Forum Replies Created
- Originally posted by Cata:
It sounds like a unit trust to me.
CATA
Asset Protection Specialist
[email protected]No I know its not a unit trust. I was explained some of the intricacies over lunch lasat week and it is much fancier than that.
Michael Yardney
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FREE subscription http://www.metropole.com.auOriginally posted by Wantok:Has anyone had dealings with LJ Hooker Property Source? They’re the investment arm of LJ Hooker and describe themselves as a comprehensive investment property resource.
I would be very interested to hear your views, good, bad or indifferent?
Regards,
Jack
A good buyer’s advocate has access to every property for sale through all agents.
Being an investment arm of a large agency just means they sell their properties and are paid by the vendor/developer.
Is that what you are looking for – a marketing company? or are you looking for assistance.
If you are looking for a good buyer’s advocate there are a few on this forum – they charge a fee but they are on YOUR side.
Michael Yardney
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FREE subscription http://www.metropole.com.auIts not just “fancy marketing” of something already available from other people is it Michael?
REDWING
I don’t know. I’m sure they are not the only smart accountants and as I said I have not read the trust deed
Michael Yardney
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The trust is specially usueful for proeprty investors with special provisions for land tax and distributing income even before the property is positively geared.
I haven’t seen a trust deed but it has QC approval as a legitimate tax effective document.
Michael Yardney
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FREE subscription http://www.metropole.com.auI agree with gavvic
We’re dealing with agents all day. They are basically selling (their) time – not properties.
They only have so many hours in a day. They will work on properties where they are reasonably assured a commision.
Have you considered that the reason that the property is not selling is not the agent, but the price?
At the right price, properties still sell quickly today.
Michael Yardney
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FREE subscription http://www.metropole.com.auOriginally posted by redwing:Just wondering if anyone on the Forums has used Ed Chans Property Investment Trust structure?
REDWING
“Money is a currency, like electricity and it requires momentum to make it Effective”
Count The Currency With This Online Positive Cashflow CalculatorI know Ed well and discussed this trust with him in detail last week.
It’s particularly useful for NSW property owners.
He has written an article about trusts which will be published in the November issue of my e-magazine coming out in a week or so.
Those who don’t get it regularly can subscribe at http://www.metropole.com.au
Michael Yardney
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FREE subscription http://www.metropole.com.auOriginally posted by batts71:G’day guys,
About to look for some IP’s along the GC – Brisbane corridor. Has anyone had any luck with RE agents in that particular area. I’ve just found it hard to locate RE agents that understand what investors are looking for.
Any tips greatly appreciated.
Regards,
Batts
Contact Barry Pickering from Onsite Direct. http://www.onsitedirect.net
He’s “investment savvy” and should be able to help you.
He’s a good friend and one of the honest agents who helped get rid of the 2 tier marketers.
Michael Yardney
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FREE subscription http://www.metropole.com.auOriginally posted by grossrealisation:hi all
MichaelYardney I sent you an email yesterday for those excels and thanks it was very interesting on tuesday.Hi
It was great to meet you on Tuesday in Sydney and put a face to the many names on this and “the other”forum.I didn’t receive your email – try again at [email protected]
Michael Yardney
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FREE subscription http://www.metropole.com.auThe estate agents won’t know, because its a pretty specialist market.
These clinics can do well, (I’ve built 2 years ago) but I’ve seen some stand vacant for a long time. The problem is the very small demographic of your potential tenant.
You would be best to find a tenant in advance and purpose build it.
It would be great if you could get an option on the site, the approach the local specialists and offer to pupose build something for them.
Michael Yardney
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FREE subscription http://www.metropole.com.auBased on our research, I feel the Melbourne proeprty market will reamin flat for another 18 months and then start picking up in 2007-8. The next peak could be anywhere between 2010 – 2016.
Michael Yardney
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FREE subscription http://www.metropole.com.auGlen Waverley is a great area for investment.
You should get good long term capital growth and you won’t have trouble finding a tenant.
Our agency (www.rentingmelbourne.com.au) manages about 50 properties in the Waverley area. They go like “hot cakes”
Now that you have chosen your area, you must make sure you choose the right parts of Glen Waverley – some areas ar better and get better growth than others and the right property (some are always more in demand).
Then do your research and ensure you buy below market value – there are some bargains there at present.
Michael Yardney
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FREE subscription http://www.metropole.com.auI agree with Nigel about Point Cook.
There are too many rental properties there and not enough tenants.
Remeber it is supply and demand that pushes up property values as well as rentals.
It’s no fun buying an ‘investment” and having it sit vacant for months because of lack of tenants.
It also really hurts your cash flow[angry2]What are you looking for in your investment and why have you selected those areas. If we understand this, maybe we can give you some further pointers.
Michael Yardney
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FREE subscription http://www.metropole.com.auLandlords don’t have to supply flyscreens, but they are “small minded” if they don’t.
You are more likley to leave when your lease expires and the vacancy will cost them more than the price of some flyscreens.
It will be an ongoing problem as future tenants will also have the same request.
We have never had maintanance problems with fly screens
Michael Yardney
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FREE subscription http://www.metropole.com.auIn England town houses were what the rich had in “town” so they could spend thime in the suburbs when not on their country estates.
In the 60’s there were
1. <b>houses</b>,
2. <b>flats </b>-dwellings in multi storey buildings usually rental rather that own your own and that’s where the poorer people lived
and
3. <b>villa units</b> – small usually single storey dwellings in groups on a large block of land often with owner occupiersOver time in Melbourne (at least) villa units got bigger and agents called them “town houses” because this sounds grander. Most but not all are not attached to adjoining dwellings
The nature of the titles has also changed, from company share to stratum to strata to plans of subdivision. Most town houses <b>do </b>share common land and have a body corporate, but because of their larger land component, they tend to behave like houses with regards to capital growth.
<b><font color=”navy”>Don’t dismiss them – they make great investments.</font></b>
Michael Yardney
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FREE subscription http://www.metropole.com.auI guess it depends on what you are looking for – if you are talking capital growth, then there are some suburbs that are still performing well and outperforming the averages.
Residex http://www.residex.com.au provide good reports at very fair prices.
and as you say http://www.reiv.com.au has graphs with price statistics for all suburbs.
Michael Yardney
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FREE subscription http://www.metropole.com.auYou will find that retirement is a concept of the poor and the working class.
The wealthy don’t retire…its nice going to work when you don’t have to.
Michael Yardney
METROPOLE PROPERTIES
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FREE subscription http://www.metropole.com.auWhen you look for a PM don’t go on fees. Recommendation is a great way to start.
If you wnat to know some questions to ask prospetive PM’s have a look at this report:
http://www.rentingmelbourne.com.au/html/s02_article/article_view.asp?art_id=109
Michael Yardney
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FREE subscription http://www.metropole.com.auOriginally posted by peter068:Hi to all those experience negotiators!!
We are interested in purchasing a unit in a new complex through an agent. The building is finished and of the 82 units/apartments, only 3 show sold. I know from experience that when we has asked agents in the past regarding pricing for off-the-plan units, we have been told that you cannot negotiate (am I naive?)can anyone advise that they have had success in negotiating for a new property in a unit complex. The complex is based at West Ryde.Looking forward to your responses!!
Still learning![ponder]
One of the quetsions I would ask myself is why are only 3 sold.
I would ahve expected a better reult.
Even if you negotaite hard now, will the builder be desparate in 6 months time and slash the prices devaluing your unit?
Also do you really wnat to buy in such a large project? It’s hard to create scarcity in such a complex and that’s hwat gives you increasing rentals and values.
Don’t jump in – look at this deal very very carefully. I gear some warning bells
Michael Yardney
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FREE subscription http://www.metropole.com.auLots of properties that were built in the past would not comply with planning and building regulations today.
If you wnat to build a second dwelling in the back yard, even if you don’t sub divide into 2 lots, both the old plus the new dwelling will have to comply with the planning regulations including carparking, open space, access etc hence the need for garages and driveways.
You do not need to subdivide into separate lots if you are keeping both, but it would be wise to do so, and you can do it after comletion of the project.It makes financing easier and gives you options for the future.
The costs of a 2 lot subdivion in Melbourne’s eastern suburbs should be less than $2,000 and a surveyor will do it all for you.
Michael Yardney
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FREE subscription http://www.metropole.com.auYou are correct that all offers should be submitted, but unfortunately some offers don’t get presented. Acouple of reasons why this could occur include:
1. You haven’t been dealing with the listinga agent. In most agencies he is the only one who speaks with the vendor and he would always prefer that his client’s offers get submitted becuas ehe gets a double commision.
2. If the agent knows you are an investor, he may prefer to sell the property to someone who will give him their house to sell – this means he gets a second commsion.
3. If the offer is “too low” the agent my not want to upst the vendor.
Michael Yardney
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Author of Australia’s leading property e-magazine.
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