Hey Banker,Agree that the market may go sideways or down during a reno job. My aim for a reno would be that there was enough fat in the deal to be profitable in a flat market, and if the market goes up, even better! You have to buy a real bargain for it to be financially viable. But better to buy very well than be hoping to recoup stamp duty and…[Read more]

Hi Jeff,I haven't done Dean and Elise's whole day, but have heard them both speak several times on renovation.If it is a proven system with heaps of practical tips and real life recent examples including numbers, costs and pictures you are after, this is the one.Pretty good value at the price, I'm sure you'll find.You could pay with 10 yrs to…[Read more]

I have found that for properties with the same strategy (eg cashflow positive), the same trust is good for at least a few. (Ask your accountant  how many it is useful to put together. Maybe $1mill or $2 mill max per trust?)If you want to use a different strategy, it may be worth considering  setting up another strategy.quickchick 

Your REA may recommend they do it themselves, but many vendors wouldn't want the hassle.Or want to pay, or wait to get it through council before they can settle on  a sale.So prove him wrong! We're on your side!quickchick

Partly agree with Scott.You need to be able to buy at a discount (eg they need urgent sale, or so ugly no-one else wants to buy it. Or, you know the agent well, they know exactly what you're looking for, and so call you before it even hits the market.)But if you're investing in Melbourne for example, stamp duty is more expensive.You need to find…[Read more]

Expect to pay around $1000 for set up. And same each yr, fees due. but worth it if you're about to buy property in it. Only takes a week or so to set up.And you don't have to keep anyone happy! We're all here to learn.quickchick

But a good question nevertheless.Accountant is the one to do it.   

Auctions sometimes don't give much room to negotiate terms, they set them and that's that.You can use a deposit bond for deposit, takes maybe 5 days to organise thru your bank. (If negotiations with agent not successful.) Will cost you several hundred dollars, but if not successful you can use it as a deposit on another property. On the other…[Read more]

We did a project near home (SW Sydney), bought ugly decorated house for bargain in 2003.Did nearly all work ourselves (ie asaved $$ but spent our time). Back on market in 3 months. Made profit $60K.Not sure if it would work in today's market.If you really are keen in this strategy, I strongly suggest you check out Dean and Elise Parker (via this…[Read more]

I perceive that Carly is offering people the opportunity to learn her system of options, then find some options to sell to her company.Not sure about Rick Otton.I suggest you try reading Steve McKnight's newest book. If you find its the sort of help you are looking for, then join his mentoring programme. It is the most comprehensive education an…[Read more]

You'll probably find a bank won't finance a 1 bed unit,. especially if the total area is less than 50 sq m. If you don't need bank finance by some good fortune, still your selling prospects will be limited for same reason.2 beds or more far more viable.Do some armchair research (internet) into different areas. Use APi magazine (any newsagent) for…[Read more]

I agree with Scott no mates.Also, check council zoning. Your shops may not be allowed to spill on to residentially zoned land. Changing zoning will take a long time, may not be successful, and will be a headache.The question of how to get him to sell is a bit tricky… being a free country, he doesn't have to! Best incentive is to pay full as…[Read more]

Hi BP,How will you know when you find the property you are looking for? ie, what is your goal and strategy in property investing. Worst thing to do is buy a property, then try to figure how to make it work for you.eg Do you have extra income that you want to use to pay for the basic costs of your IP? What if your needs change, do you still want…[Read more]

Have just seen this post now.It will be my 3rd Mega Conference in a row, too. I am sure there will be a degree of selling, but you don't have to buy. There will be so much to learn there ie in the 3 days, that everyone will benefit.I am from Sydney too, find it worth the journey and accomodation.In 2003 I went to the Gold Coast to hear Robert…[Read more]

Sorry Richard, I misunderstood you. Thought you meant 10% private investor or 20% vendor finance, but you meant both.If Dave has servicability for his PPOR mortgage plus his new bank loan, which it sounds like he doesn't.Dave, the trade-off for a private investor usually would be that he provides much of the funding, while you contribute the time.…[Read more]

Hi Dave,I think that to attract a private investor to your project, you would have to have a track record of success.If your strategy is buy and hold, the capital gains may not be fast enough to pay the investor (at 15%pa I would expect) and still make a profit yourself. The private investor would want to know a timeframe of when he gets his funds…[Read more]

On a basic calculator, even the one on your mobile.purchase price % interest rateeg $350,000 x 7%=   $350,000 x .07=   $24,500.Unless you have a cash deposit to put in, in which case subtract deposit from purchase price, then x .07.I always figure that if my deposit is from a line of credit, equity in another property, etc, that I'm figur…[Read more]

Sounds great, Sasha!Sound like you are also investing the time to make sure things go ahead as planned. I'm realising more and more, the money is in the management. eg the time wasted if you're no actively moving it along adds to the cost of holding while it is negatively geared.Are you doing the same for The Tas prop subdivision?You can always…[Read more]

Hi Sean,- other costs, ie managing real estate agent, council rates, water rates.Get your solicitor/conveyancer to enquire about how much the Body Corp has in its account, what expenses it has paid in last 2 years.- "one bed studio" bit confusing… a studio usually means bed is in the only living room.  either way, under 50 m area, you may wel…[Read more]

Hi Financial freedom,Just done some numbers on the Liverpool flats as quoted above (and I know the area, rents maybe likely to go up I imagine?)52 weeks x $260pw = $13,520 rent income pa.(Deduct for strata fees, water, council, and maybe 7%  ie $946.40 pa, for management)$13520 pa rent divided by $220,000 purchase price gives 6.1% return less…[Read more]