Forum Replies Created
Hi Jaineyb,
As an investor what you would hope to do it make the most efficient use of your capital.
You could perhaps achieve higher cashflow by leverageing into a large number higher yield properties.
However, if you could increase the yields on the properties that you are currently holding AND the properties are in growth areas then perhaps you could be content with that.
There are obviously more aggressive strategies available but don’t make a change for the sake of it. Small changes may help also such as adding another dwelling to these properties to increase yields (hard to comment further without more details)
In my personal opinion we are in a market where there is no need to rush about purchasing decisions as long as you have a plan of action then take your time and consider all your options.
Depending on what your goals are you could easily double your equity position over the next 5 years. Spend at least 3 months developing a plan and checking your assumption. Get orgainised and do it but don’t rush.
Believe it or not the opportunities that are right for you will be obvious when the turn up – if you are new to investing get some trusted advice before you sign on the dotted line but don’t forget the importance of feeling “right” about what you are doing.
perhaps some motivation around feb/march with the credit binge hang over that comes after the holidays
i would find the most commonly built style of home for that block size in your area and build the BEST variation of that design that you could find.
hi barts – I’m interested in any property in and around the water – pm me when you are ready to offer some property – Dr X knows her stuff re licencing so make sure you are comfortable with your business model.
portion of the pay tv should be tax deductible [blink] other professions do it – “research” ??
Hi ana – if you were in the state I would have suggested stuff like a rental open home and get feedback from the market that way – you can be very creative. There is no reason why someone could not do this on your behalf but when you ask perhaps you will here all the reason why they don’t do this (no! think positive).
I recently had a property of my own that I believed was worth quite a bit more than appraised by an agent. I set a figure and advertised it on the net. My new rent is $40 per week more than the agents appraised so it has to make you wonder – 180 rent assesment – tenant on 12 month fixed term lease for 220 per week .
As I don’ tmanage myself – now I will shift the day to day off to a property manager. You could perhaps try something like that.
Where is your target market and how would you reach them. Do the mines have accomodation officers – would a flyer in the closest and most popular pub be appropriate.
anyone know if the series is available on DVD?
Hopefully this is not old ground and is of some assistance to the newer people.
A positively cashflowed property is easier to find, and almost always involves a property built after 1987 so you can claim building depreciation. The use of a quantity surveyor is also required here.In NZ building depreciation is available regardless of the age of the building and starts new upon each purchase ie – the purchase price minus the land value is the new start number for building depreciation.
cheers
Where I am right now it is 40% site coverage but as you say every council is very very different. Give the planners a call – they may be very pleased to get a call before you send in the plan. Site coverage will be the tip of the iceberg – i know from previous post you have done some builds and will be used to the red tape. good luck – wish we could post photos her on this site would be good to see some of the members private projects.
hi phil – are you still investing there right now.?
Hi Luke,
Have to wish steve all the best and I will definitely buy a copy of the book next time I pass the mall.
When people have continued success you have got to tip your hat.
Hope you are doing well with your endevours also luke!
cheers
yes is a great idea and well worth the cost – I was at the accountant recently and they were saying that this is an area where alot of her aussie client are missing out on eg you can claim building depreciation here on the structure no mater what the age and it start again from the time of purchase eg purchase price minus land value is the new start value of the building write off – blows you away really- but carefull of clawback – got to pay it back when you sell – should be the same in OZ and this is something that people often forget about.
cheers
that is an interesting one and the first thing that springs to mind is whether the transaction is arms length. there may be a tricky way to structure it – lets hope an accountant forum member reads your post and can give some general advice.
In Melbourne Rental is about 3% in a lot of nice areas, so you are getting somewhere cheap to live.hi life x (or anyone else in melbourne) – genunie question –what type of areas (suburbs) i am trying to learn about the melbourne market – homes that are realistic drive to cbd – would you rent in if you were in had the choice.
cheers
if it really is going to be a long term rental the second hand or cheaper kitchen is the way to go – if you have time on your hands you can find a second hand kitchen for around $500
and get a tradies to spend a couple of days fitting the thingif selling get a new one – go the fanciest showroom in town – pick one out and source the material to build it elsewhere for about 40% of the price alot of the components all come from the same places.
if it really is going to be a long term rental the second hand or cheaper kitchen is the way to go – if you have time on your hands you can find a second hand kitchen for around $500
and get a tradies to spend a couple of days fitting the thingif selling get a new one – go the fanciest showroom in town – pick one out and source the material to build it elsewhere for about 40% of the price alot of the components all come from the same places.
will have to get through the secret this week – started that download a few times from the link on ss
what about book three-has it been printed yet ??
Great story Dr x _ it would be hard to find someone who believed in the product (your house) as much as you do! Perhaps this is why the results did not come through the agency.
There was an article in the paper here on Sunday regarding the fact that 90% of those that start in Real estate don’t last longer than 12 months as a sales agent in the industry. Not sure if that is the same in OZ.
The point of the artlcle was that there is a serious drought of experience in the industry and what we perceive as slackness and laziness is just plan lack of skill and experience – and hence lack of confidence in their own ability. Also a point in the article was that 30% of the agents make 70% of the sales and the average wage over here was only 34k (obviously skewed toward the 30% who are doing all the selling)
cheers
just looking at it on a simple level if you rent and own a property receiving an equal rent then those two sums cancel each other out…but now the entire interest portion of your repayments is tax deductible plus depreciation, plus all other costs. If you live in the house none of those costs – in your case tens of thousands are deductible – something to think about. although at a 2.7 % gross yield I don’t think you could justify a purchase unless you were confident of some growth or you were confident you had bought significantly enough under value that you could onsell for a profit.
