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Thanks for the information Michael. I will be giving your Sydney office a call soon to arrange a meeting.
Regards
Richard Farmilo
Hi Michael
Thanks for you comments. I also have heard Michael speak and have read his books (not yet to speak directly to him though), and was impressed with what I see.
I beleive he knows the Melbourne market there and has his main office there as well as in SE Qld, but I'm looking to purchase in Sydney, I know he also has offices here. I'm not sure if he uses his own staff here or if he has other agents he sort of contracts out to?
Any comments on his Sydney operation would be greatly appreciated.
Regards
Richard
I only know about Property Secrets through hearing them at a seminar last month.
Basically their strategy is to buy properties for less than $250K in western Sydney which can be multiplied through subdivision or development of duplexes etc. They don't believe in buying apartments or properties with very little land which cannot be multiplied.
Not too sure on their fees, but think it is something like $5000 to purchase you a property.
Personally their strategy doesn't suit mine, so I'm steering clear of them.
Richard
Our plans for the year:
Currently selling a prime location house in hornsby for a large, quick profit. Then buying a larger family home to move into (out of our 2 bed unit). The unit is going up for rent (there is a long waiting list of people after 2 bed units in hornsby). Later in the year, depending on finances will either sell the unit (most units around here are selling for the asking prices within a few days of being on the market) and buy another IP closer to the city (maybe Erskineville) or use a line of credit to buy new property.
Good times ahead for property investing if you can pick your spots wisely.
Richard
Hunter’s Hill ……………. starting price for a fibro shack …… $1m. Very nice area!!! Not a bad place to inherit a property.
My property there is in Woy Woy. Prices around that area at the moment make it really good to buy. Especially on the water. With the new ferries and trains to the Central Coast, a lot of Sydney people are moving there and commuting to Sydney to work. Anything there (I will repeat …… especially on the water) will do well. Probably stay away from the top end of the coast (Wyong etc.) and go for the end closest to Sydney.
And why do you think Riverstone will have good growth?
Good luck.
Richard
No one has any thoughts???
Oh well.
House is generally safer due to the demand for land. this will drive the price higher eventually. This is also what drives the huge unit development market at the moment – lack of land means you need to build up – hence the unit explosion. This is leading to an oversupply of units in many areas throughout Sydney, therefore, keeping the prices down (or at least preventing them from rising). This is all due to the scarcity rule.
Hope this helps.
Richard
Hi Supagirl.
Very broad question you have asked there. Probably the reason why no one has responded to you yet. You need to give more information, and do some more of your own research first.
* What suburb is the property in?
* 1/2/3 bedroom???
* What are other prices in the area doing?
* Are you looking to renovate and resell for a profit?
* Are you looking to rent it out for rental income? (most likley not if you are going to be owner/occupier)
* Are you relying on growth in the area for your investment return?Give some more details, then people may be able to help you. But to me, it looks like this is not an investment property, rather a home to live in.
Good luck.
Richard
