Recent content by jweg

  1. J

    Too late for Toowoomba?

    We bought an IP in Toowoomba early 2012 - and very happy so far... There are building sites everywhere (both renos and unit/townhouse developments)... a lot of activity... Hopefully going to Boom :)
  2. J

    First Big Purchase

    Anyone have thoughts on best ownership structure? I plan to pay myself a wage of 50K... which should hopefully leave an operating profit of around 170K per year --- the aim being to pay off the mortgage as quickly as possible. Any thoughts?
  3. J

    First Big Purchase

    lease or free I assume it is freehold. The vendor is owner & operator. Is the spreadsheet freely available, or at a cost?
  4. J

    First Big Purchase

    Correct Agreed - quite likely need to speak with commercial broker and/or financial advisor. Its a lodge. 4 bed residence plus 4 x 18 room lodge. Financials look promising - but need to do some sort of feasibility study.
  5. J

    First Big Purchase

    Hi all... current portfolio = approx. 1.4M mortgaged at around 70%. We are looking... possibly pipe-dreaming at a project somewhere between $2M - $3M. The basic numbers stack up -- but very worried about overpaying, and also worried about serviceability. Property is currently grossing...
  6. J

    Terry Ryder's 5 top hot spots in regional Queensland

    Signs of Life? Toowoomba still chugging along - still quite happy with our IP... have delayed some reno work due to lack of cashflow - but otherwise looking good. Was out in Chinchilla last weekend (Chinchilla melon Festival!)... developers spruiking H&L in the mid 400's. Too scary for me -...
  7. J

    Chinchilla or Toowoomba

    Chinchilla I agree with the previous comments --- Dalby slightly safer.... Toowoomba much safer. Unlike some of the huge coal & iron ore & gold mines of past years --- LNG or CSG is a much more mobile or nomadic mining process. There will be huge growth while construction &...
  8. J

    Rent-To-Buy

    HELLLLLLLPPPP! After very slow market - we decided to see if there was interest in rent-to-buy as a way of getting a decent price & return on our IP in a country mining town. Got a big response -- over 100 asking for information pack. We have one serious buyer - who is keen to go ahead...
  9. J

    Who's responsbility for termite damage?

    termites Their tracks/tunnells shoudl be easy enough to follow to see where they accessed the house. My bet will be nice built-up garden beds or old trees around the perimeter of the home. Answer as to who is responsible -- the owner. I've never heard of a build warranty or a pest...
  10. J

    Surat Basin

    Small Town Syndrome Personally I think the smaller towns out west will slow considerably - particularly once the construction phase of major projects slow are complete. With LNG the focus area will constantly change -- its not Mount Isa with a whopping huge mine on the doorstep for 50 years...
  11. J

    Ceiling Fans..Which type and costs?

    mercator fans we use Mercator Fans - they look good, and don't clunk compared to some of the cheapies... Usually around 260-300 per fan (including installation by electrician). Plenty of cheaper stuff available - but these are nice, will last, and in my opinion add a level of 'nice' to a...
  12. J

    Building Brokers

    better the builder you know Just an opinion... $9,000 is an extra bedroom, or a really nicely done outdoor area. Personally I would rather spend more time and know what I am buying rather than pay someone 9K. But different stroked I guess. Also - I reckon some of the bigger volume...
  13. J

    Property Development - Duplex

    Toowoomba Duplex :) It has recently gotten easier to build a duplex or two standalone units in some areas of Toowoomba. To encourgae development & reduce red tape, and also to assist with affordability, the local council has created a "Residential Choice" Zone in which you can built 2 units or...
  14. J

    The hidden extras of building

    Variation Nightmares Confessions first: I work for a builder - Hotondo Homes Toowoomba. Most of the "nightmares" I hear about are as much to do with the choice of builder than anything else. I have heard of people (with other builders!) taking out personal loans of 30K because they cannot...
  15. J

    Making the decision - First time investor

    Local or Not? The one thing I have learnt - is that its good to be somewhere close by. I live over 15 hours drive from some of my IPs, which makes it hard to keep tabs on maintenance. Also expensive. Also means a $20 repair, that I'd do myself ends up costing $100+ because the RE agent hires...
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