Forum Replies Created
So the real question now is will the banks pass the savings along…. – https://www.propertyinvesting.com/topic/5000013-0-25-rba-cut-was-your-bank-naughty-or-nice/
And will we see a bump in this weekends auction rates as the mug punters rush in to “push up auctions” when doing their calculator sums to work out how much house they can afford – http://blog.collins.net.pr/2015/01/australian-reserve-bank-interest-rate.html
Redwood if you want to understand whats happening in Detroit then follow Jerry Paffendorf. I met him here in NY as part of the tech startup space but he relocated to Detroit a few years ago and has been doing amazing stats and information collection as part of his startup Loveland Technologies eg his work on http://WDWOT.com is first class eg – https://detroit.whydontweownthis.com/#11/42.3529/-83.0992
Whether people should invest there is up to their own risk appetite…….my investment properties are in Sydney as I like no headaches, however I agree with @aussieindetroit as well in that Sydney investment properties are hardly delivering returns “over inflation” and we are too reliant on “Capital Growth” which is “on a tear” but could stop and come to a juddering halt once pay increases meet top down pressure.
Cheers,
DeanResidential is way easier than commercial for novices. Why not buy one less property to start with and then use some of the money as cashflow for outgoings……better still why not buy one property to begin with…go through the process of purchasing and becoming a landlord then decide what to buy next….eg learn before you commit 100% of your inheritance…..
Williamsburg on Beford Ave
Small world, my wife and I live in Brooklyn heights on Cark near the 2/3 subway.
NY is going up a lot year over year, but the problem is city taxes, eg even though our apartment is going up 100k or so a year it costs $24k a year in coop fees (60% city taxes) plus the $40k in mortgage etc plus any kind of renovation in NY costs 3x etc what it would anywhere else…….
you wont be able to get landlords to push their agents into using a specific app that you’ve developed.
That is true. I agree with you. Unless the app is better and saves the agent money and time. Then you won’t really have to push it.
@superandrew, as a developer I have to disagree there…..better faster cheaper are almost never concerns when it comes to application development.
The biggest issue is almost always “laziness” and momentum.
Online Property Management Software
◾123Landlord
◾Acturent
◾AppFolio
◾Buildium
◾DIY Real Estate Solutions
◾EVA Property
◾iRealtyManager
◾PropertyBoss
◾PropertyGate
◾PropertyWare
◾Rentec Direct
◾RentMonitor
◾RentPost
◾SimplifyEm
◾UnitConnect(a list that took about 60 seconds to google)……like said before…..lots of developers don’t look before they leap…
@propertyseeker……the good news is that as the sale price is “fixed” and you haven’t been paying the mortgage then you’ve been earning pure capital growth on the vendors dime. eg its not costing you anything…..
For example lets say the property is 13 weeks late exchanging and its worth $1m with capital growth in the area at 6%.
Then the vendor has given you a $15,000 discount because while you haven’t been paying the mortgage…..you earned $15,000 in capital growth.
Of course…..none of this matters if you need to sell your own place or are paying rent etc but basically if buying an investment property then buyers should always be looking for delayed settlement as it all adds up…….
what does your contract say?
the real question is what happens when your property is purchased by another investor who also hires the agent to manage for them (like we did recently :)
as you’re probably going to hire an agent to sell the property for you…..why not negotiate with the PM that you don’t have to pay the break fee in order to give them the sale……..alternatively go to another agent and tell them that they can handle the sale as long as they pay the break fee for the PM contract you signed……
SuperAndrew, there are a number of apps out there though keep in mind the decision maker is the managing agent in most instances….eg you wont be able to get landlords to push their agents into using a specific app that you’ve developed.
Hi from an aussie located in NY.
We own our own apartment here in NY but have investment properties in Sydney. The biggest misunderstanding I have found from Australians about the USA after living here for 10 years is that there are 100 major cities here in the USA….not just 2 eg Syd/Mel.
This means people move around a lot for work AND there are a lot of choices about where to live which keeps capital prices down.
Don’t get me wrong my part of Brooklyn has gone up 10.2% for the last 5 years (and 7.6% over the past 30)…..so there are parts of the USA growth seems to be in abundance. But understand the real issue with Sydney/Melbourne driving up rents/purchase prices is people refuse to live in Nowra.
Just a thought from a total novice about my own personal perspective……
Cheers,
DeanLive in America :)
We locked in 4% for 30 years……..
