Forum Replies Created
Thank's scott
Hey sam,
Thats great ,I will follow up on that.
Many Thank's
Daz
Sam Sandford wrote:Hey Daz,I've used Propell national valuers in the past to value my properties, and through my work..
GENERALLY, the costs are $220.00 per valuation – not sure about depreciation schedules though. They have an office sydney, might be worth giving them a go, or trying to organise one through your financial institution for you – they will get company discounts that you won't be able to.
Hope this helps.
Thanks Brett I will look into that.
Originally posted by duckster:You could go to the troyandbec property investor meetings they cost $5 and learn about property investing and see some presentations from time to time from results participants. There will be another meeting in April or buy their filmed meetings.
I think it was on the 16th lookout for the next posting for April about a week before actual meetings. You could get added to their mailing list.
Look for the address from this months posting https://www.propertyinvesting.com/forum/topic/27503.html
about the march meeting that has already occurred.Brett Duxbury
Duckster Financial Services
Mortgage Broker
http://www.ducksterfinancial.comComments are of a general nature and may not be relevant to your individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Thank’s Sunny,
Just out of interest who is the other agent & were you happy with teir service..At the moment I am just reading heaps as I know nothing & maybe thinking an agent is the way to go .
Cheers
Daz61Originally posted by paisneil:Hi
I’d just been to a presentation by Mcorp. They definately do not sell developers stock. They basically act as buyers agents and source properties at a fixed price. The properties they advocate are middle to inner suburbs with minor renovation potential.
Having said the above I havent used them as I already bought sumthing thru another buyers agent, I would not hesitate using them in the future.
Please do not take this advice of any sorts
regards
Sunny
Thank’s Marc
Much Appreciated.I havn’t made appointment yet as they are ringing me back on Monday,so I will just cancel there and then.R
DazOriginally posted by L.A Aussie:These sorts of organisations are usually a marketing company for a developer/s.
They will try to get you to buy overpriced properties that they want to sell, by telling you about how you can ‘secure your future’ with neg geared property (theirs).
The cost of the marketing and the commissions for salespeople who will be coming to see you for the 1 on 1 are built into the price of the property – you are paying for that.
They quite often offer rental guarantees for a couple of years (also built into the purchase price).
If you’ve organised an appointment I suggest cancel it, or if you must have the meeting, DO NOT SIGN ANYTHING, and ask the salesperson if they mind if you get INDEPENDANT valuations on the properties, finance and legal advice.
They will probably try to dissuade you from doing this and if they do ask WHY NOT?
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Thanks Marc,
I am Really just looking at a few options.But thanks for your feedback.R
DazHey Marc,
Thanks Heaps it just shows you I have a lot to learn.
Many Thank’s
DazOriginally posted by L.A Aussie:Originally posted by daz61:HI Everyone,
Today I went to an auction in my street,there was not 1 bid but someone had put an offer in subject to finance 465k after the auction. The home is 8 yr’s old 34 sq dbl storey,dble garage on 2300 sq mtrs Narre WarrenNth. I beleive If I spent 20 – 25k I could resell at 530 – 550k. Does this sound ok or not, if so can I claim on Interest for tax benefit & how do I set this up ? I am itching to get started but know very little.Does any one want to partner this project.Cheers
Daz [strum]This may help you decide what to do:-
purchase price- $465,000
purchase costs- $ 27,900 (6% of p/p)
reno costs- $ 25,000
selling costs- $ 12,000 (2% agent commission and $1k
legals)
holding costs- $ 17,251 (6 months interest @7%)TOTAL- $547,151
selling price- $550,000
PROFIT- $3,000.
less capital gains tax? – $1,000 (total guess; but possible)
NETT PROFIT – $2,000
I have based theses figures on the lower purchase price, the highest selling price, 6 months from settlement to resell of house factoring renos and sale campaign period, cheaper interest rate than market standard.
These figures are assuming that everything goes your way, although I’ve allowed 6 months from buy to sell and I think you will be hard pressed to sell it sooner, but you may be lucky. You may be able to spend less on renos, but the selling costs are probably higher.
In a nut-shell – it is a lot of work for a total waste of time.
Cheers,
Marc.
[email protected]“we get sent lemons; it’s up to us to make lemonade”
Hi JFisher
I appreciate the feed back thankyou.
DazOriginally posted by JFisher:Hi Daz
Please make sure you do your own due diligence (research) but I have Residex Top 100 predictions report (results ending quarter June 06) and Narre Warren Nth is rated 9 out of the top 10 country Vic for future growth predictions. Median value was $510.5k. If you are only going to resell then you probably wouldn’t worry about claiming too much back in the short term as it will only be added back when selling (I think that is how it works), although if you kept it you would get the building write off of 2.5% per year for capital works and there are probably some fixture/fittings in there that can still be depreciated quicker. Speak to an real estate agent and find out what the resale market is like for houses in that price range and area. You don’t want to spend that much and end up like the current owners did at their auction…no-one bidding!
Cannot help on the structuring and joint venture sorry.sorry address is http://www.cashflowcapital.com.au
Originally posted by daz61:HI everyone,
Can anyone tell me if they have had any experience with the above site ? some deals seem to be to good to be true. All though i am only starting to search for my first investment i could be missing something. The contact no is a Syd’ no even though I am only looking at Melb’ properties.3
Please AdviseDaz [strum]
Thanks Guys & Gals,
Will take this on board & keep reading. I am sure you will here from me quite a bit in the near future.Kind Regards
Daz[thumbsupanim]
