Total Members: 158,197

Tim_3

  • Tim_3 replied to the topic CAIRNS MARKET in the forum General Property 18 years, 11 months ago

    Freddi,

    have just been looking at the unit market, 2bdr brick units (older style) selling for $110-120 renting for $150 per week.
    Vacancy rate is very low (under 2%) across Cairns, sales and growth appear to be levelling.

    Speak to Chris Gay from Oconnor and Gay real estate.

    Tim

  • Tim_3 replied to the topic Excessive PM Costs??? in the forum Overseas Deals 18 years, 11 months ago

    That’s all fine as long as the assumption that a higher commission actually provides a better service than other managers who are prepared to do the same thing for less cost.

    Tim

  • Tim_3 replied to the topic Excessive PM Costs??? in the forum Overseas Deals 18 years, 12 months ago

    Thanks Geoff,

    have now negotiated 8.5% (3 properties), which is ok. A little peeved at also paying 10% for maintenance items too though! Does anyone else pay this??

    Cheers,

    Tim

  • Tim_3 replied to the topic Excessive PM Costs??? in the forum No Subject 18 years, 12 months ago

    Ozi,

    thanks – and good suggestion re the contract.

    It is a bit complicated, but I don’t have a contract, as I was piggy backing off a business that was buying, and received their discount.

  • Tim_3 replied to the topic Investment Detective in the forum Heads Up! 19 years, 1 month ago

    Yes I have bought it – however I will be requesting a refund for quite a few reasons. Firstly I think it is too basic for a serious investor. There is no capacity to rollup multipel properties or analyse the impact of investments from your own PAYE income.

    Tim

  • Tim_3 replied to the topic How RICH ! Do You Want To Become ? in the forum No Subject 19 years, 4 months ago

    here’s another small twist 4 you …

    How much are you worth today $1.2M___________

    How much do you want $6M___________

    What is the difference $3.8M___________

    How are you going to get there …….

    1) Currently need to refinance to free up equity
    2) Look for trades and private investor deals
    3) Expand existing property portfolio
    4) Continue…[Read more]

  • Tim_3 replied to the topic private investors in the forum General Property 19 years, 4 months ago

    I would be very interested in answers to this question as well. Where I am coming from is the opposite end though – what should I expect if I am putting in money (up to $100k) for private investment arragnements.

    Personal guarantees? Contracts?

    How do you go about securing your investment??

  • Tim_3 replied to the topic How RICH ! Do You Want To Become ? in the forum No Subject 19 years, 4 months ago

    Thanks Resiwealth,

    that’d be great.

    Tim

  • Tim_3 replied to the topic How RICH ! Do You Want To Become ? in the forum General Property 19 years, 4 months ago

    Hi All,

    very interesting post – some great reading here. Resiwealth I would be very interested in reading your works on goal setting, if you felt like sending me a copy I would really appreciate it, I am sure it is a worthwhile excercise to go through it.

    Anyway, in response to the orginal question:

    Target Critical Mass: $6M by August…[Read more]

  • Tim_3 replied to the topic Falling Prices – Negative Equity in the forum General Property 19 years, 10 months ago

    Nat,

    I would like to hear you support your dramatic claim with some sound reasoning otherwise – too boring.

    Tim

  • Tim_3 replied to the topic Investing in NZ in the forum General Property 19 years, 10 months ago

    Yes,

    been there done it.

    Two rules:

    1) find someone you implicity trust who knows the market backwards and give them your money to invest or;

    2) go there after doing due diligence and buy yourself.

    There is not an easy answer to this – either way you have to put in the time or money.

    Timbo

  • Tim_3 replied to the topic Found a new area for +ve deals in the forum General Property 19 years, 10 months ago

    Can someone tell me why investing in UK is so good when UK are heavily investing in NZ?????

    Tim

  • Tim_3 replied to the topic What would you do? in the forum General Property 19 years, 10 months ago

    Keep it( refinance as much as possible), rent it out, move on and buy another.

    Timbo

  • Tim_3 replied to the topic Body corporate or/and insurance? in the forum General Property 19 years, 10 months ago

    Hi Gatsby,

    no familiar with income protection sorry (except for one policy with AMP) as my super is very good for that sort of cover.

    Again differentiate between term and life insurance (I wouldn’t personally go for term insurance).

    Agree with previous comment about the need for public liability though.

    Tim

  • Tim_3 replied to the topic Body corporate or/and insurance? in the forum General Property 19 years, 10 months ago

    Gatsby,

    your body corporate are repsonsible for taking out building insurance, but you could consider contents insurance as well.

    It is worth getting a hold of a few policies and reading exactly what you are and are not covered for with both building, contents and landlord.

    I have recently done this with insurance on units under body corporate,…[Read more]

  • Tim_3 replied to the topic Inappropriate topics in the forum General Property 19 years, 11 months ago

    Perhaps the moderators should consider a caveat empor as per other forums for this type of thing?

    Timbo

  • Tim_3 replied to the topic Tracking price drops in the forum General Property 19 years, 11 months ago

    Booboo,

    the book:

    “Investing in Residential Property -Understanding the Australian Property Market” by Peter Waxman, 5th Edition is an encylopedia of facts, graphs and tables on interest rates, inflation, price movements, building approvals, migration, supply and demand factors, government determinants, business, cycle, taxation and the economy…[Read more]

  • Tim_3 replied to the topic How Long to Retire? in the forum General Property 19 years, 11 months ago

    Balliez,

    fantastic that you are aaking that question now. I would suggest that the best reason for wanting to know this however is so that you can be realistic and plan and implement that plan rather than wanting to ‘get rich quick’ (which rarely seems to work).

    Anyway, moving away from the lecture – I would suggest that:

    – roughly the annual…[Read more]

  • Tim_3 replied to the topic TOO many 4 sale? in the forum General Property 19 years, 11 months ago

    Paula,

    it might help to separate the purchase from whether you are wanting a cash flow from rent or a longer term capital gain (or a mixture of both).

    If you just want a rental and there is a small vacancy list for rentals (which you should be able to determine from real estate agents) then that is different to buying a house hoping for capital…[Read more]

  • Tim_3 replied to the topic Your First IP !! – Post here ! in the forum General Property 19 years, 11 months ago

    First IP in 1991 Logan for $73k rent $130
    now worth $180-200k rents for $185

    Timbo

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