I have read the book, got really excited and went out and put an OnA on a property two weeks ago. Very bad because I think its a good deal for a short term capital gain (its under priced) and I cant afford it.
Does anyone want to have a look at it?
Its around the 115/ a unit in Perth.
KellyDo you have anymore information on this investment ?
Do you have anymore information on this investment ?Sure, send me an email to [email protected] and I will send you my phone number for you to give me a call if you like. I’ll talk you through the situation (sounds ominous- its not) and give you the agents name and number to call. I would rather you do your own research. (as you would)
Its 2 bedroom, its a character unit- high ceilings etc, its aprox 5 kms from Perth, its over 50m2 (Maylands)
Is there anything else you want to know at this stage?The most important question. Is it positive cash flow?
Slum Lord
Kelly,
it isn’t in those bloody awful blocks down on Tranby-on-Swan is it?Some of the units in Maylands are brilliant, others are blomin awful!
I don’t know that the units would be cash positive. I did a lot of research in Maylands about a year ago and the rental returns were not that brilliant. THe standard of tenant could be questioned too. (I used to work for telstra and had to do a lot of the phone connections in that area…Dodgy dodgy people).
Then again, it may have all changed whilst I have been away. Be careful with the council too, as Maylands is now under the City of Bayswater and they can’t seem to make up their mind with what is happening in Maylands. I would be very careful with you figures and go there at night to really get the feeling of the area.
CHeers
Steph.P.S. What I have said here is purely my own experience and should not put anyone off from checking it out, naturally.
Success is 1% inspiration and 99% perspiration.
Tranby-on Swan rang a bell for me – there were some long running disputes among various owners, which ended up before the Strata Titles Referee. It was several years ago, and I can’t remember what exactly was the problem, but if you’re looking in that area, I think some research is in order.
Kelly – If that’s where you bought, I hope there’s no problem.
Also – if you can’t afford it, is the bank going to lend you the money?
Cheers
MElysium-M,
You heard about Tranby-on-swan too! Ha ha!! Bad bad publicity for an area that should be a lot better than it is. Unfortunately, I think it still does attract pretty awful people to that area. WEll the bayswater side of Guildford road that is. THe other side of guildford road, the river side, is a much better area as it doesn’t seem to have all the dramas nor the high rise apartment blocks.Hope that helps a little more Kelly.
Steph.
p.s. I grew up in that area, just thought you would like to know… WEll morley area really.[
]Success is 1% inspiration and 99% perspiration.
Agree with Scremin
A lot of dodgy people in area..Northbridge etc only down the road. lot of rental units here. worked for a company and did a fair bit of process serving in the area [
] fun.. not!Then again some nice places close by too.. “the Pennisula” “Ascot waters” “Sandringham” etc taking off and not to far away… guess you never know
do a fair bit of jogging in the area and drop into Tranby House now and again for coffee.I love this chat board people get excited pretty quick. Its not a high rise, its only a two level block, its on Guildford road on the corner of one of the Avenues.
hmmm, Gulidford road itself.. Um. Riverside or Bayswater side?
Go visit it as night on a weekend to see what sort of people are around. It will give you a better idea of what your tenants would encounter.
We did that at the place weare renting and I am glad we did. It proved to be a lovely quiet area with great neighbours. Haven’t met any of them but I never hear them!!
Maybe that would be an idea too. knock on the neighbours door and have a chat to them about the block of flats. It owuld give you a better idea.
That’s what I would do anyway Kelly.
Oops, I just realised I am under my hubbys ID.
Steph.Work smarter, not harder!.
]
] fun.. not!
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