Work out what my goals/desires are for you and your wife.

Then implement the strategies that will enable you to reach your goals in the fastest possible way.

Take the path of least resistance!

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Also have your reno’s planned, with a backup plan!

If you aren’t doing the work yourself, make sure you have some tradies ready to roll once you gain access to the property.

You don’t want to be nearing the end of a 90 day settlement when the tradesmen begins the reno’s!

I do reno’s and believe me it can take 45 days to knock down a wall, strip…[Read more]

It depends on the size of the wall/job and exactly what you want. Sometimes further adjustments are required. Old houses may have large mural cornices on the ceilings that can’t be replicated if you suddenly put a wall up and divide the room. You may need to then re-line the ceiling.

Tips: If you can’t do most of it yourself, then I would look…[Read more]

There are companies that provide reports of construction costs (materials & labour).

Reeds is one I can think of, but I know there are a couple of others, though their names have slipped my mind.

http://www.reedconstructiondata.com.au/home.php

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I attended the MasterClass on Sunday. I am also trying to get my head around all of the information. It’s becoming easier with more effort (and the homework).

Unicorn I think you’re correct with your interpretation on the relationship between yield, rental return percentages, and property prices.

Describing a property as a problem can be pretty…[Read more]

Good luck with your plan!

Though as some other posts have hinted, you will need to be able to professionally report the deals to possible buyers/investors.

Are you finding many (any) investment properties at the moment?

How are you doing/reporting the figures on them?

What makes you and your deals more appealing to an investor than another…[Read more]

Love your work!!

Great creative ideas that work a treat. I suppose you’ve created a win-win-win-win-win situation…

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And so long as the government keeps the scheme going in a year or two. This scheme may not be around forever.

Though I do like your way of thinking!

What if you purchased a block of units that are under the one title. I wonder if you could use the FOHG to help fund the purchase, then after 12 months, strata the block, or subdivide it into…[Read more]

I don’t know of any Sydney-specific problems that you may face when developing.

Obviously council regulations (and even state regulations) will govern the extend of your project.

Though a consideration you may want to acknowledge is history. In most if not all councils there are heritage considerations given to property sites. Some sites might…[Read more]

Haven’t used any of these. Though I recently purchased Investment Detective.

So far I have found it is easy to use and a very needed too to not only number crunch scenarios, but maintain legitimate figures.

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Check the governing local council’s LEP (Local Environment Plan) and also it’s DCP (Development Control Plan). This should tell you the zoning and building regulations for the land you are referring to.

Also consult council staff (town planners) on any interpretations you may be unsure of.

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Either way the tennent still owes. At least that’s my understanding…

Learn, Love, Strive. Make a difference!

Also it’s not just about “finding” a property that has a better than the average yield in the area. You need to be able to see past the property and see the profit in the deal.

If you know that minor alterations can change the property, perhaps a small reno, and increase the property value or rental yield, then there may be greater profit in the…[Read more]

Hi Terrabyte!

I would first increase your education and knowledge. Learn about strategies, tax structures, returns and yields, and know what you want.

I would also consider attending one of Steve’s courses, such as the MasterClass. I did my first on Sunday and learnt so much about what I need to know in order to become an investor.

That way,…[Read more]

I think Kiyosaki does get many Australian professionals to assist with his courses that he runs here in OZ. Though the courses arean’t cheap.

That’s one thing I liked about Steve’s courses – the value. He doesn’t charge $5000 to attend. And he does give you loads of information.

Have you booked into one of Steve’s MasterClass yet? I did my first…[Read more]

Mark,

I don’t know the answer to all of the points you have requested, but I’ll help you as much as I can with what I do know.

Perhaps others in the forum can provide further info, or possibly correct me if any of my info is incorrect.

Firstly, have you attended a MasterClass yet? I reccommend that you do. I did my first last Sunday and learnt…[Read more]

It’s great that you have a plan loungeact! This is the first step – which is what most people don’t have. You NEED a plan. And once you make a plan, make a backup plan!

Scotty raised some perfect points with his response. Book yourself into one of Steve’s courses. Seriously! Now that you have a plan you need the education on strategies (these…[Read more]

some labourers get well paid – after all it’s very physically demanding. And these days there are shortages of labourers (especially good ones!) as nobody wants to do the hard yards!

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also the Reserve Bank website has other information you may be interest in, such as interest rate announcements.

http://www.rba.gov.au

Learn, Love, Strive. Make a difference!

you can also try the real estate institute in your state

NSW http://www.reinsw.com.au

not sure on the other states but I’m sure you can google them…

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