Hi all,
I’ve been searching for some time now for a positively geared property, but alas to no avail. I’m trying hard not to become a skeptic, as I’ve read plenty about other peoples bargains and fortunes. But they just keep eluding me. Any ideas or suggestions?? I am paying off my own home and have $25,000 cash to invest. Heelllp.
Dardi.I am interrested to see how you go as I am in a simalar situation,
They are out there but not as comon as they were a few years back.
Two main methods:
Change the usage and therefore the income
Search in areas further afield with high rental demand but less long term population – usually mining towns. Remember many believe these to be riskier in terms of CG.
Keep looking and remember the wealth cat can be skinned in a number of ways.
Simon Macks
Interest Free Home Loan Agent
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Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
Dardi and Wazza,
You will both have more luck in finding information on POSITIVE GEARED PROPERTIES using the SEARCH function (top left hand corner of screen) than you will in tracking such investments. It is difficult, but not impossible and takes alot of research, so may I suggest you start off with using this website facility to set the mood, and which will provide you with pages and pages of links pertaining to this very topic!!!
Enjoy, [biggrin]
Jo
I too have been looking. As rare as finding Elvis on a Melbourne tram I say! But some say he still lives…
thankyou everyone for your input,you never know “good things come to those who wait”
I live in country NSW but that certainly hasn’t stopped price rises.
Any hot tips on the next boom town?? Of course not! we’d all be their after the same property.
CherioThere is plenty………for those who wants to create it.
[biggrin]how do you create something that’s not their???
I feel like I’ve search Aus. from top to bottom,
But I shall not give up. NZ will be where I might look into next.
What’s a good web site to look up profiles of towns??Originally posted by Dardi:how do you create something that’s not their???
With imagination!!! [blink]
You buy a cheap property, put in some elbow grease and either rent it out or onsell it.I feel like I’ve search Aus. from top to bottom,
I doubt it!!! [blush2]
Most people who say that haven’t even looked at the SEARCH option on this site, let alone looked beyond their front door!!!But I shall not give up.
Good to know, but seriously……How long have you been looking??? How many websites have you looked at??? What sort of information are you looking for that perhaps these websites have not provided you with??? (you may be looking at the wrong ones). What specifically do you want to find??? (that is, are you more interested in cashflow or are you prepared to sacrifice a bit of money for the longer term benefit, ie. CG???) What are you investment goals (short and long term)??? If you can’t find +CF positive are you prepared to “create” one buy spending money on renovating??? If so, have you considered costs associated with these plans??? Are you prepared to invest in remote country areas (which can be risker) and if so, are you prepared for the higher management costs of owning these properties??? These are but a few questions you need to sort out in your mind before you jump into property investing.
NZ will be where I might look into next.
I believe NZ is equally as difficult, but like Australia, with some serious RESEARCH you might find something.What’s a good web site to look up profiles of towns??
Council websites!!!
But you won’t get an overall list of profiles.Try: http://www.domain.com.au select SUBURB SNAPSHOT and then type in the name of an area of interest. When satisfied with all that, REPEAT the process for another town and so on……
Try also: http://reports.rpdata.com.au/
Again, you will have to choose your own area of interest, and it doesn’t give you a profile of the town, but helps you get a feel of some basics.Look, don’t get me wrong Dardi, I am all for helping out a newbie, but the way I see it, if you are not prepared to put in the hard yards, you should look at other investment opportunities
Why not look at a few areas of interest, do some research to find out all you can about the them, and then if you still have questions about these areas (their CG potential, population size, history etc) and you want to see what others think, THEN ASK “what do people think of X” and forum members in here are pretty good; they will tell you straight up, no BS.
However, no one is going to spoon feed you, and personally, I don’t believe they should; if you don’t want to do the hard work, engage a buyer’s agent and pay them to do it for you.
Good luck,
Jo
well… I didn’t think I was asking to be spoon fed, and I might be a “newbi” to this site, but that doesn’t make me ‘new’ to investing.
It’s only now after reading Steve’s book 0 to 130
that I became more educated about positive gearing. Like most people, negative gearing is all you generally hear about, (and not to mention I only just got my modem fixed after to much down time,) I couldn’t wait to check this site out.Obviously I’m willing to do the hard work, up till 2am last night looking around, and I’m here arn’t I?
But seriously, I’ve been looking across the board at all sorts of invstments and oppurtunities, that I am willing to look into and consider.
Elbow grease is not a problem, we’ve done approx 98% of the work in our own home, from tiling to knocking down walls, deck building..the list is endless. But we’d need to find somthing relativly close. I live in counrty NSW, Bathurst actually, and had we been in the position we are in now(financially) 2 to 3 years ago, properties wouldn’t be so elusive.But I know their is another property out their for me to put mt name on and join ranks of positively geared property owners.
I’ve just got to find it.
Many thanks again for everyones input.
Dardi
Dardi,
The biggest problem with finding +CF properties is that they are getting more and more difficult to come by, in many cases, virtually impossible. That is why it is best perhaps to find something that with a bit of “elbow grease” you can make a bit more $$$ thus rendering your investment CF positive.
You obviously are more focussed on immediate cashflow as opposed to CG which is fine, if thats what you prefer then great. Do remember, that although remote towns can experience CG it is not comparable to most regional or city centres, and in addition, banks tend to not like lending money for rural investments, and if they do, it is often much less. Talk to a good broker.
BTW….Steve book relates to a different market; the same opportunities do not exist as they did back then, even for the MAPPERS who had a struggle in finding +CF properties. If you want +CF thesedays, you have to create them.
Good luck,
Jo
I do agree, and we are ok with reno’s, my husband is interested in CG and quick turnover, so I’m hoping we complement each other and get some fruit on the tree soon, hopefully without fruitflys…
Thanks Jo for that websites and things
Dardi
No problem.[biggrin]
I understand that you may want a “quick turn around” to make a few $$$ but bear in mind, that short term investments won’t give you much CG (not in today’s climate) and secondly, you could face paying CGT if you sell an IP under 12 months which probably won’t be too bad if the CG is minimal anyway!!!
Good luck with the fruit trees (minus the flies of course) [blink]
Cheers,
Jo
Monopoly & Dardi
I think that you would pay normal tax rates on an investment property if you sell with in the first 12 months , you are only down to CGT if you keep it longer than 12 months.
You still have to be careful , I had a property for years then I developed it . I payed CGT up until I develpoed it then from that point (valuation had to be done up to that point) I had to pay ful tax rate in my case 48.5% . If you renovate with out living in or renting out or keeping for more than 12 months you can pay higher taxs, also you could be faced with GST as well. Talk to an accountant first .Cheers Rick [drummer]
There are a lot of top houses in Bathurst! In fact it is a real boom area with good eateries and shows. The University is a good size and you may still be able to convert somthing to student accomodation. Some of those bigger houses may be worth converting. 4 to 5 students paying a good rent could make for positive cash flow.
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