Hi everyone,
I am currently living in Canada but returning to OZ early December to live and am planning to devote my time to serious property investing and a little bit of traditional work on the side. I already have one property in Adelaide and two great condos on the waterfront here in Toronto. All are rented and +ve geared. Actually the rents in TO for a 700sq ft condo are huge so these are putting $800 a month back in my pocket after expenses. I have a few hundred thousand $ to play with and steady income from my core business so I can afford both the time and the money to get serious about building a property portfolio.My issue is I have been away for 8 years and while I have kept up on what is happening back home I am a bit out of touch with respect to the hot spots in real estate. Since I semi retired a few months ago I have been researching but there is seriously conflicting data out there.
The foreclosure market in Canada and the US is very hot for investors, does Australia have a central site that we can go to for foreclosure/repo listings?
I would like to have at least three more properties by the end of first quarter 2006 so if you have any advice on hot spots, it would be greatly appreciated.
Thanks and looking forward to returning to the homeland
GT
gt
Hi,
I had the same problem as you, after spending 3 years in Canada and being exposed to all that creative foreclosure stuff, then coming back to OZ and finding that no-one knew what the hell I was talking about!Will you be coming back to Adelaide? If so, send me an email and we can chat. There are specific ways to get things done here, but there is no way I can summerise things into one forum post!
Cheers
Xenia
We buy properties in Adelaide. Immediate Cash Settlements, No Agent Fees.
[email protected]
phone 0412 437 582Hi Gt
Good to see you have seen the light and returning down under.
Wow things have moved in the years that you have been away.
Unfortunately, in Oz unlike the US properties where the mortgagee has taken possession are normally taken to Auction or sold through real estate agents nominated by the mortgagee and a list of such is not available publically.
Whilst much of the Country is experiencing a levelling off in price increases both the States of WA and QLD are still moving in the right direction due to a variety of factors.
Might like to view what is available by looking at http://www.realestate.com.au
Cheers Richard
Ph: 07 3720 1888
[email protected]
http://www.yourstatefinance.comSpecialising in US & IP finance.
Richard Taylor | Australia's leading private lender
Thanks Xenia and Richard,
xenia I will definitely send you an email and yes I am returning to Adelaide on Dec 7.I am sure things have changed over the past 8 years in OZ and I am glad to be returning to a stronger economy. I have watched quietly from a distance.
Perhaps there is a great biz opportunity in setting up the foreclosure opportunity for investors in Australia so they get the same opportunities as the states. Something to explore. I have heard a lot about the Perth market and the coast pretty much anywhere globaly is strong but I also have heard and been looking into the Darwin market. Is it true that it is strong for investors and in Adelaide is the Goolwa, Pt Elliot market as strong as they say.
One more question, Condo’s are hot in the US and Canada, over here they are very lucrative for investors. Obviously location and size are important but are Aussies of all ages trading the single family dwelling and embracing the condo lifestyle.
Cheers GT
gt
Stay in the Canadian market seems to be on fire at the moment , this market has had its day
Monopoly, my favourite game
Interestingly there appears to be quite a few people from ozzie who have taken the plunge and bought property in the USA, as there are deals there that can be bought as cf+. These deals are no longer in OZ as you have to be a creative and make them cash positive…
There is still money to be made here. IMO at least have a look at the USA on your way over…Hi GT
Where in Toronto are you condos ?
Sounds like you would do better inv in Toronto.
Pen
Hi Pen,
My Condo’s are on the waterfront in Toronto. It is called the Zen bldg at 10 Navy Wharf. Good Sq Ftge, central, state of the art rec centre for residents and strong capitol growth. Up $30K on a $200K condo in the past year. There are not many left and there are certain floor plans that are the pick to get. If you are interested go for a 6 or a 3 plan. The 9’s are awesome but come with the price tag to match. Rents on a 700sq ft Condo in this building are about $1,600 a month and long leases are sought. They look into the top of the Dome for sports and over the lake. No more waterfront hi rises will be ready for occupancy in this locale until 2008. It is a great buy.
Check it out at mls.ca
cheers GT
gt
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