I suggest anyone interested in US property should read:The Great Depression Ahead – Harry S Dent (2009)He makes many good points about the past, current and future real estate prospects in the US.I'm reading it right now and I can't put it down!- Steve

Hmmmm.Seems like there are many choices.Melton should hold up well given the price of property and that there are so many 1st homebuyers.With that in mind though, if you buy new and sell in 1 yrs time then you will be selling to 1st homebuyers, and therefore competing against spec builders. And that's my fear, there is a chance that spec buyers…[Read more]

Hi,Interesting post… street appeal is something that you should consider, as the property needs to be appealing to the next purchaser to command a great price.I would have though you would want to make the view a centerpiece to the living area, and that the house design should fold around it.All the best,- Steve

Hi,Can you give me a link to the webpage you are looking at?Thanks,- Steve

Hi,For residential property, 7%+ would be a good result in metro areas.For commercial property, 10%+ would be a superior return.I recommend buying the following book:"The Property Professors Top Australian Suburbs" – Peter KoulizosAll the best,- Steve

Hi,If you are looking to buy for market-based growth (that is , buy something and 'park' it as a rental while waiting for general capital appreciation), I'd agree that holding off is smart. This is because the market is likely to drift or retreat rather than rise in the near term.  The price to jump in is once prices begin to correct.However, if…[Read more]

Hi Dave,Not sure about specific answers to your questions as I am not an area expert in Queenstown, NZ.Some general thoughts though…1. Do some research online about what is available for rent in the area and also prices. See how much is available now and how much is available in the next 2 – 6 weeks. Lots of property available now speaks to…[Read more]

Hi,Thanks for your post and welcome to the community.To answer your questions:Option One1. we buy a 2bd unit for my parents and rent it out to them (they are all for the idea) and we move into their 3bd unit in bentleigh.This assumes that your parents will go for this and either gift you or lend you their equity. Is this a realistic financial…[Read more]

Hi,Welcome to the community.I'm not aware of a specific database that records this after the sale.If you are looking to buy foreclosed properties pre sale, then again I'm not aware of a specific service. Lenders have a duty to get the best possible price for sellers and although mortgagee auctions attract attention, lenders will go to auction…[Read more]

G'day Dave,Sounds like an interesting project.I'm not the reno guru by any means, but a couple of tips I have come to find true.1. Make sure you target your end reno product to the demographic who will buy it. For instance, a spraygun approach works if you want the walls and ceilings the same colour, but this is a basic finish for a budget…[Read more]

Hi,Thanks for your post and well done on embarking on your real estate investing career.Property developing sounds easy enough, yet there are many pitfalls. Still, the name of the game is to try and get as much information on the key unknowns.For example, you know what your purchase price will be, you can get a fixed price contract, but what sinks…[Read more]

Hi,I think I'd budget in $1,400 (GST inc) per square meter.I would have thought you'd get change out of that if it was an M class slab and a basic finish.Building cost is working out to be about $12,000 per square at the moment for basic construction.You may do a little better now as construction work starts to dry up at the sub contractor…[Read more]

Hi,One downside is liquidity. As you can see, with so many on the market it they may be hard to sell.Also, these kinds of investments are typically income rather than growth focussed. If the net yield (after management, interest and expenses) is negative, why own them?Perhaps if you could put in the details of one of the units we could flesh it out.Cheers,

See an experienced lawyer. People go into these things with the best of intentions, yet this soon falls apart when the deal changes or peoples circumstances shift.That's why it is important to consider the liquidity of the deal. For instance, what happens if someone gets divorced half way through the venture? Sounds extreme but it is the unknown…[Read more]

Yes, owner builders do qualify, see:http://www.sro.vic.gov.au/sro/SROWebSite.nsf/rebates_fhog.htm#4in the case of owner builders, commenced construction (laying of foundations) of a home on their land in Victoria. In respect to the timing of payment, see:http://www.sro.vic.gov.au/sro/SROWebSite.nsf/rebates_fhog.htm#11payment will be made to your…[Read more]

Yes, this used to be a problem. Some time ago when I did the research either the entity had to be set up, or there had to be the intention that the entity would be set up.I have a feeling now, that at least in Vic, so long as there is no financial gain in the nomination, it is not too much of an issue.  Not sure about other states though.In any e…[Read more]

Thanks for the question.The short answer is… 'yes', as interest rates come down, the conditions for a revival in the property market become more present.This is simply because people can buy more house for less money, and the difference between what it costs to rent and own decreases.Add to this the government's stimulus package for first home…[Read more]

There are definitely benefits of further education, and both the CA and CPA programs offer the opportunity to sharpen your accounting skills.I'm a CA, and even though I don't work in the industry as such any more, the ability to think through a financial issue in a logical and probelm solving manner is of great help.Gaining a professional…[Read more]

Hi Howardcm,Thanks for making your post.I'm not a great fan of doing a value add project on a unit in a complex, as external visual appeal contributes significantly to the emotion of the target buyer.For instance, if you reno the villa then you are probably adding value to the unrenovated ones as much as your own, as you increase their quality by…[Read more]

Great tip, thanks Luigi.Have you considered carpet? Or perhaps putting a floating foor on top of the old boards?Cheers,