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Data till end of November 2011.
The end of 2011 and the first few weeks of this year have been strong which is a great contrast to January 2011. Not clear if this will translate into a strong quarter but if it does that will be great as I personally know just how many people are sitting on the fence at the moment and waiting ( a lot). Some of the activity is due to the January 31st cut off date for the 10k boost for new product, though it seems like a large part of the activity can be attributed to the interest rate change of direction. Interesting to see if we can maintain this momentum!
Medians Nov 2011:
Houses: $429,341
Units: $352,961Shape wrote:Terryw wrote:When I was younger I went to as many free seminars as I could afford to
. I think it is a good way to learn. I still do go to free seminars whenever I can – went to a recent one by the ATO on SMSFs (they didn't try to sell me anything which was strange).I love the ATO talks
Why are they worth attending? Never been to one and am interested in knowing what they are like.
dark star wrote:Hey Guys, Instead of starting a new thread I thought I'll post here I'm in my late 20s and have saved 30k of hard earned cash, with a current personal loan debt of 30k, which will be cleared by the end of 2012. My goal is to have zero personal debt (bikes, store cards, overdraft) and 50k in savings ready to invest. I have a stable income at an office job and will be running various online ventures to have multiple streams of income returning 25+ net % cash on cash. I love property and I love the idea of property investing. I want to make high returns in the market and squirrel the money into positive cash flow property or property for cap gains. My biggest issue is where do I start? What suburbs should I be looking at ? I would prefer to invest in VIC first as I live in Melbourne. Any help would be greatly appreciated!Great work. Starting from zero should never be scary in this country if you are under a certain well advanced age, and 20's certainly qualifies as young in my books
Also the fact that you are actually starting is huge, many don't. Good luck with your journey!
Qlds007 wrote:Hi Big AJFirstly welcome to the forum and i hope you enjoy your time with us.
Certainly property investing can be adictive (trust me i bought 40 properties in 14 years) but half the battle is buying the right type of property. That is not say that a house is better than a townhouse is better than a unit but more to say that it is what suits your needs and risk exposusure.
One of the biggest issues with Companies you have listed is the question is what they are selling the right property for you or for them. Most of them offer house and land packages or land because it is very difficult to get a true valuation on the property and to see whether you are paying more than you should be and the balance is going to them by way of a commission.
Do any of them list or promote a 5 year old Townhouse in a good growth suburb – No and the simple reason being is the mian they are not Licensed Real Estate agents and therefore if they were they would only be able to earn a given commission. Secondly you would be able to compare prices from one Townhouse to another or one unit in the block to another and they dont want you to do this.
They will tell you that Bank valuers down valuer their properties on the instruction of the lender and to expect the property to come back at less than purchase price. You know it is worth more and you can revalue in 6 months time.
Well sorry that just isnt the truth.
Lenders do not instruct valuer to downvalue and a valuation is carried out merely to assess the lenders risk.
What makes me laugh with these organisation is they all seem to have someone on hand when you go to their office.
You are chatting to the person giving the demonstration or sales talk and wow our Solicitor who can witness you signatures has just walked in or heh there is the in house finance broker over there in the corner and he can help you fill out those cross collateralsied loan applications.Heh what the heck it is only money and well throw you house in as security for the first couple of loans and then you dont have to put any of your own funds in and well as i said before we know the valuer will down value the property but that sweet we can still get the deal over the line for you.
Yes time maybe something that you have a little off but my recommendation would be 2 fold:
1) Either look to engage a Buyers Agent someone who is acting for you and who can quote an amount up front for his / her services. You know what it will cost and as long as you feel what they come up with plus their fees is still a good buy you have someone do all the leg work.
2) Alternatively locate an area do a bit of reading on it and then call a couple of real estate agents and tell them to come to you with what they have listed. You can look through the properties and short list anything you want to have a look at. Give them your parametres up front i.e I want a 3 freehold bedroom Townhouse no older than 6 years old with single garage parking.
You will be suprised what you can learn from a good agent. Yes sure they have a job to do and yes the earn a commission but let them start the process off by doing some basic legwork for you.Get your Mortgage Broker to have you loan structure in play so you are ready to jump as soon as you find something and try and obtain a copy of the valuation. Not always possible but with many lenders you can even if you cant get hold of the valuation work out what the lender valued the property at. If not your Broker can always find out.
As i said in the opening paragraph remember you want to buy what is right for you and not what is right for the investment organisation to sell to you. They market new property for a variety of reasons but in the main it is because of the healthy commissions that can be earned and difficult to detect.
As Mesma mentioned the forum can be a wealth of free information.
Cheers
Yours in Finance
Well said!
I'm not sure how to add any more value other than 'trust but verify' with everything related to investing!
Good luck with your journey AJ
Introducing the Brisbane property score board! Data till 2000 at the moment, an interesting way to look at house price data and calendar year returns.
The Residex data extends back to the 70's and will update that when I have the opportunity.
click image for larger view
click image for larger imageI will let the sound of silence speak
AdisKay wrote:I'm a novice here & willing to learn everything i can, I have time on my side being 22years old. So i wanted to see if anyone has done any investment courses ? And i wonder why all real estate agents aren't investors. Goes hand-in-hand.You might think so but the reality is that most agent's aren't investors and a lot can't even think like one. Sales is all about marketing, however it should be one of the greatest ways to learn a golden skill (sales) and property investing at the same time for someone with the right mindset and perspective. Being a young investor is great, get out there and make lots of mistakes (small ones preferably but they can all be good) and learn! Never heard anyone say 'I wish I started investing later'
. I think it is a good way to learn. I still do go to free seminars whenever I can – went to a recent one by the ATO on SMSFs (they didn't try to sell me anything which was strange).
