Forum Replies Created
Hi Jacob,
Check out the buy, swap & sell section of the forum
https://www.propertyinvesting.com/forums/community/buy-swap-sell/
Seems to be a few copies floating around out there for sale, but couldn’t tell you if they’ve already been bought or not.astroboy71
Email MeI am looking to buy there myself. good luck with it all.
astroboy71
Email MeSome further topics that I would want to read:
– How to assess landlord insurance
– Property mobile app of the month (something different than just your run-of-the mill apps).
– Where the Federal and State infrastructure $ are going
And just in general be clear on downside risks in all of your articles. I think property successes gets trumped far too much, and it would be good to read about people who are burnt and lessons learned.
astroboy71
Email MeThe developments I was shown had hundreds of units. I think the estimated rental values are probably correct prior to the unit block completion, however when there is a sudden flood of rental stock on the market those estimates would undoubtedly come down.
astroboy71
Email MeIf you have mortgaged IPs held under your name I can only assume that when you die your bank will sell them rather than allow you to give them to somebody in your Will. My logic is that they don’t know the credit history of whoever your beneficiaries so why would they allow the mortgage owners to change name (?)
Therefore I imagine this would be a good reason for IPs under a Trust, if your intention was that your portfolio continues to grow, acheive capital gains, and rental cashflow for your family even when you pass away.
Any other thoughts on this?
astroboy71
Email MeHi Richard,
Thanks for your comments (and everybody else's!).
To start a portfolio, at some stage you would have had to have ramped up with little or no equity and THEN made the decision at some point to pay them down?
Otherwise, how could you pay down AND save for further deposits to expand the portfolio?
I can see how as you pay them down your cashflow increases and it would accelerate the reduction of your LVR, but there must be a point when you decided to do that; that you had enough property?
astroboy71
Email MeI would go with JacM's advice about doing it yourself and bumping up the rent & claiming depreciation.
I was considering it the other day in fact. An electrician told me to go with the dual light/fan combo with a remote control…the remote control means they would not need to install an extra earth wire, therefore install costs are substantially cheaper, and the fans don't really cost that much more for this option.
The tenant gets the added advantage of being able to turn the fan on/off from bed. Just ensure the remote holding bracket is fixed to the wall so there's a place for it rather than just getting lost.
For this he quoted $60 for the install plus $20 if a wood beam had to be installed for support. So at most $80 per fan (Western Sydney)
astroboy71
Email MeI've never used it but recently came across http://www.homesales.com.au which allows you to search broad areas (eg. NSW) under positive or negative cashflow deals, specifying how much % you want from the yield. It sounds ideal for cashflow investors but I can't be sure of the accuracy (ie. where they pull their data from). Guess it also depends on how sophisticated you want your searches to be.
Having said all that REI often put out free trial periods in various property media, so look out for those and give it a go. I'm going to do it when I'm ready (financially) to go for my next investment.
astroboy71
Email MeThe cynic in me says that Mining companies are really just holding out for a change in federal government. One that will repeal the mining tax. And perhaps they are single handedly trying to lower the Aussie dollars value to improve profits…?
I have seen the head of BHP say on tv that they predict Chinas demand for minerals will increase in 2013.
So may just be a longer wait.
All my opinion though!
astroboy71
Email MeYes, I've been thinking that way too which is why I went to the seminar.
With a buyers agent there's usuually a hefty fee though whereas this company gets their payment from developer commissions.
To be fair they did say to think of them as a different kind of real estate agent rather than a buyers agent
astroboy71
Email MeYep. He means me.
Thanks for your comments.
i am also thinking that I can likely find these properties myself but they're tempting for the lazy person in me!
astroboy71
Email Me