usmic started the topic Buying next to a new development. in the forum Help Needed! 9 years, 2 months ago
Hi, I am looking at buying a unit (in a block of units) because that is all I can currently afford (budget of $230K) in Melbourne. However, across the road there is a development site that is about to build luxury apartments. I have heard that you are not supposed to buy near new developments. What is the reason behind this?
usmic replied to the topic Off the plan but you get deposit back. in the forum Help Needed! 9 years, 8 months ago
They say they are buying these developments in bulk. This is how they are negotiating the discount…
usmic started the topic Off the plan but you get deposit back. in the forum Help Needed! 9 years, 8 months ago
Hi guys,
I know, I know. Buying off the plan is never a good idea. However, there is a company calling themselves mentors that pitches:
– $379k townhouse for a 76K deposit in Officer
– you get refund of deposit after settlement
– initially negatively geared by about $2k per year and positively geared after 5-ish years
The median price for a 3…[Read more]
usmic started the topic First investment strategy and 50% stamp duty discount. in the forum Help Needed! 9 years, 11 months ago
Hi,
I’m a young professional that is looking to enter the industry and currently doing Steve’s course. This is the plan for my first property, would love to know what people think:
1. Purchase an established house that has potential for cosmetic renovations.
2. Get 50% off stamp duty by living in property for 1 year.
3. Do reno’s while I live…[Read more]
usmic replied to the topic Think i’ve found a cash-flow neutral property in Bendigo :) in the forum General Property 12 years, 3 months ago
Valid points, v8ghia. I was hoping that the $1800 remaining after repayments would cover most of the costs of the property (council and water rates). I don’t plan on getting a property manager while I only have one property so that can be a saving. I will probably end up using a few hundred $ from my own pocket for repairs or any unseen costs but…[Read more]
usmic replied to the topic The one percent rule in the forum General Property 12 years, 4 months ago
Hi Michelle,
I’ve tried using the 1 percent rule on properties listed on real-estate.com. The properties listed for sale never actually display the rent that they could go for, in which case I look for similar properties in the area and try to estimate the amount that I could rent it out for. Is this how you are using the rule too? I can’t seem to…[Read more]
usmic replied to the topic Young Investor looking for a mentor in Melbourne. in the forum Help Needed! 12 years, 4 months ago
Hey, I’m in Werribee (in Melbourne’s west). Look forward to hearing from you.
usmic replied to the topic Young Investor looking for a mentor in Melbourne. in the forum Help Needed! 12 years, 4 months ago
Hi Nikolai, I’m also in the same boat as you! Young and ready to learn everything about property investing. PM if you are interested in a chat.
usmic replied to the topic How much profit should I be expecting from cash flow positive properties? in the forum General Property 12 years, 4 months ago
Thanks Xdrew! Just realised how much research is ahead of me. I’ve only just started working so I do have quiet a bit of time before I have enough money saved for a deposit. Hopefully my first IP will be purchased end of next year (if the market is right). Thanks again!