[rusty05Member@rusty05Join Date: 2011Post Count: 94]

January 19, 2014 - 11:23 am

Hi guys, 

I've been trawling through threads about Wagga and will be going there this Wednesday/Thursday for a good look for my next IP purchase. I see Ashmont, Tolland and Mount Austin have some DoH streets, as well as Kooringal. What are people's thoughts on areas like Turvey Park and Glenfield Park? Is Kooringal still worth a look in the right streets?

I'd love to pick something up with a yield of around 7%. Do you think I'd need to venture into Ashmont/Tolland territory for that? 

Any feedback would be greatly appreciated. 

Regards,

Rusty.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

November 21, 2013 - 2:35 am

Jac,

Do you think with all this investor activity we'll see vacancy rates rise in most areas?- I would imagine we would (obviously some areas more than others).

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

September 29, 2013 - 12:39 pm

The neighbour's place, no house but 160 acres of grazing land with amazing views for around $1.8, and would work in beautifully with our place! 

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 24, 2013 - 12:08 am

There are certainly some desperate sellers. One house we looked at was asking offers above $440000, then listed as $440000 now down to $400000. Bank val came in at $425 and the agent said they're still pretty negotiable. Reckon you could get it for $380 but the question is what will it be worth when it looks onto the bypass?

Money to be made if you get it right, but you could also have no CG at all. We've decided this one's too big a risk.

I'll keep you posted.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 22, 2013 - 8:15 pm

Nathan,

We've certainly ruled one out because it's just too close to the bypass. Will be looking at a couple this week with the potential to subdivide, keep the  house and sell the block -if funds allow!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 21, 2013 - 11:49 pm

Hi,

Interestingly we looked at a few houses in Berry over the weekend and are just trying to figure out if the bypass will impact on them.  Apart from our PPOR we haven't invested there as yet.

So does that mean Berry's off the list for you or you will just try and find a block elsewhere in town?

– Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 13, 2013 - 11:36 am

Nathan,

Following from my previous comment funding has been approved for the Berry By-pass and the RTA has a fancy interacting digital image thingy on their website which gives some idea of where the bypass will be.

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 12, 2013 - 7:47 am

Hi Grant,

I think you're right, the stamp duty would probably be on the full valuation. 

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

July 11, 2013 - 11:29 pm

Hi,

Last year we purchased a property off my parents for $725k. It was valued at $1450000 so we paid half price.  We found a lot of banks would only take the purchase price (725) into account but as Jamie alluded to, a few based the loan around the actual valuation so our LVR was very low (a loan for under $725k on a property valued at $1450000.) A good broker will help you out there. 

Our solicitor drew up a deed of family arrangement which my parents, my brother and myself signed to ensure we were all away of the arrangement because it could havev implications down the track with estates etc. 

Does this make sense??

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

June 14, 2013 - 7:43 am

Hi Nathan,

I know Berry pretty well being born and bred there. Given the area is a 'destination' town for the Sydney mob, I don't think the bypass will have a huge effect on the local economy. However it will impact significantly on the price of some properties because of the stupidity of the planning which sees it cut the town in half and ruin the beautiful setting – sorry, having a rant! A lot of houses currently looking over paddocks towards the mountains will be looking at a concrete overpass when the bypass comes. Shoulda gone the southern route and followed the trainline

The other thing to consider carefully when deciding where to buy is the on/off ramps. You'll notice a lot of established houses at the southern end of the main street and the bottom of kangaroo valley rd are currently on the market because of the impending ramps (or possibly the fear that it will have an impact on their property.) Also I'd be a little careful buying in the new subdivision behind the speed camera heading out of town southbound (huntingdale??)  because there's been a lot of talk that the bypass would impact on the values and I think it maybe putting buyers off – having said that if you've done your research and are planning to hold it for a few years until after the bypass is finished, perhaps you can get a good equity gain because some of the blocks are well priced. Ideally you would want a vacant block in town but there's not really anything available.

Interestingly, we had friends who sold their home for next to nothing in Berry 25 years ago because it was on the line of where the bypass was supposedly going and now it's worth a fortune.

Good luck, you'll love the town of trees if you do decide to move there!

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

April 25, 2013 - 9:33 am

I guess it shows how lucrative the spruiking game is!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

April 6, 2013 - 7:57 am

Hi, 

I know the Worrigee area pretty well and in my opinion I think the potential tenants are probably dual income couples with a few tri-cycle motors and a dog. (Mum may work part time.)

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

April 5, 2013 - 10:33 am

Okay, thanks,

I'll dig up our lease (expired) and look at the finer details.

Regards,

Rusty

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

April 5, 2013 - 9:08 am

Thanks Jamie, 

Do you know if you have this written into your leases?

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

March 15, 2013 - 11:22 am

Sorry, when I read the opening post, I thought this tread was about Julia…

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

March 14, 2013 - 2:27 am

From my experience of talking to others, everyone has the best accountant!!

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

March 6, 2013 - 10:19 am

Ok, thanks.

Certainly something to think about.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

March 5, 2013 - 2:15 am

Thanks Jamie,

being the resident Canberrian on the forum, do you know anyone who does property staging in ACT? Could provide an idea of pricing for staging a small 3 bedder?

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

March 3, 2013 - 10:55 pm

Hi all,

I'd be very interested to hear if her distressed property system is workable or a scam. It does sound a little too good to be true. The 5 or 6 grand she's asking is a lot to blow if it's all shonky but you'd get that back in the first deal if it was actually legit.

Anyone with any experience?

Rusty.

[rusty05Member@rusty05Join Date: 2011Post Count: 94]

February 23, 2013 - 9:46 pm

Re the wooden strips, do you mean the joining strips on a fibro wall?