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i am also looking for one
I read in property magazine a website that provides it for free, but lost that link
anyone good in Perth that is reasonable as well ??
Cheers
Jeff
i surely would pick your strategy over nigels .. though as i said both could work, ive seen people invest both ways and be sucessful
i suppose this can work depending on what sort of property you pick as well and other factors
If i was to buy my first house and its equity increased to a reasonable level , i could either sell that property and upsize to a bigger property with that equity or then sell with less capital gains due to 2+ years and buy a bigger property
You dont always have to rent to make moneya nd increase your net worth.. though its an option that might suit some !!
cheers
jf
My tips here are not specific .. but would help
Get a property that is cheap or a bargain, you will already have a head start.
It should have growth potential
It should have good rental returns
If it has capacity to increase value with a renovation..its even better
Do the maths on your repayments and make sure you can easily afford the repayments or then any shortfall from rent earnings.
If you are going to rent it out work out your out of pocket expense and what you will get back from 1 tax return, what you save in your 1st tax return can be ploughed in into the bank account to take care of property shortfall for future years and increase equity to borrow further
Thats all
Good luck
Here are some statistics on this subur
Mirrabooka(6061)
Distance from Perth CBD: 11km (6.7 miles)
Other suburbs with same post code: Balga, Nollamara, Westminster
Total of population in this suburb in year 2011 : 7,933 people
Median age persons in 2011 was: 30 years old
Most of people in Mirrabooka were born in Australia
Median individual income in 2011 was: $399 per week
Median family income was: $1,108 per week
Median house price (2010): $349,500b
from http://myboot.com.au/6061/Mirrabooka/suburb.aspx
crime statistics
http://myboot.com.au/6061/Mirrabooka/graphic-chart/western-australia-crime-statistic.aspx
Hey thanks derek
for those helpful links
as you pointed out Duplex, Villa, Town House is at 45 which certainly implies some potential
cheers
Thats interesting .. but then so was ( and so is ) the next suburb balga, but i know if i had invested there maybe a year or two ago or a little earlier even i could make more than 10 to 20 % in growth wiht a good pick..
I know a friend who is almost cash flow positive with a investment in balga .. with it being the same kinda investment
That surely a plus point in its favour,
wish i had the spare cash
I dont like the idea of high management fees and also no property appreciation due to its location ..so it s looking even less attractive to me now
I suppose if i had lots of cash to spare then i would look at it just to diversify the portfolio
Your mentioned growth drivers sure sounds good .. for perth
Looks like we are doing much better than some of the other states in australia for sure .
Now i could only wish the prices of Meals in restaurants and general cost of living come down as well with population growth
Thats just wrong !!
seems pretty unfair to me and possibly illegal as well in that respect
you can always do a unofficial property valuation yourself , just to give you an idea only
I did this looking at real estate .com, Domain and other property websites and was bang on on what i could expect from the sale of my property ..in contradiction to what My real estate agent tried o convince me which was much lower sale price ( possibly due to a quick sale which she wanted).
im pretty pissed off (deleted …..) comments taken back
Think my sig is now showing
They have taken into account the number os houses sold and the median value within those kms to project the most affordable houses , That is what i understand from the chart they provided ..I will see if i can send you the pdf file
data is looking good according to this rp data press release
Does Robert kiyosaki know about the Australian market ?
i just finished reading his book Rich dad ..poor dad ..Loved it !! but i would be taking his australian market advice with a pinch of salt !!Majority of the views expressed over here are pretty pessimistic and i can see the reasons why which make sense, but sometimes the battle is won by the person who sees things differently. I am not saying i am that person.
But what makes me think the property valuations can rise and the sector will pick up is a couple of simple factors like
Increase in population due to increase in migrant intake will always result in shortage of houses and accommodation
Construction Industry not getting proper financial support due to strict lending by banks to the construction industry ( resulting in less projects finishing on due dates and taking longer , with also projects not getting off the ground)
Pricing for houses fairly low comparatively with a year ago with rents going up, bringing that price to sweet point for investors and a sour point for First home owners who would rather buy now ..giving the market some push
The unemployment rate is really down
think ..think…..
Hey thanks derek for the info
I was considering a house in Bunbury over one in perth northern suburbs mainly due to the budget , while i do believe that a 2 to 3 bedroom property anywhere upto 10 km from perth cbd has good rent potential , at the same time with strict lending criteria its easier to get a property at much lower price in bunbury with as good rent potential and future growth in bunbury.
Hard choice to make given you can afford 10 km from city (approx $400,000) or in bunbury ( anywhere between $300,000 to 400,000)
Regards
jeffmike h wrote:3. Your deductions will be limited to the amount of any foreign income (ie – I don’t believe you can negatively gear foreign investments ?)Thats abummer if its true .it .makes investing in US less attractive
..but isuppose the less investing amounts needed over there for aussies sorta make up for itThank god there is no double taxation “You will receive a tax offset in your Australian tax return for any tax paid in the US”
im jealous but at the same time suprised as well..good on ya mate ..good job .. keep up the good and hard work … and you wont have to do the hard work after a while .. retire when you want too really .. they way you are going
Remember Money can be a bad thing too ( The Rinehart case is a good example right now) … Remember to enjoy life an not let it go past you. You only live once
