Hi Anne

I am looking to buy a properties both for investment and to live in Zone 1 in the East and South east suburbs
The reasons I am looking to buy and zeroed in Carnegie are and some of the due diligence I have done are:
1) Good suburb to buy both as investment property (NOT student accommodation) and self occupied
2) Good rental demand as walking to schools and Monash university Caulfied campus
3) Consistent capital growth of an average more than 10% in the last ten years (ref domain.com.au)
4) Surrounded by premium suburbs like Caulfield, Malvern East, Glen Iris, Malvern, McKinnon, which has grown in Value
5) Only 11Km from the City .Easy Access to the city via princess highway, St kilda road. Walking to train station, Tram at door step and Bus to City or to Chadstone. Also Short drive to the st kilda beach. Access to Monash Freeway from Warrigal road or Burke Road
6) Walking to vibrant koornang shopping district with cafes and eating places. 5 min drive to Chadstone shopping mall. Walking to pharmacies, Safeway
7) Have swimming pools, library, parks
7) Suggested by various Propperty Magazines and real estate professional (known personally to me). Also suggested by one of the buyers agent in one their seminar

Above are the reasons I am looking to buy here.

Cheers

From ABC NewsRadio

Qld housing and construction 'in trouble' - ABC News (Australian Broadcasting Corporation)

Until now we were told that the baby boomers were retiring and heading for warmer climates but it appears that it isn't so.

http://news.domain.com.au/domain/rea...830-13y5n.htmll

Most people dream of paying off their mortgage but not me.
As soon as I have enough equity I pull it out and use it a deposit for my next property.

The following article is for all of you people who are not like me and who would like to pay off your mortgage sooner rather than later. There are some good hints so read and enjoy...:)

http://news.domain.com.au/domain/blo...830-142vk.html

Can I challenge a 20 per cent rise?
IMO its not unreasonale to put up the rent by 20% in 1 go.
Often the determining factor is what other people are paying for comparable properties in the area.

More here
http://news.domain.com.au/domain/hom...827-13vhr.html

Hi Everyone,

I've just settled on a property a few months ago and renovated it so i know there's some equity in there which i want to use and move forward to purchasing another one. I was just wondering whether it is worthwhile getting a valuer to determine how much it's now worth or should i not bother since the bank is going to get their own valuer in anyway?

It's not a huge cost to get it valued but I was thinking I could just get a few realestate agents to do free appraisals to get an indication on how much it's worth and present something in between to get finance.

Can anyone give me any advice on this?

Regards
Viet

Hi Guys

I am thinking of buy an old home to demolish and build 3 townhouses sell 1 and keep 2. Where should I start and what process steps should I take. Thanks

The Saddle

I have been asked by a lot of people lately what tenants are doing, who are they...etc.

These are my thoughts:

SOCIAL TRENDS IN AUSTRALIA
Australians are becoming more prosperous, we are living longer and our family units are getting smaller. We are more ethnically diverse.

It seems the traditional Australian family made up of mum, dad and the kids is on the wane, with fewer than 40 per cent of families now fitting that description.

Other big changes include an increase in lone parent families, a rise in the number of couples without dependent children and a jump in the number of households that consist of just one person.


In addition the number of people per household continues to decline.

Between the last two censuses the average number of residents per household fell from 2.61 to 2.57 persons per household, which translates to around 135,000 extra households.


While the number of people per house is falling, the size and quality of houses is increasing.


Nine out of ten two parent families with young children live in a separate house with an average of four bedrooms. The average number of children in those households is 2.16.


Traditional families are demanding more living room than ever before.

The average floor area of new houses has increased by around 50 per cent, from 162.2 square metres in 1984-85 to 247.4 square metres in 2005-06.



TENANT TRENDS
Tenants, like the general population come from many walks of life, different countries, different cultures, different professions and they approach tenancy with vastly different attitudes to traditional tenants of years gone by.

Renting is no longer a dirty word.

Similar to what’s been happening in European countries for many years more and more people are choosing to rent long term.

With housing becoming more and more unaffordable people are consciously deciding to rent rather than buy and invest their money elsewhere.

The real costs of buying a house now in most cases far exceed the price to rent the exact same house-without all the hassles of ownership.

More Transient

With many people now employed on a contract basis renting rather than buying for the period of their contract makes sound economic sense.

These ‘contractors’ generally seek properties of a high standard close to their place of work.

Rent a Lifestyle

Many tenants, particularly singles without the commitments of children, are now seeking what is known as lifestyle properties.

Generally in expensive inner city areas, with a modern look and feel and close to their place of work and amenities such as cafes, restaurants, bars and shops.

Additionally, families that have been transferred through employment don’t want to lower their lifestyles either. Most seek the same type of dwelling they are leaving behind.

Preferably of good quality, good size with modern fittings and ideally located near good schools, shopping facilities and entertainment.

Quality

More tenants are looking for better quality properties than ever before.

With the huge increase in the number of new properties in South East Queensland many tenants are choosing to rent a new or near new property at a higher rent than a dated run down ‘shack’ with old and tired features.

These new estates and apartment blocks have lifted the bar in terms of rental properties and landlords with older properties looking to attract these quality tenants should consider improving their offering.

Tenants can also be Investors

Buying close to lifestyle factors is not always financially possible, particularly for singles, but renting in those areas is.

Today many people rent where they prefer to live and then purchase an investment property in more affordable areas.

Household Amalgamation

An emerging trend is the amalgamation of ‘household’ combinations. For example two parties looking to rent a larger house for $500 than two smaller properties at $340 each. It makes financial sense and there are other lifestyle/family benefits as well.



IMPLICATIONS FOR LANDLORDS
One thing is clear, as population increases, as life expectancy increases, as the growth in single person households increases and as the number of persons per dwelling decreases the demand for tenancies will grow.

Is your property pitched at your ideal market?

Renting a property is no longer the domain of students and the not so well off.

The ‘typical’ tenant concept simply doesn't exist anymore.


It’s now become a lifestyle/work choice.

Well educated high income professionals be they singles or with a family have joined the rental market in big numbers.

They are seeking well located properties with modern features and are prepared to pay for them.

Landlords need to reassess the type of tenant they hope to attract to their property and make the necessary changes.

Landlords can no longer expect to attract higher rents and better tenants with dated properties and a lack of inclusions such as air conditioning, insulation and dishwashers.

The transient nature of tenants does not mean lower expectations.

Many tenants want a ‘home’ not just a place to live.

Tenants want flexibility in their leases to match work commitments.

More Property Developer stock has raised the bar in terms of quality and location at competitive prices.


Tenants now have a greater choice and Landlords need to keep themselves up to date with what’s happening in their neighbourhood.

Leaving maintenance unattended and the property in general disrepair will force tenants to look elsewhere.

Landlords need to consider what they can do to their property to make it more desirable to a broader range of prospective tenants.

Landlords with larger properties need to assess what they can do to attract the ‘family’ or ‘amalgamated’ household market. On the other hand, landlords with units closer to the city should consider updating the interiors with modern fittings and fixtures and could consider installing washers/dryers and fridges.


IMPLICATIONS FOR PROPERTY MANAGERS
Property managers more than ever need to be forward thinking in their approach. They need to be able to add value to the transaction and provide landlords with up to date information about what is happening in the market as well as be able to advise their owners about what they can do to their properties to make their properties more appealing to a broader market.

Regular and timely communication as always is still paramount to the process.

Property managers need to be accessible to both landlords and tenants at times that suit. Out of hours and 7 day availability ensures that issues are dealt with immediately and properties are rented without delay.

Being proactive and responsive to the needs of both landlords and tenants will ensure low vacancies and happy tenants.

Access to landlord information 24/7 via the internet keeps owners informed about the financial aspects of their property while tenants need to be able to apply for properties and pay their rent online.

And finally property managers need to be accountable to both owners and tenants. Property managers take on huge responsibilities for both their owners and their tenants. Owners entrust them with a large part of their financial future whereas for the tenant the ‘tenancy’ is their home and must be treated with respect.

Lu

Here's a tip for those of you who own or are about to buy an investment property. Ensure that when you take possession, you get photocopies of all keys (and number of each recorded) so that there are no discrepancies when the tenant vacates or claims that they weren't "supplied" in the first place.

I only provide this advice after failing to carry it out myself and now find myself the recipient of a few recent and unexpected key costs in recent months. You never stop learning as a property investor that's for sure.... :rolleyes: