$360,000 Perth

[jaycee]

yeah no problem.

still birngs me back to the orignal question

how /what / when / where ?

Im thinking about resi, in my prce range.. but the rest, I dont know where to start/stop.. just cause I bought in Nollamara & Balga, do I keep repeating it blindly ?

what about them houses on triplex blocks, someare very rentable

a bonus would be of course buying under value, or, somethign which coudl increae in more value, this would give me more freed up equity, somethgn I dont feel Ill have "too much" of

 

[Rixter]

just cause I bought in Nollamara & Balga, do I keep repeating it blindly ?

Did, doing what you did, to get what you have already work for you?

If so, then duplicate it. Why try and re-invent the wheel.

It appears you have lost confidence in yourself? You obviously backed yourself to attain what you have now - so what's changed? Having the courage to step outside ones comfort zone is the catalyst to moving ahead.

Success is 80% mindset x 20% strategy. In other words what you think is 4 times as important than how you apply your chosen strategy, what ever your preferred strategy is be it property, shares etc etc.

Do you understand where I'm coming from on this?

 

[jaycee]

Look the first IP I bought off my mum when she mvoed house.

Seemed reaonsable, Nollamara wasn;t too bad..

The 2nd IP I just looked close to there, thought Balga might be an opportunity with large blocked houses for their land content and possible future growth,but based this on previous growth basically. I eneded up with the villa when I noticed prices were getting a bit high for me for the triplex blocks. The return on both when I bought was under 5%. I'd have been happy with a house instead, or a differnt area.

So the way you're looking at it (if I am may simplify extremely) is hat ahve you got to lose ? I guess you'r right, so buying a villa with similar attributes should work.

But I note others such as yourselves look at areas / suburbs for future growth compared to other ones, return vs. purchase price etc

I guess I figure I could try take this into account more, especially when I'll be pushing LVR to about 75%... Just not sure htow to apply too much "science" to looking up re.com or the for sale pages in the paper. satellite cities etc...,

 

[Rixter]

In the earlier years I looked for suburbs that would achieve above average growth in the short to mid terms because its the growth that allowed me to leverage into more property and build my asset base as fast and as quickly as I could reasonably afford.

To target those areas I looked to where the government, the commercial/retail and the private sectors were injecting money and then I also got in there.

In the later years I looked for areas that achieved a historic 7% growth minimum as my benchmark.

Middle market areas where Mr & Mrs Average live close to high employment areas, public transport services, major shopping precincts, good educational, medical & recreational facilities.

With the above mentioned in mind my best advice to you for attaining real wealth is to purchase good quality well located (as above) property as fast and as quickly as you can reasonably afford and then never ever sell.

Its not complicated at all - it purely people's perceptions where the complications creep in.

Anyway I hope this helps.

 

[jaycee]

suburbs that would achieve above average growth in the short to mid terms because its the growth that allowed me to leverage into more property and build my asset base as fast and as quickly as I could reasonably afford.

Exactly what I was thikning thanks to learnign how to crunch the numbers thanks to mostly you guys here.

So

1 target those areas I looked to where the government, the commercial/retail and the private sectors were injecting money & close to high employment areas, public transport services, major shopping precincts, good educational, medical & recreational facilities ?

So how do people determine the first, let's say you start looing at "government, the commercial/retail and the private sectors were injecting money" (the 2nd part of the criteria you shoudl be able to judge when looking at the shortlisted suburbs) I guess.

Thanks mate, I appreciate your time and effort.

 

[Samwise]

I would buy this

http://www.realestate.com.au/property-house-wa-beechboro-106371764?activeSort=price-asc

Why? Does beechboro have potential?

 

[Rixter]

So how do people determine the first, let's say you start looing at "government, the commercial/retail and the private sectors were injecting money" (the 2nd part of the criteria you shoudl be able to judge when looking at the shortlisted suburbs) I guess.

State & local government planning depts & websites, Big Multi national companies & their websites, State & Community newspapers, magazines, electronic news media, getting out & about networking with locals living & existing small businesses in the areas, networking with other investors, etc etc

 

[Bigtone]

Hi Jaycee,

U have 2 in Perth and close to each other, y not diversify and buy central coast nsw or brisbane to mix it up a bit?

cheers

bt

 

[Rixter]

U have 2 in Perth and close to each other, y not diversify and buy central coast nsw or brisbane to mix it up a bit?

Yes that is exactly what I do.. Its part of my total portfolio big picture for diversification to spread my portfolio across various different markets, to minimise over exposure risks and to minimise land taxes.

 

[jaycee]

Hi Jaycee,

U have 2 in Perth and close to each other, y not diversify and buy central coast nsw or brisbane to mix it up a bit?

cheers

bt

oh they are all all possibilities !

Just so many possibilities to choose from, ...blindly !

 

[INVSTOR]

Why? Does beechboro have potential?

There's about 4 different parts of Beechboro. You'd have to study area to know which parts are better than others. Beechboro has a lot of Beechboro people living there, but a lot of good people too. (Better than Midland people).

Here's a few reasons:
Brand new shopping centre and cafe's in building process - New Woolworths now complete
Extension of Hepburn Ave http://cityofswan.com/council/minutes/2009/February/4February2009/b4-1.pdf
About 15 k from city
Surrounding suburbs are more expensive
Big single residential Blocks
Some Established homes are close to price of vacant land
On the edge of Swan Valley Wineries
20 mins to beach

 

[INVSTOR]

Beechboro property look ok doesn't it !

Bloody hell it's confusing - too many suburbs not enough knowledge

If it looks cheap, buy it. That's my way of investing.

 

[INVSTOR]

I was suggesting Eden Hill a year ago, it's gone up about $50k since then, or 15%.
Prior to that I was suggesting Ashfield, Bassendean. It has done about the same.

 

[jaycee]

If it looks cheap, buy it. That's my way of investing.

I think I can still get you a massive block in Ravensthorpe, cheap as chips and I mean massive..in the 000's of metres..... I'll have to double check if you can still get the free firearm, but I'll try for you...

Trust me, this ischeap !





It never hurts to do some homework.....

 

[INVSTOR]

Ravensthorpe would be the last place I'd invest
There's a few more factors than that for myself:
Close to employment
Close to amenities
Distance to capital city

 

[jaycee]

So there's a bit more to your criteria than just "it if looks cheap"


it was just an ad I saw in the paper in an area I dont know much about, I htought doing a bit of research would be a good thing instead of just diving in blindly hoping ?

 

[INVSTOR]

Ravensthorpe is cheap because there's no jobs there.

The criteria is in my head from years of investing, researching and reading, if I were more organised, I would have a list. The other posts above would give a few hints.

 

[INVSTOR]

So why did you say Beechboro looked OK. Just fising?

 

[jaycee]

what else ?

I also did think you were reffering to the maddington one I brought up..but smae thing, I know not much about the potential for either suburb

 

[INVSTOR]

I don't follow Maddington, don't even know where it is. I'd guess it's not far from Canningvale. (Just had a look at my wall map - near Thornlie. I think thornlie is OK, prob never been to Maddington) But if you think it looks good, go for it. If it's below the median of Perth, a bit feral, not too feral, you know the area and prices well, go for it.