Oops I did it again

[sonic]

What kind of property was it skater? A hosue for $195K sounds pretty good in sydney, how many bedrooms? thanks.

 

[skater]

Hi Sonic

It was a three bedroom brick/tile house with teenage retreat located in Western Sydney. Yes, it was a good price for it. With the market the way it is, I'm only interested in something that has a good gain locked into the purchase price.

 

[sonic]

Mate, thats a damned good buy, congrats

Can I ask what the estimated rental would be (prior to renovation of course) or is it kinda a dump thats not really rentable?

i live in the east and find it hard to find place around her affordable (for obvious reasons!!!)

cheers

 

[quoll]

He would indeed be a great asset to the forum. He & his family own in excess of 50 properties or so I am told. He does come here & lurk from time to time, but hasn't ever posted. As I said, he is a very nice guy & would make a great asset to the forum.

I'm surprised at how many people have 30+ properties. 5 years ago I would have thought having 50 properties was ridiculous and wouldn't have understood why, but now I think well done, your've worked hard and done it, congrads.

cheers
quoll

 

[skater]

Mate, thats a damned good buy, congrats

Can I ask what the estimated rental would be (prior to renovation of course) or is it kinda a dump thats not really rentable?

i live in the east and find it hard to find place around her affordable (for obvious reasons!!!)

cheers

It will have 2 rentals. The house $175pw & the flat approx $95pw

Oh, & it doesn't need a reno.

If I get around to it, we might do some minor works, but not a priority.

 

[skater]

I'm surprised at how many people have 30+ properties. 5 years ago I would have thought having 50 properties was ridiculous and wouldn't have understood why, but now I think well done, your've worked hard and done it, congrads.

cheers
quoll

Yeah, I know. I'm jeolous.

He does cheat a little though. It is a family conglomorate (spelling?) of three families I believe. He's still doing great.

 

[demoman]

Hi Skater,

It will have 2 rentals. The house $175pw & the flat approx $95pw

Oh, & it doesn't need a reno.

If I get around to it, we might do some minor works, but not a priority.

Well done........you must be chuffed. Just goes to show that there are still good purchases in the present market.

Cheers

Jared

 

[Kazda]

Hi Skater,
Would it be possible for you to advise what the suburbs were in western sydney that have been buying in, including your recent purchase in that area.
Also, if they were tenanted at the time of sale, and if not tenanted - are their problems in finding tenants ?

 

[sonic]

congrats skater thats a damned good buy with the rental return.

i've mainly only focused on potts point (i've been looking every weekend for the past 3 months) and finally settled on that studio for $170K.

should rent for $220 conservatively, but there are strata fees of $400 per quarter...

 

[skater]

Hi Skater,
Would it be possible for you to advise what the suburbs were in western sydney that have been buying in, including your recent purchase in that area.
Also, if they were tenanted at the time of sale, and if not tenanted - are their problems in finding tenants ?

I'm sorry Kazda, I believe in teaching someone how to fish, not handing them a fish. BUT if you search through some of the real estate sites you will find quite a few in Western Sydney. Probably areas most people would be horrified if you told them that is where you are buying.

None of my recent purchases have been tenanted when I purchased them, & at the moment it is a little slow getting new tenants. I have dropped my rents slightly so I'm not having any problems.

 

[skater]

congrats skater thats a damned good buy with the rental return.

i've mainly only focused on potts point (i've been looking every weekend for the past 3 months) and finally settled on that studio for $170K.

should rent for $220 conservatively, but there are strata fees of $400 per quarter...

Congratulations on your studio. Is it in a new block?

The only units I own is a block of 4 in regional NSW.

 

[Kazda]

Not a problem Skater. I've been looking around Blacktown area for some time now without any luck to find a house around $200k, so obviously that's not western enough of Sydney. I'll have to get out my street directory to search further out.

 

[skater]

Not a problem Skater. I've been looking around Blacktown area for some time now without any luck to find a house around $200k, so obviously that's not western enough of Sydney. I'll have to get out my street directory to search further out.

Ah, Blacktown is pretty west. Bargain hard!

 

[Dash]

Hi Skater
Well bought on the weekend. We'll have to stop meeting like that as people will begin to talk. I am thinking that maybe I should pay you to stay away from these auctions or better still, you can pay me. The day of the auction didn't end up being a complete write off for me, I got to see your happy face and also managed to buy one in the next suburb for a few more dollars. Once again, well bought and see you at the next auction

Dash

 

[sonic]

Congratulations on your studio. Is it in a new block?

The only units I own is a block of 4 in regional NSW.

no its quite an old block but its been refurbrished. i just checked with my lawyer today who has run a strata report. apparently the building is not fire approved or its not stated.

should i worry? i heard some buildlings have slapped on a heavy levy because they had to get it fire approved?

does anyone know if this is a big deal or am i over reacting? do all old buildlings eventually need fire approval? can i call the council to find out if the buildling is going to require fire approval in the near future?

 

[skater]

Hi Skater
Well bought on the weekend. We'll have to stop meeting like that as people will begin to talk. I am thinking that maybe I should pay you to stay away from these auctions or better still, you can pay me. The day of the auction didn't end up being a complete write off for me, I got to see your happy face and also managed to buy one in the next suburb for a few more dollars. Once again, well bought and see you at the next auction

Dash

Ah ha, you registered at last I see. You can have the one this weekend, I know you will be interested, but I will be away. Let me know how it goes. Good luck.

Congratulations on the new purchase. Is that for you or someone else?