Any one got any ideas on the Wharf Development in Mindarie keys ?? To buy and build and sell later ??
Mindarie, Clarkson, Merriwa, Ocean reef etc have all done very well of late..
New rail link in Clarkson soon ( Oct ) plus large property development close by..
Didn’t knowe about wharf redevelopment, however.. Great !!
a few of us here have IP’s in the area..CG, come on down [biggrin]
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorRedwing, I’m with you, I think the rebates on Stamp Duty for FHO’s may keep the lower end of the market moving or at least it will move in July/August as I’ll bet some have waited for the new rules.
PK
PK..
Your up late ??
So was Jet$..
Speaking to a REA, he wasn’t happy, stated that majority of his prospective buyers who are FHO are waiting for July 1, he thinks Prices will move upwards, and was cautioning ‘not to wait’,however, i think he was just trying to do the right thing by his vendor and trying to get the property sold.[biggrin]
Then reading in the paper, according to REIWA the market has slowed due to FHOG stamp Duty and July 1 date and they expect more activity come July, of note was there are many more properties on the market now too..
REDWING
How’s the Adelaide and Darwin markets ??
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorHi Redwing,
The comments made by the real estate agent re FHOB mirrors my undertanding and knowlegde. SOmeone I know picked up a house at a reduced price because the FHOB have temporarily left the market. He paid more in stamp duty but made saving on the purchase price.
Derek
[email protected]Property Investment Support Available. Ongoing and never stopping. PM welcome.
Who knows anything about the wharf redevelopment??
My parents have a house there and Ive heard nothing about it?
PS- they built this place in 2000 for 380k and is now valued at over 700k! 180 degree ocean views too! [suave3] Ten times better than stinky sydney! hehe
Luke [cap]
Hi all
Am relatively new to this property investment thing (in fact, just joined the forum for the first time last night – WOW! great place to learn and participate).
I’ve got a place in Mindarie too (out of luck really), which has done quite well. Other than the Wharf Development which was mentioned – they are selling split level blocks with ocean views there for around the $500,000 mark. I am wondering whether it is a good idea to buy it. Weighing the fact that land will bring no cashflow whatsoever.. and against the thought that maybe it will be good capital gains and I may want to build on the land later?
Any thoughts would be great. Thanks!!
Cant really comment on that, it all depends on what your long term strategy is…
Mindarie will always be unique in its location and its layout. Most of the newer blocks (last 5 years) have covenants on the land as to what you can build so the quality of the area is of a higher standard in general.
What size are those blocks for 500k?
When I was in perth for Easter I saw the Harbour Rise blocks in Hillarys for 400k, and they were around 300m2!
If you can afford to pick up a block here and keep it without affecting your other financial goals Id say go for it. -Mindarie is a great spot! If holding a piece of land is going to set you back dont do it. [biggrin]
Luke [cap]
Blocks at about 800 sqm.
Even if I can afford it, I also wonder if the 500K can be better invested elsewhere..
True, would be nice blocks im sure, but definitly a LOT more you could do with that much dosh
10 properties for 50k maybe? [biggrin]
Or if I had that much Id grab a 4×2 in Quinns for 250k and a couple of units -one in Wembley, and one in say Maylands or even Bayswater…
Just a thought…
Luke [cap]
Originally posted by yarwood:Thanks Rugbyfan and Redwing …
I have never even picked the winner of the Melbourne Cup! ..so does anyone have any hot tips for the next hot spot?? please?
First post. I like Armadale. It is cheap, ignored and has the freeway going past it in future.
Good Luck. My problem is a lack of finance. Still, that can be overcome.Thanks Mortgage Advisor
I am about to head overseas at present but will address the income/loan issue when I return. It will be interesting to see the price differences cased by the FHO stamp duty break. I don’t know that Armadale will be too affected as it is not a favourite spot yet. I think the closer suburbs like Thornlie and Queens Park will feel it more, and the newer ones.
We will see.Hi LA
if you are thinking about spending $500,000 on a block with no return, but expecting great capital growth, which you will surely get in Mindarie.Why not consider other coastal areas, which have great capital growth potential, but have the additional bonus of a house giving you a rental return NOW…. Seems to make alot more sense. You may be lucky enough to be able to buy 2 coastal IPs.
Try North and South Coastal strip, plenty to pick from. [biggrin]
Thanks Marisa for your message. Also thanks to Luke who wrote before. As IP, the more I think about it, a block doesn’t make much sense as it gives no returns in the meantime.
So I think I will keep looking! I like the idea of the Coastal strip. Quinns Rock? Rockingham (or has that already increased too much?). What about Yanchep?
Rockingham is going great guns i believe and has potential to do well in the future, i expect more developements there near the ocean..
says he *gazing* into the crystal ball..
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorCan I just ask why buy in Perth?[ohno]
You are basicly buying on a gamble that prices will go up (they generally do but can anyone tell what the price of a property will be in 12 months, impossible).[thumbsdownanim
Unless you manage to CF+ it you are just plain gambling with lots of money. I’d rather get a cut every month and there are places outside Perth that will do that for you easier for a B&H but you can do LO’s etc in Perth if you want to lock in you profit now.[thumbsupanim]
I’d rather be certain of something now rather than living in hope of something in the future.
[jerry]
Later……..
Hi Hotrod,
Any clues about areas outside Perth that give you +cf ??
Are you talking about regionals such as Gtn. and up North ?
Are they so +cf that interest rate rises will not turn them -cf…I am curiousKP
Have been looking on the internet at Quinns. It appears there are a number or 4x2ish properties about for sale at the mid 200K mark. There seem to be few properties for rent in the same area.
Would this indicate that perhaps there is strong demand for rentals/low vacancy rates?
Cheers,
DennisPM
That is correct. Regionals can give more CF+ and they are “up north”.[withstupid]
There is enough fat [biggrin] to allow for rates going south.[angry2]
I’m of the thought that money put in your pocket now is a hell of a lot better than praying that your $50 $100 or what ever you fork out of your own pocket may be worth some thing later.
Later……..
Hi Hotrod – I think it depends where you sit on the fence. I don’t care what anybody says, property will go up in value, hence it is not a gamble to negative gear. This is even more certain given Perth’s growth. I believe it is more of a gamble going to a town where premium rents are being paid because even the locals don’t have the confidence to invest in the real estate. Kalgoorlie is a prime example of this (see other threads) where it seems to boom and bust at least once a decade. I think the gamble is focussing on todays high returns without regard to the quality of the asset you are buying. The only regional area I would consider would be Bunbury, as it will eventually just become part of one huge suburbia stretching from Jurien Bay to Albany (as depressing as that thought may sound!).
Extensive list of ‘Off The Plan’ property available for sale in Perth.John – 0419 198 856
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