docklands rents

[Bill.L]

Hi all,

Lozza,

I've had enough of this blatant advertising of yours.

Do you work for the company that SELLS apartments in the Watergate complex?? (ie the Tetragroup)???

In your previous reply to my question it would appear you misled the forum. Your apartment is not 12 sqm larger than the other one.
There seems to be 2 types of 1 bedroom apartments for sale in the complex..... those being 56.3 sqm or those being 63.9 sqm.

This link shows the floorplan size in the complex

http://www.tetragroup.com.au/watergate/

Perhaps the apartment for sale below for only $320k is a better choice for you as it also has car parking.

http://www.realestate.com.au/cgi-bi...&t=res&ty=&snf=ras&ag=&cu=fn-rea&fmt=&header=

You expect rents to increase 33% in 2 years. Do you have any evidence to support this?? I would like the rents on my properties to increase by that much, but would only expect them to go up by inflation, and they are in areas with a far lower vacancy rate than Docklands!!

Another interesting aspect is how the tetra group is selling the 1 bedder apartments from between $347k-$400k, yet they are advertised on realestate.com for $320k (the above link) and yours is worth $420k.
There is something wrong with someones numbers here somewhere, I wonder who's??

bye

 

[Bill.L]

Hi all,

Look, they are getting cheaper by the minute! Here's one for only $310k!!!

http://www.realestate.com.au/cgi-bi...&t=res&ty=&snf=ras&ag=&cu=fn-rea&fmt=&header=

Advertised price that is. I'd expect to get it a lot cheaper than that IF I wanted to buy (which I don't).

bye

 

[yadreamin]

lozza
Its time to come clean again and admit that you work for the tetra group.
Earlier posts/threads may have been deleted but some of us have a good memory.
You may have bought units under val but when your working for the developer dont go sprukin that there are bargains to be had for all and how you bought units undervalued. When your boss still has units to sell dont come on here saying how great the area is go to the forum of "for sale".This forum is made of honest reliable opinions and that many are willing to share .

IT IS NOT FOR COMISSION BASED SALES.

I would imagine that you would have access to some good info in the job you have/had at tetra .Thats great if you want to share some of that info as you seem to like to get feed back on certain areas especially the docklands or are you just trying to talk it up again and get a market feel for your boss.
cheers lozza
yadreamin

 

[alexlee]

Lozza, this forum is for discussing property investment and experiences. If you feel strongly about an investment strategy, you're welcome to post it on the proviso that other members can comment on it.

You've stated that you have bought Docklands units cheap, casually dismissed other opinions with half-truths and unsubstantiated statements (how did you get half stamp duty on your unit? What are you basing your rental increase predictions on?) while conveniently ignoring issues raised by others (how do you explain comparable advertised properties that are $100k below what you say your one was valued at)?

Most importantly, you WORK for a company that sells units in the VERY BUILDING you're praising (while dismissing all the other buildings in the Docklands, I've noticed).

If you bought your unit cheap, and you say your unit is worth $420k, why not go and refinance your place and buy some of those ones advertised for $310k? $100k instant equity! Why tell us about it? If the market (and that's just the advertised price, which is usually higher than the actually settlement price) is 30% below the valuation (and with $460pw rent for a $310k unit you're CF +ve at 100% LVR!), you could just keep buying those 'cheap' units'. You'll have more units than your boss in no time!
Alex

 

[skater]

Anyone with at least 10 properties would most likely have a proeprty finance background, and a heap of experience in the industry...But there are acceptions to the rule i suppose.

Geez, lozza, I really can't make up my mind about you. First you try to flog appartments in Docklands, then you rave about how great the rents are there. Now you come up with a statement like this.

Do you just believe everything you are told? I know many investors that have in excess of 10 properties & not one of them have a property finance background. I also know many people with a property finance background that have few (if any) properties. If you want to make blanket statements back them up with facts - and I don't mean just data that you have been fed by your boss.

You also seem to take issue with people who don't agree with you in regards to Docklands. Well here's a newsflash for you. There is no way in the world that I would buy into Docklands unless it was a firesale & I got it for the price I would be willing to pay. Way too much risk for me.

On the otherhand, I have many single houses in outer lying suburbs of Sydney. Much like the ones you have been rubbishing Alexlee for being his IP of choice. I have had great capital growth, get good rents (over 6% WITHOUT a guarantee, so REAL ongoing yeild) AND I don't have to worry about expensive Body Corporates. It's all good.

As a property investing forum, you will be surprised to find that there are many here that don't follow your enthusiasm for Docklands. Get over it! If you want to contribute, that's fine, we will all welcome it. BUT please, don't try to preach to us about how Docklands is the only way to go. IT ISN'T!

 

[lll]

gday guys,

this thread is an open discussion, where all of us are just sharing opinions. and i was quite enjoying this thread discussion up until now, untill people have, "yet again", started getting defensive and getting offended and bagging me over absolutely nothing. I have already stated in previous threads that i work in the industry, and there is nothing for me to hide. So if you care to read my prvious posts, i have already declared this, SO WHATS THJE PROBLEM?????

And i have already stated that i work with others who are experts. No one is being forced into doing anything. I havent advertised or tried to flog apartments in this forum, all i have been doing is stating my opinions and sharing information with each other in this thread, which is exactly what everyone else is doing...

If this is the way people are goiong to behave in this forum, i wont share my comments again as i am not interested in childish arguements. all i am interested in doing is sharing information on properties, and if people are going to get offended over silly things like this, then i am not going to share my opinions with anyone else.

I have nothing to hide, believe me.....

cheers

lozza

 

[Kennethkohsg]

gday guys,

I have already stated in previous threads that i work in the industry, and there is nothing for me to hide. So if you care to read my prvious posts, i have already declared this, SO WHATS THJE PROBLEM?????

And i have already stated that i work with others who are experts. No one is being forced into doing anything. I havent advertised or tried to flog apartments in this forum, all i have been doing is stating my opinions and sharing information with each other in this thread, which is exactly what everyone else is doing...


lozza

***********************************************
Dear Lozza,

Who are your "experts"? Care to openly share them with us, please.

Who are you working for, exactly and what is your present fulltime occupation if I may ask, please?

Thank you

regards,
Kenneth KOH

 

[lll]

Geez, lozza, I really can't make up my mind about you. First you try to flog appartments in Docklands, then you rave about how great the rents are there. Now you come up with a statement like this.

Do you just believe everything you are told? I know many investors that have in excess of 10 properties & not one of them have a property finance background. I also know many people with a property finance background that have few (if any) properties. If you want to make blanket statements back them up with facts - and I don't mean just data that you have been fed by your boss.

You also seem to take issue with people who don't agree with you in regards to Docklands. Well here's a newsflash for you. There is no way in the world that I would buy into Docklands unless it was a firesale & I got it for the price I would be willing to pay. Way too much risk for me.

On the otherhand, I have many single houses in outer lying suburbs of Sydney. Much like the ones you have been rubbishing Alexlee for being his IP of choice. I have had great capital growth, get good rents (over 6% WITHOUT a guarantee, so REAL ongoing yeild) AND I don't have to worry about expensive Body Corporates. It's all good.

As a property investing forum, you will be surprised to find that there are many here that don't follow your enthusiasm for Docklands. Get over it! If you want to contribute, that's fine, we will all welcome it. BUT please, don't try to preach to us about how Docklands is the only way to go. IT ISN'T!

Skater,

I would encourage you to sit down and ready everything i have said in this thread from the very start. I have already said about 10 times in this thread that docklands isnt the only way to go. But this is a thread on docklands isnt it? And all i am trying to do is share my opinions and knowledge in the area.

And i am not trying to sell anyone anything, i couldnt care what people buy to be honest... I am interested in having a discussion on property issues, thats all..

It seems that what many of you guys are only interested in doing on this thread is having a discussion with others, and then, go in for the attack when they say something that you dont like, instead of realising that its just peoples opinions. I dont have a crystal ball, and i dont know what suburbs are going to go up in terms of capital growth. i admit that. all i am trying to do is share my knowledge, and if i keep getting bagged for it, then i am not interested in sharing my knowledge or opinions with anyone.

i honestly have not come across a more bitchy forum than this one ! thats why i hardly post on it any more !

cheers

lozza

 

[Bandita]

Hi Lozza,

People on this forum are getting upset and questioning you so strongly because you are actively supporting purchasing on the Docklands based on the great capital growth and high rental yields, low vacancy rates you have had - but when you actually look into it - it's completely not true!

You are saying your 1-bedroom has increased in value from $370 to $420K. Any search on all the 1-bedrooms across Docklands reveals ASKING prices in the $300-$350k range.

Your boasting on the high rental yields - which are in fact a 2-year guarantee from the developer - meaning not market rents (which any search also clearly reveals - $300-$350/week is market rent), but merely incentives to get investors to buy and inflate the price of the properties.

So your recommending people invest in places with inflated rents causing inflated property prices - that's ridiculous and incredibly risky!

You've acknowledged your rental guarantees are inflated and not market price, but are extremely confident you will be receiving $400/week for a one bedroom apartment - that's a minimum of 15%-33% increase in rents in less than two years - again ridiculous and incredibly risky to even possibly be confident of that!

Your "experts" are obviously misinforming you if you don't understand this, but as people have outlined this time and again, it seems you do understand, but continue to defend these experts, which are infact your employers meaning you have a vested interest in others investing in the Docklands and hence the backlash you are receiving.

This forum encourages and supports all views on all aspects of property, but not people giving investment advice that is knowingly untrue and misleading, especially only to benefit themselves or their employer.

Cheers,
Jen

 

[lll]

i honestly have not come across a more bitchy forum than this one ! thats why i hardly post on it any more !

cheers

lozza

nothing more needs to be said !

 

[doreilly]

Lozza,

You need to learn to take some of the criticism being levelled at you.

Reading the entire thread, all of it was warranted.

I lived in Docklands for a year, and have been through nearly all buildings in Docklands, Watergate was nowhere near the quality, size and finish of some other developments.

And advertised rents are nowhere near what people actually pay, ask any letting agent for Docklands.

 

[lll]

Lozza,

You need to learn to take some of the criticism being levelled at you.

Reading the entire thread, all of it was warranted.

I lived in Docklands for a year, and have been through nearly all buildings in Docklands, Watergate was nowhere near the quality, size and finish of some other developments.

And advertised rents are nowhere near what people actually pay, ask any letting agent for Docklands.

Gday Doreilly,

Its funny that you mention that there is a difference between what people ask for advertised rents, and what they actually end up paying. Well, my apartment was advertised for $330 p/w, and thats exactly what the tenant pays for your information...$330 p /w

Also, i was just curious Doreilly, what are these so called apartments that are better quality in Docklands than Watergate in your opinion? But remember to keep in mind their price per sq/m too please...

And no i don't need to put up with criticism Doreilly. I don't personally criticise anybody else on this forum, nor am i rude to them, so why should i put up with it?

Cheers

Lozza

 

[myla]

hello lozza,

i thought you got rental guarantee, so why would you be advertising for rental?

just provide the real picture of whats happening here please Lozza.

thankyou
myla

 

[lll]

hello lozza,

i thought you got rental guarantee, so why would you be advertising for rental?

just provide the real picture of whats happening here please Lozza.

thankyou
myla

Myla, if you actually read all my posts, you would realise that i own 2 apartments, one is being rented out at 6% net, and the other one is $330 pw

cheers

lozza

 

[Bill.L]

Hi all,

Lozza,

You have managed to produce 5 posts in this thread without answering the pertinent questions asked of you.

Do you work for the Tetra Group???

bye

 

[Shonnie]

Pity this turned into such an angry discussion-

Even though this might be a bit late..

I lived in the Docky's for a year (best year ever) - and I can understand Lozza's point- that place is going to be worth a shitload of money once it's fully developed- its 2 seconds from the city, water front, stunning apartments, art everywhere, trees (YES IN THE CITY)- and the place is seriously beautiful... If we could afford to buy our first PPOR in the Docklands we would, unfortunately its about $100k out of our price range..

I luuuurve the Docklands- rents are crazy there too- can't get much for under $275- even just a one bedder.. The place we were kind of renting (we weren't paying the rent, Virgin Mobile was hehe) was going for $600 a week fully furnished- and these apartments are great- gym, pool... restaurants you name it. This was on Lorimer Street side mind you..

With the generation Yer's (me!) wanting that Paris Hilton lifestyle, Those apartments will be in big demand in a few years time.. thats what I reckon anyways..

The main downside was the wind- there are amazingly strong wind tunnels through Lorimer Street and New Quay sides- sometimes you nearly get blown away! But apart from that I loved it.. every little bit of it..

Lozza- do you want to sell me one for $210,000 .. I'll love u forever I promise hahaha..

 

[geoffw]

a fully furnished 1 bedder with a carpark and and its rented out for 6% net for the next 2 years - $22,500 p/a

Lozza

I'm interested in one bedder fully furnished, as I have a number in the Canberra region.

At 6%, that is lower than what I have been used to. But yields in Canberra have been good.

Fully furnished should be giving 50% above non furnished, at minimum, I would have expected. But that comes with a higher risk. I have experienced a higher turnover- 6-12 months tenancies- but the vacancy rate has been low.

How is your yield as compared to non furnished? How is the turnover?

 

[lll]

Pity this turned into such an angry discussion-

Even though this might be a bit late..

I lived in the Docky's for a year (best year ever) - and I can understand Lozza's point- that place is going to be worth a shitload of money once it's fully developed- its 2 seconds from the city, water front, stunning apartments, art everywhere, trees (YES IN THE CITY)- and the place is seriously beautiful... If we could afford to buy our first PPOR in the Docklands we would, unfortunately its about $100k out of our price range..

I luuuurve the Docklands- rents are crazy there too- can't get much for under $275- even just a one bedder.. The place we were kind of renting (we weren't paying the rent, Virgin Mobile was hehe) was going for $600 a week fully furnished- and these apartments are great- gym, pool... restaurants you name it. This was on Lorimer Street side mind you..

With the generation Yer's (me!) wanting that Paris Hilton lifestyle, Those apartments will be in big demand in a few years time.. thats what I reckon anyways..

The main downside was the wind- there are amazingly strong wind tunnels through Lorimer Street and New Quay sides- sometimes you nearly get blown away! But apart from that I loved it.. every little bit of it..

Lozza- do you want to sell me one for $210,000 .. I'll love u forever I promise hahaha..

Yes Shonnie, thanks for your kind comments.

Its becoming quite evident as time goes on who the troublemakers on this forum are with nothing better to do but to presume things and wreck good threads! It makes me laugh actually. It's quite sad though!

Just be careful what you say, you might get accused of talking up the Docklands because you have a hidden adgenda or want to sell an apartment to a gullable person on this thread who cant say no! lol !

and yes i agree, the wind is shocking down there in winter, but you cant have it all i suppose!

Cheers

Lozza

 

[lll]

Lozza

I'm interested in one bedder fully furnished, as I have a number in the Canberra region.

At 6%, that is lower than what I have been used to. But yields in Canberra have been good.

Fully furnished should be giving 50% above non furnished, at minimum, I would have expected. But that comes with a higher risk. I have experienced a higher turnover- 6-12 months tenancies- but the vacancy rate has been low.

How is your yield as compared to non furnished? How is the turnover?

Gday Geoff

Glad to answer your question mate,

Of the 2 apartments i have in Docklands, one is non furnished - cost me $380k, and getting $330 p/w rent ( $17160.00 annual ) So thats a gross return of about 4.5% Which is just a standard return at the moment i admit, but not bad for Melbourne...

The other apartment i own is furnished and it cost me $370k and is being let out by the developer, so they provided the furniture and give me a rental guarenee of 6% net for 2 years. So thats annual income of about $22,200.00, which i think is a reasonable deal.

I have done a bit of research and there is high demand for fully furnished apartments in Docklands, so i am seriously thinking about changing the first apartment to a fully furnished one too shortly down the track. I have been told that for a fully furnished 1 bedder in docklands, you should expect to get between $450 and $500 p/w rent. And you should be able to secure 3 - 6 month leases too.

By the way Geoff, if you have time, can you clean up this thread a bit and get rid of all the ******** personal comments and attacks please. It has totally wrecked what was once a good thread...

cheers mate

lozza

So thats

 

[Bandita]

Hi all,

Maybe we can change the direction of this thread a bit, hopefully not too late

Was wondering from all the people who have lived/invested in the Docklands - which buildings do you believe are the best quality, fixtures, fittings, layout, position, location, most like to have the most owner occupiers, etc.

Cheers,
Jen