All Topics / Help Needed! / Who’s Buying ?

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  • Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    Just a quick query as to whose buying ?

    And in what state?

    Redwing

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Online Positive Cashflow and Renovating Calculators

    Profile photo of oziozi
    Member
    @ozi
    Join Date: 2004
    Post Count: 262

    Redwing,

    I’m looking to buy in Melbourne.

    Regards,
    Ozi

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    I’ve started looking as well at other states with WA starting to get out of reach

    SA looks good to me

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Online Positive Cashflow and Renovating Calculators

    Profile photo of Stuart MilneStuart Milne
    Member
    @stuart-milne
    Join Date: 2006
    Post Count: 196

    I am picked up 2 in the last 3 weeks in S.E. Qld

    Stuart Milne
    Non-Conforming Specialist
    READY Mortgages
    http://www.readymortgages.com.au
    [email protected]
    Mob: 0404 056 055

    Profile photo of kum yin laukum yin lau
    Member
    @kum-yin-lau
    Join Date: 2006
    Post Count: 342

    Hi Redwing,
    It’d boost my confidence if you’d kindly explain why SA looks good. I bought a couple of low cost properties for development & everyone I know scares the s out of me with their negative remarks.
    Thanks,
    Kum Yin

    Profile photo of GJGJ
    Member
    @gj
    Join Date: 2006
    Post Count: 3

    Hi Redwing

    Know what you mean about WA market.
    I live in Albany and rent is way behind the over inflated prices down here, pretty similar to perth i believe.
    Am new to property scene with 140000 equity and 35000 in LOC on my own property. Problem is nowhere around here is close to +CF. A friend of a friend bought a property in Norseman for around 30000 returning 12-13%. Ravensthorpe and Hopetoun have gone through the roof with the mine activity. So we have started looking over east also. Goldcoast and SE Qld do still look like showing good returns. Don’t know about SA sorry

    Great forum
    First timer
    Schoofy

    Profile photo of Kiwi-FullaKiwi-Fulla
    Member
    @kiwi-fulla
    Join Date: 2002
    Post Count: 371

    I’m Still Buying!

    Over in NZ though… good 10% + yilds and good rental demand… and if not I can use Wraps, Options or 100% financing to get them there!
    Cheers
    Kiwi[strum]

    Why Rent? Rent 2 own!
    http://www.rent2ownaus.com

    Profile photo of Stuart MilneStuart Milne
    Member
    @stuart-milne
    Join Date: 2006
    Post Count: 196

    I’m not so sure about the Development Sites in Adelaide, but I am planning on flying down there within the next couple of months and offloading a mil or so of My bank managers nightmares! I mean spending some of the money he ever so grudgingly hands to me…

    Stuart Milne
    Non-Conforming Specialist
    READY Mortgages
    http://www.readymortgages.com.au
    [email protected]
    Mob: 0404 056 055

    Profile photo of js2js2
    Member
    @js2
    Join Date: 2003
    Post Count: 758

    Mmmm South Australia, I’m about a stones throw from S.A.


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    Profile photo of PurpleKissPurpleKiss
    Participant
    @purplekiss
    Join Date: 2003
    Post Count: 580

    Yes, I’m happy to buy, been checking out various states other than WA but haven’t found what I’m looking for yet.

    PK

    Profile photo of HousemenderHousemender
    Member
    @housemender
    Join Date: 2006
    Post Count: 62

    Talking of returns in various States – whe searching for properties with good returns on websites – both the domain and realestateview websites have the facility to do a “keyword” word search. If you type in the word “return” you get all the property adverts containing that word. I figure most properties with a good return would be promoting the fact and would therefore contain the word “return” in the property description.

    I’ve found a few great properties in most States over the past few weeks – but I’m not buying though!!

    Profile photo of Kiwi-FullaKiwi-Fulla
    Member
    @kiwi-fulla
    Join Date: 2002
    Post Count: 371
    Originally posted by Housemender:

    I figure most properties with a good return would be promoting the fact and would therefore contain the word “return” in the property description.

    I’ve found a few great properties in most States over the past few weeks – but I’m not buying though!!

    I would suspect you would be paying retail in most cases as this is a conditioning technique to ATTRACT investors by agents….
    95% of the time the property s retail or higher and you are buying against the investing grain… buying @ discount…. you make your money wehn you buy people and not when you sell!!! …as if you guys didn’t know right??!! – most houses bargains of hte century are bought off the negotiated price rather than the sales advertised price.-just in case you did not know that …. well perhaps you all did [blush2]
    Cheers,
    Kiwi

    Why Rent? Rent 2 own!
    http://www.rent2ownaus.com

    Profile photo of HousemenderHousemender
    Member
    @housemender
    Join Date: 2006
    Post Count: 62

    Hi Kiwi- Fulla

    Yes I totally agree that most of the properties advertised are retail prices and that is not the way to go.

    Yes I couldn’t agree more that profits are made when buying and not selling.

    My point was to find a load of properties with good returns to start with, then do all the due diligence and weed out the bad ones and poor growth areas etc and then get down to viewing, making offers – and lots of hard negotiating tactics to get a good wholesale price.

    My mum just bought a property off the net which she loved but we thought overpriced at $290K. We did our research of past sales etc and our suspicions proved right – we valued it at $260-5K. She eventually got it for $242K! Some people in such a sitatuion fining a property on the net may have offered slightly less than the asking price and been happy to have got say a 10K discount.

    Profile photo of PickworthPickworth
    Member
    @pickworth
    Join Date: 2004
    Post Count: 48

    G’day Redwing

    Still buying development sites in Melbourne.
    Bought a great site recently for a side by side development – double story.
    Long term settlement so can start early on the plans etc. Have already completed
    land survey and vegetation overlay.

    ‘ you will never go broke taking a profit ‘

    Profile photo of grossrealisationgrossrealisation
    Member
    @grossrealisation
    Join Date: 2005
    Post Count: 1,031

    hi redwing
    yes I am buying
    sydney da site(and os) and also always on the look out for others

    here to help
    If you want to get involved in some of the projects I’m involved in email to [email protected]

    Profile photo of mikebluemikeblue
    Member
    @mikeblue
    Join Date: 2005
    Post Count: 27

    Gday redwing,

    Yup, I’m buying in Sydney too, prices have obviously been coming off for ages, and there are some deals starting to surface that are 20% or more below their peaks.

    Bluey

    “Its all beer and skittles really.”

    Profile photo of redwingredwing
    Participant
    @redwing
    Join Date: 2003
    Post Count: 2,733

    I’m looking to buy in the next month or so..all going well with the current vals and loan top ups to lock in equity

    “Money is a currency, like electricity and it requires momentum to make it Effective”

    Online Positive Cashflow and Renovating Calculators

    Profile photo of Monty666Monty666
    Participant
    @monty666
    Join Date: 2004
    Post Count: 13

    is anybody looking at reno deals in Sydney, specifically in outer western region such as Blacktown, St Marys, Penrith ???

    Profile photo of js2js2
    Member
    @js2
    Join Date: 2003
    Post Count: 758

    What sort of property are you looking for?

    Neg geared a little, equal, or as much positive cashflow as you can?

    What’s the next property for the big Redwing portfolio [biggrin]?

    I guess you being a city slicker you will go for one in a Capital city.

    What would fill the spec’s of what you want to buy?

    .


    A variety of free comprehensive property analysis calculators and feasability program downloads.
    Developers Renovators Positive Cashflow Home Owners Spreadsheets
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    Profile photo of FatBellyFatBelly
    Member
    @fatbelly
    Join Date: 2006
    Post Count: 6

    Have any of you guys looked at whats around in NZ lately? Yes we’ve been thru a massive property boom, but there are still property deals at 10+ plus yield, some even on the asking price!

    Agree that you need to negotiate all your prices a lot in this market and making assumptions on asking prices is going to scare anyone away. Im regularly finding properties in NZ at the moment, a lot more in main centres too, that are CF+ from day one based on 100% financing.

    Mind you – I dont want too many of you guys buying our property….[suave2]

    Positive Cashflow NZ Properties
    Email me for a current list of deals
    [email protected]

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