[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

October 25, 2008 - 12:01 pm

hi ,i have just moved to emerald and got a job in the mining industry
obviously with my real estate antenna out
(scamp will have a ball with that but i was a freelancer anyway so i didnt have a job to loose or give up ! )
really enjoying the time off between shifts
stayed in a camp for over a month and it was no fun

my notes for those who are interested
all the miners have kids, dogs (two  at least) two cars and a boat or motorcycles
so while any old shack with a roof may rent out,what your customers are looking for  needs a lot of storage and some decent fencing
my company looks for 3 bedroom houses unless a suitable number of children justify bigger
in emerald the" cap" is $450,my company is un willing to pay more
i went to the agent and asked for the rentals list ,they said "we just write the address on the back of a business card"
i took our house un seen as the previous one had gone by the time i got back

my company and several others have a really generous scheme should you choose to buy a house,and get off their rent list………

people who dont work for a company such as mine put a lot of time into the gardens etc as it is the only way they can keep the rent down

i am still constantly amazed by how few people it takes to run a coal mine,any job that can be mechanized or outsourced is one less safety concern and they are way concerned about safety
so far no one out here is "talking it down"
in fact the vibe here is like sydney back in the tech stocks bubble days !
lots of people rushing around,making money and having a good time
lots of rumours about the next mine opening up etc

buying cheap in a smaller town and waiting for a mine to open is a huge punt but hey if it worked every other time….

cheers !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

July 22, 2008 - 10:10 pm

hi
my 2 c worth….
try and work out what you are doing wrong and stop
business is designed to teach you what you dont know about yourself ,so be prepared to be way outside your comfort zone

the days of buying any old crap at 5% finance and picking up ( historical advertised ) 9% growth are no longer with us
the better your financing the more chance of doing well ,
you could spend more time in this area than the fun stuff like actually looking at houses

try and find a book with a chapter on the "economic clock" it basically says there are roughly predict able cycles ,which have an effect on intrest rates,house prices and the economy in general
to be a good investor you will be going against the trends so it helps to know where they are going !

for eg i bought my first ip during the internet bubble,my friends shouted at me for my stupidity !
within a year it had doubled in value  (i refinanced and bought another….etc)
my friends persevered with the market

for what its worth i think now is a really good time to buy……IF you can get the finance right

good luck and enjoy the journey

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

July 21, 2008 - 8:58 am

im off for my medical tomorrow ! 
the work i can do  isnt advertised ….
so i have been asking every one i meet " do you know any one who works in mining ?  "
most people are surprisingly helpfull ,took a few months but
a mate rang  with a phone no i sent a cv ,then flew up at my expense for an interview and did a days trial which i loved….
result !
warning tho i was making more money than my dad as a 22 year old working in the wa desert, and had a bunch of gold shares,several motorcycles etc
on my week off i saw  the black tuesday crash on tv and laughed at the silly unfit stock brokers all winging and crying

a few days later i realised i was directly affected  !
six months later i was able to find my next job digging holes for the swimming pool co (for $250 a week ! )
its a boom and like the tech stock bubble it will stop
be  ready

good luck have fun and be safe !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

July 9, 2008 - 11:28 am

we recently got a made in china assembled in beenleigh kitchen from the internet,(the bay )
it was really really good
nice two pac great handles and hinges….
the guy who cut the granite said we had 5 grand worth ,
which was way more than we paid for the whole deal !
there were a few hassles with time and due dates,
but for the price i would use these guys again and again (under an assumed name of course … i blasted him !)
the fact it was assembled saved me a bunch of time on the install ,
and hiring a small truck midweek is not such a big deal
good luck

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

June 5, 2008 - 3:05 pm

it pays to have your ' team ' in place.so you can jump on a bargain
i also have learned it is best if they are located fairly close so you can move documents ,sign stuff ( cheques usually.. )at the last second etc
 there is always a last minute panic over some scrap of paper (so get a fax machine )
and …while getting the finance right isnt as sexy and exciting as screwing some poor real estate agent
one badly financed place will stuff your next purchase and you will end up doing it over  and paying break costs etc

there was a sign above a collegues desk that we can all learn from
" lack of planning on your part ……does not constitute an emergency on my part "
while you may feel you are getting a bargain ,you are doing a lot of pushing and shoving to get things done and putting your ass on the line if it falls over …to make some complete strangers happy
so be sure it is you who is doing the manipulating

thinking out of the box …could you make an offer plus  $xxx as an allowance for bridging finance( for one month ),or if you are really certain you will get finance make a large unconditional deposit
last house we sold still hasnt settled but as the deposit was unconditional it was released to me and the replacement house  has already been purchased ( using said funds )

before you chime in scamp we made a profit and should  do so on this next one ,so your nation wide blanket statement/opinion/ argument is
a, getting boring and b , not an accurate depiction in my experience

cheers and good luck

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

May 26, 2008 - 9:29 am

after the crazy lady burned my flat down i had two thoughts .
the first was thank god the small child was away in the care of the grandparents….
the second was  why didnt i fit smoke alarms ?

my insurance broker and property manager handled the rest

good lessons learned for the future

cheers

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

May 19, 2008 - 9:25 pm

i was told (a while ago )that real estate agents are putting the rental applications in a hat and pulling out the lucky new tennant as there are so many applicants for each property 
check with agents when you are there but it was one of the fastest growing regions
scamp bring your push bike from holland when you come over and ride up from sydney to check it out !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

May 4, 2008 - 12:48 pm

sounds like you have answered your question !
keep looking for an area that has the right ingredients for growth
in my example the state housing commission was relocating the undesirable types demolishing the fibro shacks and selling off the blocks ( three new ones out of two old ones )
i had one of the few privately owned houses in the area and a really good dog
over a year my neighbours turned from petrol sniffers to gay couples !
wish i still had that one now !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 30, 2008 - 12:30 pm

i go for  value adding  every time ,but i enjoy fixing stuff
in the past i have bought in state housing areas which they redeveloped and sold to trendy young couples and it worked well
what sells best is what is "normal" in that patch ,i live in a fibro area and for some reason the few modern low maint brick and tile places take ages to sell…….
i assume the one fibro shack in a brick suburb would be a  slow mover too
real estate is a pretty conservative sport
do your sums
an extra hundred grand for $50 a week more rent seems a bit like a dud investment
in fact i will give you $75 a week for a hundred grand !
if you start with the cheapie you may be able to buy both !
good luck and have fun

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 30, 2008 - 11:55 am

hey any chance you can increase the rent ?
that could ease the pressure a bit

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 27, 2008 - 2:01 pm

not sure if it still applies but my dad told me about the standing fences act when i was a kid, as this sort of thing would cause major head aches for the banks and financiers there is a solution,
if it has been standing ten years  and no one complained it is the new boundary
this may be the "great wall of china is to keep the rabbits out son" so i would check it out
but the old man worked in real estate finance
and from what we have heard "carried a big stick "on st georges tce at one time
cheers

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 21, 2008 - 1:14 pm

rent " tin men " from yer local dvd outlet , then sit through the pitch again
you will laugh your head off both times !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 21, 2008 - 1:08 pm

my first thoughts were  "land goes up in value ,houses depreciate "
but after doing the maths it a hundred a month  or so in your pocket ( tick )
most people dont understand easments , and tend to fear what they dont understand ( x)
id be standing on each block and thinking about aspect ,views, elevation  and drainage
and letting that influence my decision

we discovered  our council allows two dogs on larger blocks of land
as a rental that probably wont be a consideration,unless like me you have a little old lady with two jack russels as a tennant !
( d oh)

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 20, 2008 - 10:03 pm

congratulations on the business , hope it works well for you
my wife and i are having a different strategy ,looking for opportunity to add value
after our conversation we bought another fibro and weather board around the corner
it was really scruffy and poorly marketed.we think we added about 40 g by buying cheap and ripping up the carpet !
we are just in the process of going again ,this time we bought well under market value for a well presented house in this area
stump grinding ,chinese kitchen, lots of paint,white picket fence out front etc
we have done a deal our old ppor (which had all the equity)
this will slam our mortgage and all the debt will be on the latest place
till then i am paying a lot more than $300 a week !
just like shares ,it is the area you invest in (and the timing ) that is important
steves later books mention changing strategy to suit the market
( i used to buy flats in perth and wait……)
i am not trying to brag here , just illustrate how i was offered a similar deal and went a different direction due to all the fees and charges,and my belief that outer suburb land is not as scarce or desirable as inner suburbs with all the infastructure and entertainment ( i grew up in both !)
im really sorry that you didnt get a bit of growth
good luck with your decision

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 20, 2008 - 12:24 pm

nice !  im thinking five would be all  we could do currently around here
and they would have to be pretty special , to sell fast
in your case its worth  having just to controll your environment a little
any one want to buy a mustang ?

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 17, 2008 - 7:36 am

i only show my tattoos to people who have tattoos and i try to only discuss investment with people who have investment property.
this policy works for me !
units can be great as a " set and forget "
 the areas you mention are full of them so some one thought it was a good idea !
good luck

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 16, 2008 - 12:41 pm

depends how handy you are ,we just bought an assembled flat pack kitchen for  $ 3400. new . e bay !
and the appliances were on "managers special" at harvey norman $ 2000
beware there are some ( eastern ) european appliances that photograph well but are really scruffy up close.
we have to get a stone cutter to do the holes in the benches as we were hot and sweaty for granite… not sure how much that will be yet
but  timber or pretend granite laminex one could do , and for a rental might be better
i have access to a truck and the kitchen pick up address is an hour away
in kal you are up for a bit more travel time….

love the en suite idea ,that is value adding !

try not to spend too much time agonising over colours
any thing you can describe as "eggshell" is good for the walls , buy a really big tin and do them all the same  so touch ups in a couple of years are quick and easy, cheap paint takes at least three coats…….
and sadly carpet in rentals should be …brown like a milky coffee
i change all the power points for doubles and,since the fire. fit smoke detectors
 ( away from the oven and toaster or they get disabled )

shade sails , you can get them at bunnings grab a couple and some pavers and you have a barbeque area
good luck and thanks for the tips on kal , i thought it would be heaps more expensive

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 16, 2008 - 11:59 am

both in the same patch. the rules have recently changed to allow  most blocks in this area to be duplex
tho i notice the duplex units that have been  built so far  are a bit slow to sell
as are brick homes ( its a fibro area )
most people looking round here i presume still want a house
i think that will change in the near future due to development near by
back block is bigger so if i could only have one thats my preference
im a bit light on for deposit ,and the house is scruffy ,so id have to top up the repayments a fair bit
i just need to convince myself that two in one line is " value adding "

now would be a great time to win some money !

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 16, 2008 - 9:07 am

get fast internet ,a garage and allow pets  ?

[suavemechanicParticipant@suavemechanicJoin Date: 2004Post Count: 106]

April 16, 2008 - 9:05 am

its a tough one we just bought a property for a couple of grand less than i was going to offer , so waiting till the day worked for me !
i wasnt in love with the place and wanted to see what else was in the paper
 a lot depends on the weather and the medias latest beat up
at the end of the day you have to do your sums and work out what it is worth to you
and be pretty sure about that
i enjoyed the auction experience ( which was a surprise ! )
good luck