[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 8:37 pm

Hi RobbieP,

I use the following –

http://www.domain.com.au – click on the property report tab at the top of the page

http://www.onthehouse.com.au and http://www.refindhouseprices.com – these I discovered while reading some of the posts here.

http://www.realestate.com.au – go to sold prices tab

I don't pay for reports.  I just go to all available sources and make an educated conclusion based on all known facts.

Future property prices is dictated more on the basis of local government's short, medium and long-term plans; population growth, and infrastructure support rather than previous performance.

On the basis of this facts, I always refer to the Council websites to check on the local government's vision and plans for the future.  Far thinking, progressive minded local goverment is what you need, not some bureaucrats stuck in the mud.  i will give you an example:  http://www.parracity.nsw.gov.au/

If you click on that link, you will find that Parramatta is engaged in a many council development including the arts.  When I first arrived in Australia in 1991, the people in Parramatta were all battlers who only worried about day to day activities, pay check to paycheck.  Now, they are a gentrified bunch.

You want to see VISION. 

I hope this helps.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 8:21 pm

Hi jasno77,

I jumped from the other direction.  I can relate to you.  I was petrified when I made the decision to do day shares trading after not wanting to know about for a million years.   Now, I'm quite happy to say it's convinced me I will make more cash flow positive moves trading in shares than I did with property.  This is one reason I'm selling one blue-chip asset.

At any rate, if you still need convincing, you will make money in property… you will.  It's just not in liquid form.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 8:16 pm

Hi robbieP,

Is there any specific reason you want to buy in low income areas?

If you are looking for a good rental return and high capital growth, the Northern Beaches is ideal. 

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 7:48 pm

Hi Wirraway,

If the debt burden is not too heavy, carry it for a month or two.  I can only assume that by the 45th day your partner (ex), will come to his or her senses about the real "value of the property."

Match the highest offer and say that at least you both get to save on agent's fee.  Just so there's no complications or unwarranted accusations that you may be rigging the result in your favour, allow ex-partner to be in charged of the selling process.   Let ex be the boss from picking the agent, to the means of advertising, etc. 

When signing with an agent, don't sign for exclusive agency agreement.  Make sure the agent understands that there is a chance you'd buy the property yourself. When agent and partner say we got an offer for this xxxx amount, ask to see the offer in writing.

If you're satisfied, match it and be done with it.  However, there is also a chance someone would offer to buy at the price you can't possibly refuse. Sell it and enjoy the proceeds.

I hope this practical solution helps.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 3:54 am

Hi Robbiep,

I bought all my interstate properties sight unseen. Four in south Australia and one in Queensland.

Why? Apparently, I have a high tolerance for risk. Or maybe, I’ve got a loose screw in my head.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 3:24 am

Hi Wade Anthony,

This is my strategy and I’m 100% sure that it is NOT the best but it works for me.

Wherever possible, I sell in July. Or I delay settlement till 1 July so I am able to have 12 months in which to put in place a tax minimisation plan. Remember that tax minimisation is not the same as tax avoidance. The former is legal, the latter illegal.

Please note, I said, whenever possible. This means the benefit should far outweigh the negative, in terms of timing.

Tax minimisation may mean spending some of the sale proceeds to do some repairs or capital investment in another property. Or, re-investing the tax dollar before it is required to pay ATO.

When I sell in July, CGT is not payable for another 12 months, and then I waited till October to file my income tax. If I’m anticipating tax refunds, I file in July. If I’m anticipating owing ATO money, I file in October. Time, after all, is golden. It can be your best friend.

I hope this makes sense.

Angelina

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 20, 2011 - 3:06 am

Zaul wrote:

You do not need income to invest in Property.

Every book i've read has suggested you can borrow everything and just do it via foreclosure homes.

Zaul,

I’m so sorry to day this is absolutely, positively not possible in Australia.

However, if you come back to Australia, I’m happy to become your mentor. I promise that if you get a good job (above minimum wage), become a permanent full-time employee, save $5,000 and keep a good name (no listed default). I can help you buy your first IP.

Promise. you don’t need a lot of money but you must have a little something.

Right, let’s be clear about this, honey. You can’y buy with nothing.

See you soon, hopefully.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 7:48 pm

Hi Peachy,

I may have a solution for you that's safe and involves only minimal risks.  The strategy also includes the possibility of a baby coming into your life sooner rather than later.  A plan should always include a contingency like this.

If interested PM me here or email me directly on [email protected].

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 7:38 pm

Hi Zaul,

Thanks for the good words, I can only commit to mentoring if you are Sydney-based.   I do help a lot of people with time.  I classify myself as a "good sounding board."

I observe that you are actually  very confused with things.  Your understanding of the realities in the real estate market in Canada and Australia are mixed up.

You really need to focus on one thing and become a subject matter expert on that particular market.  You can't be all over the place.  Enthusiasm is great.   I can also sense a risk-taking personality but this characteristic will not take you very far unless you can focus.

If you want to invest in  Canada, as you repeated claim, you need a Canadian mentor with understanding of Canadian taxation rules, real estate laws and other relevant issues.  Australian-based investors cannot help.  Now, if you want to invest here, see me.  I have all the time in the world.    Don't hide in Penrith again, ok?

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 7:29 pm

Hi all,

This is my own opinion only….based on personal experience.  I will NEVER, EVER buy a unit again.  I live in a 10 bedroom house, with 2 kitchens, 4 toilets and showers and it DOES NOT cost me $6K or $21K to maintain it.

The day I have this much money to give away, would be the day I can really call myself a millionaire.  For now, I am still a battler so owning a unit is not for me.

Take care all.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 7:10 pm

Hi Yanglee and Kotleralex,

How are you both?  Enjoying reading and learning?

I'm sorry if i can't take your words for it, you posted glowing reports in favour of  a company that's under scrutiny from authorities.  You did this on your own accord… that I'm pretty sure.

But what is suspect is the fact that you joined the same day as your posts.  Did you join for the sole purchase of spruiking this company?

Umm…  not so nice.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 6:55 pm

Hi Infallible,

The property market is flat at the moment,  save for another 12 months and get a cheaper rate and borrow less.  There is a time for everything under the sun.  Now is the time to gather strength.  There is no hurry.  Why pay crippling interest rate that could possibly set up back again?

Use the coming 12 months to good use.  Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 19, 2011 - 6:52 pm

Hi Desilucky,

You need to speak to your solicitor ASAP,   I am ssuming you did your due diligence before signing on the dotted line?

The forum member are not able to give professional advice on this nature. We don't know what terms and conditions you agreed on with the builders. 

You do have our prayers for a speedy resolution though.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 17, 2011 - 8:35 pm

Hi SC541,

Never fear to ask.  Ask and you shall receive.  What are you worried about?    What's the worst thing that can happen?  They'd say "no" right?  And if they say "no", what's the worse thing that can happen?  You didn't get the property that didn't belong to you anyway.

And there is no rule that says, you can't give another offer?

Secondly, negotiation takes many form.  I had once been able to reduced an accepted offer by a further $15,000 by going back to the agent and saying, if they reduce it to xxx, I can settle in three weeks, "would that help them?"    Sure enough it would, so I got another $15,000 discount.

Hope this info helps.

Thank you.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 17, 2011 - 8:26 pm

Hi all,   Hi beedie,

I read all responses with interest.  But it hasn't changed my mind.  I still reckon the interest rate has to come down a tad if only to make me happy  . 

Joking aside, the people's confidence is shot at them moment, many big business falling under and small businesses struggling to make ends meet.  I am aware that it is not the IR causing it but to a degree mismanagement and severe debt burden.  however, it can't be argued enough how the economy needs help.  The AUS$ also needs to come down a tad, our farmers and exporters are being hit badly. 

Although, for those wishing to invest in the US, it is a good thing.

Enjoy the day.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 17, 2011 - 8:03 pm

Hi Propertyjockey,

I hope you are using the stats only as part of your research and NOT basing buying decisions solely on it.  You must also research the Council website.  This is CRITICAL.

I will give an example, a fellow investor invested in an up-coming suburb, all the indications showed it was on an upward trend.  He didn't looked in the Council website where it has been pegged as the suburb of choice for the upcoming garbage depot.

People who have bought there are now up in arms and lobbying the Council to dump the plan.  It was part of the Council medium-term plan, meaning this was disclosed by Council in their newsletters (who read them, right?).  The info have been uploaded in the Council website for years (who also read that, right?).  And now the people are blasting the Council for the new garbage site that's suppose to open???

Make sure your research is WHOLISTIC, not just stat-centric.

Google is also very powerful tool.  I wanted to buy in either my two dream suburbs:  Beecroft and Cheltenham Sydney.  The only houses I could afford are on Boronia St., and Castle Howard St., etc.  Having surveyed the area,  I was turned off them because they were very noisy streets and nothing could potentially fix the noise problem.  But what alarmed me is that further google research showed that the freeway is going to be expanded.  Wow!.  Imagine that.  You could be sleeping with ear muffs.

In order to "pick" the right property, you must also let your legs do the walking.  .

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 17, 2011 - 7:46 pm

Hi rin,

Ryan did explain he built a duplex, so each of the duplex is renting out for $550 a week.  In Sydney, that's pretty standard.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 14, 2011 - 9:38 pm

Stever1,

You'd be surprised how little you'll end up with at the end of the day.  Steve, find out the NET income after grossly expensive strata fees and management fees have been deducted.

It is peanuts with a little p.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 11, 2011 - 9:14 pm

Hi Personal Leader,

It's good that you're trying to help her.  May i recommend that you use a professional valuer?

Valuation is partly subjective.  It is not an exact science.  It is not precise mathematics.  You have good intentions but many people have been burned by their good intention.   You don't want later on for her to turn around and say you've taken advantaged of her. 

Get a pro to do the valuation and get her to sign a piece of paper that she agrees with the valuation.  You should not put yourself in a situation where you could be accused of cheating someone or taking a battler for a song.  Rightly or wrongly, when you are accused as such, it would be hard to recover – not to mention that danger of being hauled to court.

Don't leave yourself open to accusations.  Be above board on this one and let the pro do the work.

Take care.

Angel

[angelinsydneyParticipant@angelinsydneyJoin Date: 2011Post Count: 270]

April 11, 2011 - 9:06 pm

Hi,

The newer the building, the higher the costs of quarterly strata.

There are new buildings in Sydney CBD that charges up to $25,000 a quarter in strata fee.  The building known as the "Toaster" near the Sydney Opera House had one penthouse which was for sale a few years ago, the quarterly strata fee was advertised as "approximately $100,000!!!!"  Imagine how much they're paying now!!!!

There are suckers born every minute.

Angel