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Klah
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@klah
Join Date: 2010
Post Count: 40
January 9, 2011 - 1:55 pm
larrytheinvestor wrote:
Can i ask what sort of properties do you go for? Do you aim to purchase cashflow positive properties or do you aim to renovate the property to make it cahsflow positive or do you just aim to fix it up and sell it for profit using rent to lessen the amount you have to pay on the loan?
Work with your strenghts. I am terrible at renovating so I don't go there at ALL, plus in most cases you end up spending more than you initially budgeted for. My strenghts are negotiating so I generally look for bargains and desperate sellers with a good rental return.
Klah
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@klah
Join Date: 2010
Post Count: 40
January 9, 2011 - 1:50 pm
Wattoette, sorry to hear about the insurance deal, I am sure there is a more reputable providers out there. It might even be worth starting a thread on this topic for others.
Yes I am aware that property doesn't always double every ten years, it is a rule of thumb (so the professionals say). As i have learnt from the past don't rely on others people advice (or your own in some cases). I have found that experience is an expensive teacher bu that doesn't mean you quit learning.
Klah
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@klah
Join Date: 2010
Post Count: 40
January 9, 2011 - 1:06 am
http://www.news.com.au/money/property/top-traps-for-first-time-property-investors/story-e6frfmd0-1225935970519 Here is a great link that is worth reading. Hope this helps.
Klah
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@klah
Join Date: 2010
Post Count: 40
January 7, 2011 - 5:05 am
Jonesi274 wrote:
You'll have to excuse me for butting in as a newbie and still saving for my first property but wasn't the whole point of McKnight's book regarding negative gearing that you will never achieve a good income from it because you have to make a loss (large) to gain a tax advantage (small) so therefore there is an absolute limit on the amount of properties you can own before you have to make personal financial cuts regardless of how much money you and your partner earn?? If you earn that much buy silver and dump the remainder into term deposits at 6+% per annum. The net present value and opportunity cost of your on-going loss making strategy would outweigh any future accrued benefit although obviously I don't have any figures so take that as you may. Any loss to save on your tax bracket woudl have to be substantial and a loss is a loss (ie all negative).
If you want to gain financial freedom and why wait 10-15 years??!!?? (ie no job/retire) then it is a loss making strategy.
Personally I believe it to be a manipulative government rort which distorts the market, why can't I negatively gear my small business for example and reduce my personal income by the loss I make each year as an ABN holder? It is also the reason as McKnight says in his book that of all the so called investors less than (10%?? don't have 0-130 at hand) own more than 3 properties.
I agree. Even though you will get a better tax return, it still is unlikely to cover expenses. So if you are only banking on CG then think, if property doubles in price approximately every 10 yrs then if interest rates are around 10% then your profit is wiped out in interest. Plus as a bonus you have put yourself out of pocket each week covering expenses.
I still recommend looking for properties that MAKE money. It does take time but if you know how to look you'll find them.
Klah
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@klah
Join Date: 2010
Post Count: 40
January 6, 2011 - 4:57 am
Do want to make money out of real estate? You also need to consider if one of you lose your job, can you still afford a negitively geared property? Just a thought.
Klah
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@klah
Join Date: 2010
Post Count: 40
January 4, 2011 - 12:02 am
You need to go to their website first then select your country (it's near the top). You will then see the screen they use in the videos. Just enter the types of properties you want to search for into the search bar and click search. If you want to be specific you will have to watch the search tips videos. It easy!
All the properties must come from one website because I haven't found any double ups so you shouldn't have to go searching around different sites. So all you have to do is analyse the property (use my tip from previous reply).
Klah
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@klah
Join Date: 2010
Post Count: 40
January 3, 2011 - 12:02 pm
If you want to find investment deals for free check out these videos on youtube http://www.youtube.com/philspropertydeals. It shows you how to find them for FREE so you won't have to pay a monthly fee. You can crunch numbers when you check out the property at realestate.com.au as they have recent sales at the bottom of listing, it's provided free by rpdata. Hope this helps and saves you some money.
Klah
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@klah
Join Date: 2010
Post Count: 40
December 31, 2010 - 7:22 am
myrpdata gives you one off reports, they charge you for each report. Good if you're only dabling in investing.
Rpdata charges a monthly fee and gives unlimited reports. Good for real estate agents or full-on investors.
Why not check out Pdslive? It is cheaper & does the exact same thing!
Klah
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@klah
Join Date: 2010
Post Count: 40
December 22, 2010 - 12:15 am
Why not look at Rent/Lease to Own? It will mean that you won't have to muck around with banks and potentially open up more opportunity to purchase more properties.
Klah
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@klah
Join Date: 2010
Post Count: 40
November 24, 2010 - 8:22 am
You can find good rental returns in Queensland here at http://philspropertydeals.com/category/queensland and for Vicortia check out http://philspropertydeals.com/category/victoria.
You should still get future captial growth in these areas also. Just make sure you do your do diligence.
Hope you find a great deal.
Klah
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@klah
Join Date: 2010
Post Count: 40
November 21, 2010 - 7:30 am
Check out this weeks Courier Mail (20/11/2010) it has a suburb performance rate for the last two years!
Klah
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@klah
Join Date: 2010
Post Count: 40
October 26, 2010 - 6:14 am
aussiecam wrote:
As soon as I saw the page in Steve's book that said effectively the way to CF+ve earnings is to find properties yielding in excess of 10%, I thought, "OHHHHHH OK, that's what I have been missing, the key to wealth generation is spotting non-existent undervalued asset opportunities". I am a believer in efficient markets. Rental yields are at historical lows (hello, anyone hear of the property boom???), because interest rates are low and capital gains are taxed concessionally. Having done a quick scoot around the market even country properties sub $150k are yielding 6% max. So in answer to the question "where do you find such properties" I would answer – "you don't – the yields have been traded down." Steve's book may have been relevant when he started writing it, but I doubt it's relevance now. I wonder how many 10% yielding properties has HE bought in the last 12 months? Sorry to sound like a cynic, but I am happy to be proven wrong. Anyone???
Unfortunately I missed out on this one http://philspropertydeals.com/cashflow-property-10-roi-forbes-nsw. It had a 10% ROI. I am waiting for the next one! 10% ROI is rare and 6% is more common but you just need to know how to find them. If you find out just let me know!
Klah
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@klah
Join Date: 2010
Post Count: 40
October 19, 2010 - 11:13 am
Jamie M wrote:
Hi Kaylah
You could try and create one – look for something that could do with some cosmetic renos that will lead to increased rent.
Cheers
Jamie
Unfortunately I am not that handy, but I could make some superficial changes. Thanks for the tip.
Klah
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@klah
Join Date: 2010
Post Count: 40
October 17, 2010 - 7:25 am
Nigel Kibel wrote:
Sure if you are in Brisbane you can come along to a free two day investment seminar
Sounds great, what are the details?
Klah
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@klah
Join Date: 2010
Post Count: 40
October 17, 2010 - 7:16 am
Charles 1 wrote:
Careful buying CF+ve now that interest rates are rising. Many suggest they will go up another 2 per cent in the next few years – that kills your positive cash flow and you end up with minimal growth
But if i bought for other reasons wouldn't I lose even more money when interest rates go up? What do you recommend I do?
Klah
Member
@klah
Join Date: 2010
Post Count: 40
October 17, 2010 - 7:12 am
Nigel Kibel wrote:
http://www.cashflowcapital.com,.au
Thanks, checked it out, I noticed they charge you to look at the addresses $660 & when you buy they charge you 2.5% of the purchase price in fees, is that right? Anything free out there?