Forum Replies Created
Glen,
Further to this where are you from?
I am based in Sydney and I am setting up a property investing group of like minded people from this forum, that are new to this that can meet once a month, with some people from this forum that have a bit more experience.
Nobody would be allowed to sell anybody anything, it would all us meeting and showing the others what we have been doing and asking questions.
Would you be interested?
Message me here if your are keen and I will come back to you by next weekend.
Thanks
Hi fokes,
Further to Glens question, has anybody had any experience with flats that can be strata tiltled in mining or regional areas?
I have reschered a few towns in central QLD and central NSW that have these sort of offers for under $100K for the full building of 4 or 5 flats.
I feel that I should be able to raise $150K loan, as this is my maximum any bank will let me touch at the moment, and then I was thinking of doing an option, and then getting a DA.
Once the DA comes in going back to the back to raise more capital for the renovation costs and then selling off each unit for a profit.
Has anybody done anything like this in the regional areas?
Thoughts?
Amit Thaker wrote:Shawnfromsydney, I am going to Mark Rolton’s seminar either on 31st May (Masonic Centre, Sydney) or 2nd June (Sebel, Parramatta). I am registered for both. Which one are you going to? I will PM you my mobile number, may be we can catch up at the seminar
Hi Amit, sorry did not get back to you until now.
Yes I actually went to the semiar yesterday at Parramatta. I did not sign up for anything. Thinking about it, because there was some great information he offered. To be honest, I cant really afford either the $9000 or $6000 package, but if I was going to do either I would want to pay up front rather than pay in 11 x installments, becasue I want my partner to have the free ticket. But I did like the fact that Massland put up all the dollars for the project. So for somebody like me this is gold, because finance is an issue.
What was your thoughts, and did you sign up at all?
I am hoping to try to start up a group of like minded individuals here in Sydney, that realy want to get into or have been involved in property investment. I already have 1 person from this forum who has offered to be part of this and has some great experiences to offer.
Would you be keen to join as well?
Message me here and I will come back to you……It might be a few days cause I generally check this over the weekends.Thanks in advance?
Thanks Richard for your comments. It’s great to be able to chat directly with some experienced operators on here !!!
Yes I am not going into this with any illusions about costs involved.
However, if I have at least the experience behind me I may be able to try to get some vendor finance or joint venture partners involved in some future projects.
In relation to the Sydney issue……my wife and I are Queenslanders and will be retuning back to Brisbane within the next 6 – 12 months after sticking it out in Sydney for close to 10 years.
So I would very interested in offering my services for any projects that you were willing to have me tag along with, when I actually get up to Brisbane.
It would be great to keep in contact between now and then if you wouldn’t mind a virtual beginner throwing a few questions your way from time to time? Your thoughts?
Thanks in advance
DarwinBound wrote:The only problem is that you no longer have a lifetime membership because they changed it. Sure that is what they said to you when you joined but the branch manager is now supposed to charge you for ongoing sessions.To join now is about 5.5k for 18 months then you have to pay again.
when you go along to a Destiny branch make sure you have an appointment with the franchise owner because that is who you will be dealing with not Margaret. She gets you in the door and they keep you.
The branches that had the wrong people or that were in the wrong location just went broke costing the franchise owners a lot of money (including two in the same location at different times) and some run by Margaret and her Husband closed down because they could not make them profitable.Emptyvessel you must have a great manager you are working with and that is great but mine is long gone and believe me if they are doing a good job with you it is all down to them because they are getting no help from Margaret.
Don't get me started… Ex client
Yes i agree with you DarwinBound, I too have had some experience with them and found the same issue that you have to be with the right office. A point to note, Neil Jenman recommends her immensely so she claims, but I have sent questions to Neil Jenmans web site about these claims and he has never responded……No surprise as he only responds if he is not aligned with any of the so called proerty experts out there.
Her claims are that Neil Jenman recommends her programs, and says that she is the most honest out in the market…….but she still sells you her course for $5,500 and recommends properties to buy………..I was a little put off by this.
Most of the property experts sell their program's for about this price, but I feel that you should go to a few FREE property days first and then come back onto this forum and ask some questions about the person and their program.
That is exactly what I have done, but not I can afford any of the programs anyway…….But I can still learn.
i missed it too and im in sydney…..Do you do any proerty options at all Nathan?
<moderator: delete>I would rather take a 20% profit from one of Mark Roltons Massland property option deals, than consider doing something like this. I am a total beginner in property investment in comparison to most people on here, but I would rather get a deal together where I could at least earn something quicker, so that I could use this to build on something else, rather than be part of some syndicate that I only got $35 bucks a week for, with the possibility of selling and making a small profit 3-5 years down the track.
Just not good enough of a deal as far as I can see.I have also thought about setting up a SMSF for puchasing property. KJM1970 could you advise how you set this up and how long it took you to do this? I might consider doing the same thing an invest in the US with this, but feel it may be safer for me to use a SMSF to invest here first? Thoughts people?
Portfolio PI wrote:GLADSTONE CENTRAL QUEENSLAND….. Okay here's what I think of Gladstone… Prices are a bit everywhere at face value (realestate.com, agents etc) which is synonymous with many regional centers in QLD. However when you dig that bit deeper you can see the consistency. There are a few areas of interest: 1. Barney point and South: I looked at two blocks there yesterday. One had just sold, it was approved for 4 x 3 bedroom units. It sold for 410k and still had 100k of headworks to pay! That's nearly the same price I can buy a house block in other towns for which will receive great growth also. What greeted me immediately in Barney point was a group of locals drinking on the beach at 1pm! The council still own a lot of land obviously as they had commission housing in the area. I think it's a great place for High density units (a lot of it is classified as high density already) however for houses I think that people will continue out west in the newer estates with all the new services and shops etc. The only agent that said that the demographics are changing in Barney point is a guy who owns a house there. None the less, in the long term I think Barney point demographics could change. 2. CBD: There are a lot of 2 bedroom units in 4/5 story buildigns being constructed with high volumes of sales around the $450,000 mark furnished. Rental returns of approx $650- low $700 are the estimates for these new ones. There are many more approved sites for developments like these and another 4 in council currently at an advanced stage. Western suburbs: this is where all the new estates are and are still going, a new woolworths is going right on the edge of town also. The shopping out there is good (approx 10 mins drive from CBD) however if you don't work in the CBD you don't need to come in to it all the time. New house and land starts at $500,000 however the standards of these homes are very poor in my opinion. It seems to be around the $550,000 range for a good package which is Val/ market value still. Many people who are spruikng the $500k packages are saying you are getting it for $50,000 less. You're just getting $50,000 of less house and or land. A $550,000 house will achieve approx $650 per week rent currently, whilst furnishing it seems to be the way to go and achieving $800-$1000. Even up to $1200 if you want to get creative and spend another $50,000 – $ 70,000. some builders are really bad! Especially Vantage homes, they are terrible here and even the real estate agents here warn against them. I feel sorry for the people that have bought some homes based on hype, when they need to resell on the local market the agents don't even like the house so what hope do they have to get the best return! I am concerned about the construction workforce still. It has always been my concern and it still is to be honest. In 5 years many employees may not be here. CSG has a very large construction workforce and a significantly lower long term workforce. And the reality is that a lot of people here are a construction workforce. Gladstone has had many peaks and troughs in history as influxes of construction workforces has coke and gone. However, of course it has always gone up in the long term. There is a lot more land coming on the market, there are currently 4 large unit sites (40+) for public comment with council. I don't have a doubt they will all rent out. But in 5 years? I don't know and I don't think I trust it yet personally for a long term hold. Land has risen from $180,000 last year to $250-$280 currently. The main shortage or residential land is NOW. Which means that land prices could be at or near their ceiling. The mining companies won't currently rent a house that is older than 5 or 6 years. This is the first time I have seen this as it seems to be unique with the Coal Seam Gas industries. I was also interested in buying an old house and subdividing the block and battle axing. However with strict council zoning for smaller developments this seems harder than previously thought. In light of this, not all rents will soar, only new houses or units. Yes I am sure they will all go up, but it won't be port headland where you buy a 3 bedroom dump and rent it out for $1000 +. this seems to only come with the new properties.I seriously cannot believe that Gladstone is getting between $450 – $500k for property at the moment. This is the average price for Far Western Sydney at the moment. I used to live in Gladstone 10 years ago, and property was only about $80K. Sydney average 10 years ago was between $400 – $420k. I knew that there was a lot of mining and industry moving into town in Gladstone, but lots of it has come and gone, and there are new players moved in but only planing to stay for about 5 – 6 years.
Other than this why has property gone up by over $450K in just 10 years in Gladstone?
I just cannot see why….can somebody explain this to me?
Is there lots of options and developemt sytle oportunities available in Gladstone <moderator: delete advertising>Hi all….yes this is my first pot on here and I have been reading quite a lot of comments on here about Mark Rolton, Dymphna Bohlt, Carly Crutchfield and other property seminar speakers.
I personally have attended A Dymphna seminar via Knowledge Source and found it interesting, but still could not get to do any of the suggested options offered by her course because I just do'nt have the capital, nor the previous experience to carry out any of these deals.
So here is my history……Bought house with my wife in 1995 for $150K in Brisbane and then got transferred with my work to Sydney in 2001 (we are still there), and then sold the house in Brisbane in 2003 for $320K after renting it out between 2001 and 2003.
You might say that a $170K profit over 8 years is pretty good, and it was. But because we were not educated in in property investment in our early years we continued to roll over all of our credit card debit into the home loans over this time and really did not have much left over after the sale.
Things are not much different now other than we are much more financially educated, but just don't have the capital to make any of our goals come to life.
I will be going to a Mark Rolton seminar at the end of this month, because he does offer a JV program with Massland where you can get 20% on your first deal and 35% for every other deal after that, and Massland put up all of the costs for DA and other costs, including offering the owner $1000 for the deposit, (with a 2 year option period), to secure the deal.
I understand that to be part of this though you need $6000 to join the program, yes you can pay it off over 10 payments, but getting $700 even as a deposit for this program will be a push for my wife and I. So even though I feel the Mark Rolton course would be a good start for us, we just could not afford to get into it.
<moderator: delete>
I hope to be a regular on here, but more to ask questions than for anything else.
