Forum Replies Created
Good on you, Property Jim
Is there any particular reason you are looking at buying in Parramatta? More than likely the property will be negatively geared. You can look at some cashflow positive or neutral property in some strong regional town for lower investment.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi Ben,
I think you need to make a decision based on your life goals, your career goals, your investing goals, your education and your experience. I know of REA who are really successful andy et others seem to be struggling.
You can probably find more information on careers in real estate at http://www.reiq.com.au.
Regards“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi eliz30,
You can also have a look at http://www.positiverealestate.com.au
They are buyers advocate and offer cashflow positive or positively geared properties.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
You need to be aware of the rules and regulations. If I understand correctly you need a real estate license to operate the business.
More information is available from http://www.rebaa.com.au (Real Estate Buyers Agents Association of Australia).“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Try Dysart, Moranbah and Blackwater in Queensland.
All are mining towns but are returning around 8-9% rental returns.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi,
You can get more information on buyers agents at the following website (Real Estate Buyers Agents Association of Australia)
http://www.rebaa.com.au/Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi Juliana,
You can get some information on Frankston from the following post
https://www.propertyinvesting.com/forum/topic/26604.html?SearchTerms=frankston,anyone
If you search the forum you may be able to find some more posts.
From what I know of Franskton, you will find it extremely difficult to find a cashflow positive or neutral property. However, the area seems to be generating good demand and therefore capital growth is not out of question. Properties with subdivision potential are definitely in demand.
I agree with Marc on investing in serviced apartments. On the surface the deals look good but you really need to consider all costs and also consider the low(er) capital growth.
Hope this helps and good luck with property investing.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi Anzac15,
My suggestions:
1. Keep the property in QLD. It was your PPOR earlier and you moved to Melbourne only 2 years back. You could keep that property as PPOR for another 4 years and therefore be exempt from CGT on it. You should look at ways of turning the out of pocket $200 p/m payment into cashflow neutral or positive situation. Make sure the rent you are getting is at market level, look at adding some value (through minor renovations) and increasing the rent, etc.
2. Sell the house in Melbourne. That way you clear the risk of cross-collateralising your father’s property. You mentioned the travel time for your husband. Look for a rental property that suits your husband’s work. You also mentioned you will make $20-30k by selling the house in Melbourne. You could put the profit from sale (after sales expenses, etc.) into your Qld property loan and that will help eliminate part of the $200 p/m dent.
3. Do a part time job to help improve your immediate cashflow situation.
Hope this helps and good luck.“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi Ana,
Kit homes offer you the quick turnaround time. I think its a very good option in areas that are experiencing great rental demands (due to new mines opening up, etc.) and the new housing is not able to cope with the demand. I know people are putting kit homes or removal homes in towns like Maryborough, QLD on large, sub-dividable blocks.
I have not done a deal myself but did little bit of research earlier and came across the following website
http://www.drakehomes.com.au/removal/stock.htm
These guys are based in SE Qld.
You need to be careful of the transportation cost when buying removal houses.
Hope this helps and let us know how you go with your deal.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi crusaider,
How old is the property and what kind of rent are you getting for it?“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi Julie,
My accountant (Nancy Keep, http://www.nancykeep.com.au) has helped me setup companies and HDTs. She is a property investor herself and should be able to help you.
You can contact her and mention my name.
Regards
Sanjiv Gupta
**************“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
I think there are still a number of desperate sellers. I am buying a property at around 21% under valuation. As a buyer, I think its a good time to be in the market. That said, some indicators are showing signs of recovery.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
hi eforce,
You should have a look at the following website because you are a foregn investor:
http://www.firb.gov.au/content/faq.asp
Regards
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Thanks raddles and Terry,
Should I setup new trust using the existing trustee company or setup a new trust with a new trustee company?“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
I hope you recover soon, Jaffasoft.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi daz61,
I won’t go to the extent of saying companies like cashflowcapital.com.au are for lazy investors. I think it is a great service for investors who do not have much time to spend looking for investments. You need to use OPT, that is, Other People’s Time. You need to build a team of professionals around yourself to meet your investment goals. I have personally not used their service but have spoken to Spiro (the owner). He said the same thing – $500 to join and 2% of purchase price (less $500 joining fees) and they will find the property for you and guide you to settlement
I have used http://www.positiverealestate.com.au for few deals and they are great.
Regards
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
G’day daz61,
Can you please provide the website address?“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi audiocorgan,
You don’t have to sign the contract if you believe the terms/conditions on your offer are not met. In this case it is quite clear the terms are not met.
You should probably pull out of the deal because if the vendor accepted your offer within 2 hours, you have probably offered too much anyways.
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi stu_macca,
Definitely, Interest Only is the way to go. It doesn’t stop you from making excess repayments (if you wish to) but doesn’t force you to make Principal repayments.
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
Hi eforce,
Overall Melbourne market is on the up again but some suburbs seem to be outperforming others.
You mentioned houses at Flinder Street, Cook Point and Truganina.
Houses in Point Cook should be good for LONG TERM holding. At the moment there is lot of supply of house and land in and around Melbourne’s western suburbs and therefore the prices have not increased a lot. Point Cook is only about 25 minutes drive to CBD.
I do not know a lot about Truganina but the comment above should apply to it as well. I am not too sure of the rental demand in these areas.
The apartment in Flinders St should be okay but make sure its not small because the lenders do not like small apartments too much. Ideally have a 2BR apartment atleast. Is this a serviced apartment as well? Is it off the plan? The rental demand in city has picked up a lot and therefore the returns are better of late.
Why don’t you consider buying in and around Frankston or the suburbs around Eastlink. I think they will experience further capital growth. In fact there are many opportunities in Fraknston where you can subdivide the property.
Lastly, but more importantly, you need to decide your property investing GOALS and investment STRATEGY. You can then decide whether a serviced apartment or a suburban house is the best way to go.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.†– Nelson Mandela
