Is anyone still purchasing property? If so where?

dreaming said:
looking around the northern suburbs made some inquiries about management fees, seem to be a lot more than what i'm paying in QLD. Up there I'm paying 7 1/2% in Adelaide they seem to be around 10% is this right or are there better deals around
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Depends who you go with. I'm paying 8.8% (incl). Rates I've heard from others range from 7% to 10% (varying between incl & excl). I wouldn't be too concerned with the price as long as the service is good.

eg. $200pw rent
@ 7.7% = $800 = $15pw
@ 8.8% = $915 = $17pw
@ 9.9% = 1030 = $20pw

Then remember it's a tax deductible expense, so take 30% (or more) off these figures.

Yes, every dollar helps - but given the choice, I'd pick a good agent charging more any day over a lacklustre agent charging less.

Which Northern suburbs are you thinking of buying in?
 
Just bought my 3rd investment property, 4br house in Morwell, in the Latrobe Valley, for $165k. Needs a coat of paint and new carpet, but should rent for about $210/wk after that. Very happy with it. Couldn't afford to buy in Melbourne at the moment.
 
We think the Gold Coast corridor and Logan City areas south of Brisbane are still OK. We have 2 in Meadowbrook, 2 in Loganholme and 1 in Eden's Landing. There's still some to be found here via RE.com, but the majority of newer townhouses seems to be in the Eagleby area east of the M1 freeway south of the Logan River.
 
Hi Steve you seen to be a very helpfull person in regards to adelaide, thanks for the info about the agents. As I don't know the area, I was thinking of around Salisbury, the prices seem to be not to much so it looks like a good starting point, although it doesn't have to be there. Thinking of taking a visit down there soon to have a proper look if I can make the break from my commitments here.
 
Dreaming, yeah I think Salisbury suburbs are going to do well over the coming year or two. Still a pretty low base, and you can get some good sized blocks for future development, or some relatively low priced newer houses.
 
We added to our portfolio over the weekend by signing a contract for a 2nd IP in Melton, ...... with a twist. It is next door to our current IP. The new one is on a corner block, giving us combined land total of 1200m2 for future development (yes, already spoken to town planner).

We are very happy chappies .....:p

Martin
 
Thanks Cales

Am looking at the 4/2/2... so probs nudging the 400k barrier and may not be much in Beeneligh, may have to look at Edens Landing, Omerau, etc...?
 
*Bump* I'm still interested! Who's buying? I'm most likely building 2 houses in Perth this year, and possibly buying established in Bris.
 
i've got offers in on 3 properties atm - although we only want one.

bit of a back door job tho - hubby's been transferred back to newcastle end jan09 - our ppor rented out on lease until sept09 due to miscommunication with pm - costs around the same to rent as to buy (io), so we might as well buy and add to the portfolio at the same time.

just getting some advice off the accountant now as we still consider our ppor our ppor and want to know about "renting" off ourselves ...
 
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