Unit 1/582 William Street, MOUNT LAWLEY WA 6050

ENJOY WALKING TO GET YOUR SUNDAY COFFEE
This refurbished 2 bedroom, 1 bathroom unit in Mount Lawley is within walking distance to the Beaufort Street cafe strip and Hyde Park, a five minutes drive to the city, plus there is a bus stop at arm’s reach!
– One secure parking bay in the gated complex
– Ground floor access
– An internal laundry
– Air conditioning
– Gas stove
– Free off street parking

Available 5TH OCTOBER!

Please contact the office for a viewing time.

Property Code: 1055

4 Bilkurra Way, MOUNT NASURA WA 6112

Mount Nasura Rental Property

Property for rent in Mount Nasura!

This comfortable 3×1 is perfect for working professionals, downsizers and retirees, or a small family that is just starting out.

Quiet and safe, you’ll feel right at home from the moment you walk through the front door. There’s a spacious family area with plenty of light let in from three floor to ceiling windows, overlooking the paved, private outdoor area.

The kitchen features a stainless steel oven, double sink, and ample cupboard space, and each of the three bedrooms are well sized, all with built in robes.

Property features:
• Three good sized bedrooms
• One bathroom
• Ducted air conditioning
• Spacious family area
• Well appointed kitchen with ample storage space
• Paved, private outdoor area with garden shed

WOULD YOU LIKE TO VIEW THIS PROPERTY?
Simply go to our website www.weloverentals.com.au and click on the Book Inspection button for the property, select a time and register your details.

If no times are currently available please call our office to arrange a private viewing. Alternatively please register your interest through the “Book Inspection” link and tick “Viewing Times Not Suitable”. You will be instantly informed when they do become available and you will also receive instant notification if there are any changes or updates to the inspection. Failing to register may result in you not being informed of any updates, upcoming inspections, time changes or cancellations to inspections.

Land Banking How The Pros Do It

We Love Rentals Land Banking How The Pros Do It

Many professional property developers use a strategy called “land banking” to stack the odds in their favour, so let’s take a look at what’s involved.

How it works

Land banking is simply the process of securing future property development sites today, at the current price.

Many large property development companies buy Greenfield sites, farms or large parcels of land and put them in their “land bank” to ensure they have a sufficient stock of land for future property developments.

Over time, they rezone the land, put in the necessary roads and infrastructure, undertake a subdivision and on-sell the individual lots.

While holding a bank or stockpile of land has helped many developers make big profits in a rising market, it has also been the downfall of a number prominent developers when real estate values slumped, or rising interest rates blew out holding costs.

Can this work for smaller property developers too?

One option for the smaller investor is to buy old houses close to their “use by date” on well located blocks of land, with property development potential in top suburbs.

The rent you receive partially offsets the holding costs, then you can add value to the site by obtaining property development approval (D.A) and then over time, proceeding with the property development.

Why is land banking a good strategy?

Many investors have made small fortunes by land banking because they are able to use a number of different property wealth accelerators that, when combined, generate substantial profits:

  1. Land appreciates – we all know that it’s the land component of your property investment that appreciates, so buying a property close to its land value can be a smart strategy.
  2. Adding value – by obtaining property development approvals you can add substantial value to a site.

Once you obtain a development approval for subdivision or for multiple dwellings, apartments or townhouses, you’ve taken out one element of the property development risk; the council approval process.

This makes your site more attractive to developers who may be prepared to pay a premium for it and it gives you the option of selling for a profit, or refinancing and continuing with the  property development process.

  1. Riding the property cycle – Try to secure potential property development sites in a “soft” market.

At these times, completing a project may not be particularly lucrative, so you can buy these sites at a good price.

As the market moves on, and it always does, the combination of a stronger market and owning a block of land with a D.A. in a prime position allows you to complete the project and make a substantial profit.

This strategy works particularly well in the inner and middle ring suburbs of our capital cities, where there is no vacant land for future development, but there is an increasing demand for new medium density developments from a whole new demographic of smaller households.

This includes Gen Y’s starting out in apartments, to DINKS (dual income no kids households); MINGLES (Middle Aged Singles) and Baby Boomers who are downsizing.

The combination of the current flat property market, a limited supply of potential property development sites and the future demand for more medium density housing make a perfect recipe for successful land banking.

The risks

The biggest risk is in relation to what type of project (if any) can fit on the property.

There are some properties, in fact many properties, that even if in the right location, don’t make good development sites.

Once you understand the local council’s requirements, some of the things to look for when assessing a site’s suitability for property development include:-

  1. Size and dimensions – how big is the site and are the dimensions (length x width) suitable for development? Is it a corner site that allows better subdivision potential?
  2. Current dwelling – What is on the land at present, can it be leased while obtaining a D.A? Will there be issues with demolition – e.g. heritage, asbestos?
  3. Topography – Is the site flat or does it slope? If so is the slope in the right direction for the natural fall of services (sewerage and drainage) or will pumping be required?
  4. Significant trees or obstacles – Are there any significant trees on the property or nature strip that will need to be retained and affect the development?

Are there power poles on the footpath that may need to be moved to allow for crossovers?

  1. Site Orientation – Which way is the site facing? This has implications for planning (natural light), overshadowing and overlooking (privacy issues with neighbours).
  2. Neighbourhood Character – what type of properties are in the neighbourhood and how will this impact on the nature of the proposed development?Are there new developments in the street that could act as a precedent for the proposed project?

What type of neighbours are you likely to have? Are they likely to object to a new development in their street?

  1. Neighbouring properties  – what are their setbacks from the street (may affect the required setback of the new development) and what are their setbacks from your boundaries? Are they single or double storey? Do they have windows facing the proposed new project?

All these could affect the size and positioning of your proposed project with regard to overshadowing or impacts on privacy.

  1. Utilities: What utilities are available? –  Water, electricity, phone and gas? Will they need upgrading? Are there any easements affecting the supply of utilities?
  2. Site Accessibility – Will it be easy to access the site for construction? This can be a problem in narrow inner suburban streets.
  3. Title Checks – Then look for the following on the certificate of title or in the online planning scheme:
  4. Easements: Are there any easements on the site?
  5. Covenants: Are there any covenants or restrictions in the title deed?
  6. Development overlays- are there any flood overlays that affect building heights?

Are you a property investor seeking reliable and friendly property management?

Call us today on 08 6254 6300 to see what we can offer you.

The Struggle is Real Why it’s So Hard for Gen Y’s to Get into the Property Game

The Struggle Is Real Why Its So Hard For Gen Ys To Get Into The Property Game

Whether it’s moving out of the family home or kick-starting a property investment career, here’s some of the obstacles that may leave Gen Y’s in the starting block.

1. Poor spending habits and poor credit – spending money that isn’t yours on stuff you don’t need. Credit card defaults can result in a black mark against your personal credit file, which may impede your ability to secure a mortgage down the track.

2. Lack of life experience – every young person thinks they know it all, but the fact is, experience only comes with years.

3. Lack of investment peers – it can be difficult to take the leap into property if none of your peers are supportive.

4. Unrealistic expectations – expecting your first house to be like your parents will only lead to disappointment.

5. The affordability issue – the fact is, the affordability barrier is very real, however this just means a compromise will need to happen, whether that be location or type of dwelling.

How to tackle these obstacles?

1. Work out if property as an asset meets your expectations – If you’re after a “get rich quick” scheme, real estate may not be the best path to take. Real estate is a long-term investment, so adjust your expectations to match.

2. Set a realistic budget and stick to it – remember, if this is your first home, it’s unlikely to your last so be realistic with your expectations.

3. Seek out a mentor – pick the brains of someone who’s achieved the type of success you aspire to in real estate and learn from the mistakes of others. Try to avoid the advice from well-meaning relatives and “armchair” real estate experts. Also take into account that a lot of people may look like successful real estate investors, but many are up to their eyeballs in debt, practically on the verge of bankruptcy. Find someone who is honest about the ups and downs of property investment – a quiet achiever may be your best mentor!

4. Save, save, save! – building a deposit will ensure good saving habits and put you in a better position for obtaining a mortgage when you’re ready to take the plunge.

5. Keep your credit history squeaky clean – you can check your credit score for free here.

Need a hand getting onto the property ladder? Take the first step and contact Naked Real Estate today.

Leaving Home – Tips to Help Survive the Big Move

We Love Rentals Leaving Home Tips To Help Survive The Big Move

There comes a time in most people’s lives where you decide to make the big move away from your parent’s and into a place of your own. There are a few things to consider in order to make the move a successful one.

Can you afford it?

Ensure you are financially independent and ready to move to avoid moving back home again if you find out you can’t afford it. Make sure to consider all costs. There will be an initial bond payment on your rental home plus 2 weeks in advance and ongoing rental payments. Utility bills such as gas, power and water also need to be factored in along with food, transport costs and maintenance on the property. Don’t forget funds for entertainment and any extra incidentals that may arise. There is also internet and television connections as well as purchasing furniture and all of those household items like towels and kitchen utensils that are needed. It is recommended to draw up a budget and calculate the costs against your income (whether it be on a weekly, fortnightly or monthly basis). There are plenty of great online sources for calculating your budget. And before you make the move…save save save and save some more! It’s important to have a safety net to fall back on to, rather than moving back home straight away.

Where to move?

Do you need something close to public transport or does it need to be near work or university? You will also need to weigh up the pros and con of either living alone or in a share house. If you are on a tight budget than share housing may be the way to go however there are several factors to consider including if the people you are sharing with are reliable and can make the rental payments on time (and not expect you to cover them) and ensuring all the required paperwork is completed and correct. Finally, communication is another factor to consider especially if you are sharing with flatmates. To avoid any issues arising in the future, set some schedules in place like a cleaning roster, when bills and rent must be paid by and whether food is to be shared or self bought. It is also a good idea to set some house rules.

And Remember

It’s also important to keep in regular contact with your parents! Remember it is an adjustment for them too. Moving out can be an overwhelming time so don’t forget to ask for help if you need it, whether it be from your family or friends.

 

Are you on the hunt for a rental property? Check out what we have available here.

Top Four Money Myths – Busted!

We Love Rentals Top 4 Money Myths Busted

Have you ever wondered how some people get rich while others fall short? To get you onto the right track let’s bust the top four money myths.

Myth 1 – Is it an investment or merely a gamble?

Successful individuals tend to study the financials of any future investment; looking for strengths and weaknesses, as opposed to chucking some money at an investment and hoping for the best.

Then they would run it past their financial advisor to make sure their financial due diligence was correct.

Basically, they did their homework. And their homework did not end after they purchased a stock, they continued to monitor the financials of each company they invested in.

If the financials got better, they invested more money.

If the financials got worse, they sold their stock.

Myth 2 – Good debt vs bad debt

If you’re using debt to create a business asset, grow or expand it then this will (hopefully) eventually generate significant profits.

And that’s good debt.

Bad debt is debt that is used to finance losses in the business after the start-up period was long gone.

Losses mean you’re not running your business correctly.

And using debt to finance a poorly managed company is bad debt.

Myth 3 – Being rich is all down to luck

There is a difference between random luck and Opportunity Luck.

To the rich haters out there, random luck is why the rich are rich.

Not so.

Opportunity Luck is why the rich are rich.

Opportunity Luck is a unique type of luck the rich create as a result of having good daily habits.

When you have good daily habits, you magnify the opportunity for luck to occur.

Good daily habits are nothing more than automated persistent behaviors that help get you closer to achieving the goals behind your dreams.

Good daily habits attract Opportunity Luck.

Myth 4 – A penny saved is a penny earned

Not so – a penny invested is ten pennies earned.

Many successful individuals invest their money in one or more of these three places: their own business, stock in other companies, or real estate.

If you really want to be rich, you must invest your money.

Are you looking for reliable property management? Look no further! Call us today on 08 6254 6300 to schedule your rental appraisal.