Where are cf+ areas for my 1st IP.
looking to spend $90-$120k with a return of say $160-$180.
will look anywhere in aus.
thankyou!
looking to spend $90-$120k with a return of say $160-$180.
will look anywhere in aus.
thankyou!
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WillG said:I remember reading somewhere that some mining towns in QLD and Perth have such properties
Rixter said:The areas will definitely be regional outback with low CG where ever theyre located.
Are those 4 Ips positive geared like the question asks (going by yields wanted) ?? I suspect not.Dazzling said:Strongly disagree with that.
Our group has purchased 4 IP's in the past 18 months, all CF+ and all within 7km's of a major capital CBD. Average consistent growth over the past 41 years has been floating between 11.2 and 12.9%.
dwlakeshores....don't accept this common held notion that the only CF+ IP's are in some outback one horse town with no CG prospects....it ain't true.
If you read Dazzling's other posts, you'll find that he says that he is talking about cashflow positive after all costs.Rixter said:Are those 4 Ips positive geared like the question asks (going by yields wanted) ?? I suspect not.
Casflow + & +ve being 2 different animals.
Where are the areas dwlakeshore asks in this current climate?
One of Dazzling's other posts (as often stated in his posts on that "other" RE forum) suggests purchasing IPs with:quiggles said:If you read Dazzling's other posts, you'll find that he says that he is talking about cashflow positive after all costs.
The key is that he invests in commercial (and reasonably large size) investments, and is not a fan of residential re. Each to their own, but I suspect that the investments he is talking about are not suitable for a newbie. Hapy to accept clarification/correction on that one.
Now, given that you are talking of your group purchasing properties, are your kind of purchases possible to one with this amount of available $$$? Specifically, can DWL be a part of something like this?looking to spend $90-$120k
I heard a GREAT story about Broken Hill (2 years ago?) - it went like this:-broken hill looks like it has some good buys - does anyone have any IP's there?or know any info on the area?
Les said:If so, would you share some figures with us to demonstrate the point? ,
Les said:G'day Daz,
dwlakeshores is asking this
Now, given that you are talking of your group purchasing properties, are your kind of purchases possible to one with this amount of available $$$? Specifically, can DWL be a part of something like this?
If so, would you share some figures with us to demonstrate the point? Thanks,
Regards,
Les said:Specifically, can DWL be a part of something like this?
Geez Mate!Dazzling said:G'day Les....specifically no....s/he cannot be involved specifically with what we are involved with. With 120K ol dwshorelakes won't be able to buy the front gate.
What s/he could buy is one of the little deals that seem to be everywhere. Ah...that's in a capital city, not timbuktoo as alluded to.
As an example for all of the me too's and me three's...here comes the spoon.
Little retail shop. Perth suburb - small shopping strip of 12 shops. Tenant on a 5 yr lease - been there for 8.5 years. 6 months into the new lease. Tenant paid all outgoings, including maintaining...i.e. small whinging factor.
Capital Aspect
Purchase price $ 115K asking price.
Vendor not willing to negotiate.
100% loan plus costs = $ 125K
Interest = 0.0725 * 125 = 9.06 K
Income Aspect
Nett rent was $ 200 p.w.
Outgoings (~ $ 3.5 K p.a.). That's strata / CR / WR / LT / ins.
Pump some equity in to satisfy Bank, borrow the lot and some little box is producing 1.4K p.a. on a 108% lend. ( $ 27 p.w.)
Not something we would touch, for the following reasons
We don't like strata titles
Cannot control the dirt...and has no dirt.
I think more scrutiny and more searching, and far less spoon feeding required. All but one of our deals have never been on the internet, so all of the chaps on the other side of the paddock may struggle. If it's not on the internet, doesn't mean it doesn't exist.
And Monopoly...yes, you should be baffled...I'm not out to impress anyone. I just can't stand it when people say investors need to go out to whoop whoop to get good deals and it's impossible to find deals in the city....it is impossible if you want to be spoon fed on the internet, but if you sift through the awesome deals out there....big things are possible.
Monopoly, come over to Perth with your hubby....bring your hard hat and steel caps and I'll walk you through the "so called properties" with the gobsmacking signed and executed Leases....not your average 3x1 quaint little house.
Enough...if you don't believe me...not a problem.
dwlakeshores said:broke hill looks like it has some good buys - does anyone have any IP's there?or know any info on the area?
Les said:I heard a GREAT story about Broken Hill (2 years ago?) - it went like this:-
A little ol' lady went and bought a property in BH using the FHOG - AND GOT CHANGE !!! Can't remember the actual figures, but she ended up paying NOTHING to buy a property back then. Made the papers in Sydney when it happened. Around that same time, I'd heard of people paying $9k for a house, and subsequently renting it at 25% or more yields.
Is it like that today? Hell, I don't know.....
bigfella966 said:Geez Mate!
So you're the next IP Guru Huh!, just wondering, how can this "small time investor" get a signed copy of your book, I'd love to read one from ya
oh yeh!, and I'll take you up on that walk through the "so called properties" if Mono can't make it, just tell me, how much would I have to pay for that "front gate" and what do I need to open it with, a key or a spoon?
BF