Forum Replies Created
thanks for the response guys…
I didnt mean to post this so many times. My connection was slow, so I think I may have clicked “post” a few times to many….
Thanks again for your responses…
Cheers[biggrin]
interesting stuff, thanks for your comments…
as the market is at the bottom of the cycle, I can understand the valuer coming in at a lower end of the price range (thinking it may still be on the slide).
But I think that this is bad estimate. [thumbsdownanim
Why?1. The property has a rental of $250 pw. If I sold today at $190,000, the buyer would be getting an investment with a yield of nearly 7%. How many properties are for sale with this yield? Rent influences the sale value.
2. Actual sale prices (not listed prices) of like-for-like apartments are in the 230,000-245,000 range. These same units list at $250,000 up…
3. You cannot buy a decent 2 bdr flat in Brisbane for under 200,000. Let alone one in a prestigious suburb, 2 minutes walk cafes, westfield, restaurant and 2 different cinemas.
I dont live in the place, its just an investment – so there is no emotion. Im looking at property every weekend, as Im in the market for another similar unit. You couldn’t by a 1 bedroom bedsit in this location for $190,000.
Very strange. It dosnt really concern me because Im confident of its true value, but its been a surprise that a bank valuation could be $50,000 out (about 25% out of range). [hmm]
Thanks again yall…. [thumbsupanim]
Im arranging for an independant valuation and will be interested to see the difference.
Thanx ctaing,
I checked the details of the broker i was planning to use – turns out that they were not MIAA approved/members.
Im based in brisbane, do you have any reconmendations for quality brokers with PI experiece.
[blink]
Ask yourself “Do I have the COURAGE to be free….?”
Thanks Guys, some great tips here….
Ive now got a much better idea of what to expect from my broker. I will make sure that they tick all the right boxes.
Thanks ctaing, wanelad, Terryw and Qlds007 for your help…
BreakEven [thumbsupanim]
Ask yourself “Do I have the COURAGE to be free….?”
Im interested to know what u mean by ” planning so you can get many more loans down the track”?
How can a good broker help here?
I guess Ive just had some bad brokers in the past. What you you guys suggest when choosing a broker, what would you look for and who would you avoid?
I have been contacted by a group called Asset Wise Financial Solutions. Strangely, thier website has no info on it – http://www.assetwise.net.au/
[blink]
Ask yourself “Do I have the COURAGE to be free….?”
Thanks Terry,
I have responded to you a few times to say thanks, but I think the forum or my PC is bombing out.
Im off to http://www.lawcentral.com.au to have a look. thanks again…
Ask yourself “Do I have the COURAGE to be free….?”
LA Aussie is spot on, “You can achieve an enormous amount in that time.”
I recently heard of a woman in her 70s who has decided to start investing in property with success. I hear, time and time again, stories of people who have made great leaps within 5 years – often while earning very modest incomes.
The key is buying quality property in areas that will provide good Capital Growth. You will recognise good property when you have seen many, many properties within your chosen area. As LA said, Education, Education……
Read PI books, go to seminars, speak to other PInvestors.
Your fear is a great thing, because in will motivate you.
Embrace it….fair play, I missed the bit about how long summer had till retirement.
Regardless of age, I was responding the the vague statement “I heard super is better than property”. Which deserved an equally vague response on why I believe property is a much better option.
Richard, I dont see the value in belittleing other peoples posts, who are just trying to contribute and often themselves are learning along the way.
Ask yourself “Do I have the COURAGE to be free….?”
Do you want to retire at 35 or 65?
I read recently inb Money magazine that most Australians wont have enough super to retire on. Scary stuff.
Compare this to investing in property, using the built up equity to multiply and building up a nice little portfolio. If property doubles every 10 years, how many years would it take to own at least 6 two bedroom apartments outright, providing what will undoubtably be a nice cashflow for retirement?
My bet is property, I have more control over my future, can retire alot earlier and there will still be a superfund (that wouldnt be enough on its own)
Besides, property is a fun game to play.
[biggrin]Ask yourself “Do I have the COURAGE to be free….?”
Thanks chrisconuts! You are right, my hands were typing something other than what my brain was thinking. The property is rented up untill the 11th month of ownership, where we then plan to “commence” occupancy of the property.
I am still looking for a good property investment accountant in Brisbane to advise me of the best choice. I just had a little girl on Thursday, so Ive been a bit distracted. Thanks for the advice crusher..!
Cheers
BreakEven [skull]Where abouts on the Gold Coast? Ideally brisbane would be good, but Im looking at all options..
BTW: I know a Richard Taylor on the Gold Coast. Your not Rich who is married to Bianca – are you..????
