Forum Replies Created
It depends where you are buying your investment.
More people are living in apartments in Melbourne and Sydney – so they make good investments, rent well and have capital growth.In Perth and Brisbane it seems like people still prefer to live in houses, even though more are moving to apartment living
I know I've had a split systems installed in one of my rental units- cost less than $2,000 and covers heating and airconditioning. And works well.
Remember you can depreciate itAs has already been said – you are going to pay for the perceived security of a rent guarantee.
They are project marketers – in general these people take between 8 and 15% commission on their sales – again something you pay for. And it looks like they’re into new house and land packages – you can do much better
It depends upon the council and the local zoning, but overlooking into neighbours properties and their back yards is an issue that the council will be concerned with
Are you asking for a recommendation for a property manager or to sell?
Hi
It sounds like you’re going to need a bit more money behind you as a deposit and you’ll need serviceability for the banks to lend you money.
You’ll have to educate yourself also, but there’s lots of good resources here on the forum plus a few good posts on which books to read.
If you want to understand what the banks are looking for there’s a good article here that show help you.
http://www.propertyupdate.com.au/how-do-the-banks-assess-your-application-part-1.html
Good luck with your investment journey
Yes it is legal.
But even if the DA is lodged it may not be approved by council and even if it is approved, the construction may not go ahead.Lot’s of problems in buying off the plan!
I don’t know the area – but just a thought – If it’s not selling to me it means the price is wrong.
If you offered it for $ 2 million no one would buy it.
If you sold it for $500,000 lots of people would snap it up
The price is somewhere in the middle – when you get the price right someone will buy it
Hi
An ambitious project for a “newbie” as you call yourself – best to educate your self and learn lots first.I big challenge at present is finance – you’ll need deeper pockets than you think.
The other is developing in a flat market – where prices are not rising and are falling in some areas.
There’s a great series of articles here on property development that should give you a good start in your education:
http://propertyupdate.com.au/categories/property-development.html
Good luck!
Interesting that of all the places you could invest you’ve chosen 2 suburbs where most of us would not invest.
Be wary of the Melbourne CBD market – there are over 3,000 off the plan units coming on the market in the next 3 years – there will be a huge oversupply there for a while.
Have you considered established properties?
You’ve heard it said that you don’t get a second chance to make a first impression.
I would have thought you’d want the property to look good to attract the type of tenant that would look after it.
Esp as its your PPR – it’s a small price to pay for getting a better tenant or more enquiries
DHCP wrote:GuysHas anyone attended a paid seminar with Positive Real Estate?
I would like to hear from you.
- What were your experienced?
- Did you learned a lot if so how much?
- Did you have some invaluable insight into real estate investing that you would not otherwise learned from from reading real estate investment books?
Cheers.
Leo
Haven’t been to their seminars, but viewed DVd’s and listened to CDs. In fact just finished listening to the free Cd’s they send you if you ask.
The CD presentation said stuff like just buy one property a year and in 10 years you’ll own 10 properties and retire.If its not fast enough for you that’s PK just buy 3 properties a year and in 10 years you’ll own 30 properties. Sell 20 and you’ll own 10 outright.
SOunds enticing until you try and se who’ll fund pipe dreams like this.
and they are really property marketers, not buyers agents like they say – they tend to get pad by the developer who’s projects they sell. So who’s sie are they on?
DHCP wrote:Are you attending his up and coming seminar?Yes Leo I’m going.
I’ve been to a few of his and they are always good value. Sure there’s some content repeated but I always get a distinction or two and learn some new stuff. And he’s been pretty right in what he’s said.
I don’t have any Carly Crutchfield courses to sell, but I have a book of fairy tales.
Anyone interested?
I agree with the others.
I have found Residex not be useful. Especially if the house is not “average” – they don’t know if it has been done up or improved or has it got airconditioning.
RP Data has more accurate stats
Interesting article in Property Update yesterday on investing in the USA.
http://propertyupdate.com.au/articles/is-the-investment-grass-really-greener-in-the-us.html
Read it and take out of it what you will. There are always different opinions on how and where to invest
In New Zealand they have some real investor clubs run by investors with no vested interests – nothing to sell – just people helping each other.
Unfortunately there is nothing like that in Australia – the investor clubs here are thinly disguised commercial ventures. That’s a real pity because it would be greta to join one.
DHCP wrote:Yesterday, I've encouraged Michael Yardney to produce Audiobook for his future project via email because. I told him about the market for this: there are millions of investors out there to commute by cars, train etc., which provide them the opportunity to listen while driving or on the train etc.Great idea Leo
I would prefer them as mp3 and listen to on my Iphone not just in the car – bit it’s really the same thing.In light of what you said wonder whether Michael Yardney will produce his new book in an audio book – I just read about it in his newsletter and am about to buy it on line – sounds like an interesting read with Ed Chan and 2 other experts, http://www.financialfluency.com.au/
As I said I’m buying it and I’ll let you know what I think of it
The main purpose of property forecasting organizations is to make weather forecasters look credible
Hi
Why would you want to place your PPR in a trust? the CGT concession loss is a biggy!I have read the ATO is very wary of people renting their PPR to themselves through trusts – they see it as a sham and disallow the investment deductions.
Get accounting advice
