Anyone else looking in Perth at the moment?
- Thread starter gooram
- Start date
I like this one
http://www.realestate.com.au/property-house-wa-perth-106605598
I really can't see anything going for the Morley one, but it does surprise me that people build mansions along that strip. Isn't the Morley one only single residential too?
The only question just about that I have with the West Perth one (sight unseen and full of ignorance) is the parking one Ausprop raised.
The onlyproblem is tht I cnat afford to buy the blody place..
well wait.. about $130k available.. - $110k depoist (if they were stupid enough tto sell for $550) - $20k purchasing costs
hey, with no buffer or savings behind me whatsover, and hopingthat a bank would crazily lend me other 80% perhaps I could stretch that far
The onlyproblem is tht I cnat afford to buy the blody place..
well wait.. about $130k available.. - $110k depoist (if they were stupid enough tto sell for $550) - $20k purchasing costs
hey, with no buffer or savings behind me whatsover, and hopingthat a bank would crazily lend me other 80% perhaps I could stretch that far
If I was after a resi property as ppor I would have purchased this one and done a reno
http://www.realestate.com.au/property-house-wa-bassendean-106705006
It was under offer within a few days after listing.
http://www.realestate.com.au/property-house-wa-bassendean-106705006
It was under offer within a few days after listing.
as investment I'd do more research and think about this one
http://www.realestate.com.au/property-house-wa-ashfield-106720149
or this one
http://www.realestate.com.au/property-house-wa-ashfield-106581400
http://www.realestate.com.au/property-house-wa-ashfield-106720149
or this one
http://www.realestate.com.au/property-house-wa-ashfield-106581400
Yeah it's a personal thing, style an dlocation of ppor.
The charcter style house is wha appealed to me and has be intriguing me latelly otherwise i'm not looking for a ppor.
Yes, definately a personal thing.
I'm looking in Bunbury at the moment, practically a suburb of Perth anyway, or will be in the next decade. I can get a decent 20 year old house, 2 k's from the city centre, renting for $325 per week, vendor wants about $370K, it's on 800 odd metres and already zoned R30, so ready for a second house out the back.
I can sit on it for a couple of years, then when I'm ready spend another $200K on a house out the back, strata, sell the front one and be left with a brand new house that hopefully has $60K + built into it, maybe more. If done right it should be close to neutrally geared, then maybe I can do that another 4 or 5 times and build my portfolio that way...
Then thing with going slightly regional, is you can do things a lot cheaper than trying to do the same thing in Ashfield / Leederville, where your initial investment is $500K +.
I can sit on it for a couple of years, then when I'm ready spend another $200K on a house out the back, strata, sell the front one and be left with a brand new house that hopefully has $60K + built into it, maybe more. If done right it should be close to neutrally geared, then maybe I can do that another 4 or 5 times and build my portfolio that way...
Then thing with going slightly regional, is you can do things a lot cheaper than trying to do the same thing in Ashfield / Leederville, where your initial investment is $500K +.
why sell?
Why sell the front one? why not have the property/ies revalued and use the equity for further purchases instead of your capital gains (after taxman picks your pocket).
Why sell the front one? why not have the property/ies revalued and use the equity for further purchases instead of your capital gains (after taxman picks your pocket).
FLurker
(I nicknamed your nickname...)
Quite possible too, will depend on expected prices and rental returns at the time. I like the idea of getting cash flow neutral properties, and older properties generally struggle to get that done, whereas if you buy new, you quite often pay for it as well.
With this technique I can get newer properties maybe yielding 6-7% based on the cost base, and should be able to replicate it a few times. The whole project probably costs $600K, if I sell the old house, my debt reduces to >$300K. Much easier to do that 5 times when you only owe $1.5M at the end, rather than $3M at the end, but each project / property will be bought or sold on it's own merits.
I've done this once with a property in Kalgoorlie and made a mint (perhaps mainly because of the boom we were going through, than any skill on my part), and now I have the knowledge of having done it once, would like to try it again.
(I nicknamed your nickname...)
Quite possible too, will depend on expected prices and rental returns at the time. I like the idea of getting cash flow neutral properties, and older properties generally struggle to get that done, whereas if you buy new, you quite often pay for it as well.
With this technique I can get newer properties maybe yielding 6-7% based on the cost base, and should be able to replicate it a few times. The whole project probably costs $600K, if I sell the old house, my debt reduces to >$300K. Much easier to do that 5 times when you only owe $1.5M at the end, rather than $3M at the end, but each project / property will be bought or sold on it's own merits.
I've done this once with a property in Kalgoorlie and made a mint (perhaps mainly because of the boom we were going through, than any skill on my part), and now I have the knowledge of having done it once, would like to try it again.
Thought I'd bring this old thread back to life!
I'm curious as to when somersofters are going to start investing in WA again. Perth seems to have been at its bottom for a good 3 or 4 years now.
When do you think Perth will start to move again?
Are we now at the turnaround seeing that rentals have increased
I'm curious as to when somersofters are going to start investing in WA again. Perth seems to have been at its bottom for a good 3 or 4 years now.
When do you think Perth will start to move again?
Are we now at the turnaround seeing that rentals have increased
The outlook is strong IMHO.
NOR is overpriced in general. Best deals are SOR. Mining + Oil and Gas going gang busters.
All that money flushing around up north has to find a place eventually. In saying that nobodies under any real pressure to buy. No matter what rubbish real estate agents spin.
My money is on a short term noticeable recovery. Another dead cat bounce on the way if you ask me.
NOR is overpriced in general. Best deals are SOR. Mining + Oil and Gas going gang busters.
All that money flushing around up north has to find a place eventually. In saying that nobodies under any real pressure to buy. No matter what rubbish real estate agents spin.
My money is on a short term noticeable recovery. Another dead cat bounce on the way if you ask me.
I'm in.
New, long term, low cash costs, rents very strong.
That's good enough for me.
New, long term, low cash costs, rents very strong.
That's good enough for me.
What do you mean by dead cat bounce?
