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Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 9:21 am
The question that you are asking is basicaly for people to do the resarch for you!
YOU NEED TO DO THE RESEARCH OR AT LEAST HAVE A REASON OF WHY YOU ARE LOOKING AT THAT PARTICULAR AREA TO START WITH!
[angry2]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 9:17 am
I totaly agrre with the The Motgage Advisor.
Because i live in Sydney as well if i even purchased a house 60km out of centre i wouldn’t be able to invest anymore becuase you will be strepped as more than 90% of people!
To be a successful property investor you need to go out of your comfort zone in order to make a big leap and reward as oposed to doing the same
thing the rest of people do.
They buy property and sit on it and wit until it appreciates! Good Luck to those people.
All of my properties i bought interstate, some just but looking at the pics as numbers and everything else made sense. I always do my research!
YOUR GREATEST EXPENSE IN LIFE IS THE MONEY YOU DO NOT MAKE
Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 9:03 am
To say market is booming ! or starting to boom becasue banks are lending money to people more than before has nothing to do or very little to fact that market indeed is booming or recovering.
To give you abit of indsight
Sydney is falt with only few pockets increasing in price.
Qld is flat as it can be.
Sa i firmly holding and few areas are showing increasing growth
Perth is slowly picking up.
YOUR GRETEST ASSET IS THE INFORMATION IN YOUR HEAD AND THE AGE OF THAT INFORMATION!
[biggrin]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 9:00 am
Hi,
Near costal areas of adelaide that have not too many units being developed is a good starting point.
Espacially if you buy near the suburbs that are well known and expensive.
It just depends on what your plan is. Investment future paln.
Rememebr
If you Plan to Fail you Fail to Plan.
Cheers,
[biggrin]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 8:55 am
Hi,
One thing you should stay clear of is area where they have alot of units and more are getting build.
the reasons:
1. You unit will not appreciate as there is oversupply in short period of time
2. You will have difficulties increasing rents and having high occupancy rate as a result of oversupply and tenants having the power to choose and negotiate.
3. Bank hate borrowing money when you say anything like i’m buying a unit where there are alot of others being available and being developed.
Stay out of areas like these. That is not to say that you should never purchase a unit but just to warn you of the traps people make when they see 6% yield or higher!
Good luck and let us know how you are going!
[biggrin]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 8:48 am
Never buy in area that:
Is flood prone.
Has 500 people and population is decreasing!
Don’t buy just becuse you found +Ve property without doing all the research on that area first as it could be disasterous!
and remember:
A winner knows when to quit and walk away. A winner must know that losing is part of winning if you do get into the mess!
[biggrin]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 8:34 am
Hi,
There are definately few areas that will be increasing in price in not too distand future…
If you read the SEQ Draft you will have a fair idea of what is going to happen and what areas will benefit as a result more that the others.
Ipswich it’s a good start but areas that are close to the coast would be most favourable.
If you want to head more inland then look at areas that are near established towns that have good hisotry etc.
Goo Luck…
ULTIMATELY IT IS WHAT YOU DO WITH WHAT YOU KNOW THAT COUNTS.
[biggrin]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 8:24 am
Yes it is great time to buy in most of the states but i’m not too sure about Tasmania.
You can find much better properties and higher appreciation in SA, QLD and WA at the moment.
Market is flat in most of the QLD and WA where SA is holding pretty well in most of the parts.
Make sure you have a investment plan of where you want to be and how do you want to achieve it by property investing.
You can have positively geared properties as well as one negatively geraed for e.g block of land that after you done your research it indicates that prices will appreciate and land value will increase.
Therefore you can subdivide the lot and make quite abit of money.
It all depends on your strateg… none of the techniques are bad as long you do you research…
Remember: IF YOU FAIL TO PLAN YOU PLAN TO FAIL
YOUR GREATEST ASSET IS THE INFORMATION IN YOUR HEAD AND THE AGE OF YOUR INFORMATION
[biggrin]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
May 23, 2005 - 8:12 am
That is true. Whenever you say about investing or try saying that you are thinking of buying interstate in other people eyes it is seen as you are crasy, you just want to make money and don’t care about anything else etc.
My advice to you is to gather people in your cicrce that think like you or are at least open to new ideas and are willing to listen.
It is not easy to find someone that wants the same goals but one way is through the website as we are doing now and other is form groups and meet with the people.
Don’t let anybody steer you away to what you are trying to do because it is absolutely right thing you are doing.
Trying to be a successful property investor and enoy every bit of it!
Good luck!
[biggrin]
Future is determined by what you do today and not tomorrow.
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
January 23, 2004 - 3:59 am
Hi andrew,
If you look in older pages in the forums you will find out that this questions has been posted already and there a few pages on it.
However they do exist and i just aquired 4 of them.
I’m in a process purchasing 6 more but i ran out of depoist so i’ve got to find a way around to make it happen.
There is a top on all the stories of members who and how much they purchased their properties for.
Just go to older pages and scroll until you find the topic that says something abut positive chasflow stories or similar.
Hope this gives you a bit more hope on finding your +pve properties.
[:p[]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
January 23, 2004 - 3:54 am
Hi to All,
I think that purchasing a property that is 110K and rent is $ 200 is not a bad deal but keep in mind that you are waitning for property appreciates in value (hoping) and if that is why you would purchase negatively or neutrally geared property that for me would be risky.
As we all know we can only guess and get roughly close to how much property will appreciate in value but if it stays stagnant for fe years or barely going up in value then you got yourself not making any money from day one.
Isn’t this what we all want people “Work less and receive more money” not the other way around Work more and receive less.
I wold rather buy property that is in more rural than central area as even thoug hyou are taking higher reisk with due diligence chacks you can quite easily make much more money in value going up in those areas as well pay them off quicker as you borrow less and of cource meaning could borrow more in much less time from the banks.
Cheers all,[:o)]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
December 29, 2003 - 7:11 am
Thanks Melbear for the Info and Julian for the information.
Julian i’m wondering do you know of any realestate websites that you can use to search for NZ properties either commercial or residential?
Are there any good forums from NZ locals?
Thanks once again for the information.[]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 29, 2003 - 7:01 am
Thanks Jim,
My problem is the deposit. And that is why i’m considering IO over IP becaue if i want to purchase 30 houses in 4 months i will run out of money very quickly! Im’ just planning to do that at the moment so i don’t get stuck and have to refinance and pay exits fees etc…
I wonder how Steve Mcknight done it as buy and Hold strategy at first and he purchased so many with little or no deposit!
[?][]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 6:37 am
Quote:
I would like to take a look at the properties that you have found? I’m happy to pay as fee as long as i can know abit more (Purchase price, yield, rent etc)
My email is [email protected]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 6:00 am
Wow .. I’m happy to see that people are still finding PGP (Positively Geared Properties) and are closer and closer slowly but surely to their GOAL !
December 2003
Bought 4 properties (2 maisonettes)
1 for $ 127,500 rent $260 other $ 84,500 $ 220 rent.
Strategy Buy and Hold altough might change in the future.
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 5:32 am
Hi all,
I’m just wondering can you claim Land tax in you tax return as an investment/business expense?
It might be a dumb questions but i would like to know.
[:X]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 5:28 am
Hi to All,
You can claim most of the things just keep your receipts and if unaware you can always ask people at the forum and buy a Taxpayers book for 2003 2004 where all the laws and regulations are there regarding the tax return…
[]
Michael4
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@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 5:22 am
Hi Ashley,
There is always time to research for properties out there. Search using http://www.domain.com.au, http://www.realestate.com.au for property listings for a start.
Before you conentrate on purchasing a property Have a Plan FIRST! You can get in deep TROUBLE if you are going just by luck. Make sure you got the plan first and then you can be more confortable and when emotions struck you can always relate to the plan and your ultimate goal!
MERRY CHRISTMAS AND HAPPY NEW YEAR!
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 5:15 am
Hi,
I’m wondering do you know of any websites that particularly search for properties in tasmania like realestate.com or something similar?
I would like to know how much properties are in general and see if there is anything available!
Thanks…
[]
Michael4
Member
@michael4
Join Date: 2003
Post Count: 70
December 24, 2003 - 5:08 am
Hi,
Land tax is calculated on each individual property. If you bought a double-unit or maisonnete under 1 title then you would pay land tax for one. However if it is under two or more names then you would pay land tax for each.
Land tax varies from state to state so make sure you know how much land tax you would need to pay.
Good source is to but Taxpayers Book 2003/2004 as it has all the laws and regulations for each state.[]