Great place, I'd recommend avoiding the Sunday crowed!

I'll try and join one of the meetings on return from traveling in march…if they are still going

Cheers,
Miike

Hi aaabbbccc,

This is an excellent initiative.

I would like to participate in a social gathering to have a discussion about investment.

Unfortunately, I am not going to be in Melbourne until March….going traveling.

Can you PM me with your email and I'll see if thins will be an ongoing or another meeting in March.

Cheers,
Miike

Hi Guys,

Honestly, looking for hot spots will just confuse you and make you chase your tail.

Yes, hot spots can be found, but generally by the time they have been declared a hot spot, so many investors are snatching up property that it causes false momentum in the suburb, that cannot be sustained which causes the value of the property to remain dormant or devalues in the short term.

Instead, try specializing in a few suburbs of interest that you find is generally a stable area (i.e. very minimal drop in price when hit by GFC or a downturn, etc).

Some questions you should ask yourself and know is:
– What do buyers want in the area
– What renovation changes give you the best return, i.e. more bang for you buck
– Which changes can give the best returns in the area, i.e. structural vs cosmetic
– Which streets return better prices than other streets. i.e. too close to shops will not return a value as great as it has issues with cars parking there often. i.e around 50mitres down one street may return better value.
– What changes are occurring in the area. i.e. shopping centers, big chain companies (i.e. gyms).
– Are there any new infrastructure being built and is the council investing in maintenance of the suburb.

As you can tell, knowing these things will provide you with the greatest power when purchasing a property for renovation, as they will determine the success, and not relying on a shit talker to tell you that a suburb is a hot spot.

You really need to know your shit so you can dilligently know that an individual property is a great deal or not.

Remember, that the way of making a larger profit  in property is buying at the right price!

…don't take my word for anything, I am not a financial advisor!
…do some research and learn as much as you can before you make investment decisions, they can cost you years of urnings if not done right!

Have a big 2010!

Cheers,
Miike

There are plenty of different structures available.

Either way, when you transfer land/property from the name of a person into another company or person. You are affectively changing ownership of the title, thus stamp duty will apply.

Please seek further information from a licensed professional that specializes in this. http://www.chan-naylor.com.au may be a good place to start.

Cheers,
Michael

The best thing you can do is work out your budget and stick to it as everyone is telling you….

I recommend also having a test budget to see if you can stick to it with a mortgage and make sure you are not going to be in trouble later on…assuming your wanting to buy a property

Cheers,
Miike

Honda Integra VTI-R 98SE

Has a hatchback, but looks like a coupe, good for stuffing shit into it during renovations, has done me well….dreaming of an upgrade to an SR5 with all the extra's …Maybe another property or two and I'll invest in myself lol!!!

…miike

Easy things:
– Bed, Lounge, Hallways – Repaint, Polish floors (pending floor type) and new curtains.
– Redo cupboards with new flooring and paint if needed

Hard things (non-cheap):
Kitchen – Cheap Cab's, new benchtop (stone or laminex, pending your target and goal), new flooring, splashbacks
bathroom – new cupboard and basin, clean and possibly replace old tiling, new flooring,

Cheers,
Miike

Hi,

Check this thread…

https://www.propertyinvesting.com/forums/property-investing/help-needed/4328089?highlight=%22aussie+rob%22

Cheers,
Miike