Search results

  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...
  16. J

    Is this possible? Subdivision.

    i've done this Main drama I had was that when you sub-divide the bank initially insist that the new title remains on the mortgage.... My project was delayed by 18 months because I had to pay down an extra 25K off my original loan to get it released off the mortgage. Not such a bad thing I...
  17. J

    We've done it!

    Cut & Run? OK... question of opinion... 4 of our 6 properties are serial under-performers in terms of Capital Gain... I have identified that if I sold the 4 off (might take a year or two to get prices that are satisfactory) we would reduce our assett base --- but would be positively...
  18. J

    Terry Ryder's 5 top hot spots in regional Queensland

    Crouching Tiger Hidden Fish I think Toowoomba is good value. And still possible to create instant equity (although not crazy dollars like in the past). Local investors playing it safe, or sitting on their hands.. But I know several locals who are active & makign money int he current market...
  19. J

    We've done it!

    PLanning for Success Hi there... Congrats - sounds like things are really going well for you. Do you work in the industry (i.e.- RE agent or solicitor or spruiker etc) or just been in the game for 12 years and going well? How many years have you been cashflow neutral/positive ?? Also -...
  20. J

    Terry Ryder's 5 top hot spots in regional Queensland

    Crystal Ball Agreed... Unfortunately if every prediction was 100% accurate they woudl be useless --- predictions themselves would drive prices up (self fulfilling prophecy). However, in the present market I'm all for that. I predict proeprties everywhere will enjoy gowth of 41%. Tomorrow :)
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