Forum Replies Created
When doing a reno its the 6 pack of cheapies and if its my own place and I want a great finish its the good quality ones. I still use the same good quality roller and a good tray everytime. The best roller trays have deep grooves so if your roller is easy to add and remove paint in the tray the whole job is easier to complete.
Timing of what part of the job to do first is important too. I do ceilings, gloss doors and trims, and you can be a bit rough with each, as you only then have to cut in once when you do the walls. It saves time.
Question: who thinks this market is moving ahead (SEQ and Tassie) and what steps are you taking to take advatage of this?
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Thinking like this will only get you ahead!!!!!
Oh yeah Yasmina, have you bought yet, you seemed keen when last we emailed.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Dont forget its next tuesday for our first meeting/dinner combo night lets see you all there.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!ho Robo, we just bought a place with a pool and it is wonderful to see your kids learning and developing skills in your own back yard. As they grow you can keep an eye on the friends as they enjoy your pool.
Chemicals yuk, filter yuk, pool top up yuk, but we are getting a water tank installed, and in the total picture it is well worth it.
Secondly Robo if you are north coast NSW how about the Coffs Investor Group meeting on the 13th at the Annuka Resort. Dinner afterwards upstairs too.
Just a thought.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!A couple of years ago everyone was really hot on the property bandwagon. Now it seems the lustre has gone off this form of investing and accordingly those who work assisting others to achieve their goals whether via property investing, stocks, shares, cash, international markets….whatever, have now got more time to think on how they generate their personal income and contemplate the future.
As Michael has taken the step with the new Deakin uni course, many others, like myself see the broadening umbrella of ASIC and have been advised to become financial planners to be able to give advice on several investing product ranges.
I personally was amazed that within the guidelines of the financial planning course, only 20 minutes were dedicated to cover “direct property” as opposed to “property trusts”. This left me shocked as to how little focus any financial planner would have on one of the most successful investment modes.
However having completed hours on estate planning, superannuation, insurances, fixed interest products, managed funds etc etc. All I’m seeing from the structured financial planning models promoted via an ASIC certification, is a glorified insurance salesman or mortgage broker with the backing of a large institution to base his selling off.
An AMP or Mac Bank advisor(examples only) would not be truly independant due to the limited product ranges by their “licence” they would have available for their clients. To say an AMP guy would recommend a Westpac or MLC product which may be the best for a particular clients needs is laughable.
So ok, lets all go off and get this or that certification to appease those nervous investors that need these criteria before they will look favourably at what we promote in this industry. Let however, those that believe good ethics, a bloody good knowledge of the investing markets we advise on, and dont need a dose of credibility from another piece of paper on the wall, to do what we do well.
We dont snub those that have 4 or 5 qualifications in an industry, but rather let them spend endless years in courses and be happy, whilst others base their advice on hours on the ground doing, rather than reading, about markets.
I am a financial planner via an approved course, this was to make others happy and more confident to deal with my services, not getting any further knowledge than from my previous occupations of stockbroker, currency dealer, and insurance seller, Cordell building publications targetted to the building industry, GKN Light access, etc etc.
All of these “past lives” have given me the good grounding in finance and the building industry, far exceeding anything I learnt on any course.
All im saying is that we all approach the same market with different knowledge and experience to start with so our perceptions and approaches will also differ drastically.
Lets be honest, someone that has done an inhouse Westpac(example only) course would have no possible way of knowing the full range of whats out there to invest in. Will accurately do a fact finding and send it off to a para planner, get the info back and base his recommendations on a summary created by a planner that does profiles daily, and advise people about their future with no consience whatsoever. All the while getting signatures from the client to sign of at this stage or that stage to comlpy with auditing.
It doesnt fill me with any warm or fuzzy feeling about parting with my hard earned money to any run of the mill financial planner either.
My focus is property, and if thats too hard for some, thats cool, use those “professionals” you feel comfortable with.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!The first dozen IP’s are always the hardest…only 11 to go!!!!
Good work girl, knowledge is king, but so is cashflow. Hope it all goes well.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!David Rushworth a local mortgage broker and financial planner was our guest speaker tonight and spoke regarding the importance of estate planning and a few simple tips regarding contract wording for beginners.
12 people attended, we welcome back our regulars and also our new attendees Sara and Shaun, and Tom and Anne. Who are at various stages in the investing game.
Lots of networking took place and many stayed on until 9.30 after the 6pm start. We are growing in numbers and enthusiasm all the time with some great stories from our members.
The casual sit around and have a drink approach works well and this will continue in the coming months.
Next meeting is Tuesday the 13th September at the usual venue, so dont be shy. 02 6651 6644
DD1
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Firstly LODOC loans usually cap their risk by not going as far as 95% loans.
See a broker and dont talk to just one bank with one set of options.
Secondly, if you are at 95% and want to squeeze cash out for a reno……good luck.
Most loans can be setup at $95% for a premium on the interest rate but for reborrowings they usually limit it to the 80% you get on a vanilla home loan. So unless you are experiencing magic cap gains(and why havent we heard of it) it seems not to be in the easy basket.
Again, see a good broker and if he cant help you, see another. Basically dont give up or it will get you down. A few dead ends will evetually lead you down the right path.
Keep at it and good luck
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!The more you have the better the options and the less a sale hurts the overall portfolio.
Not knowing your total costs for the kids and missus and your other expenses(car costs etc) it is really hard to forcast your future accurately. However I would get into a reno on the neg geared property.
Some down lights, a garage or carport, covered entertainment area, air con. All are reasonably cheap each and give your property the $10/wk potential each if not more. They seem to rent well so make them the cream of the crop and always do maintainance promptly.
Then jack the rent up. Chrissy send them movie tickets and say thanks for being good tenants. All these nudge up rents to assist your neg properties get closer to paying for themselves. Its amazing how cosmetic changes affect your perspective when looking to rent.
Consolidate loans, go IO instead of P&I. All are valid options to clear the bad taste from the dogs with no cash. Buy when you can but be more selective and if you do get a $100k with $110/wk rent(5.5% return) do a reno for 7k and get $165/wk then 7.5% and a breath of fresh air lands on your cashflow crisis. Still not 100% positive but at least after tax you arent going backwards.
Failing all this, sell the kids!!!!!
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!How long has it been on the market, panicky sellers are good to buy from.
What needs repaired or fixed- take it off the price.
What state are you buying in. Qld, negotiate first then do contract then searches and inspections(building/Pest).
NSW searches and inspections first then offer based on reports. Different world entirely. Contracts differ as does the whole process.
Go informed to the real estate and with the info you can negotiate better for your future home.
Hope this helps
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!leaving the dog of a first investment alone means you are still carrying debt. What cap gains could you get by selling it? Would you not be better having several “entry level properties for say $100-115k each earning between 6.8-8% return.
Add the UK cash worth about $58k after exchange and you have a yummy 4-5 cheapies to give you the right rent return. Maybe neutral now with rents rising this is short term before you have cash coming back out.
Dazzling is right, tax credits can carry forward for 4 years under Australian tax law(well this week anyway). So go earn good pounds and have a happy pay down of your loans when you eventually return to the land of Oz.
I have one investor in London making a killing on what he is earning there so make hay while the sun shines.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!HI, to offer advice on any financial products you would have to become a financial planner to cover you australia wide. This is then regulated via ASIC and is certified by them.
If you were working specifically in one state only, a real estate licence for that state would be definitely something to do.realestate.com.au has a “buyers agent” button. Click on that and it has more info as to individual state requirements.
I operate Australia wide and even though I only specialise in property I am still a qualified financial planner.
Hope this helps.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Qlds007, again your conservative attitude darkens the thoughts of others. Look back to May’s API page 48 mate. We have done the same thing and are still signing another contract this week.
Taking calculated risks is how you actually get ahead.
Happy to chat further if you would like but for good ness sake, let others get the resounding well done for coming out of the last property cycle in great shape for the long term.
I have $34k in rates a year etc etc and have a variable income stream from personal effort, but now have $400-500k a year in equity growth.
So who is right and who is wrong……….noone, just different opinions on who is happy with a certain level of risk and those like you that arent.
We now have $2mil equity and $2.1mil debt. So whats the big deal. We sustain it and massage loans through changing lenders and from P&I to IO. We enhance our rental yield by doing renos and we are super happy.
Well done to these guys, its nice to have some happy company.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!As the impetus for some market sectors north of the border flattens out, it would now seeem logical to at least look at NSW property again. The govt loosing money over it, I doubt that. With the new increased levels of activity, the normal stamp duty gained will far outstrip the loss of the 2.25% on exit.
If sentiment adds 10% to property numbers sold, this relates to 4 times the income lost on any additional property sales generated.
Give us a break, giving something up, not our govt mate.DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Buyers agents or “birddogs” not only help with finding deals, but negotiate, answer those tricky questions and calm the nerves.
Find someone that fits your own approach and do not get railroaded by someone a bit too pushy.
Most of all, a cautious decision is less likely to backfire. Have fun, play it as a numbers game, dont get emotional and good luck.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!First investments are always the hardest as the fears and emotions take charge that much easier.
Was it so hard a struggle that you barely had the cash to fund buying it with no buffer for problems like this or is it that you were grossly overquoted the rent for the area from a conman of a sales agent.
Did you check rents and what inclusions were needed to obtain those rents in that area before buying? Did you question any other agents before signing your management agreement? What rent do you actually need for this to be comfortable and is this figure achievable as is?
Kid yourself not, property involves research not just in purchasing, but management, maintainance issues, loan structures, existing or proposed infrastructure effects on your little “baby”. All of these factors are not to be glanced over but ruthlessly persued for your best result, and not the agents.
Good Luck
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Waste of space guys not useful here, sorry.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Sea change, its basically where the best potential rental return is, either houses or units.
As unit pricing continues to rise($20k in last 3 months yahooooo!!!!)this means that the rental return ratios are tightening up. So when you can buy a 2bed townhouse for $125k with a $160 return with body corp fees and smaller land footprint to worry about, the houses at $159k with a $210 return and no body corp fees and greater land content would then again be more attractive for your investment dollars.
So to give an example, a $100k unit getting $150 rent is a 1.5/1 ratio or 7.5% return if the same unit now costs $120k the rental stays at $150 and you have a 6.25% return.
For a house at $159k to get $210/wk rent it is at 6.8% return and more attractive for the above reasons.
As for Beenleigh and Eagleby, another 10-15 minutes to Brizzy CBD, Gold Coast council with different rates etc, crime is still higher as rents havent pushed up quite so far yet, and in the same area is Bethania, right near the water, a bit of an enclave with better than average growth than for the surrounding suburbs. Edens Landing is another townhouse dominated suburb there too with more retirees and its own train station and small shops. Pricing here is a little higher with no better return, so finding those bargains may be difficult here too.
Whatever you decide, good luck.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!fhog will be there when you buy your first “to live in’residence. It is not affected by owning an IP. So buying an IP first will get you 100% tax back on your investment. Alternatively if you buy a ppor now you get 0% tax deduction for repairs, fix ups etc and all of your hard earned disappears for a long time to pay it down.
$25k deposit gets you a 7% return townhouse or unit in Logan Central Qld, so your only limiting factor is your own thinking. Get an IP, pay less rent where you live than if you were buying it and paying a mortgage, and use the leapfrog effect of buying, reno then rent out, get better val, peel out deposit and do it again on the next property.
In a short space of time 2-3 years you will have a couple of comfortable IP’s and then use equity from them and FHOG to get into your own ppor with less pain and a bigger deposit. Securing your future in the process with a couple of small ip’s.
Good Luck, its all up to you.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!Its called oportunity cost. Your cost for being a good child to a non paying mother, is a crap tax return.
The tax man will not care who it rents to or what rent they are paying. All he wants is as much of your money he can legally steal. So either up the rent for mum or wear the tax cost. Either way you loose.
Got a plan for you, put your mum in someone elses under market rented unit, rent yours out for full rent, get your tax deduction and extra rent as well then with your better financial situation then kick a few $$ back towards your mothers rent elsewhere.
Works for me.
DD
Buyers Agent (Dip Financial Services(FP)
Don’t sweat the small stuff,and it’s all small stuff!!
