Anyone with these Property Investment Companies?
- Thread starter lenovo
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Why would a good property need a 10 years rental guarantee?. Regardless of the reason someone/somhow has to pay for that guarantee. Guess who?. At the end, the guarantee is as good as the under writter of it.
Cheers,
James.
I agree with James.
Anyone who is offering a rental guarantee for such a period of time has to being do so because they expect the chips to fall in their favour.
Either the guarantee is worthless because it is $2 shelf company or the purchase price was raised intially and they are covering the rent out of the over pricing.
Altenatively they now that rents will increase over the guarantee period and expect to be able to make money over and above this.
I can tell you as someone who has over 15 years experience in property management in Brisbane never before have we seen such demand for rental properties as we are expericieng at the moment. For every property that is vacant, half decent and priced correctly I would expect to receive 3/4 applications.
Many tenants take a property without even inspecting the property as they are concerned they will miss out. this week i rented a property in Bridgeman Downs for $950 / week to a lady who flew in from NZ in the morning, inspected and then flew out in the afternoon.
As yourself if it is too good to be true then it probably is.
Anyone who is offering a rental guarantee for such a period of time has to being do so because they expect the chips to fall in their favour.
Either the guarantee is worthless because it is $2 shelf company or the purchase price was raised intially and they are covering the rent out of the over pricing.
Altenatively they now that rents will increase over the guarantee period and expect to be able to make money over and above this.
I can tell you as someone who has over 15 years experience in property management in Brisbane never before have we seen such demand for rental properties as we are expericieng at the moment. For every property that is vacant, half decent and priced correctly I would expect to receive 3/4 applications.
Many tenants take a property without even inspecting the property as they are concerned they will miss out. this week i rented a property in Bridgeman Downs for $950 / week to a lady who flew in from NZ in the morning, inspected and then flew out in the afternoon.
As yourself if it is too good to be true then it probably is.
Ozinvest have a lot of properties for rent around Warner/Bray Park in brissy, good area, I have 1 there and am looking to build another shortly.
I find they are basic 4 bedders, face a lot of competition - lot of these standard 3 bedders (although i am planning on renting one shortly) the price for them seems to be inflated, considering what else you can buy for the same price.
Its not hard to organise your own finance, property management etc.
I find they are basic 4 bedders, face a lot of competition - lot of these standard 3 bedders (although i am planning on renting one shortly) the price for them seems to be inflated, considering what else you can buy for the same price.
Its not hard to organise your own finance, property management etc.
I think they're a great company.
Their house + land packages are a great buy..well maybe not anymore.
When I built my IP in Kuraby, Ozinvest bought up loads of land in the small estate and did house + land packages. It was only approx $30k more than my property to buy but then I did all the worl myself. Guess what? anyone that bought with them would have seen a min $100k growth within 1 yr. am happy with the facade of their houses...there are many Ozinvets houses on my st but they all look diff from the front and all look nice.
They also set high rent before the brisbane rental boom on my street so I was able to rent out my IP for way above average rent. It has taken 10 mths for everyone else to catch up.
I wanted to buy a H+L from them in Fitzgibbon but they sold out. Also, Marsde, Browns Plains...they did a lot of brand new H+L in those areas for the past few years...haven't seen anything lately probably coz the prices would be now over $400k
They're very clever in sourcing cheap land.
Letiha, I once said to hubby that I should just follow them and build wherever they build.
The 10 yr guarantee is just something they offer to gain your business. It doesn't mean that rent won't rise with inflation...it's basically the same as any property management company but they just offer that lil extra. Doubt you need it but 10 yrs guarantee is still better than no guarantee.
However, I am pretty sure they only rent out houses they build themselves.
Their house + land packages are a great buy..well maybe not anymore.
When I built my IP in Kuraby, Ozinvest bought up loads of land in the small estate and did house + land packages. It was only approx $30k more than my property to buy but then I did all the worl myself. Guess what? anyone that bought with them would have seen a min $100k growth within 1 yr. am happy with the facade of their houses...there are many Ozinvets houses on my st but they all look diff from the front and all look nice.
They also set high rent before the brisbane rental boom on my street so I was able to rent out my IP for way above average rent. It has taken 10 mths for everyone else to catch up.
I wanted to buy a H+L from them in Fitzgibbon but they sold out. Also, Marsde, Browns Plains...they did a lot of brand new H+L in those areas for the past few years...haven't seen anything lately probably coz the prices would be now over $400k
They're very clever in sourcing cheap land.
Letiha, I once said to hubby that I should just follow them and build wherever they build.
The 10 yr guarantee is just something they offer to gain your business. It doesn't mean that rent won't rise with inflation...it's basically the same as any property management company but they just offer that lil extra. Doubt you need it but 10 yrs guarantee is still better than no guarantee.
However, I am pretty sure they only rent out houses they build themselves.
I have to agree with Agent007 ... I am very sceptical about properties with rental guarantees. To me and this is my view only, if a property is good you wont need a guarantee cause it will rent well and appreciate well.
Of course finding the right property (Location, location, location) is another story
Kaz
Of course finding the right property (Location, location, location) is another story
Kaz
Ive just bought a property from Ozinvest(realty).. not the investment company side but there real estate side.. there linked.. but it think the invetsment side deal with only H&L packages etc...
Ozinvest would have built t as a H&L for the client.. and was being managed by them..
They bought for well under 1/2 the price I just payed for it..
So far the ozinvest side of thinsg seem to be doing things in what I consider the right areas...
Im about to get more infor from them.. as I';d like to be buying at 1/2 the price then being able to sell to some one else in a few yr at more than double...
but with all these companies do your own DD.. and compare what else is around.. for the same type of money...
Also I think there rent guarentee is a good thing esp for those who feel they need the secuirty.. of course there a costto that service.. which may erode your normal 2-4 week vacancy...
Ozinvest would have built t as a H&L for the client.. and was being managed by them..
They bought for well under 1/2 the price I just payed for it..
So far the ozinvest side of thinsg seem to be doing things in what I consider the right areas...
Im about to get more infor from them.. as I';d like to be buying at 1/2 the price then being able to sell to some one else in a few yr at more than double...
but with all these companies do your own DD.. and compare what else is around.. for the same type of money...
Also I think there rent guarentee is a good thing esp for those who feel they need the secuirty.. of course there a costto that service.. which may erode your normal 2-4 week vacancy...
Uh, this is in Perth, right? Most properties have at least doubled in the last couple of years. I have a pretty dodgy old house in Cooloongup that has doubled since 04. Can't imagine that sort of growth rate is sustainable over the long term.
Alex
I just want to point out again that OzInvest only gives 10 yr rental guarantee when you buy the H+L package from then and use them to rent it out.
I spoke to them about renting my Ip out and they won't give me 10 yr guarantee.
Kelvin - that's right, like i said Ozinvest are very cleaver at sourcing cheap land. Their packages have always been well priced prior to the current boom so say prior to March this year. I don't think you got ripped off...you are just paying market price. There's still room for growth in Brisbane.
But Ozinvest sales agents are shocking. I wanted to view osme properties but they took ages to get back to me and I never got to view the properties. Like they would ask my budget which is a question I hate since my budget depends on the property and the location and the finishing and then they give you addresses all over Brisbane and ask you to do drive bys which is just a complete waste of my time because I can't see anything from the outside and i'd have to go back there again. If only they were more pro-active.
But they never did ask me to pay for 50% of the fence because they sold the house H+L and neither did the new owners.
They bought up like 20% of Kuraby park estate last year..land between $150k to $180k. Now land is worth $260k to $300k and there isn't any around here. I can't believe i only bought one.
Same story at Fitzgibbon.
I spoke to them about renting my Ip out and they won't give me 10 yr guarantee.
Kelvin - that's right, like i said Ozinvest are very cleaver at sourcing cheap land. Their packages have always been well priced prior to the current boom so say prior to March this year. I don't think you got ripped off...you are just paying market price. There's still room for growth in Brisbane.
But Ozinvest sales agents are shocking. I wanted to view osme properties but they took ages to get back to me and I never got to view the properties. Like they would ask my budget which is a question I hate since my budget depends on the property and the location and the finishing and then they give you addresses all over Brisbane and ask you to do drive bys which is just a complete waste of my time because I can't see anything from the outside and i'd have to go back there again. If only they were more pro-active.
But they never did ask me to pay for 50% of the fence because they sold the house H+L and neither did the new owners.
They bought up like 20% of Kuraby park estate last year..land between $150k to $180k. Now land is worth $260k to $300k and there isn't any around here. I can't believe i only bought one.
Same story at Fitzgibbon.
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