With the few properties I have, they’re all in an area where air conditioning really is a must due to the hot summers. It doesn’t add much to the rent return but most people wont want to rent a property…[Read more]

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As smenkhare said, the agent has a fiduciary duty to disclose the offer to the…[Read more]

Just a quick post to say that I wouldn’t necessarily take the Harvey Norman rule as gospel. One of their two regional SA stores is performing pretty poorly – they sunk a bucket load of money into a new building (although is was somewhat subsidised by the local council and traders, much to the disgust of the local electrical & furniture…[Read more]

http://www.century21.com.au/officeplist.cfm?search=advanced&grpofcecode=SA30&officebrochure=Y&grplstno=SA308674

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I think that you’ve already given it away, Fibejebe. Only two towns…[Read more]

From my experiences, second hand has been the way to go when setting up an IP. Here’s a few purchases I’ve made to improve the appeal of my properties.

– The Salvos shop is always good for cheap blinds and curtains. Did a whole house for $50.

– I’ve purchased ex-rental plants. They’ve usually lived a short life in the foyer of an office…[Read more]

Found out that:
a) Most properties in the area I’m browsing are selling 20-60% less than the general advertised asking prices. I now think growth in this particular…[Read more]

I certainly wouldn’t rule out Pirie, though you might have to hunt a bit to find a good deal in this market.

Nice size town, population of council area is 17K so probably around 14K in the township. Facilities are good. A few major shopping districts, all the big fast food frachises have a presence.
There is a TAFE campus but no…[Read more]

I received that in an email from richmastery today.

Cheers,
Mike.

I was sitting straight behind that blonde lady that you mentioned.

Found the riverland prices. I didn’t go to inspect any so I’ll just give the details from the brochure. Reserve details are estimated based on comments by the auctioneer:

33 Dridan Ave, Renmark
3 bed timber frame home with tile roof, good location, hardwood floors,…[Read more]

Was that you asking about the MB auction just after everything wound up? I was sitting near the back on the very right, two rows behind Bill, the buyer with the mo.

I’ll post the riverland prices later – left them at work. From memory, they ranged from $70 to $100k

Cheers,
Mike.

Yep, by maisonette, i meen the typical housing trust semi-detached houses.

I’m not going to type out the details of the properties, but you can download the Whyalla auction brochure from http://us.f2.yahoofs.com/bc/3fcc997b_45ee/bc/My+Documents/Whyalla+auction+20031202.pdf?bf92Jz_AM8YKGW97 (I think I’ve shared it properly, otherwise…[Read more]

The guy that bought three is Bill (i think). One of my houses there joins on to one of his. He has heaps of houses there now, and as far as I know, most of them are still vacant and listed in the window of the local Elders office.

Finally got a tenant in that house a few weeks ago. Was only vacant for four months! Must admit…[Read more]

Here’s the details of the Elizabeth Auction:

Lot 1 – 11 Hamptworth St, Elizabeth Vale
“Thee bedroom maisonette requiring floor coverings and minor painting to bring this to a good standard, would rent well. Minimum bid $80,000” I thought it was pretty rough, floors were really dodgy. Could see daylight between the floors and skirting…[Read more]

Some interesting posts here. I’m not sure how refinancing your IP’s to pay down your PPOR can be a bad thing, unless it would upset the taxman. Here’s a fictional scenario…

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I have a PPOR and owe $100k. I also own an IP which I purchased for $100k (80k loan) and is now valued at $200k. I believe that the market has…[Read more]

Cheers,
Mike.

Just going by numbers though…
refinance to realise your $70K gain –
sticking to 80% LVR, giving you $56K to play with, or $14K for each of your four new purchase s which should more than…[Read more]

How is $125p/w at $24K purchase not +ve cashflow? I’d be more inclined to keep them, refinance hoping the bank will agree with the $94K esimate and use that $70K equity as deposits for a few more properties. My strategy is long term – buy, reno, rent and refinance when it appears that the market has risen enough []… or just buy, hold…[Read more]

Some realistic numbers for regional SA. Purchase property for $40000 or rent for $100p/w.

Rent:
Low income earner might get $30p/w rent relief so real rent is $70 p/w. Bonuses of renting include free water up to 120KL/year, no maintenance costs.

Buy:
90%LVR @ 7%p/a = $254/m = %58p/w
+ ~$500p/a for Water & Water rates, sewage…[Read more]

Will give them a call.

Cheers,
Michael.

And if anyone is familiar with the Designcrete product that Cevilia has mentioned, I’d love to hear about it too. Does anyone know where these businesses have started up? I think I saw an ad for these startups a while…[Read more]

In a previous post, you wanted to shoot someone for guessing the state, and now you’ve gone and mentioned the town name! []

Anyway, no, I didn’t buy any. I was just curious about prices and demand. I did purchase one through those auctions earlier in the year. Also purchased one there last year through another agent. These are the…[Read more]

Had originally been looking at the MR2s and 300ZXs. They can be picked up well below the yard prices. Looking up the price scale through, I think there’s some real dollars to be made. Check the following…[Read more]

Is that EP or EG? Can’t see a Gunther St in EP in the street directory.

Anyway, the only EP property was a double – 16&18 Daniel Street if you want to compare it to yours. I didn’t get to look at this one prior to the auction, but the description was “No 16 – 3 bedroom, No 18 – 2 bedroom. Undivided pair in average condition.…[Read more]

I’m thinking that might be the way to go – just need to round up a few other interested investors.

Maybe a good business opportunity for any quantity surveyors out there – do a rural road trip once or twice a year to cater for the needs of outback investors. Sounds like a bit of an untapped market to me.

Cheers,
Mike.

Cheers,
Mike.

Are you familiar with the ‘b’ auctions? I noticed today that they have a SAHT land sale listed. Do they normally sell off houses in the same areas too, or just land?

I attended the ‘e’ and ‘jt’ auctions during the week too. The ‘e’ auction was purely to see how much prices and interest had risen since my purchases there earlier in the year.…[Read more]

Cheers,
Mike

Cheers,
Mike.

quote:
Wow Mike thanks for your input. Im sure it helped even more then u may think[].

Im sure now there will be more compition for these houses now and thats ok, will keep me on my toes .LOL[]

Thanks again Mike.

Regards Bear

PS would u mind if i contacted your…

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I’ve just stumbled on this site. Looks like a great community and a wealth of knowledge.

Thought I’d provide some details of my experience in the region mentioned.

I own two properties in the Whyalla Norrie 5608 postcode, both ex housing trust semis, which I have purchased in the last 12 months. I’m extremely pleased with the…[Read more]