Forum Replies Created
you cant keep buyng -cf properties for growth and who can garantee the future growth as we are entering a new cycle. also as one has a defecit supporting growth properties one should balance the deficit by selecting to aquire +cf properties so one can again buy more -cf properties for more growth agree ?
sorry yack you wont get my business if your gonna charge 20k or 50%, but thanks anyway.
picses the areas are as important as the returns, in saying this i have located areas that show 10% gross, but this does not work for me. what im looking for is areas that show at least 10%+ net. as to the location well australia would be my first option with towns showing stable or increaseasing population. and am i serious well lets talk terms and conditions and i will tell you if im serious in employing a spotter.
yeah right
in the book ordinary millionaires a multi million started his empire buying house that nobody wamted to buy. they were in flood areas. i think for memory 15 yrs later est worth 9m. or maybe thats another guy
are you gonna buy it ?????????????????????????????????
could you tell me in your opinion which would be the best way of funding. 75% or 80% with howmuch LMI payable. best interest rates and no or cheap early repayment on or near completion.
thanksnot yet but been researching and found many good things though. Very hard to get +cf but on the other hand there is excellent development opportunities. In saying that total cost for project im looking at around 1.3m. as well as that some specs at forest gardens also look good, but i find the cost of building a little high compared to syd and bris. but the numbers are still ok compared to syd and bris and cairns is currently in a rising market after being flat for last 3 years where every where else was booming. lets hope the same in short term aih.
the freedomfinder
Not the best return,
if your funding 17k PA in three years is 51k out of pocket for a gain of 70k less 51k = 19k. If you sell you now you may break even. Another problem you have is that you relied on an advisor, I hope this person didnt sell you this property. My opinion is if it took 3 years to be up 19k on investment propery if this property didnt exist your 160k PPOR could have now been less than 109k.
We all make bad desicions and sometimes our pride can get in the way of logic.
Do your homework and imagine yourself in 3 years time going through all the options now looking back and hopefully saying to yourself “we did the right thing”.Regards the freedomfinder.
that is the best to do it terryw, It can help you duplicate quickly, and the bastar** sorry banks cannot really lower your equity position. What i mean is if you cross colateralise say more than one property how do you know the bank wont write a lower valuation, where as if you put up your own say 20% to avoid mortgage insurance and negotiate the best loan for the 80% then you know if banks are undervaluing if they ask you to pay LMI. In my opinion keeping all your properties with seperate securities and differnt lenders is definatly the way to go.
the freedomfinder
pensions from centrelink are indexed to inflation or cpi or something like that so it does go up automatically every year but what you need to look out for are the running costs like strata, council, laundry, meals, onsite manager, maitenance etc. Generally if a well run business the onsite manager can provide full figures so you can see your net amount. Also if your on a high income (paye) there can be a lot of depreciation like industrial kitchen, common areas, furniture and of course the builing depending on age of all. So you have a lot of homework to do.
good luck.the freedomfinder
it was also known as depression bay
bc,
if a building block is available today but wont be registered till 4-6 months and price = 165k which is paid after registration, and the cost to build something comparible to sales evidence = 125k then you have built your own package costing 290k + some interest payments, stamp duty(on land only) and legals,
this package will still cost under 300k today hypathetically but recent sales data shows sales of around say 350k+, then in my opinion you have created a wholesale product that the norm pay retail for, Hence you make your money before you begin. Where’s the market going to be in 1 month let alone 12 months who knows but by beating the market before you begin ensures a profitable start. If the market grows you can add to your instant equity, if it falls it MAY affect the retail purchaser who bought as a PPOR which in my opinion they will continue to live and enjoy their home. If the market did fall it would have to fall by more than 15% to break even, but really if the majority of homes are owner occupiers then prices would tend to stabilize as apposed to fall.
In my opinion if there where to be a fall it would hit (and already has) the unit investment market, that is that these are predominantly targeted to novice investors and most will sell their investment unit at a loss before they sell the family home.This is my opinion I welcome yours
Regards the freedomfinder
thanks simon, if you dont mind as ive been quoted some which appears to be quite high. my email is [email protected]. thanks again.
picses, in some situations it is predictable to see new house and land packages sold for a price, then doing some simple sums one can build similar at a discount, them refinance and presto insant equity which can be used to duplicate the process.
peterp thanks for info which is easy enough but to take the next step is not so easy in my opinion. would one need to travel to these little towns to inspect many houses and negotiate some deals which is o.k. but how does one handle the upcoming maintenance issues that relate to older properties being 1000,s of klm away. will some of these costs eat in to the projected cf+ and perhaps make them cf-. i suppose thats the risks. i think i just need to bite the bullet and give it a go ah.
are there a good supply of builders there for these new blocks and where could i get more info about these blocks as to location to amenaties and services.
yeah thanks westan ive sent you me email adress and lookin forward to some info. any what your story westan
rrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrichmond
well what nz like.
well i have researched and located a couple but i just need more areas to research as those that i have found are x housing commission with some properties being trashed and squatted. any ideas ?
