[saka888Member@saka888Join Date: 2009Post Count: 21]

May 14, 2010 - 9:24 am

Hey Ros,  
 Yeah i read the sales pitch and saw the price tag.."just $19 a day".  Most of the skills you mention i learnt in high school and the others i learnt from reading & researching, not just given to me on a plate.. almost for free ( must admit i bought a book or 2) .. For someone young ( assuming melb is)  i would say the cost of around $7000 would not easily come by (assuming he earned it himself) and defiantly could be better spent … but all to their own.   

[saka888Member@saka888Join Date: 2009Post Count: 21]

May 13, 2010 - 4:39 pm

I would have to disagree with the above posts, sure it is an avenue.. but in my opinion its an avenue for weak-minded people that want someone else to do the research.. like one of the guys said on their advertising video.. “ I have been to tonnes of seminars” and im sure he will go to tonnes more.. and waste 1000s of more $…most of them want to feel like property investors, without actually taking the plunge.

If your serious about PI.. I would suggest start by soaking up as much as you can on the internet. Such these forums… news articles about property and property markets… it is such an abundant resource and more importantly its free ( other than your connection.) so its not going to bite into your profit margins..  then pick some areas that you think might be good areas.. and monitor them closely and compare past and recent growths etc.. I personally wouldn’t look at the suburb your living in now.. only because it’s an automatic emotional buy.. maybe after a bit more experience you could look back it..

As for wanting a mentor and offering him parts of the profits.. bad idea..  <moderator: delete abuse> there is a good chance you will attract a spruiker ( property has its fair share)… besides.. yet again your giving away your profit margins.. which makes it harder for your next purchase..

I would suggest you make some like minded friends… and if not anything else.. just discuss property.. Failing that there are some good blogs around where you can have some good discussions..  

If you like im happy to discuss property with you.. my email is [email protected]

[saka888Member@saka888Join Date: 2009Post Count: 21]

April 30, 2010 - 4:51 pm

Hey,

Also interested in founding an investment team or at least discuss ideas with other like minded people. Although my knowledge is limited to inner city areas (mostly CBD). i also have a secret fondness of looking at commercial property.

I will contact you both personally

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April 11, 2010 - 5:02 am

Yes Aussies can purchase property in China, however if you are buying into a new building the developer must purchase a license which allows them to sell to foreigners.

Also keep in mind the all property here is state owned,  so your really only buying a 70 year lease  off the CCP, the idea behind this is to make sure there is no apartments empty in the long run, however you never know with such an unpredictable govt.

Personally In aus I am in the construction industry, my wife being chinese, we are here quite often, but I would hesitate to buy property here, mainly cause of the poor quality, ive seen several buildings develop  serious structural problems  even 1 building that wasn’t built safe enough and has been sitting vacant for several years.

There are several articles on the net that you can read about the Chinese property bubble, which also might be worth considering.

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December 2, 2009 - 6:26 am

Bring on the rate rises!!!
The reason this Boom has made property so expensive is because of 1. Rudd the Dudd and his cash handouts, 2. low interests rates.
Take these out of the equation and your also taking ALOT of FHB and others out too. 
Sure prices may not go down but i would happily pay a few extra dollars a month on a property that will be leased out anyway than an extra 10,000 -30,000K cause all the FHB are buying on emotion rather than common sense.

Lets hope for another one in JAN and Feb and even March.

I love the words "mortgage stress"

 

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December 2, 2009 - 6:17 am

Extreme Tax System,
I think first home buyers who are renting will be hit hard, with the 30% raise in bills and of course rent etc, it will be harder than even to buy into the market.

However i dont see property getting any cheaper because of the lack of FHB. Any fall in FHB will be picked up by investors and migrants

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September 20, 2009 - 1:42 am

Hey,

It is possible to purchase common property  ( although almost impossible) the only way this can be done is for a unanimous resolution to alter the subdivision altering the CP to become a lot that is owned by the OC which then can be on sold. However I doubt you will be able to achieve this

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August 30, 2009 - 4:40 am

i agree. close it

[saka888Member@saka888Join Date: 2009Post Count: 21]

August 28, 2009 - 11:21 pm

Hey Kris,Great news, in my opinion you can defiantly stop this going ahead, for two reasons one being that they need a special resolution (75% of ALL lot owners) to lease common property ( S14 OC ACT 2006) or to  make a significant alteration to common property (S52OC ACT 2006), so that means they will need to raise this motion, usually at an AGM and it needs to be passed by 75% of all the lot owners.  (Not at committee level)And secondly I’m sure you could convince the other members not to support the motion because if someone was to fall from this balcony and break their leg then the OC will be liable as they have fallen from common property onto common property, not to mention this balcony will probably raise the costs of your annual insurance. The only way around this would be for the OC to alter the subdivision, making the balcony property of the owner rather than the OC. This would require a unanimous resolution (100% of all votes so you can stop that from happening)A special resolution of an OC is a resolution passed by-  (a)    if a ballot or poll is taken, 75% of the total lot entitlements of all the lots affected by the OC; or(b)   in any other case, 75% of the total votes for all lots affected by the OC ExampleA special resolution is required to make, amend or revoke the rules of the OC and in your case leasing of common property.

hope this helps,
plz let me know what happens

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August 27, 2009 - 10:14 am

Hey Kris,
 You didn’t mention which state you are in as legislation differs from state to state. In Victoria a OC needs 75% of the vote, on something that needs a special resolution and this must be voted on at the AGM or by ballot etc. An Ordinary resolution only requires 50% and can be passed by the committee.  You didn ’t go into detail about what they have changed but im sure even with a quorum they wouldn’t have changed anything significant and if they have I suggest you see if they actually have the power to do so and if not lodge a complaint with VCAT.  If you give more details we may be able to help you further

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August 25, 2009 - 7:14 am

ok maybe i was a bit harsh stereotyping Frankston like that, for a safer investment maybe you could invest in Bagdad or Somalia.

[saka888Member@saka888Join Date: 2009Post Count: 21]

August 25, 2009 - 7:10 am

What to avoid? Hmm.. i would just avoid Frankston completely, there’s a good chance you will be housing the unemployed or worse. 

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August 16, 2009 - 1:22 am

hi Kyanne

If you are buying into a Melbourne CBD apartment, may I recommend a book by Jimmy Thomson-  ‘the ultimate guide to buying & renting houses& apartments. I found this book very helpful with all the new strata regulations, that you will know doubt encounter.I myself am an investor solely in the Melbourne CBD so here is some advice I think you might find similar to your situation.Stay away from the serviced apartments, these lack any long term growth, I personally dislike any building that even runs a small amount these, such as Milano on Franklin street, or 250 Elizabeth st.Also be careful of some buildings that have signage on tops of buildings or something similar, this is great if the Owners Corporation is leasing it (which will lower  your fees), but in a some cases the original developer is leasing it and pocketing the money himself. This can be a strata nightmare especially if he has signed a 99 year agreement with the OC. Make sure you check the section 32 to see what is the agreement, if there is even one at all.I can see the appeal in the boutique blocks that are scattered around Flinders Lane and even Little Collins Street to a lesser extent, but I believe these are better bought for PPOR ( or an emotional IP) rather than an good investment property as you will pay top dollar for these but not necessary get the return you would in other buildings. As for a car park, I would say it’s a definite yes!  They open your rental market to a whole different market of renters (renters with cars) and they are also becoming a scarce commodity in Melbourne,For me personally I am staying out of the CBD market until at least September and more probably January, as I believe it is slightly over inflated with the FHOG, once the FHB is out of the market and rates rise, we might be able to pick up properties with better cash flow returnsOnce you have taken the plunge into the world of strata, I cant stress it enough that you join the OC, trust me you will be able to save 1000s of dollars if your OC isn’t properly run.If you want to discuss any building in particular, feel free to PM me, I would be happy to give you my opinion on itGood Luck.. and plz don’t bid against me hahaha

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August 14, 2009 - 11:44 am

Like it or not real estate is a game where people win and lose money. May I suggest a tactic, ask a mate or a relative of yours to put in an offer of about 185,000 ( in writing, so by law the agent must forward it on to the buyer) and when it gets rejected, have another person do the same.  This will put a false market value in the vendors mind and when you come back with an offer of 200,000 and he is desperate to sell,  he will probably come back to you with your original offer of 210,000. … just a thought!

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August 13, 2009 - 5:03 am

The best right as a landlord is that you get to choose your tenants, may i recommend you use this right vigorously, don’t leave it up to the managing agent.

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July 8, 2009 - 6:32 am

thanks your your advice.. its been very helpful!

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July 6, 2009 - 7:17 am

I doubt that you will find an apartment under 250k in this market that will have good growth.