Forum Replies Created
Thanks Kylie,
That was a great post, sounds like structure and enterty wise things are similar to NZ, but possibly from an asset protection point of view rather then tainting? And its good to know you can still buy well in a rising market!
If you don't mind me asking where are you based?
Regards
Sam.
Hi Richard,
Things must be done a little differently over here. In NZ a registered valuation is what the bank uses to finance the property against, you get your own valuation done then take it to the bank. In Aus does the bank have there own independent valuer?
The reason I would like to touch base with a valuer is more to do with doing due diligence in a specific area or suburb and to get an idea as to the best way to go about adding value in that area, ie subdivide, strater title, minor dwelling, building underneath, straight Reno, etc. Its More about market research than a particular property at this stage.
Cheers
Thanks guys,
I had sort of resigned to the fact that buy and hold was to be the way forward in the Australian market. In the past in NZ it has been common to turn a net profit of 30k on a 300k property by buying well and doing cosmetic make overs then using this as deposit money for buy and hold rentals. The other thing to consider i guess is if you manage to flip 5 properties in a year as opposed to holding them after Reno you would probably get even more out of them by way of capital gain as long as they are purchased in the right locations.
