Forum Replies Created
Brisbane 04
The problem is that people from all over the world are investing in Buffalo and near by areas not just a few aussies and the hype is the high returns, how much research did you do yourself? or did you just talk to people who talk about the high returns. I could be wrong but did you spend a fews days there resently with a group? if so you would have also visited another area in the USA that I have done heaps of research on.
The problem is that the world is a lot smaller these days due to how easy it is to research areas and I feel that property investing is going to be as risky as shares in the near future due to the fact that so many people follow trends, so there for you will have blue chip propertys and you will have property that are as risky as .com shares.
Don’t get me wrong a lot of people will make a lot of money out of up state new york , I just peronally feel that it is not for me.There are so many blue chip property that are under valued in the USA , it just takes a bit of research.
Me and you have spoke on the phone a few times and also meet up , I would like to talk to you again to hear your veiws on what your saw on your trip just out of interest.Kind regards Rick
Monopoly, my favourite game
Yes exactly,
look what has happened, over priced propertys in Aus NZ and little one horse towns all over the place pulling astronomical prices for property. Just waiting for a correction in the market and people will be losing all that they have because of poor investments.Propertys that are just holding it together finacially because they are slightly +cash flow. But when a correction in the market comes and it will come its just a matter when , you will see property investors fleaing from the market and markets will crash particually bad in theses places leaving genuine home owners devisated as they watch there life savings dissapear before there eyes, as to property investors that don’t know what they are doing.Buy good solid investments in good under valued areas with strong ecconomics , not cheap propertys in shakey neighbour hoods or one horse towns. What sort of investment would that be.
Monopoly, my favourite game
I agree with Nigel,
If prices only move becauce of investors this can be a bad thing if the propertys are not good solid investments.Kind regards Rick
Monopoly, my favourite game
Yes it will be looked at as 50/50 deal so you will be looking at paying tax on the profit of that property you sell.
Will you pay capital gains tax?
That depends on how long you have had the property since it has been developed, you may have to pay normal tax rates if the property you sell has not been retented out. If this sounds a little confuseing give me a call on 0408 355 568 and I will let you know what happened to me in a simular situation.Kind regards Rick
Monopoly, my favourite game
Cap rate is % after all expences (it does not include if you borrowed money).
Gross % return is how much before expences (it does not includes borrowed money or expences).Simply
Cap rate is % after expences.
Gross yeild is % before expences.Monopoly, my favourite game
Brisbane 04
Are you over there with Weston at the moment? I bumped into while in Texas .No I didnt go to buffalo and rochester not my cup of tea, but Texas I loved the place , I will be active in this area for the next few years.
Kind regards Rick
Monopoly, my favourite game
I will be there just let me know were and when.
Cheers Rick
Monopoly, my favourite game
Hi Tony
No I was lucky missed all the bad weather , but I loved the place and can’t wait to go back.
Hi John
I am interested in playing the game , I have my own 101 game but have still never played it .
Kind regards Rick
Monopoly, my favourite game
Good to see , I love the game . Now I just do it with the real thing.
Cheers Rick
Monopoly, my favourite game
Hi ,
I have just been over there and if you want to have a talk about the market you can give me a call on 03 93183856 or 0408355568.If noone answers leave a message and I will get back to you .
Kind Regards Rick
Monopoly, my favourite game
Pete I’m in texas looking at + cash flow propertys with capital gains at the moment and it looks like a good place to invest I will be investing here. I looked into Buffalo and Rocchester but was not impressed. Good cash flow but big problems. I’m sure that everone has different thought.
Kind regards Rick
Monopoly, my favourite game
Monopoly man
You can use your equity for both the propertys without take any money out of your first deal so long as the same lender is used.
I would suggest Darwin property if your looking for + geared property , there are still some around and at the momment the market is realy moving up in value. 17% in past 12 months. Affordabilty is still quite high. Perth is still moveing not as fast and affordabilty for locals is just about out of legs , I would say that it is about to slow down.Just my 2 bob kind regards Rick
Monopoly, my favourite game
Blogs, I agree 100% , but i’m now looking at the USA market and there are deals around in good areas with +cashflow and i would say some growth as well over time.
Thanks for your commentsMonopoly, my favourite game
If you look hard enough in darwin you can find 11 second solutions and there has been good capital growth there in the last 2 years about 17% each year , also affordability is high at the moment around 50% thats almost double sydneys at the moment . Only my thoughts.But make sure your insured for cyclones .
Cheers Rick
Monopoly, my favourite game
I often Drive past the first place that I reovated and also lived in for a couple of years. It amazes me how bad condition it was in when I bought it . Almost ready for the bull dozer , now it looks like it has another life.
Excelent storyCheers Rick
Monopoly, my favourite game
Would like to hear any comments people that are reading have
Cheers Rick
Monopoly, my favourite game
Bloggs
Don’t worrie about an inspector until after you have finished because there is not much you can do until then anyway . You can give the report to the builder but weather he does anything or not , how are you going to argue the point until the job is finished anyway. The builders have good mouths they can tell you anything . I hired a builder to build 5 units , and the job was shocking . So then I got an inspector in volved and ended up geting conpansated from his insurance company . Remember they have to give you 7 year warranty.
Cheers Rick
Monopoly, my favourite game
I bought land there 2 years ago and owner built my house that I now live in. I think that it is very good buying , I belive in a couple of years when it is fully developed with all the restarunts, cafes and everthing in its place the true value will come out. I am just about to sell my place to move my money into essendon , but only because thats were I want to settle.
Cheers Rick
Monopoly, my favourite game
I think that major citys will not see prises move much .Up down or sideways over the next ten years , of coarse there will always be pockets of real estate that will move due to trends or infrastructure.
However in 10 to 15 years I think that there will be massive movement in the market .
Only my opinion.Cheers Rick
Monopoly, my favourite game
I looked into industrial building or develpoeing and there is better gains in it .
A friend of mine has been doing it for a couple of years he got into it by accident . He built a fatory for his bisiness and realised how much money he made and kept going. The market is hot at the moment it is always one step behind res.
But remember the profits are higher genarally speaking but the risk is higher to.
Risk verses reward.
I would be doing it by now but my focus has changed at the moment .Cheers Rick
Monopoly, my favourite game
