All Topics / General Property / Who has purchased in the past 2 weeks

Viewing 20 posts - 1 through 20 (of 20 total)
  • Profile photo of westanwestan
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    @westan
    Join Date: 2002
    Post Count: 1,950

    hi everyone

    just a check to see if people are still buying or are we all just spending time on the forum talking and discussing ?

    i’ve bought 2 more to add to my portfolio last week.

    regards westan

    I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]

    Profile photo of RugbyfanRugbyfan
    Member
    @rugbyfan
    Join Date: 2003
    Post Count: 683

    I have put in offers and am hoping for at least two IP’s from the offers. As long as the figures add up and the due diligence is OK, why the hell not!

    ‘Eat rich food, barbeque a yuppie’

    Profile photo of NEWGENNEWGEN
    Participant
    @newgen
    Join Date: 2004
    Post Count: 151

    I bought a negatively geared property in Glenelg North which settled on the 6th/Feb.

    Profile photo of salacioussalacious
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    @salacious
    Join Date: 2003
    Post Count: 373

    Me with 10% deposit and 20% yeild.(Just showing of)
    Dom[;)]

    Profile photo of CeliviaCelivia
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    @celivia
    Join Date: 2003
    Post Count: 886

    Westan, I made an offer last week which got accepted and waiting for the contract now, and building/pest inspection to be arranged.

    Profile photo of yackyack
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    @yack
    Join Date: 2003
    Post Count: 1,206

    daaj10242
    You said
    <<<<Me with 10% deposit and 20% yeild.(Just showing of)>>>

    No that I dont believe you.

    What is the rent?
    What was purchase Price?
    Residential or Commercial?
    What is Area (City, large town eg. Ballarat, small town or drive through town ie main st is 300m long)? (Optional)

    Profile photo of JetDollarsJetDollars
    Participant
    @jetdollars
    Join Date: 2003
    Post Count: 2,435

    I just bought 1 more last week and currently offering 2 more properties.

    Warm Regards

    ChanDollars
    [Keep going, you’re on your way to financial freedom]

    Profile photo of Lawry73Lawry73
    Member
    @lawry73
    Join Date: 2003
    Post Count: 123

    wow u guys made buying IPs so easy…so affordable…where do u get the finances and where do you buy? small towns or big cities?

    Profile photo of salacioussalacious
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    @salacious
    Join Date: 2003
    Post Count: 373

    Yack,
    Purchase price $130,000, residential,large town 30,000 i think,rent $310 per week ,or $155 each side (Duplex).I believe i have worked out rental yield by previous posts on the Topic (deposit and costs paid by me)
    Dom [;)]

    Profile photo of james_2james_2
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    @james_2
    Join Date: 2004
    Post Count: 25
    Originally posted by daaj10242:

    Yack,
    Purchase price $130,000, residential,large town 30,000 i think,rent $310 per week ,or $155 each side (Duplex).I believe i have worked out rental yield by previous posts on the Topic (deposit and costs paid by me)
    Dom [;)]

    Was that in Geraldton?

    Profile photo of Lawry73Lawry73
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    @lawry73
    Join Date: 2003
    Post Count: 123
    Profile photo of salacioussalacious
    Member
    @salacious
    Join Date: 2003
    Post Count: 373

    Im sorry I cannot give out that information.If you look at previous posts you will see most Investors wont give away thier location.
    Dom[;)]

    Profile photo of westanwestan
    Member
    @westan
    Join Date: 2002
    Post Count: 1,950

    WOW whata response plenty of action from you guys i started to think everyone had stopped buying.
    lawry
    since you asked i wouldn’t touch it, for starters it will cost you money in 3 ways
    1. the rent will not cover the costs
    2. the property is old and may have major repairs bill ahead
    3. i don’t know Parkes but my guess would be prices have flattened out and there will be minimal capital gains, if you want to buy for capital growth don’t expect it in small centers like parkes (unless you know something i don’t know). Perhaps don’t expect it anywhere in OZ for a while.

    regards westan

    I find +ve cashflow deals in New Zealand which I sell to other investors. To be on my database send an e-mail to [email protected]

    Profile photo of RugbyfanRugbyfan
    Member
    @rugbyfan
    Join Date: 2003
    Post Count: 683
    Originally posted by westan:

    .
    lawry
    since you asked i wouldn’t touch it, for starters it will cost you money in 3 ways
    1. the rent will not cover the costs
    2. the property is old and may have major repairs bill ahead
    3. i don’t know Parkes but my guess would be prices have flattened out and there will be minimal capital gains, if you want to buy for capital growth don’t expect it in small centers like parkes (unless you know something i don’t know). Perhaps don’t expect it anywhere in OZ for a while.

    regards westan

    Westan

    I have seen this property first hand and I agree with points 1 and 2. It is overpriced and in need of some work to get it to a rentable condition. Even then it would not be +ve cashflow.

    Point 3 though, I think you will find there will be some capital gain in Parkes. There is a influx of businesses going in there to set up.

    FCL, Big W, K Mart, Homemaker Centre, Tomingley mine and the ever present IMC business (even though IMC is officialy bankrupt, the idea is still very much on many people’s cards).

    The town is expanding quite rapidly with land on the outskirts of town being sold off easily and quickly to a mix of owner occupiers and investors.

    And BTW, I do not own anything in Parkes……..yet!

    Just my 2 cents worth.

    ‘Eat rich food, barbeque a yuppie’

    Profile photo of JetDollarsJetDollars
    Participant
    @jetdollars
    Join Date: 2003
    Post Count: 2,435

    I think if one big wind heading in the right direction then it will fall down.

    Warm Regards

    ChanDollars
    [Keep going, you’re on your way to financial freedom]

    Profile photo of peterppeterp
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    @peterp
    Join Date: 2003
    Post Count: 307
    Originally posted by james:

    Originally posted by daaj10242:

    Yack,
    Purchase price $130,000, residential,large town 30,000 i think,rent $310 per week ,or $155 each side (Duplex).

    Was that in Geraldton?

    That price is not out of the question for a duplex in one of Geraldton’s housing commission suburbs, though even that would be a good buy these days. 1980s villas in good areas go for not much less than $90k (>$100k for something newer).

    Geraldton is a low rent town. A 1980s duplex half in a good suburb near the beach fetches around $125pw, while one in a lesser area would be nearer to $110-115pw. If it was furnished $155 might be possible. But it would need to be in a good spot given that plenty of reasonable houses rent for about that or less.

    Peter

    Profile photo of melbearmelbear
    Member
    @melbear
    Join Date: 2003
    Post Count: 2,429

    Way to go Dom! Although on PP the yield is 12.4% but I’d take that most days of the week!

    I’m not buying, but I’m seriously hanging on a contract exchange for Thursday on one I am selling. Should free up $60K for me to invest further and turn into $70K cash by July 05!!

    Cheers
    Mel

    Profile photo of redwingredwing
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    @redwing
    Join Date: 2003
    Post Count: 2,733

    [^]CONGRATULATIONS TO ALL[^]

    REDWING

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Profile photo of kyl_37kyl_37
    Member
    @kyl_37
    Join Date: 2003
    Post Count: 18

    Im settling on my 3rd IP on 20th

    :-)

    Profile photo of Esther TanEsther Tan
    Participant
    @thewizard
    Join Date: 2003
    Post Count: 32

    I put an offer down in January. Due to be settled in July on a SE QLD Property.

    It is negatively geared. However I want capital growth in my portfolio to help me buy further properties in the future.

Viewing 20 posts - 1 through 20 (of 20 total)

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