Forum Replies Created
Has anyone used their service? Do they pass on their skills as such along the way do you know?
I have been following Nathan for some time and know he knows his stuff, Just dont have the time currently to do my own searching and researching yet….
It seems nathan isnt the kind of guy that keeps everything to himself, so i was hoping to learn a few skills through the process if i go with them
Do some research on demographics in the area and see if the property (each one seperately) would suit the most dominant demographic, have a look at similar rentals in the area, talk to other agents, tell them you have this property and you would like to rent it, see what the demand is like, if all that is good you may have found a bargain
I use dom consentino from Kennedy and Co, knows his stuff and invests in property, he’s also a regular in api magazine so he must know something haha
thanks for the advice guys, now to work out furnished or unfurnished by having a chat to the agents
You are in the exact same situation as i am in Draytone, where are you from in aus?
My ppor is worth the same with same debt level, and im 29, looking to rent the ppor for about 450 pw
I am only starting out also but I agree with benny, factor in a 2% or more above variable interest rate and even double your vacancy rate in your calculations – e.g 2%, enter 4%.
I would almost go as far as to leave out depreciation from the initial calculation and factor that in later, consider it a bonus. Im pretty sure any depreciation also gets taken off your cost base of the property thus increasing the amount of capital gains tax you pay…I think this is right
so in theory if you depreciate 20,000 from a property that cost 200,000, your cost base would be 180,000, meaning that 20,000 is also now subject to any CGT aswell as any other capital gains made.
I will factor these in my magical spreadsheet also….
guess im on my own here huh haha
The reality is that we are so smart we are making ourselves redundant.
true.
i dont believe the unemployment will be as bad as you believe. someone has to service these machines, install these machines, and put them out when they catch on fire.haha.
The same thing happened when computers were invented, yet here we are still.
I personally cant wait for the day when im sitting at a mates house, drinking beer and monitoring my 20 unmanned aerial vehicles deliver takeaway across australia for an income.
just my 7 bucks worth.
bump!
anyone?
pretty sure a project was approved the other day near gladstone, maybe something to do with curtis island?
been quiet in here for a bit whats happening?
hey shahin,
where would you find reliable info on zoning changes?
cheers
yes yield is calculated as ;
RENT p.w x 52 (weeks) (or less depending on vacancy rate in suburb, e.g – 51 weeks with a 2% vacancy rate)
= annual rent
then
annual rent x purchase price x 100 = Yield as a percentage, so
Rent x 52 = Annual Rent divide by Purchase Price x 100 = Yield %
500 x 52 = 26000 divide by 400,000 x 100 = 6.5%
yes cashflow positive is normally considered if money is in your pocket after interest, rates, and all other outgoings.
be wary as some spruikers and agents will call some properties cashflow positive after factoring in depreciation and not all expenses and rates, I prefer to leave out depreciation when calculating if something will be cf+ gives me extra buffer anyway.
PIPA to suspend Property Secrets’ membership
By Jennifer Duke
Monday, 07 October 2013
In light of the recent allegations made by Today Tonight against Property Investment Professionals of Australia (PIPA) member Property Secrets, and its director, Paul Giezekamp, PIPA have said that they will take action.
Speaking to Property Observer, Margaret Lomas, former chair and current director of PIPA, said that they require that their members abide by a strict code of practice and that action would be taken against those who breach this code.
“This code includes a requirement to disclose all commissions to the client, to allow the client to make an informed decision about whether they wish to proceed with that member’s services,” Lomas said.
“In light of the recent allegations, PIPA will follow protocol, which is to suspend membership pending an investigation into the claims made. Where evidence subsequently exists to uphold those claims, Property Secret’s membership will be terminated,” she said.
Pointing to the absence of regulation to protect consumers in the property industry, she said that part of the function of PIPA is to protect consumers in the property investment industry and to uphold standards and accreditation outlined by the organisation.
“We will continue to vigorously lobby the government, as we have done for many years, to more closely examine this industry so that consumers have recourse where they have been taken advantage of by this sort of practice,” she said.
The eight page PIPA Code of Conduct can be found online.
It states clearly the expectation of full disclosure of commissions.
Under the ‘Disclosure’ section in ‘Fees and Commissions’ on page two it notes:
Members will disclose to clients, in writing, all fees and commissions which are associated with the provision of our services so they may make proper assessment of the value of that service. This includes all commissions, payments, kickbacks and soft or hard dollar rewards which may be triggered by the utilisation of any of our services.
Earlier this year, PIPA embarked on an “anti-spruiker” campaign.
Currently, Property Secrets is listed on the PIPA website as a member.
PIPA previously suspended Money Choice's membership in May of this year, following ASIC's banning of company director, Matt George, from engaging in credit activities for eight years.
I figured the broker may charge an upfront fee, seen as though they wouldnt be getting too much on trailing commissions.
sounds like you know your stuff richard
Does anyone have as access for RIA, price finder or rpdata for SA?
5.2% yield after body corp is taken away from rent, sounds pretty ordinary for a unit, depends where it is i suppose
hey IG welcome to the forum, I was in your situation trying to work out what mag to subscribe to, after 2 years I have worked out the best ones out there – in my view anyway.
YIP – I subscribed to paper version and found this to be great for in depth answers in property and a few more analytical statistics in the back then SPI and API, My paper subscription is now up and I subscribed to Ipad version. Ipad version is great as in the research section you can sort all stats by postcode,alphabetical, yield, capital growth in descending order, so much quicker than trying to look through the magazine. also articles in the ipad can be archived and saved for later reference, great little mag, saves carrying around 5 issues aswell, can be weighty in airport luggage.
API – never subscribed and probably wont to be honest I get it for free from my sister working in an airport lounge, I found a lot of there articles revolve around so called hotspots that seem to change on a monthly basis, i found this annoying and very confusing. They did however have a lot of renovation tips and ideas that I liked but thats about it. they also do a ipad version but nowhere near as good as YIP.Research in the back is similar to YIP but a few less stats i believe.
SPI – a fairly new magazine to join the property section and so far from what I have seen its pretty good. Very simple wording and factual evidence in all their stories and articles, I will probably subscribe to this as I like that its not overrun by ad’s and they have some valuable in depth analysis of certain areas and suburbs. again they have a research section in the back but its pretty simplistic figures. Unsure whether they do an ipad version.
All in all i’d say value for money is the Ipad version of YIP especially at only $6 an issue. more bang for your buck.
I dont really use magazines for research, you will find most of the best info in forums like this one and also some of the area brochures developers offer have some good stats on certain suburbs. RPdata is really good too which ill probably be signing up to soon as i Zoom in on my area.
all the best
wade
