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    New deal for the naysayers.... Chester Hill Sydney

    Hi Handy & Geoff Handy: Its a shame you feel that way. My post had nothing to do with self promotion. If I were that way inclined or if the post was intended to be self promoting, I would have several tags or signatures under my name and at the end of my posts. Further more, I would be a lot...
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    New deal for the naysayers.... Chester Hill Sydney

    Hi PB and Nathan I would consider myself an active investor (have been doing it full time for 8 or so years) and would be happy to pay $5,10,15k for either of you to find me a property similar to that that has been talked about here or one that represents an excellent investment...
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    New deal for the naysayers.... Chester Hill Sydney

    Hi Evand Rather than shoot Nathan down with "I've seen a million this and a million that", how about just a simple good luck and look forward to the results and final figures. I'm fairly sure the people he purchased for have done their research and costings and are more than confident with a...
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    Sydney Catchup Parramatta Rydges 7/4/2009

    see you there
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    what's the greatest capital gain you've made?

    My best is probabley one which settled a few months back. It is a block of 9 townhouses in Sydney for 1.1mil (122.2k each) rented out for an average of $180 per T/H per week. I immediatley raised the rent to $250 and $275 per week. I spent 2k per T/H which included surveys, strata, council etc...
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    what's undesirable to buyers

    "Price"......Thats it for me. I'll buy a port-a-loo on the moon if I can get it half price.
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    make over of very old fibro house-suggestions---

    In my opinion, forget the bricking option as too expensive, forget the rendering option as I am yet to see a decent rendered fibro, foret the paint job as it will look like a freshly painted fibro, so the only option I would suggest is to clad or wetherboard. In Sydney, it costs us around $50...
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    Sydney - out west - what suburbs

    Personally I would be looking for suburbs giving a 7% yield or better where there are also signs of recovery. Having said that, my picks are Penrith, Mount Druitt, St Marys central and south, Dean Park and Oakhurst area's (anywhere there is a high density of owner occupied properties).
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    What is a lowball offer?

    I agree. I usually compile market comparables together with recent lender valuations, then structure the offer in writing stating "That my offer is based on recent sales and lender valuation, therefore taking this into account, my offer is $**********". We recently purchased a property on the...
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    Good news story

    Well done Nathan, you couldn't build them for that. You've purchased better than wholesale.
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    Sydney West -St Marys and Colyton

    Look around South St marys as it is more a owner occupied area and close to all amenities. Another good are close by is Werrington through to Penrith in particular Kingswood (not Kingswood Park). As with any purchase, make sure you purchase it at least 20% below market value and then enjoy the...
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    Buy, renovate then sell? Does it work?

    Truely, It's not that hard. As i said, we organise to move in under contract with a list of works to be carried out. The solicitors acting for both parties then communicate and work out the finer detail. Most people are happy if no major structual work is carried out. MAJOR being the operative...
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    Where Did U Buy Recently?

    Hi Shady Not a desperate vendor, just a motivated one. It also helped that we offered to settle in 7 days.
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    Buy, renovate then sell? Does it work?

    Its not that hard to find them actually. We just ask. It also helps to have the agents to select properties that they know the vendor will have no problems with the access. We usually offer to pay rent whilst in the property. The contracts are really no different from the standard contract. We...
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    Where Did U Buy Recently?

    Purchased a 3 b/r house In Penrith NSW. On the market for 320k, got it for 200k. Corner block with all the right ingrediants for a duplex if desired.
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    Buy, renovate then sell? Does it work?

    Hi Evand You're right in saying 10% is gone on in and out costs. Having said that, I think if you are only buying 10% under value in any situation, thats still not enough, even if you are a buy and hold investor. The trick we have found is to get early access and a delayed settlement, get in...
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    Buy, renovate then sell? Does it work?

    Hi All I think the buy and sell method is good only if you are tipping in some proceeds to properties you hold as well. We bought and sold 14 (I think) last year and are on our 5th for this year. The proceeds are put back into our "hold" portfolio to reduce debt and the rest is used for...
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    Who here trades property for a living?

    We trade as well. Last year we traded 14 properties while also adding a few to our "hold" portfolio. In a perfect world we would hold most of them, however, cashflow is king. Having said that, I am of firm opinion that there is no use holding a property just for the sake of it and hoping it will...
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    How to ask for vendor finance?

    Hi There From experience, I think this is the best time to be asking for vendor finance. The market is slow and most are in a negative frame of mind in terms of sales. We usually type up 3 offers on the one sheet when trying to obtain vendor finance. The first offer is usually very low with...
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    Paint, carpet, kitchen and bathrom - how much?

    Hi Dave If you hunt around and find materials yourself and have the different trades use them, costings would be: Bathroom $5,000 Kitchen $5,000 with stainless steel appliances and granite all installed Carpet for 3 bedder $1500 (laid) Painting for 3 bedder around $1500 Verticals $1200...
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