to skwebb64
sorry, but your thread has been hijacked, hopefully it will get back on track, but dont hold your breath.
regards,and good luck
Brent2
it’s bad form to post a private message, but let’s all move on people…
cheers
rthanks richmond, you rock my world
joy to the world
I live in rural NSW and know of a property in town that fits the 11 second rule (asking price 100k return 200p/w) on the market at the moment. I am not able to follow up on it as I’m busy with something else at the moment and not an experienced investor (each single deal takes most of my spare time and $$$) but these deals do come up more often than I can buy tham. Spending hours on the internet and phone is also necessary.
Regards
SonjaWhat’s the matter boys and girls? Someone is needing some attention?[baaa]
How good or bad investment areas are is a matter of opinion not scientific fact. [blink]
I don’t own properties in Broken Hill but a friend of mine who has being buying CF+ properties before Steve even graduated from university does own two and is happy about them so far.
The question was posed to give practical answers.
An example is there for all to see, a block of flats in Mt Isa. Now in the spirit of a constuctive debate, why don’t we debate if you would purchase such block of flat or not and in each case what makes you decide and why.I start the ball:
Need local knowledge to know if it falls in local no-go-zone or not. Need to know if furnished or not. Need to know if undercover carport are available.
This town has a very high per capita income, one bedroom and two level is on the cheepest side, will probably get tenant that are not at work.Visit with an independent person that has local knowledge is essential. Note that the agent is from out of town. My guess is that the local reputable agent and Jay’s is one of them, would not want to know about this property, but that is only a guess. May be a good deal, but needs a good deal more research “in situ”.
Your turn.
May God prosper you always.[biggrin]
Marchi marc!
> How good or bad investment areas are is a matter of opinion not scientific
> fact.
totally, but…increased demand is a fact, when it happens – and one of the investor’s jobs is trying to predict where future demand will happen.
Pretty areas, ‘desirable’ areas – that’s an area close to *something* – be it the ocean, jobs, city, transport – that you think a lot of people will want. So yes, it is an opinion, but it is based on patterns.It’s only an OPINION of mine that Broken hill wouldn’t be a great place to buy as CF yields might be ALL you might get for a long time – and you might have to weigh the yields up against possible capital LOSS. – seeing as I’ve never been there.
but it is an opinion based on unease about a place which is not only remote but has only one main industry. That combination says to me, if anything happens to that mine, the town might die, and because of the location it will be hard to attract people there for other reasons.
> I don’t own properties in Broken Hill but a friend of mine who has being
> buying CF+ properties before Steve even graduated from university does own two
> and is happy about them so far.Yep, anything tends to turn good over the long term – the mine is still going strong from when your mate bought it until now, and they are probably getting crazy 35percent plus yields compared to their purchase price.
I guess I just would be dubious about buying there NOW. I feel that the whole Aus market will deflate, and broken hill too. I also feel that Broken hill might be the LAST place to go up in value in the next boom.
what are the yields there? Are they enough return on your money? i reckon you’d want at least 5 percent in the hand clear with no risk, and at least double that if there was a risk. so I’d say it would only be ‘safe; to buy in broken hill if you could get a 17percent yield or higher. What are they like there right now?> An example is there for all to see, a block of flats in Mt Isa. Now in the
> spirit of a constuctive debate, why don’t we debate if you would purchase such
> block of flat or not and in each case what makes you decide and why.
> I start the ball:
> Need local knowledge to know if it falls in local no-go-zone or not. Need to
> know if furnished or not. Need to know if undercover carport are available.
> This town has a very high per capita income, one bedroom and two level is on
> the cheepest side, will probably get tenant that are not at work.
> Visit with an independent person that has local knowledge is essential. Note
> that the agent is from out of town. My guess is that the local reputable agent
> and Jay’s is one of them, would not want to know about this property, but that
> is only a guess. May be a good deal, but needs a good deal more research “in
> situ”.I don’t really mind tenants who aren’t working, provided they are tidy and good payers with references. Sickness beneficiaries and the elderly need a place to live, too, as do full time solo mothers.
I would do due diligence about rental demand, rental prices, the chances of vacancy and the usual time to relet a property. The actual street and the neighbours. the property itself (builder’s report.) if a rental manager would take it on.
but really the most important is ‘is there demand for this kind of property?’
because no tenant = no cashflowcheers-
Minijoy to the world
Happy thoughts to those posts that didnt live to see the day. I just looked at this for the first time and it looks like a warzone. Good move Richmond in placing a balm on someones touchy points.
Lets all face it, being passionate about property is wonderful, the fact we all think differently is bliss. If we were all the same then no one would get anywhere.
Lets all be good little investors and enjoy, not critisize, each others input, however different from our own views we see it as.
Viva la difference!!!![bonjour][whistle]
DD
Don’t sweat the small stuff,and it’s all small stuff!!
Nice avatar DD!!
Yep, the girls look like they have been having a go!!
11sec solution.. is it still valid?
I don’t know about ‘valid’ (not sure what you are asking) but can you still find property that fits it?ABSOLUTELY
clean, tidy, current sitting tenants, maintained properties that aren’t feral places – my dog and I would quite happily live in them – and invite friends over for tea.
15% returns, stable populations bases with multiple industries in town. What’s wrong with that critics out there??????I am glad we all think differently, otherwise half of you would be running around competing with me for deals!!!! Which we aren’t doing because we all find our niche, and happy thoughts to all
As Mini says, joy to the world
As I say, take a big breath and get over it!!CD
CastleDreamer
Hi CastleDreamer,
I am not arguing that cheap, clean, tidy, and inhabitable residences, with good returns exist, I just said that they are becoming more and more difficult to find. It seems in most states, all that is remaining are the “dreggs”, of which one could only refer to as feral!!! Sure some might scrub up well with a bit of TLC.
Perhaps, the situation is different in NZ, but in OZ the pickins’ are gettin’ slim!!!
As for different paths….I couldn’t agree more; if we all travelled the same roads, the traffic jams would be horrendous!!!!
Keep up the good work,
Jo
What about Brisbane within ten Ks of the CBD, positive cash flow. I know how to make that happen, it just requires a little lateral thinking to turn the house into positive cashflow, but it can be done, have friends doing same as we speak.
CastleDreamer
Hi Henry,
Still favour property over any other type of investment, only because it has been the most productive for me over the years….that is not to say it is the ONLY way of making money, but it helps.
Currently “window shopping” looking at buying another IP, hopefully in the next few months. However, hubby insists on waiting till the settlement of the last one is finalised (early July). Party pooper!!!! [angry2][angry2]
Cheers,
JO
Good for you Henry,
And thank goodness you listened to your Dad!!!!
Yes “passion” is important, and not just in investing. When you are passionate about what you are doing, you tend to give it your “all” and that can’t be such a bad thing now can it????
Keep up the good work, [biggrin][biggrin]
JO
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