Hi,
I am new to property investing as I have always invested in shares. I have been researching property for over a year and have looked at cashflow positive (NRAS), capital growth stories, mining towns, renovators etc. and am no wiser as to how to create the property portfolio. I have been reading amazing stories in property investment magazines and I am not sure whether the valuations are real or these are paid stories, i.e. massive disconnect between liquidation value and a theoretical valuation.
Anyway, I wanted to know if there was a property investment expert who can help me source property, my preference is Brisbane and Central Queensland as I think the LNG boom has further to go. I am in a situation where I would like to buy properties either preferably with capital growth expectations OR high yielding properties which I can use to create equity to buy other investments.
If you are looking for a so called property investment expert then you probably need to engage the services of a Buyers Agent and there are certainly a few on the forum here who cover the areas you are looking at.
In regards to buying a property where the valuation is different to the purchase price Yes this can certainly be done and all depends on hope desparate the vendor is. Everybodies personal and financial circumstances are different.
I purchased a property just before Xmas down at Hope Island (which i showed on the forum here) for just under $600K which was a Bank repossession. The property was sold less than 18 months earlier for $1.3M and although needed a wee bit of work was just a matter of being in the right place at the right time and also have cash funds available and a lender who had a loan balance less than the purchase price.
Remember though becos the valuation might be higher than the purchase price you can still only initially borrow against the lower of the two so still need to fund the deposit and acqusition costs. Funding commercial or development is slightly different but so are the rates and set up fees.
Cheers
Yours in Finance
Richard Taylor | Australia's leading private lender
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