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  • #31
    Originally posted by TurboR1 View Post
    Almost like modifying a motorcycle... Bike ($X) + Parts ($$$$X) =/= Result
    Like those Ford 250 6 cylinder guys who spent $5,000 on their XYs and claimed their car sounded just as good and went as just hard as my HQ V8 ... yeah nah.

    [I've been infected with the Lil Boner virus]
    -

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    • #32
      I'm a reasonably seasoned investor with a sizable portfolio. There are a couple of rules that I'm looking for when I buy a property (this is for $ not love)
      1) look for add value. Look for a property that you can take to a higher and better use, eg renovation / subdivision / add a bedroom or bathroom
      2) buy problems. The bigger the problem the bigger the profit (If you know what you are doing)
      3) I'm looking for as much of the purchase price as possible being the value of the land. Buildings go down in value and land goes up
      4) look for motivated vendors / sales agents. This is a science that has taken me a long time to work out. But I can now tell if a vendor is motivated to sell within 5 minutes of being inside a home

      When you have all four you are onto a winner. To do well, you will be looking at less than 1 in 1000 listings. You have 6 months to buy, after that the market is going to turn. The rental market has turned with a vengeance. This and a strong recovery in the mining jobs market is going to see a recovery in Perth house prices. If lending standards are relaxed, it will put even more fire into the market.

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      • #33
        ^^^ How confident are you in your abilities? ^^^

        Do you freelance....or is it all for you.?
        " Imagination is the seed of life..."

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        • #34
          Originally posted by wiggles View Post
          I'm a reasonably seasoned investor with a sizable portfolio. There are a couple of rules that I'm looking for when I buy a property (this is for $ not love)
          1) look for add value. Look for a property that you can take to a higher and better use, eg renovation / subdivision / add a bedroom or bathroom
          2) buy problems. The bigger the problem the bigger the profit (If you know what you are doing)
          3) I'm looking for as much of the purchase price as possible being the value of the land. Buildings go down in value and land goes up
          4) look for motivated vendors / sales agents. This is a science that has taken me a long time to work out. But I can now tell if a vendor is motivated to sell within 5 minutes of being inside a home

          When you have all four you are onto a winner. To do well, you will be looking at less than 1 in 1000 listings. You have 6 months to buy, after that the market is going to turn. The rental market has turned with a vengeance. This and a strong recovery in the mining jobs market is going to see a recovery in Perth house prices. If lending standards are relaxed, it will put even more fire into the market.
          Some good points here. You really have to know what you’re doing with point 2) . If you fuck up there and don’t have the coin to back it, you’ll be in a world of financial shit.
          Look beyond WA for investment. There’s some affordable investment properties on the eastern seaboard. Tas gov for example is using the private rental market to fill public housing shortfall. And if you look outside Hobart, there’s plenty of bargains to be had.


          Sent from my iPad using Tapatalk

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          • #35
            Originally posted by wiggles View Post
            This and a strong recovery in the mining jobs market is going to see a recovery in Perth house prices. If lending standards are relaxed, it will put even more fire into the market.
            I agree with everything you said except this one, but opinions are arseholes and so on.

            Our population is going backwards so our supply is still exceeding our demand. That said, we haven't built houses for 4 or 5 years now so if and when the population starts increasing again it will be interesting. I don't think the mining industry is going that gangbusters construction wise. Don't remember the exact figures but it was something like $40b being spent by the big boys this time versus $130b last time?

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            • #36
              Originally posted by Gim View Post
              Look beyond WA for investment. There’s some affordable investment properties on the eastern seaboard. Tas gov for example is using the private rental market to fill public housing shortfall. And if you look outside Hobart, there’s plenty of bargains to be had.
              +1 We're glad we built our investment place on the Central NSW Coast ~4 years ago Land and build costs were nearly 2/3 of the Perth prices at the time, the value has gone up ~100k and were getting 100pw more than we were when we built and that is with keeping it down a bit because we really like the tenants and don't want to give them a reason to move

              Conversely friends of ours built a similar sized house in Eglinton (albeit on a smaller block with no backyard) and have had no real increase in value, seen their rental $ drop ~$100 below what it was originally just to get it rented which has been very haphazard at best

              Another mate and his missus are looking to semi retire in Tassie at the moment but need to sell their huge house/land in Gnangara for at least 1.25m then they can buy something similar for 1/2 the price in the northeast of Tassie and live comfortably doing a bit of part time bobcat/digger/truck work
              #1 Gold Ticket Holder for the Barfridge Fan Club
              Originally posted by Phildo
              Noted. We'll check back on that one in three years
              Originally posted by filbert
              i'll pretend you didn't know she was 13

              98 BADASS TITANIUM BLACKBIRD - Past bikes 1982 XS250 Yamaha & 1983 CB750F with 900 motor
              Ozblackbird.net Administrator

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