Forum Replies Created
I'm a structural engineer and that is the absolute minimum i would charge. that would get you a beam size, columns, pad footing and basic connection details.
Anything fancy like cranks in the beam or special connections etc and I would def. be charging more.
question: is there an architect involved that will provide the engineer with the information, loading conditions, span length etc?
I assume you know for sure the wall is load bearing/Good topic JacM,
I'm currently looking at purchasing in a 'dodgy' area to get a few properties that are cash flow positive from the get go, so I will be following this thread with interest.The rich countries have the high income, thus low property price to income ratio. The countries up the top have a lot of people who don’t work at all, thus no earnings, thus a high property price to income ratio. Sure, our prices might be higher, but we earn more so should be able to afford more. There are still plenty of affordable properties in Australia, the problem is people are to fussy and think they deserve the best without having to work for it!
there are plenty of companies that will buy you property mate, they are probably a lot better at finding high growth property than us beginers. the average fee was about 10k which includes helping you set up your finance structure, get loans etc then review your portfolio each year or two to see if you can buy another one. they do not sell property, they are purely buyers advocates that you pay a fee to find you a property.
some of the ones i researched are capital 360, property planning australia and alliance corp. they all seem fine if you dont have any time to research properties and on average, i think the houses/units they find would return more than most mum and dad investors. that being said, you need to make an extra 10k just to cover their fee.
it depends if you enjoy property. they do also educate you, so that you can start out on your own once if you so desire.In the end it's up to you, i would recommend these guys if your time poor and cash rich, however if you have lots of time and are interested in property, there is no reason why you cant find properties yourself.
I think you will find groups like property planning australia will help you with finance and structuring as well for no fee as they are acting like a broker, so the bank pays them commision for approved loans.
Good luck mate, it's a good plan, Just make sure u can service the loans.. . if you catch the property bug and want to buy more houses more often, growth properties are harder to do so, as they are generally negatively geared thus sucking up your income, which means you can borrow less….banks also only take into account 75% of rental income when calculating how big a loan they will give you as well..
I'm only new to all of this, however if you were to buy 4 of the units that would give you control of the body corporate which would allow you to win the votes to do up the exterior of the units, with the other 2 owners forced to chip in 1/3 of the costs. sure, you would only profit from 4 of the units, but the banks would be much more likely to let you buy 2 each than 3 each….
i'm with duckster mate….consult a property advocate and get some profesional advice…well worth the fee as they will do the investigation for you….you may be able to do it on your own but if you stuff up the first one, you could be set back 5 years. if you get it right you could be ahead of the game and looking at retiring in 10 years….
were about to buy our first IP and wouldnt dream of doing it any other way….
