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A bit of a reality check from forum members php
16.5% is pretty hefty for management fees. If you can try and negotiate the management fees it might be worth it but 16.5% of $635 is $104.77. $530/wk rent on a $715k property would be negative geared pretty hard. IMHO I don’t think it would be a good investment unless you are looking for a negative geared property and can afford to put money towards the property each week.
I think the growth for that area is 6% which isn’t much compared to 15mins away in Liverpool where growth is around 11%
I am new to investing as well, I wouldn’t invest in that area for a first investment. If you have that much to spend you could buy 2 properties for around $350k in a lower risk area. There isn’t much around voyager point. The closest shop in walking distance would be over the footbridge to east hills ( where I grew up) that is also the closest train station too.
Are you familiar with the area?
Voyager point in my opinion is over priced for where it is located.
Yea that would be great. It will be easier to source trades quick when doing renos
Thanks for the reply DM, I like the central coast and I think they are relatively cheap being on average $350k. What areas were your cc properties, were they umina or elsewhere. What areas are you looking into at the moment.
From a newbie, thankyou. It saves me googling to see what some of those mean.
What I would like to know is how can someone have $350k to buy a property and still be claiming newstart.
That to me sounds fraudulent.How much does the course retail for and how much are you asking for?
Although I have not used a buyers agent nor have I purchased my first investment property I think a buyers agent could be an advantage for a person if they are no good at negotiating a better price for the property and for the terms of the purchase. In some cases the buyers agent could negotiate a price that will cover their 10k fee and even more in some cases. I was considering using one when I purchase my first investment property.
Haha you will have to come and work down here. That’s a decent size house. I just done a 560m2 single storey last year. That wasn’t too bad. Took us 6 days. Myself and 2 apprentices.
Yea there’s not many stick frames down here in Sydney unless they are high end homes. Once you do prefab you won’t go back to stick, it’s so much quicker and easier. I heard someone say there is 20,000 homes to be built in Sydney.
For that price difference, why wouldn’t you. We put singles up in 1-2 days where as conventional would be double that. If there is alot of work for prefab up your way I would go for it.
Is there much prefab work up your way. We are flat out here in western Sydney. Heaps of new estates and thousands of houses to build. I just got offered 150 homes in one estate next door to each other. They offered us first pick of whatever we wanted. As soon as I get back to work I’m going to
Put on more boys and start smashing them, take as many as we can do.What is the m2 for prefab in qld
I’m in Sydney nsw. We just do pre fab. M2 rate is average $20m2 + gst. The builders licence in can get in anywhere from one day to one week depending how quick I provide the required documents.
Have you completed your builders licence course now. I’m going to get mine through an rpl company. Costs $3500 but I won’t have to sit in a classroom for another 2 years 3 nights a week
Yea Shaun I am a contract carpenter as well. He gets signed off in August so I will just stick it out. He is a good worker but always has a whinge about something to do about money.
Yes thanks php, I did post on another forum. I am trying to get the feel for investing so trying to get as much advice as I can so I thought $299 is much if it can give me atleast a bit of useful info. I have purchased a voucher with them so I can go anytime within 6months.
I will definitely be letting everyone know my experience. I want to purchase my first investment property early to mid next year and I think this session will give me the kick in the ass I need to get started instead of just sitting around reading and day dreaming about what could be all the time.
Hey dan good achievements so far. I’m looking to start investing next year. What yield are you getting for your property in nsw. Where is the nsw property located?
