Forum Replies Created
Hi John,
Thanks for the reply,I think it could be the cheapest way to get something CF+ straight away, particulaly in regional cities, what were the problems you had with Tilt? from the sound of it no great cost savings.
Regards,Garry
[cap]garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableHi Toad
One option is to fix interest rate for as long a period as possible normally 5 years, you play a slight premium but if the investment still works you have 5 years peace of mind.
Unfortunatly still remember rates of 17/18 %
Regards
garrytasgarry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableTip:
Remember there is no cooling off period in Tasmania, its cool enough at the moment.Do hotter States have longer cooling off periods?
Thought,
What is the return on investment when the investment is nil? (property bought, then renovated, then revalued then,100% refinanced.)
Tip:
A verbal contract is not worth the paper it`s printed on.garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableThe only problem with a flat fee is that it is generally lower than the average rate, which means that the salesman needs to sell more properties to get an income, so the pressure is on for the quick deal, usually the lowest price is the quickest deal.What you should be paying for is the salesmans negotiating skills in obtaining the best price for your property.So ask around for recommendations.
Good luck Garrygarry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableIMHO I would get the house revalued and try and release the security of your PPOR it is always better if poss to keep your own home as unencumbered as possible.The rent appears to be on the low side, how does it compare to other properties in the area?
garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableI think it always pays to keep properties in good order the tenants always seem to take better care of better maintained properties. Remember too if its maintenance its tax deductable.
garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableA rule of thumb I use in small business is if the rent is in excess of 10% of turnover it`s probably not viable.
garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableBefore you select your agent for the sale of your property ask them how they came up with their values. It is very easy to pull a high figure out of the air to get a listing, ask to see the sale prices of similer properties in your area. This information they have access to, but a lot of agents are too lazy to do the work.Remember asking prices are not neccesary selling prices!
If you get an unconditional contract ask, for an extended settlement say 90/120 days to give you time to find another property.garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableNext step would be to go and speak to your lender, then a finance broker to establish what they would lend, given a proposed purchase and the equity in your house,If the purchase is positive you have enough equity then it will cost nothing out of income.
garry@sushames.com Always have cashflow positive Tasmanian commercial properties
availableThere are still +cashflow properties available in
Tasmania, mainly commercial returning 7.5-8.5% net.and yes there is growth in Tasmania the median price for property in Devonport has increased an average 8.9% compound for the last 21 years. Happy HuntingAlways have cashflow positive Tasmanian commercial properties
availableIn reply to your posting,I have to admit bias as a real estate sales consultant operating out of Devonport, In Tasmania.In my opinion, The reason for the on going growth is that for the first time it is easy to access Tasmania, with 3 Car ferries operating out of Sydney and Melbourne and with Virgin and Jetstar operating discount air fares.we also had a period of stagnation for the years 1996-2001 and so the spectacular gains we have had in the past 2 are really only catchup to where they should have been.The population is now increasing after many years of negative growth.
