire Fields in Sydney.
Thank you for your help.
Regards
Cashpoor

There is a very high percentage of public housing out there…

— M.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 1:24 pm

Originally posted by The Mortgage Adviser:

I actually spoke with an architect regarding getting a home built. The cost seems rather high when they tell you but I believe the benefits will pay off when the property is completed and/or when you sell it. Architecturally designed homes usually attract a higher valuation if the work is quality which enables you to access more equity or just have more equity available to you.

Robert Bou-Hamdan
Mortgage Adviser

http://www.mortgagepackaging.com.au

Investor Links

Thanks Robert!

I’ll be sure to mention to the valuer about this award winning architect we’re looking at using!

Assuming we can afford this house he’s proposing…

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 1:03 pm

Wow!

What a fantastic seminar. This is the first time I have ever paid hard earned $$$, and I learn that you can get a tax benefit from it, if you already have an investment! Cool! Even managed to get Steve to sign both of my books – thanks Steve!

I thought that my brain would be stretched from stuffing as much information in there about property investing as possible… but it turns out that my hand hurts more from frantically writing everything down than my head!

By the end of the day I’d already signed up to go to the Sydney Masterclass on the 23rd October.

Good to meet those few ppl I said G’day to!

Cheers,

— M.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 7, 2005 - 12:58 pm

Originally posted by simplybliss:

Sorry about the all over the place reply. But i hope you do find what your looking for

Thanks for the links! Anyone else had an architect design a home for them? I guess this question may be more honed towards home owners rather than investors.

Is it a waste of time getting an architect to design an investment home?

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 6, 2005 - 1:42 pm

Quote:

Originally posted by Michael Whyte:

mja,

> Or you could do what I did and build a pole house?

A home on poles is kind of what I had in mind.

> My block is a 1500m2 block of subtropical rainforest with a 30 degree slope. We opted for a pole house with bearers and joists with weathertex cladding. You gotta watch the costs though as the house component ended up costing us around $350K. But we did build a gucci house with all the latest stainless steel fittings and blackbutt flooring throughout etc… What do you expect, it was our PPOR!!

Michael – how did the valuation go after you finished building?

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 3, 2005 - 11:14 pm

This article was from the SMH today:

http://www.smh.com.au/news/Business/Builders-slump-may-stop-rate-rise/2005/05/03/1115092504495.html

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 3, 2005 - 11:08 pm

Quote:

Originally posted by mattjones:

Hi mja

> I know a good builder/roofer/plumber/jack of all trades in Brisbane. He renovated our property and taught me a lot about renos at the same time.

Hey Matt,

Thanks for the offer – I’ll keep it in mind over the next few weeks.

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 3, 2005 - 4:56 am

Quote:

Originally posted by jhopper:

Hey MJ,

> I am personally a big fan of the sloping block mainly because you simply cannot buy and install a view!

Yeah, some people pay a premium for a view. I guess this would be the motivator for going ahead with this land.

> You mentioned a fall of 6m however what is the distance of the fall? If it is 6m over 200m it is easier to build on than say 6m in 50m!

True! There’s a frontage of about 10 metres, and the left hand side of the block has about 40 metres. So it’s 6 metres over about 40. That’s about 1 metre slope for every 7 metres of dirt. In the back right hand corner, it slopes 9 metres, but across 55 metres of dirt.

> This will predominantly determine the overall cost of levelling if you want to go that way.

I think we’ll have to build the house into the land, gradually getting higher the further into the block we go. The driveway is going to be ‘interesting’ I think .

> On that note, do you have to level much at all. I love the Queenslander style of home either stumped or on poles and, if this is a bush environment, maybe suitable. There are companies out there that specialise in this although wouldn’t know about Queensland.

Oh, my wife and I don’t like Queenslanders. We’re biased to the ‘older’ style Queenslanders we’ve seen (30+ years old), and prefer the good old brick/timber style home.

> Just some food for thought.

Thanks for your input!

Cheers,

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 2, 2005 - 11:09 pm

Quote:

Originally posted by MikeJackson:

> Sloping blocks can be cash flow positive fromn day one if you get the right price. Level the block before any neighbors build, try-link retaining walls are a sound investment.

What’s a try-link retaining wall?

> Use rendered foam to build the house as this will reduce costs and consider using pile and beam style footing arangements. A floating garage slab could be used at the front to park the cars. Before you sign up get out the dumpy level and shoot some levels. Hope this helps your decision making.

Heh – gotta buy a dumpy level first!

Cheers Mike,

— MJ.

[mjaParticipant@mjaJoin Date: 2005Post Count: 85]

May 2, 2005 - 10:56 pm

Hey’ya buzzwells!

Quote:

Originally posted by buzzwells:

> My first thought that comes to mind is can the sloping (large) block be subdivided into two properties?

Not at this point in time.

> As for my other thoughts on the points above:

> Designers can cost extra, as many of them lack the construction experience to understand ways of minimising building expenses. Designers usually want their ideas done no matter what the cost.

I’ll keep that in mind. This designer is part of the land estate that is employed to approve/deny home plans. Their services are free.

> If you’re going to rent it out on a couple of years then I would look at getting a draftsperson and a builder together and nut out some plans. It’s cheaper than a designer, and builders know how to minimise expenses yet still get the same desired outcomes of design. Bounce ideas around on ways to come up with great designs that aren’t going to cost a fortune!

Here’s a question: Does anyone have suggestions for good builders in the Brisbane area? Any builders to stay completely away from, whatever the reason?

> Get quotes of levelling the block. If a neighbouring block has had something, then approach the owner/builder and ask a few questions! How did they do it? How much did it cost? Who did they use to do the earth moving? What problems did they face?

Sounds like a plan!

> Also check with the council on the latest regulations involving water runoff/tanks/etc, etc.

This is Ipswich shire, so I’ll do some checking.

> You may even wish to get an inspection from a quantative surveyor on how much the likely cost is to build…

Also a fantastic suggestion – does anyone have a preferred (cheap!) quantitative surveyor in the Brisbane area?

Good luck!

Cheers!

— MJ.