Forum Replies Created
Hi, finding a mentor is very simple. Also have you asked the person selling the materials second hand why they are selling them??
Fundamentally there are only three basic investment choices 1.Stock Market 2. Cash 3. Property. Everything else comes under those headings. The money only ever moves around those three things. Its a controlled environment and dont think its the natural forces that decide which way things go. They guys at the top move money around and hence move markets around at their will and to further increase their positions. Its naive to think anything else.
That's not to say the layman cant make money, he can but recognise where the markets are at at any given time – same as the previous post and only ever act upon hard fact, not opinion and you'll clearly see where things are at.
Yes banks are holding back – deliberately for construction finance, means shortage of new dwellings, still more people arriving in to country, rents increasing supports this. All this can be proven to exist.
Everyone has their preferences of investment, choose one and be expert in it.
Where do you live now?
Why do you feel the need to use a buyers agent?
Go and find a good (recommended by someone you trust) Financial Planner. Time is not on your side and you need solid advice.
He wasn't talking about an old property he was talking about house and land for 700K brand new in Sydney.
Sure you can do the renovate route but what if he's not up to that personally, not everyone is good with a hammer! Buying and holding cheaper IP's is far less risky and if holding and using equity no agents fees.
Horses for courses.
Yield in sydney at the moment can definetly be good, its easy to find 6%+ no problems
I see! What sort of property? new/old /apartment/house and land??
What are the yields like down there at the moment? (i'm in sydney)
What I meant was purchase price without costs. So just the price you paid or are intending to pay regardless of stamp duty etc.
What state are you buying in?
Wow! Great Prop Manager you had there! No wonder your changing.
You probably need to read your agency agreement that YOU had with your exisitng PM first (not the tenant lease). Sometimes agents will put a clause in there that says they have up to 90 days to hand over a file once you say you want to change property managers. This really just makes them another 3 months of management fees and gives them a chance to get you to stay. I've seen this and its really poor form from a property manager. So if its in there I suspect your stuck with them to the expiry date. If it isnt you have every right as far as I know to rock up to their office and request the file OR your new PM can do that if your a bit uncomfortabloe about it.
I'm with the previous guy, dont go the big house to start out, especially with interest rates coming back up. It would be potentially some time before you can qualify for an IP. Better to go for cheaper IP now and keep doing that, build a portfolio then go the house you really want.
Its amazing how things change, my parents were always told buy a home and pay off the mortgage, dont pay rent. But my thinking is its much faster to rent for a while and accrue IP's then get a home of your own. You can still rent the lifestyle you want now. No shame in that!!
Hi, I know for myself to calculate a "gross yield" just the weekly rental multiplied by 52 and divided into the price.
In todays market anything under 5% doesn't really cut it for me and beware the rental guarantee!! I.e. If its such a good area and property wy does the rent need to be subsidized?? Dont think your not paying for that in the purchase price!!
