I am a successful property investor in the UK and have been advised of some good opportunities in Aus. However, from the preliminary research I have done (admittedly not much to date) it seems that unless I want to buy off plan there is not a lot I can do unless I apply to live in Aus. Is that right? What I would like to do in an ideal world is to buy some properties in Aus that are let to local people but then also purchase a holiday home for myself. Is this possible?
Hi TA,
I am sure you have done this already but the Foreign Investment Review Board is the government body that polices such purchases.
Check their website out for some more information. There are a number of downloadable forms that may be of use to you.
http://www.firb.gov.au/content/real_estate.asp
Derek
[email protected]
0409 882 958
Property investment advice and researched property in quality locations available.Hi TerryAnneG
Who ever told you there are great deals in OZ for renting out is pulling your leg. Unless you are heavily into negative gearing I would look further a field the USA is not bad, have a chat to Westan regarding the USA.
KerwynThanks for the replies.
Kerwyn – in the nicest possible way, I disagree with you. There are good deals to be had in many places, including Aus if you can buy at the right price. And that is down to negotiation skills mostly. I have some deals in Aus that I can walk into now (if I can get the overseas issue sorted) and the returns are greater than some in the UK and US (my husband is from the US so we are abreast of the situation there). We buy around the world depending on individual deals. I don’t think it is sensible to give up on a country just because it is a bit tougher at a particular time to get the right deal. Keep looking and I hope it goes wellTerryAnneG
Yes I agree there are deals to be made, but it depends where you are talking about. There are deals in small country towns but people are leaving these in droves. There are a lot of desperate people who bought apartments off the plan in Sydney and Melbourne who wish they hadn’t who may want to sell cheap. But when you get one desperado who sells out cheap the price of the whole unit block is devalued. Still if you have time to wait this should not be a problem.
Steve says problem + solution= profit and this is true for anywhere in the world, so good luck to you.
As far as you buying here, why don’t you incorporate? Get a shelf company and of you go. Japanese companies own half of Queensland and they don’t live here.
Kerwyn.Whoooaaah back a bit. People are certainly not leaving every country town in droves! In fact, as any planner will tell you, country town dwellers move less frequently than urban folk.
Select country towns are doing really well at the moment, depends on their “point-of-difference”. As with locations, the secondary and the compromised will retreat a bit but long-term the bush has a great future.
Hi enduser
Well the town I lived in for 10 years and the smaller towns around, people were leaving in droves: I was one of them.
Kerwyncountry towns are suppose to be the next big shift for the boomers – places like Bridgetown.
http://www.megainvestments.com.auExtensive list of ‘Off The Plan’ property available for sale in Perth.
John – 0419 198 856
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