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  • Profile photo of The DIY Dog WashThe DIY Dog Wash
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    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Just wondering if there was anyone going out to Nhill on Saturday to view properties?

    Cheers
    Leigh K[:D]

    Read, learn, grow but most of all do it.

    Profile photo of wilandelwilandel
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    @wilandel
    Join Date: 2003
    Post Count: 761

    Hi Leigh,

    I think we’ve decided against it, considering the rental return.

    Too many buyers, not enough properties. There will be no bargaining power.

    What about you guys?

    Del

    Profile photo of KateGKateG
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    @kateg
    Join Date: 2003
    Post Count: 6

    I am heading out there tomorrow, just to check it out. Some of the properties I have enquired about sound pretty good.

    Regards,

    Kate

    Aim for the moon, even if you miss you will end up amongst the stars!

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    You can bet it will turn into a dutch auction.

    The ppty will sell for more than the asking price.

    Make sure you have done your figures, and don’t get carried away.

    Good luck all,
    and may the best woman win !!![:D] ha..ha..

    Del

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

    Hey Guy’s, sorry Ladies

    whats the big deal about Nhill ?

    Nice town and all but, i wouldn’t be driving across the state expecting to find heaps of bargains?
    and if there is one you shouldn’t be putting posts like this on the forum. I know this guy who used to post where he was buying all the time now he keeps it very quiet.[:)]
    Anyway good luck, check out Ararat i know there’s a property for 72k there (not mine but i do know the seller).
    regards westan

    Profile photo of darrenbdarrenb
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    @darrenb
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    Good advice Westan. I agree,keep it to yourself!

    Profile photo of RodCRodC
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    @rodc
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    Nhill???

    I agree with westan, it’s a long drive. There’s probably a few other towns in that part of the world with more going for them.

    Rod.

    Profile photo of The DIY Dog WashThe DIY Dog Wash
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    @the-diy-dog-wash
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    Post Count: 696

    Fellas

    Nhill is a great little town, I have got a wrap there, but it is a loooong way, in this case there is one particular house that has drawn a lot of attention. And I was just wondering if anyone here was going to look at it.

    Leigh K[:D]

    Read, learn, grow but most of all do it.

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Woo Hoo![:D]

    I bought the little ugly house in NHILL. $55k renting for $110pw

    Apprently the original deal fell over, and I picked it up for about 10% below the original sale.Funny how things turn out.[^]

    Cheers
    Leigh K[:D]

    Read, learn, grow but most of all do it.

    Profile photo of wilandelwilandel
    Member
    @wilandel
    Join Date: 2003
    Post Count: 761

    Congratulations Leigh,

    Well done. You did your figures, set your price and stuck to it.

    You didn’t get “emotional” over the ppty, like others did, and you won!!

    Who said there aren’t deals out there that meet the 11 second solution.[:I]

    Hope it all goes well,[:D]

    Del & Will

    Profile photo of sushi03sushi03
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    @sushi03
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    Post Count: 33

    Hi Leigh,

    WHich property was it in Nhill???

    Regards
    Alex

    Profile photo of The DIY Dog WashThe DIY Dog Wash
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    @the-diy-dog-wash
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    Post Count: 696

    The Ugly One

    Langford St

    LK

    Read, learn, grow but most of all do it.

    Profile photo of sushi03sushi03
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    @sushi03
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    Post Count: 33

    Cool Leigh
    Congrats[:)] and happy travelling!!!!!!!!

    Alex

    Profile photo of fulloutfullout
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    @fullout
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    TheENJOLady
    can i have your email? i would like to discuss something with you.
    Email me at [email protected] quick.
    thanks

    Profile photo of jerrywjerryw
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    @jerryw
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    quote:


    Hey Guy’s, sorry Ladies

    whats the big deal about Nhill ?

    Nice town and all but, i wouldn’t be driving across the state expecting to find heaps of bargains?
    and if there is one you shouldn’t be putting posts like this on the forum. I know this guy who used to post where he was buying all the time now he keeps it very quiet.[:)]
    Anyway good luck, check out Ararat i know there’s a property for 72k there (not mine but i do know the seller).
    regards westan


    Hi Guys

    new on this site all very interesting.

    ive been through the 72k prop in ararat and it needs a fair make over to bring the rents up. currently it returns 100 pw..

    Profile photo of fulloutfullout
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    @fullout
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    If a property in a small country town is sold at 92,000, just newly renovated throughout, with all furniture, 3 rooms, big garden, and the rental is $150 per week, would u guys take it?
    What kind of returns are u guys looking at?

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

    jerryw
    the 72k property in ararat (rundell st) is sold.
    fullout (where have you been?)
    i wouldn’t take that deal 92k for 150pw renturn. I’d want well over 200pw? maybe not achievable ?
    Unless the area had a very good capital growth potential or you can improve the property. 92k is a lot for a property in a small country town, but then again so is 150pw (Perhaps too much) how does that compare with other rentals.
    westan

    Profile photo of fulloutfullout
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    @fullout
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    Post Count: 233

    Westan,
    the property is a vinyl clad, newly renovated throughout.
    I offered 92,000 with the full furniture, and the rental should be about $140 – $160 best.
    The capital growth has been about 9%, median about say $65,000 in that area….

    My offer has just been accepted.

    What do u think of it?

    Profile photo of The DIY Dog WashThe DIY Dog Wash
    Member
    @the-diy-dog-wash
    Join Date: 2003
    Post Count: 696

    Fullout

    I have just emailed you a spreadsheet that you might find helpful when assessing your deals.

    Cheers
    Leigh K

    Read, learn, grow but most of all do it.

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

    Hi fullout
    lets see the figures
    Say you put 20% deposit plus 1500 costs so you put close enough to 20,000 with a $73,600 loan
    73k interest @ 6% 84pw
    insurance 4pw
    rates/ water 15pw
    agents fees @ 8% 12pw
    Repairs 10pw
    vacancies 6pw (3 weeks per year)
    TOTAL 131pw
    Profit on 150pw 19 pw only $1000 a yr
    So your return on Investment is 5%, plus capital growth if any ?
    Sorry i wouldn’t buy this property i’d rather have it in the bank at 5% and no risk, actually i’d invest it in a property that would give me 25% Return on investment.
    sorry about that
    Maybe someone wants to give another diagnosis
    regards westan

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