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I used Dixon Homes Toowoomba to build my rental house and they were fantastic. The whole process was seamless and the principal guy there is great. Everything was done promptly and communication was great.
We stayed in the house for awhile and it looked great and everything functioned well. I will be using Dixon again.
I think it does really depend on which office you deal with and who they contract to.
Dear Bronte
Wow, you are in a great position to get started. Hopefully i can help because i was in your position three years ago and still regard myself as a novice. I have similar advice to Gary. Before you buy a property you need to sit down with pen and paper and make a plan. Dont let any present limitations hold you back in making your financial goals either. What are you trying to achieve with property investing? And how much money do you want from it?
Once you know where you want to head towards you need a strategy. How active do you want to be in the process? Eg. I know a guy who has 4 -ve geared properties. He buys in the inner city or near the beach (has one in Noosa for example). They are expensive houses because he believes he will attract a higher quality tenant and is in it for the capital gain. As for myself, I do not really like -ve gearing and work for neutral or +ve properties. My strategy is to buy land (that you can subdivide) in towns near big regional areas and build. I create a fair bit of equity and have a neutral property. Others like to renovate. The possibilities are endless.
Once you know what kind of property you want to buy, pick an area. I started off by choosing the state i wanted to invest in (which was QLD) and then i got a big map of QLD and blu-tacked it to my wall. I picked out areas i was interested in (as i wanted to buy outside of the city) and started googling them, looking at coucil sites and the real estate websites. I always have a list of 5 areas going so when i make a purchase i can move onto the next one. I do check the fundamentals of the new area but i dont have that lengthy research to do again. I have crossed 2 off my list!
Then when you know the area like a local and have found something you think is worthwhile, take a deep breath and then just jump in and do it. And this is the hardest step but there is no other way. I have made lots of mistakes, nothing to expensive thank goodness but its part and parcel of learning. Be encouraged that you are in such a good position. My partner and i started off three years ago with combined income of $70,000 and $10,000 savings. No equity and no possible help from families.
Noone can give you a strategy, it will depend on what you want to achieve and what interests you the most. Wow this turned out long! Sorry
Hi there
I too have a block of land in a small town in qld. I looked at removable homes but the finance was too tricky to get and it looked like too much work to organise when we lived interstate.
We actually built a brand new brick home for just under $90,000 using Tamawood. I can recommend them they were very efficient and the house was built quite quickly with no problems. They organise all the trades, the timeline of work happening, coordinating with council etc. You just have to sit back and wait for the progress payments.
There is also a website http://www.prebuilt.com.au that you might like to look at. They build the house at their factory and truck it to your land. It is designed very cleverly so that they just unfold it when it gets to your property. Goes up in a few days. We havent used them but i thought it was interesting.
A removable house for around $50,000 might sound cheap but then you have to fix it up, put a new roof on, restump it, etc. And the bank is not happy to lend on these. However, if you have a trade background and know what you are doing it could be the way to go. Was talking to a guy in Toowoomba who does this and he sells for a good profit.
Hope this helps
Dear Peachy
Let me offer the words of Napolean HIll to you,
“Opinions are the cheapest commodities on earth. Everyone has a flock of opinions ready to be wished upon anyone who will accept them. If you are influenced by opinions when you reach decisions you will not succeed in any undertaking…..Keep your own counsel, when you begin to put into practice the principles described here, by reaching your own decisions and following them. Take no one into your confidence, except the membersof your “Master-Mind” group, and be very sure in your selection of this group, that you choose only those who will be in complete sympathy and harmony with your purpose. Close friends and relatives, while not meaning to do so often handicap one through “opinions”
So there you go, surround yourself with people that know what they are talking about and understand your goal and stick with your gut feeling!
Dear Kiwinoz
I recommend the books “You were born rich” by Bob Proctor and “Think and Grow Rich” by Napolean Hill.
Although these books sound like they are just into physical wealth creation they are actually powerful material for building your mind up, understanding what your mind can do and breaking through and over hurdles and fear.
Good luck!
Ok then. Thank you for the replies
I too would be interested to find some recommendations for a Canberra accountant and solicitor.
I dont seem to have much luck with finding good people.
Thanks for the tip redwing. I just got a 100 year loan at 5.75% for my dream home. A castle by the beach.
Thanks for all the ideas.
Yes I have tried ANZ..they rejected the property for LMI as well
