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  • Profile photo of Tracey BTracey B
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    July 17, 2015 - 10:29 pm

    Thanks for this detailed explanation Terry. There was a similar post a few years ago which I found helpful at that time and again this is really clear. I always second guess myself having some of our properties owned in a company because be are trading. (The other long term holds are in trusts.)

    I like that when I stop working before an age when I can access super that I’ll be able to be paid franked dividends by our company, effectively getting back any tax that the company has paid on the way through :-)

    Terry are you able to provide info on whether a company owned property can be rolled into a SMSF when reaching that age?

    (Sorry Catts for adding another question into your original post)

    • This reply was modified 9 years, 4 months ago by Profile photo of Tracey B Tracey B.
    Profile photo of Tracey BTracey B
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    June 11, 2015 - 6:52 am

    Why do you want to change to a residential loan? We have a commercial loan with ANZ for our unit block (due to density even though they’re already strata-titled) but the interest rate/fees we are paying are comparable to a residential loan.

    As others have said – keep your end goal in sight and always check the total cost per annum for the loan as it’s not just about the interest rate.

    Profile photo of Tracey BTracey B
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    June 3, 2015 - 9:24 pm

    Well done Andrew. Always nice to collect those stamps from the council. I hope there’s not too many difficult conditions on the permit. :-)

    Profile photo of Tracey BTracey B
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    May 16, 2015 - 9:25 pm

    Very well done for taking control of your retirement now. Certainly sounds like you have a clear plan and are on your way.

    Must be something about the late 30’s as that’s also when we really got moving.

    I’d be interested to hear how it all goes for you.

    Cheers.

    Profile photo of Tracey BTracey B
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    May 11, 2015 - 10:06 pm

    If council permission/subdivision is not required and you just want to measure the power and divide the power bill according to usage there are metering devices which your electrician can fit for this purpose.

    Profile photo of Tracey BTracey B
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    May 11, 2015 - 10:03 pm

    I think there are better much better, lower risk options in Tassie getting those sort of yields and agree with your points in your follow up email.

    You mention the Asian tourists (I’m guessing seasonal workers) who are on a visa – up to 2 years and then they are required to return home unless they have a work sponsor. I don’t expect they’ll have a huge influence on our market….I could stand to be corrected.

    I agree with your suggestion of multiple profit options re the development potential in buying a house now that ticks the boxes for future development. Make sure the future development options are real and not just a maybe because maybes often don’t eventuate.

    Finally, I don’t really like the idea of being in a body corporate either however we do have some units where being in a group has actually reduced the costs of ownership so we get to keep more of the 8% gross yield than we would if it was a free-standing house.

    I’d be interested to know what you decide to do and why :-)

    Tracey

    Profile photo of Tracey BTracey B
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    May 11, 2015 - 1:32 pm

    Is it advertised as Sandy Bay or Dynnyrne?

    Profile photo of Tracey BTracey B
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    May 11, 2015 - 5:46 am

    Hi Solomon,

    Agree with JacM,yes, there’ll be both if you sell for a profit.

    T

    Profile photo of Tracey BTracey B
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    May 8, 2015 - 10:01 pm

    Hi Stephen,

    If there has been no interest maybe it’s not the marketing but the price. Whether it’s a good deal is not just about the yield. What have been comparable SALES in the area – same number of bedrooms, age, condition etc. etc. Is your price at, above, or below other properties that have been sold recently?

    I’m guessing it’s rented to Uni students and some investors like this while others don’t. If it’s a house are the appropriate council approvals in place for the individual tenancies ie. boarding house arrangements?

    Are there many properties on the market? Are the others selling? Is it difficult for the agent to get access to the property to show prospective purchasers?

    Sorry, so many questions but without further information it’s difficult to make useful suggestions.

    Tracey

    Profile photo of Tracey BTracey B
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    May 5, 2015 - 11:08 pm

    A property with multiple options to profit would be my preference.

    Is it possible that the one currently not zoned for development could be?

    Make sure you explore ALL options so you can be comfortable with your decision.

    Cheers,
    Tracey

    Profile photo of Tracey BTracey B
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    April 9, 2015 - 9:56 pm

    Hi Marcus

    I did the RESULTS program and am still using what I learnt regularly in our property investing activities. Check out my comments from this post in 2011 as they are still relevant https://www.propertyinvesting.com/topic/4403010-results-program-2/#comment-232241

    I know someone who did the Bob Anderson course and found it good although they haven’t actually used any of their learning.

    Cheers,
    Tracey

    Profile photo of Tracey BTracey B
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    April 8, 2015 - 7:22 am

    Hey Brian30

    I like your goals you set for yourself for 2013. How did you go achieving them?

    Cheers,
    Tracey

    Profile photo of Tracey BTracey B
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    February 4, 2015 - 11:14 am

    A starting point is one person provides the money and another person the time and then the profits are split 50/50. The assumptions in this are that the money partner has the cash but no time and a time partner has the expertise but not the cash.

    There are many, many variations on how JVs might work and it depends entirely on the skills and expectations of both parties. At the end of the day there needs to be a signed agreement, including what will happen if the returns aren’t as planned or even worse if a loss is incurred. That way if things turn ugly you have something to fall back on.

    You’ll need to find projects which provide a win/win outcome for everyone involved.

    Profile photo of Tracey BTracey B
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    February 4, 2015 - 7:22 am

    Hi Samantha

    If you’ve got the cash to go straight to commercial investment I say go for it. Make sure you surround yourself with the a team of people who have experience in the areas that you don’t. You don’t know what you don’t know when you’re starting out. (I joined a mentoring program just after I’d started investing and what I learnt has saved me many times the $ the program cost. If you go down this track make sure the mentoring program is independent.)

    I also agree with Wilko re storage facilities as the multiple tenants mitigates the risk of 100% vacancy, although in these you’ll most likely be paying the outgoings yourself. You’ll need to educate yourself on what makes a great storage facility before you start and you’ll have a sound investment. The only downside is that most banks will only do 50% LVR due to it’s single purpose use.

    Also, make sure you keep a cash reserve for when (not if) things don’t go quite to plan.

    Tracey

    Profile photo of Tracey BTracey B
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    October 28, 2014 - 10:33 pm

    Hi Hot Stuff,

    I can only agree with Benny. Some (many) Property Managers find it all too easy to ‘phone a friend’ at your cost, rather than working through the obvious first. At the end of the day it’s their job to manage your property properly, it’s your job to manage your property manager.

    If it makes you feel better we once replaced a hot water cylinder because of an incompetent property manager, checking the meter board for a new tenant (which was proactive) but they didn’t flick both switches for that unit. Their diagnosis was that the HWC must be buggered. The plumber just took their word for it and pulled it out. Ugh, go figure!!

    Good luck sorting them out!

    Tracey

    Profile photo of Tracey BTracey B
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    October 25, 2014 - 10:12 pm

    Thanks for your comments Richard, I understand what you’re saying.

    I’m not sure whether we’ll get to market as we have an interested party crunching their numbers now. To sell as a whole we’ve priced them 28% less than what an individual one would sell for :-)

    Cheers,
    Tracey

    Profile photo of Tracey BTracey B
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    October 1, 2014 - 5:58 am

    I would have thought the info shared by Oscar is accurate. It’s also very useful for people who are starting out to understand what’s involved in unit developments. Thank you Oscar.

    • This reply was modified 10 years, 1 month ago by Profile photo of Tracey B Tracey B.
    Profile photo of Tracey BTracey B
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    September 25, 2014 - 6:31 am

    Richard, another question if I may?

    When selling a whole block, what yield are investors seeking? Both gross and net if possible? I realise it isn’t only about the yield but I’ve had quite different opinions from my local agents who have appraised our block.

    Thanks,
    Tracey

    Profile photo of Tracey BTracey B
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    September 24, 2014 - 3:39 pm

    Hi Corey,
    17 units :-)
    Cheers,
    Tracey

    • This reply was modified 10 years, 2 months ago by Profile photo of Forum Moderator Forum Moderator.
    • This reply was modified 10 years, 2 months ago by Profile photo of Tracey B Tracey B.
    Profile photo of Tracey BTracey B
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    September 23, 2014 - 9:21 pm

    Thanks Richard. We’re just putting together the docs for a closed tender on our block of units and we’re considering how far and wide to advertise to ensure we attract any interested parties.

    I like your idea of a couple of long-ish open for inspection. That creates minimal disruption for the tenants.

    Cheers,
    Tracey

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