One Bedroom Apartments

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From: Cheryl T


Hi to all

I am just starting down the IP road and am a tad nervous, however, I recognise I need to do something if I'm to be financially ok in the future. So I've done a lot of reading and attended many seminars and eventually did a weekend course which was extremely enlightening. I am currently renting and have decided the only way I'm ever going to put my own roof over my head is to begin with an investment property and then work towards buying my own. So the deal that has been presented to me to get started is a one bedroom apartment in Windsor (Melbourne). The thinking behind this is that apparently statistics show that there are and will be a lot of single people of varying ages wanting to live in areas close to restaurants, shops, beach etc.

My concern is the viability of a ONE bedroom apartment as opposed to two at least. Would be keen to hear your thoughts.

cheers
Mustang
 
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Reply: 1
From: Duncan M


>eventually did a weekend
>course which was extremely
>enlightening.

>So the deal
>that has been presented to me
>to get started is a one
>bedroom apartment in Windsor
>(Melbourne).

Hi Cheryl, was the deal presented to you by the same people that ran your weekend seminar?

Regards,

Duncan.
 
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Reply: 1.1
From: Cheryl T


Yes it was. They refer you to independent people who have extensive experience in the area of property, these people are actually building their own portfolios and they really look at your situation help you come up with a strategy that suits your financial situation and one that will assist you in your future plans.
 
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Reply: 1.1.1
From: Michael G


Hi,

Best to ask for written documentation on how they formulated their prices, ie what units did they use for comparison.

Michael G.
 
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A

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Reply: 1.1.2
From: Anonymous


On 12/2/01 10:01:00 AM, Cheryl Thorogood wrote:
>Yes it was. They refer you to
>independent people who have
>extensive experience in the
>area of property, these people
>are actually building their
>own portfolios and they really
>look at your situation help
>you come up with a strategy
>that suits your financial
>situation and one that will
>assist you in your future
>plans.

Cheryl, it sounds awfully like you're about to get ripped off.. Can you tell us who ran the seminar and the financial details of the deal that's been presented to you?
 
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Reply: 2
From: Michael Yardney


Cheryl
A good sized one bedroom apartment in Windsor could make a good investment.
It is an excellent letting area and has a good history of strong capital growth and has strong tenant demand.
Having said that I share some of the same concerns as some of the others who have responded.
You make your profit when you buy your property.If you overpay because the people marketing the project are not truly independent and not selling on the open market at market prices , you will be behind right from the start and it may take years to catch up.
Michael Yardney
Metropole Properties
 
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Reply: 2.1
From: Anonymous


I am amazed at how many wonderful people want to educate everyone on how to make money in property.

Then in the next breath just happen to have exactly what you now require.

Are they not just changing all the laws in QLD because of these practices at ripping of vulnerable people that believe anything they are told. Mind you by so called experts.
(Sales people making bread and butter $ from sales and never to have investments themselves)

My advice.

Do the legwork yourself. Post here for info and don't get ripped off.

Would you trust the foxes looking after the chickens.
 
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Reply: 2.1.1
From: George M


That is not exactly true.
not all people that run seminars to educate people, are out there just to rip people off.
i have always enjoyed property and enjoy helping people make a rational and informed choice, when taking a step towards their goal and "doing something", you are correct there is a lot of sharks out there but don't throw everyone into the same bucket.
because without some form of knowledge you are putting yourself at risk and i do agree that this forum is a good, there may be sharks lurking too.

the reality is that not all people don't have core values, or pride in what they do for other people and themselves. I do and i make certain that i surround myself with the same sorts of people.

"the purpose of life is to discover your gift, The meaning of life is to give your gift away"

George Mariotti
 
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