Is there anyone out there that has had dealings with this sort of thing.We went to a seminar which at the time we found very helpful as we were green in the property scene. now that ive read steves book and found this site i am thinking different, the propertys on offer we in fairly good areas in Brisbane $300-350,000 i cant remember the rent they said you would get but every thing was done on paper i.e. depreciation on building s etc amont of rent, you know! anyway after all this the property was going to cost us $80 a week at the time we didnt think anything of it what do you guys think of this .
It’s hard to make a judgement on the deal without any further information. You haven’t provided much detail on all of the numbers involved, location of the property, type of dwelling/s on the property.
Though you did mention that it is “going to cost” you $80 per week. Is that after everything has been paid? If so I’m thinking the deal is negatively geared, which makes me ask you this: Is that the type of investing you want to do?
If your answer is yes, then maybe it’s a good deal for you – only you can decide that after doing your own due diligence.
If your answer is no, then the deal would obviously not be for you.
Learn, Love, Strive. Make a difference!
In amny cases these seminars are useful for some information. There main aim is to sell you property. In many cases there can be as muchas $25,000 to $30,000 worth of commission loaded into the sale price.
Nigel Kibel
http://www.propertyknowhow.com.au
Australian and New Zealand Buyers advocate
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Hi,
A free seminar can be an excellent way to start your property investing as the information is usually okay but it’s the bending of the facts to suit a sales purpose that is questionable.
You can protect yourself against this by identifying the key assumption(s) in the financial model presented and then asking yourself how likely is it that those assumptions will be achieved.
For example, assumptions are normally made in respect to:
1. Your ability to borrow and usually at 100% (i.e. you have equity to secure against)
2. Interest rates may be low as the finance can be arranged via a back door. Watch out for this as there may be a commission paid back to the developer. That is, you may be able to get a better deal shopping around.
3. Certain rents can be achieved (usually best case scenario)
4. Low rental vacancy periods
5. The strength of a rental guarantee
6. Capital gains forecasts (about property doubling every X or Y years)
7. Depreciation expectations
8. Tax savings based on highest tax rate, which now kicks in at a much higher level.That’s a start anyway. Good luck with it.
Bye,
Steve McKnight
**********
Remember that success comes from doing things differently.
**********Steve McKnight | PropertyInvesting.com Pty Ltd | CEO
https://www.propertyinvesting.comSuccess comes from doing things differently
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