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I agree with muppet.
I’ve been there a couple of times, it seems like a nice town. I put offers in on a property there about 2 years ago, but it didn’t work out.
If the prices have moved, it’s probably getting hard to make the numbers work. I seem to remember then there was a couple of streets to be wary of and there were quit a lot of crosslease properties.
RACV (in VIC) also seem to be offering something similar to AAMI. Can’t remember how much extra it was.
it’s actually Laura at C21 (not Linda).
Unless things have changed in the last week [biggrin]
I think it’s just Tok. This was the 3rd time I’ve been there and I’m sure it’s rained every time.
I still like the place though.
You’re right about NZ being green compared to OZ, Melbourne looked very dry when flying back in yesterday – and we’ve had a mild summer.
the main problem with Tok seems to be the weather [biggrin]
In my last 5 days in NZ Tokoroa was the only place that rained and also the only place I needed more than shorts and a T-shirt. (Though I did notice you were in shorts, must be used to it being local).
Judging by my flight home yesterday, I reckon half of NZ must be in Melbourne for the Grand Prix. Probably trying to forget about the cricket.[biggrin]
Would it be possible to have the borrowings in your own name but ownership in a LLC. Thus keeping the financiers happy and also providing some asset protection. This would also allow greater flexibility when distributing income.
I’m just thinking aloud, I know nothing about US structures.
there still seems to be plenty of interest in NZ.
I’m heading over in a few weeks to do some inspections on the ones I have over there. I’d like to purchase a couple more in NZ, maybe later this year. If the numbers work!
Good point CastleDreamer,
I’ve found that a decent insurance broker can organise a certificate for settlement very quickly if required.
Rod.1. What are vacancy rates like?
Very low at the moment, I’ve spoken nto both property manager’s there and also to locals (including a niece who is looking for a place to rent) and there is a a shortage of decent rental property.2. What are capital growth prospects like in the town?
Long term probably ok, short term – who knows. There seems to be quite a bit of migration to Inverell from surrounding towns.3. Is it hard to sell a place in this town?
Shouldn’t be too hard at the moment, provided you ask a realistic price.4. Any general thoughts on the town.
It’s a good town, it’s the major shopping centre for the region. There are a couple of major employers including the abottoir, it has closed down in the past (and obviously reopened), so there is some risk there.
Another thing to not is that parts of the town are subject to flooding. The last major flood was in 1991.
Line rentals and local calls seem to be the same as Telstra’s “Homeline Plus”, which is understandable as they are only reselling the exact same Telstra product.
Long Distance and mobile are a little cheaper, I wonder who’s network they are using.
The selling point is probably the free ACN to ACN calls, sounds good, but only works if you can get all your friends and family to sign up to. Hence the MLM approach.
Be interesting to see how they go. Resellers don’t have a great track record (for residential) in Australia. Mainly because just about every call ends up at some point on the Telstra or Optus networks – and they like to get paid as well.
I’ve bought 2 IP’s now sight unseen. However in both cases they were in locations I was familiar with (and had been to) and were subject to building/pest/finance etc.
I also go the agent to provide lots of digital photos and in one case got a relative in the area to check the property out as well.
I wouldn’t call them a telco, they just sound like another reseller of other carrier’s products with a MLM twist.
Only you can answer this question. You need to figure out where you want to be in 1,5,10 years time and assess which type of property will help get you there.
If you’ve a high income and only plan to purchase a few properties then a -ve geared high capital growth property may be the go.
If you’d rather not put money in every week from your own pocket and can accept a lower (maybe) level of CG then a cheaper +ve cashflow deal may be better. These will also help your serviceability so more properties can be purchased.
Firstly figure out where you want to be, then determine which type of investment will get you there.
I must agree with richmond, I don’t see all that much negativity in the press at all. Maybe everyone is distracted by the oil price.
Exactly as g7 said.
With a wrap you’ve effectively sold the property (under long terms) so the building and chattels now belong to the purchaser.
I think with a lease option, the vendor may still be able to claim deprecitaion as you haven’t actually sold the property, you’ve only sold an option.
NZ doesn’t have the same age limit on depreciation on buildings that Australia does.
You should be able to claim depreciation on your NZ tax return. I don’t think you’ll be able to claim NZ depreciation on an Aussie tax return.
100 $100,000 properties yielding 10% would give you that income (gross). Then again one $10,000,000 also yielding 10% would give you the same.
What market segment did you have in mind?
That’s fine, welcome aboard.
I don’t know much about Ipswich, but many others have done OK there. May not be much CF+ve left.
West Coast Tassie, unemployment?
Armidale, University town, students.
As you can see different towns, different risks. But also different opportunities.
Sounds like very early stages. The media releases on the CHH website only say:
“The company is also giving consideration to extending its wood processing operations through construction of a new world-scale sawmill.”
They don’t even mention a possible location.
Wait and see.
I’ve never had furnished properties myself. But I’d suggest having a chat to the local PM’s who manage these type of rentals to find out what the market expectations are for furnishing standards.
There’s no point going overboard if you don’t need to, but you obviously don’t want to put cheap stuff in if the tenants are expecting top quality.
Should be able to claim depreciation on the furniture as well.