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I'm also not an expert on Japanese real estate, but from my research, some of the property prices seem very steep (even in comparison to Aussie property prices!
(and the low yields and lack of growth is a concern)Yeah, especially beginners should be wary of self-proclaimed experts.
I agree that there are some out there that genuinely want to helpl, and they can give good advice.
But be wary when you're expected to pay large fees.When depending on an expert, do some background research – especially check whether the expert actually practices what they preach in terms of their own investments and their approach!
hmm.. i haven't invested in car parks myself.. but i've read some books that have touted the benefits of car park investing.
Well done at least for wanting to get a head start in investing.
(Just remember that you're bound to make some mistakes for your first rounds of investing) You'll learn as you go along.Hey Elle and others,
I'd agree that first and foremost, you should speak to a CPA – that's what I do for my tax issues. And when it comes to international tax issues, accountants can be well worth it!
Yes, there is the tax treaty between the US and Australia so you should not be taxed twice!
Hey Anthony,
Great post! I especially liked your comment about point 1). Many people do stop themselves short of property investing because of poor beliefs such as the misconception about debt, and a lack of understanding between the difference of good and bad debt!I believe education is a major remedy to fear and risk.
That's an interesting question – and I'd be keen to find out the answer too.
From my understanding, Australia and US have a tax agreement in which you will have to be taxed in either US or AUS, but not both simultaneously for the same particular income.
I think you'd have to pay the tax in either of the countries. Although, I'd advise you check with your accountant.
I'd suggest Sydney suburbs that are out west. Recently went to a property investing conference, and they were pointing out a number of suburbs in Sydney's west where you could invest with a $400K budget only.
I've read Rich Dad Poor Dad, and books on the Cash Flow Quadrant. I even played the Cash Flow games that he has out.
I agree that often he does lack the nuts and bolts in his material. He has a more conceptual view of things. Some of his material ha sbeen inspirational – but then it can be difficult to know what to do next after you have been "inspired"
I haven't read any books about investing in New Zealand.
For investing in the USA, I like Eldred's real estate investing books. It's highly recommended in Amazon with alot of positive reviews.
I think investing in the USA can be alot cheaper, especially with the strong AUD currency in comparison to the USD.
Properties in the UK, however, may be a little pricier. I'm curious what other's thoughts are on this as well though
hmmm.. yeah I've read some real estate investing books myself, and some have mentioned tax liens in the USA. It seemed very interesting, but I was totally clueless about what to do next. I think the difficult thing is that we're based in Australia – and I think it's important to go to USA to check it out for actually doing it.
Wow nice thai property. I love thailand, and am wondering about investing property there as an Aussie. Is it possible to invest property in Thailand? If so, how would one go about starting to do that? Do I need to invest with a Thai person? I prefer to invest on my own (without a Thai person), if thats possible…
I'n my opinion, it's best to be critical of all the media hype you read about. Use your own judgment and your own set of criteria when determining how good or bad a market really is. Also, consider learning investing strategies that can make you money in both up times and down times – that's how you can make money confidently in any situation.
Hi,
I was reading some intersting info today about the drop in Melbourne housing proces. While the median house and unit price is still in the 400-500k mark, it's been found that the median price of a house in regional Victoria is 310,000, which is close to your budget!See here for proof of the house price drops:
http://www.bigpondmoney.com.au/melbourne-median-house-price-dropsI agree that you should be clear about your conditions. I think once you have experience with contracts and setting and negotiating conditions, then you probably won't need a lawyer. When you're starting off though, it would be wise to get legal advise. That's my opinion.
Hey. I haven't dealt with APD myself, but from my experience with other similar companies, I'd suggest that you do your background research first. Understand their vested interests and where they make their money from. Also try and get references of past clients. Then you'll make a more informed decision
Yeah, looking interstate (outside of NSW) may be complicated if you’re based there. If I were you, I’d invest in Western Sydney where you can find properties under 300k
Personally, I don’t like investing in rural areas. But it may be different for you.
As they said above, check the vacancy rates first.If you can’t find a good rural property with low vacancy rates, then just keep saving for now so you can get a better property in the future
Personally, I wouldn’t get into the business (because of the long working hours, and I just dont have the passion for it myself)
It may be different for you though. Stevedebba’s comments are really interesting, and an innovative fish n chips shop that offers a healthy option may get more customers as people get more healthconscious.
In my view, I’d rather go with Subway, or some other franchise, because the business system already works and they support you (even if you don’t have the experience)
Yeah it’s important to have good property managers, and to let go of them fast if they’re not performing!
Recheck the terms of your contract – make sure you you check the clauses regarding “termination.”
Here’s some more info to help you out: http://yourokcpropertymanager.com/how-to-fire-your-property-manager
