All Topics / General Property / WHAT’S AROUND??

Viewing 6 posts - 1 through 6 (of 6 total)
  • Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8

    Hi people,

    I just wanted to ask a general question in relation to buying opportunities around Australia at the moment and here from people as to what kind of prices verses rental returns are on offer in their areas and expected capital growth.

    I'm pretty new to the whole property investment researching & due diligence, but I am looking at buying IP no. 2. Im looking at a unit in Central Vic at $190K which is currently renting for around 200pw.

    I would love to hear from others and see if I should be looking in other areas as this unit may not have much future capital growth.

    Cheers.

    Profile photo of pwinnepwinne
    Member
    @pwinne
    Join Date: 2006
    Post Count: 81

    Hi Blacklab, are you looking in Bendigo or Ballarat?

    Profile photo of hewlett25hewlett25
    Member
    @hewlett25
    Join Date: 2009
    Post Count: 15

    7.6% on $250k purchase price in  Hobart Tassie

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Must admit i have a fair number of units in my portfolio and dont see an issue as long as you throughly check out the Body Corporate fees and Sinking fund provisions first.

    Just financed a deal for a client where the block of 12 units had a sinking fund balance of $102,000.
    Thats rare but very much peace of mind for the buyer that the fund has more than sufficient funds to cover any potential expenses.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

    Profile photo of blacklabblacklab
    Participant
    @blacklab
    Join Date: 2009
    Post Count: 8
    pwinne wrote:
    Hi Blacklab, are you looking in Bendigo or Ballarat?

    Hi Pwinne,

    Looking in Bendigo.

    Qlds007 wrote:
    Must admit i have a fair number of units in my portfolio and dont see an issue as long as you throughly check$ out the Body Corporate fees and Sinking fund provisions first.

    Just financed a deal for a client where the block of 12 units had a sinking fund balance of $102,000.
    Thats rare but very much peace of mind for the buyer that the fund has more than sufficient funds to cover any potential expenses.

    007…there are 3 units that sit next to each other. The only thing they share is a common property driveway. I rang the agent and he said there in no actual body corporate. I suppose this is not a bad thing? But if the driveway needed repairs I dont know how you could enforce everyone to contribute to the cost.

    Does anyone see a problem with this type of setup?

    Ta

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Blacklab

    3 units is fine and no a separate body corporate is not required under a small scheme arrangement.

    Happy to email you a Residex report on the property if that helps at all. Just need an address.

    Richard Taylor | Mortgage Broker helping investors build their wealth thru property
    http://www.mortgagecapitalaustralia.com.au
    Email Me

    100% Investment Finance now available on selected properties. Email us for further information.

Viewing 6 posts - 1 through 6 (of 6 total)

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