Pete Wargent
speaker
553 appearances
2 recordings
1 series
first heard Oct 2022
last heard Jan 2023
Pete Wargent’s voice in public audio — every appearance, attributed to the second.
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Appearances
um so you're probably not going to see an appreciation on that type of an asset but if you're buying in metro areas where the the land component um is higher then that is that generally tends to fare better now if you apply that to a unit or apartment it probably means if you're buying in a block of 350 units there's not much land value but if you're buying a more boutique block or a townhouse then you know there is a bit more land component
But yeah, a lot of it comes down to market research, really.
If you're going to buy in a strata block, I think some of the pitfalls, buying into places with very high strata fees, that can become a pain in the backside very quickly and you'll find reselling harder.
And yeah, just do your market research.
If you're going to buy a unit, you want to know what's going on in the strata scheme because they're not run by professionals very often.
They're run by laypeople.
So you don't want to pick up a special levy, noise issues, tenant issues.
There's a lot of stuff you could fall into.
And that's what I was talking about at the start when I bought my first property.
I didn't know any of this stuff.
It looks like a nice place, I'll buy it.
But there's a bit more market research and due diligence to be done, I guess.
The Body Corporate Minutes, yeah.
So, I mean, you can pay for a professional report to be done, cost a couple of hundred bucks.
Somebody will read all the Body Corporate Minutes.
And if there is a significant issue in terms of the sinking fund or if there have been noise complaints or there's damage to the block, it will be in the minutes somewhere.
Yeah.
So it's very easy to buy into a place and then find out in a year or two, well, there's a special levy to cover an issue that was actually known about before.
It happens.
I've fallen into it myself as a young investor.
Showing 381–400 of 553 · page 20 of 28
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