Forum Replies Created
Of course! Ask away Ryan!
My My RaelMelb, you have stirred up quite a lot of responses. I was not so much thinking about where you want to live but thinking about the aging population. Where are you best to put your assets that they will have the most demand over the time – and that is a looong time lol til you are 50. We have an aging population, not all young swingers have the $$ to but an inner city apartment when the time comes for you to sell. Our older generation are putting pressure on the type of accommodation that they desire. Well, you can also ask what you would prefer to live in when you are 50 but look at where the pressures are.
Yes, you can go to a tax adviser. All of the contributions here are good advice but you really need to seek advice for your own situation. This is a great forum to see what else is out there and what other "normal" people are thinking.See you
Hi Anna, you could always come to our women in property meeting and talk to other women interested in property first hand.
Hi RaeMelb,
I think you need to sit down with a different accountant and map out what you want to achieve- or a broker. You have a lot of options but you need to work out what is right for you. For my own, I would spread my risk and buy many properties that provide you with a return. Inner city is great but look at what the aging population is looking for as to what will be investment of choice in the future- when you are 50. I was until recently a real estate agent (more intent on investing-hence my postings on forums here). Often I would see where we would sell a dual occ for as much or more than we would sell a similarly located and appointed property- that is the retirees would want this type of home and with more disposable income would push the price up.
I hope you are able to find what you want- buy lots of properties!Hi Anna, I am formerly a real estate agent but more interested in investing. I dare say at $200 a week, your unit would be very small. It would be a large jump to go into a $500k-$600k property. What is clearly needed here is some thought as to what it is YOU want to achieve. The feedback and responses here are great and true. But it sounds to me like you need to have a clear vision of what you want out of it- this will make clear what you do next. Buying a property worth $500 or $600,000 is a great investment but will that suit you, will that do what you want it to do? Are there alternatives that will give you a similar result that will not cost you so much? Do you plan to go back to Tasmania? There are many options but the place to start is to ask what you really want? Then see an accountant to set up your trusts or if renting is the best option for your business.
I am not sure what you should be confused about: Ana Stankovic runs coaching sessions on renovating for profit. I run monthly meetings for women (and men attend?? go figure!) interested in property investing. We meet monthly I am interested in the free wealth4women. I am about to do something- I am over courses- I aim to get out there and do some more renovating. We currently have a reno on the go in Ballarat. I am about to kick off meetings in Geelong and Wheelers Hill. Yes, you can do courses on line and you can do anything. I have found it useful to meet with people. They must do too as most go on to do something. Boot camps are great- I have just been a bit disappointed in the lack of action following boot camps.
Hi Grant, I run meetings in Melbourne for people interested in property investing. I have not undertaken Ana's course but I have had her speak at my meetings. She is incredible. While free on-line courses are great (Phillip I WILL check out your courses)- there is great benefit of having peers to meet with regularly. I undertook a course last year and paid handsomely for it. There is an associated forum. No one seems to do anything after the weekend boot camp. Ana has been fantastic for me- we held a meeting where she was locked out of the venue- i called her and she drove back from Sandringham to Fitzroy and gave a FANTASTIC presentation. The other thing is that you pay but you WILL actually get a renovation out of it that pays you back the course fee and more. I have clients who have used Ana and are very happy with her services. Go for it and make $$ I say. Its horses for courses.
Good Luck!Hi There, I have lived in the west and in the north. I have been telling people for some time, invest in Craigieburn. There is so much going on in terms of development and building- roads- town centre- its all there and affordable. I love Point Cook but I would not invest there as I think it is at the top of the market price- Craigieburn is growing and a bit daggy so its got room to grow in value. You can still pick up dumps cheap and reno them. My thoughts on the topic!……………..
Hi, Now what a great idea. In what area are you looking? I can help you find a buyers agent if you are in Melbourne. Call me soon Christine
Hi Matthew, as a real estate agent it is always a good idea to knock on doors that seem over grown- cos they might sell. I went into real estate to help people and I really am more interested in investing. But what I have found in the main, (NOT ALL BUT MANY) is that vendors over value their property so its not always true that it is cheaper if you buy direct. It is worth a try and a good tactic. You can buy sales data from RP Data but I am not sure if it gives you the owner information when you buy it. Agents subscribe to this (and other programs out there) as a tool for sales prices. I think you can get it from state registers as well, titles office or go to council and ask. Sometimes they tell you everything! If you are in Melbourne get along to my meeting: Free meeting to talk about property and network with like minded people in Melbourne Dec 7. Come chat with me and others who have done property deals. And people who ARE doing it! Come hear what it takes to get down to it! And share stories. email me [email protected] to get details. See you all there Christine
I am not sure where you are located but I am holding a Free meeting to talk about property and network with like minded people in Melbourne Dec 7. You can ask all your home loan questions there! A broker will be on hand. Come chat with me and others who are liked minded and LOVE property. Speak with Ana Stankovic Winning Formulas for Success. And people who ARE doing it! Come hear what it takes to get down to it! And share stories. email me [email protected] to get details. See you all there Christine
Wow! Duckster, that does look profound! I am on my property investing journey and cant wait to see Steve this Thursday night in Melbourne!
Wamest………..Yes, please try Mark Ault at CP Partners in Balwyn and Epping at Mark Ault
Executive – Business & Tax
C P PARTNERS
Accountants
Email: [email protected]
Website: www.cppartners.com.au
Phone: (03) 9408-6555
Fax: (03) 9408-6660
Tell him Christine referred you.Hi TLC, while the numbers stack up, do take into consideration the body corporate and management fees that might be payable. Many times these look like a great investment but really not due to all the controls and outgoings. Having said that there is a REAL shortage of accomodation for students. Cheers
I dont have an accountant in NSW but you can call CP Partners and have a chat on the phone. I also know a good solicitor. Let me know if you want a solicitor in Sydney. Cheers Christine
Hi Delltone, I am looking at a couple of properties currently around $160K to $180K. One I am looking at would bring about $250K when renovated and there is a possibility to subdividing the back block off and selling it. I am about to do some feasibilities on this. I have access to a planner who I am about to talk to to see if it can be divided off and the cost of doing this. I look forward hearing from you again soon. Cheers
Hi Delltone, I am looking at a couple of places today. My husband and I picked up the place we are now renovating for $150K. They are out there. I was working as an agents representative until recently. I thought like you that there are not many places out there but what I did find is that people will not touch homes if they need work or are untidy so it brings the price down. I am looking at JV opportunities. We are located in Melbourne. There is another one I am looking at in Kensington in Melbourne which would be a great renovator. Yes, the shows have made it popular but people generally dont want to take it on. Deceased estates also make great renovators! Our reno in Spotswood was a PPOR but we have not done this since. You possibly also need to look at setting up structures for your investments. Let me know if you want more info- I can steer you toward renos that are sub $200k!
I do have an accountant I can recommend but they are in Melbourne: Tell him Christine from Women in Property sent you:Mark Ault
Executive – Business & Tax
C P PARTNERS
Accountants
Email: [email protected]
Website: http://www.cppartners.com.au
Phone: (03) 9408-6555
Fax: (03) 9408-6660
Mail: 733-735 High Street EPPING VIC 3076
Level 1 – 58 Whitehorse Road BALWYN VIC 3103
You can speak on the phone. I am happy to answer questions any time as well. Mark is a great help and can help with investing questions.
Cheers ChristineHere Here Steve McKnight! You are totally correct not to promote any sort of denigration of any person……..even if this person does not give others the same respect. We are ALL entitled to our opinions. Cheers
Hi Kacha, yes Dan is correct, your accountant has outlined options to you. I would go asset protection. You also need to consider the long term objective. Are you doing this for long term gain or short term tax benefits. Map out a plan for your longer term and see where that takes you. Your accountant has done the right thing in outlining options. I know we went this way: Trust and found that it did not do what negative gearing did for us but we are now happy that we went this way as we now see the benefits if the property grows in CG or in rental returns. Cheers
