Forum Replies Created
Hi Danis11
Without knowing your full situation, I would decide what you want out of property investing first (your end goal).
Then I would read as much as you can on this forum, ask questions ect, then come up with a plan that will get you to your end goal and strategies that you feel comfortable using along the way.This is what I wish I did more when I started out, I lacked a bit of direction several years ago lol
http://www.ato.gov.au/corporate/content.aspx?doc=/content/86191.htm
Here is a link straight off the ATO website it basically says what catalyst said however I like to source anything tax related off the ATO website as it gets updated regularly and it has examples as well.
Hi Edmund st,
it depends what your after, but if your looking for cash-flow its no good so I assume you are looking for growth which I think you will see little in the near future as Melbourne as a whole hasnt been booming, auction clearance rates have been flat and in a slow decline, average days on market have increased over the last 12 months and private treaty discounts are also up in the last 12 months slightly (reference Australian property monitors) these are negative signs in a market if you are after growth.
There is no opportunity to value add to off the plan stuff as its new also its very difficult to get new properties under market value as there is a developers premium so they wont budge much on price.
Without knowing more info and your situation, I would pass on it myself.
main reasons being Negative cash-flow and negative growth potential in the short to medium term in summary it has the potential to be a burden on you.Anything that damages consumer/ investor confidence in this country is not a good thing I guess, I personally believe the media makes it out to be a bigger issue for Australia than it really is, that aside I will continue to buy investment properties if the numbers stack up but my focus is firmly on cash pos property and sub-consciously I am watching my cash-flow much more than I was a year ago.
https://www.mypropertytracker.com.au/ I am going to take the trial for this online one it looks pretty slick
I started blogging be careful it can be addictive lol
Mine covers residental property investing (no surprises there lol) I started mine because I need an outlet and a place to share ideas and Im on long service leave
happy investing
I mountain bike ride and enjoy running and keeping fit I also read a lot, I day dream about not working for some one else
I just sent you one back
Hi sgoodes, I would avoid clarendon vale some parts are ok it can vary street to street, Risdon vale and Rokeby are a bit better I think,
I own a place in Rokeby and some other low socio economic areas around hobart, if you are looking for cash-pos stuff its easy to find in these places
you can private msg me if you want to chat or ask any questions about hobart ectI would steer clear of it if you are having dramas getting finance, think about down the track when you resell at a later date, your pool of potential buyers will be small due to people having trouble getting finance for these types of deals and lending critera could change too a better idea ive seen done is buying larger studios 45sqm plus n converting them into 1 bedroom apartments.
Hi Wendy,
Im living in Hobart as well, from the figures you have given us assuming a 10% deposit was used you would be Negatively geared, therefore you must have a capital gain potential to offset the cash-flow loss or its a loss making venture and I research the market down here a lot and I think the there is a better chance of property going down than up atm in Hobart.
in reference to what Kristin said the reason vacancy rates have been going up is people who had their houses on the market for 100 days plus are taking them off the market and renting them out instead hence why the vacancy rate is going up.
if you are looking for cash positive stuff then it xmas down here alot of stuff here in the outer suburbs is cash pos I picked up a 10.4% rental yield no reno nothing, so its great in that regards, but for growth I would look towards other capital cities I like Brisbane at the moment its quite affordable, there has been a change in the state government which is good for that state, Auction clearance rate have been rising over the last 12 months
one could argue that a business owner is carrying all the risks of the business they are in why shouldnt they be rewarded for that?, compared to the employees they are exploiting who show up each day and trade their time for money.
True socialism works perfectly lol until the money runs out
I have access to rp professional NSW only and its rare not to have a sale price but I found one today listed the sale no price not sure how they do it
I meant telling you something
Maybe the market is telling you some ?
You might need to look at plan b an rent it out if it’s not alreadyHi Waydo to answer your question,
yes the reno kings course helped me from making a few common mistakes early on in renovating so yes there course definately saved more than the cost, I did it in 2008 off the top of my head I think it as $1800 for a couple to go I have done 4 renos since all were profitable (some more than others)
I also brought the Complete reno system by Dean & Louise parker which I think is fantastic, alot of people talk about renovations like its a black art and that they have the secret, it isnt and its not worth 4k,
I went to a reno kings seminar it was much cheaper than Cherie barbers, but I think "the complete reno system" is great and again much cheaper it has spread sheets and templates and costings for there projects they have done in the dvd set, Im just saying shop around other people are offering the same info for less
I brought a town house in 2007 and the only thing it has done is gone down in value
in the lastest API magazine the Brisbane auction clearence rates is up 10% more than a year ago
There is a mining boom going on in QLD there is plenty of affordable housing there, rental yields are good (some people say this can be a precurser to capital growth)also there was a alot of flood relief money going to be spent, that would have to be a positive effect
plus interest rate cuts, it cant be to far off one would think
I find it alarming that a potential tenant would say this, it could be because they have been black listed on a tenancy database,
I agree with the others go the property managment route,
however if you are keen on self management I would at the least get a leasing agreement with a local agency as they can then vet the person then they hand everything over to you (as aposed to a management agreement where they continue to manage)
