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]
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’
I bought a negatively geared property in Glenelg North which settled on the 6th/Feb.
Me with 10% deposit and 20% yeild.(Just showing of)
Dom[
]Westan, I made an offer last week which got accepted and waiting for the contract now, and building/pest inspection to be arranged.
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)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]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?
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 []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?
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[]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]
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’
Originally posted by Lawry73:what do u think of this property?
http://www.realestate.com.au/cgi-bin/rsearch?a=o&ag=&s=nsw&c=56115455&tm=1076898296&id=101149253&f=90&p=30&t=res&ty=&snf=rbs&cu=&fmt=&header=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]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
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[^]CONGRATULATIONS TO ALL[^]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Im settling on my 3rd IP on 20th
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.
]
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