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Hi mate – great first name
There is a great series of articles here:
http://propertyupdate.com.au/categories/property-development.html
probably also worth subscribing to the newsletter – always a good read
Be careful about Perth
Check out this article – interesting reading:
http://www.watoday.com.au/wa-news/perth-property-market-worst-in-10-years-20101206-18ma0.html
MAke sure the banks will lend you money against these. They don’t see it as a normal property investment.
Also – they are hard to sell if ever you have to – in general these do not make good investments As JacM says – minimal capital growth
You may find 4 units is a bit too big for your first venture – make sure the banks will lend you money.
They like to see some experience – for 4 units, they’ll probably only lend you 70% LVR.
If you don’t have a builder – how do you know the cost for your estimates. I’m not trying to be negative – just give a few things to think about.
You better learn a bit about development – probably can’t do it from a book or articles but you may get something out of this series of articles – has some good stuff on property development:
http://www.propertyupdate.com.au/categories/property-development.html
Good luck with your project
3 of my friends had Lasik in the last few years- all wore glasses before – not do now. They all did it cos hey play sport.
They are all very happy and would highly recommend it. One had a little infection for a few days after – needed some drops , but still highly recommends it to all who ask.
Good Luck
Some great books have been recommended you asked about DVDs
I recently bought one – very good – great for basics that you asked for – but much more than that 4-hours of great contant from Michael Yardney – I think it’s worth buying – Building Wealth through Property Investment http://www.propertyupdate.com.au/dvd—building-wealth-through-property-investment.html
Hope this helps
Multiple trusts have other benefits – land tax minimisation (makes a big difference as your portfolio grows) and asset protection (your assets are in separate silos) , but you will have to personally guarantee the loans made tot he trusts and the banks will know about the loans to the other trusts as has already been mentioned
How about trying Metropole – George the director won buyers agent of the year 2 years in a row. http://www.brisbanebuyersagent.com.au/
Justine
Carly is a great presenter – I’ve seen her a couple of times and come away motivated, but let’s get real.Do you really believe you can become a property developer with NO MONEY or search for sites for experienced property developers who have been doing it for years???
There are always people out there who will sell you an expensive get rich quick course. Sure educated yourself, but I’d avoid her
Linar wrote:Charles 1 wrote:Have you checked out Metropole – they always seem to be mentioned and always good feedback: http://www.sydneybuyersagent.com.au/ It's a hard decision isn't it – what criteria are you using to chose the buyers agent you will use?Be wary about using Metropole. They also sell their own properties so if you do decided to use them, do your due diligence and, if they are trying to sell you one of their properties, make sure that you get completely independent advice, ie, valuation, solicitors, conveyancers etc.
K
Hi I’ve looked into metropole – spoke with them – they definitely do not have any properties for sale – they say they are more than buyers agents- they call themselves property strategists and don’t sell any properties.
Nina_10 wrote:Can anyone tell me if they have invested with property manager groups and how effective they are. I have been given a choice of 3 properties to choose from and not sure which way to go. 1.Melton Vic. 2.South Yarra,Vic. 3.Zillmere, Queensland, (they are all off the plan properties). I am first time property investor, so would appreciate your feedback. ThanksWhat do you mean by property manager groups – who are they representing – I assume you mean property marketer groups – if that’s the case be very, very wary – huge hidden fees you pay for
I would suggest you get a buyers agent to represent you – not the selling agent. If you found the property – they should just charge you a small auction bidding fee
Welcome to the forum
What you are suggesting is the way most people build wealth through property – using the equity in an existing property to leverage from to buy the next.That’s why I like ( and buy) capital growth properties. You’ll find some people recommend Cash Flow properties, but while they are cheaper to hold on to in the short term, they won’t deliver the growth that will allow you to leverage off for the next property.
Read some good books during your research phase. Check this forum. You’ll see many recommend Michael Yardney’s “How to grow a Multi Million Dollar Property Portfolio – which talks about the exact strategy you mention – buy and add value.
It’s also worth getting his newsletter – http://www.propertyupdate.com.au/Good luck with your investing
I’ve also heard that apartments are not the go in Auckland.
of all the places in the world – why did you chose Auckland?
What is the purpose of your investment – CF+ve or capital growth – that will make a big difference to where you buy.
danielrusty wrote:Hi there,
I have decided that i'd like to buy my first property through a buyers agent.
I've been to see Momentum Wealth already and i liked what i saw there. Im also booked into c another mob at Capital 360. >
capital 360 don’t have anyone working in Perth yet – despite what their website says.
Have you tried Property Wizards – http://www.propertywizards.com.au/ – they seem to have won lots of awards
The news over the week showed some research form BIS Schrapnel- they say Sydney, Perth and Adelaide will do the best over the next 3 years. brisbane not as well – Melbourne will be slow – it’s had it’s run.
tang737 wrote:Hi –Starting out with investing. I highly recommend educating yourself about all things 'money' before spending all of your hard-earned. There are plenty of resources to learn about property investing, and different strategies for doing so.
My advice – learn about wealth creation, then about investing in property, then choose a strategy, then invest (ie spend!).
A good place to start is to read a book called 'Australias Money secrets of the rich' by John Burley.
http://www.powwowevents.com.au/cgi-bin/WebObjects/pwweb.woa/wa/category?number=3056
I wish I had read it when I was your age.
Good luck!
I agree – a great place to invest is in your knowledge – you’ll get lots of good info here and then read a few good books.
Have you considered buying an apartment – they have outperformed in Sydney so you will get in closer to the CBD than if you buy a house.
Have you checked out Metropole – they always seem to be mentioned and always good feedback:
http://www.sydneybuyersagent.com.au/It’s a hard decision isn’t it – what criteria are you using to chose the buyers agent you will use?
Careful buying CF+ve now that interest rates are rising.
Many suggest they will go up another 2 per cent in the next few years – that kills your positive cash flow and you end up with minimal growth
