Hi there,
I'm from sydney and I'm looking into investing in property, I've read the books, seen some of the seminars. But I want a persons opinion to todays investors. What are the real pro's and con's, anyone that is interested to help would be great, I'm in an ideal position to start investing.So if anyone out there has experience in investing in Sydney, I'd like to get advice from a good source.
Cheers.
The Sydney market is way under valued at present, as the increasing numbers of asian buyers reach our shores the prices will sky rocket, i advise buying anything and everything as soon as possible, and make sure you vote for kevin rudd. if the liberals get in then our game is over!
These Asian buyers are all loaded.
The north shore is getting a bit cramped, they will start buying in other areas soon as they are coming in at a real rate of 2 million per year (student visa's, working visa's, immigrants etc).
Buy buy buy and sell when the markets high, in hong kong these people pay $5 million for 1 bed units!
We buy in Sydney a lot for various clients all over the world and for some based in Sydney.
If you have specific Q's I'd be happy to answer them for you.
I can strongly recommend Alan at Propertunity.
We have financed a number of his clients into Sydney based properties and every one of the deals has been bought at way under valuation.
Think it is like anything if you want expert advice and value then it is worth paying for it.
Richard Taylor | Australia's leading private lender
Without knowing your personal circumstances it is very difficult to assess you in a manner that would be justified. Many people write on this site thinking they will get the solution to the property investing in a paragraph. Financial advice for the most basic of my clients takes an initial three hour consultation.
The following gives you an idea of the complexities of financial advice (this is on the most basic level). 1. Plans in relation to health, income insurance, Trauma, Life/TPD (term or whole of life)?2. Asset protection-general insurance (house, contents, Liability, Indemnity etc)?3. Tax Deductible Debt v Non Tax Deductible Debt4. Fee’s and charges charged by banks and other related industries?5. Your own home and tax benefits- Owner occupied exemption, CGT exemptions 6. State and Federal Grants for homeowners.7. Mortgage Broking concerns- interest rates, variable, low doc, LOC, fixed (short v long-15 years), 100% offset, investor loans- tax deductible set up, Records to keep for tax deductions, Consumer credit code, LMI, Capacity8. Purchasing costs of a home- government search, conveyancing, P&B9. What is capitalising interest? Sub accounts?10. Are you in the property business? 11. Business structures, Sole trader, Partnership, Company and Trust ( Bare, Discretionary, Unit, and Hybrid).12. How does A= L+OE apply to a property business?13. Why would you buy a house in a trust? This is often not good contrary to the latest hype.14. Investment property seminar –interstate, are they deductible? 15. The benefits of Holiday homes.16. In who’s name for taxation and capital gains purposes?17. Is interest payment tax deductible prior to a house being rented out? What about repairs after the property has been tenanted for income purposes?18. Land tax- name on title, joint tenants, tenants in common, % effect v taxable income v Capital gains tax19. Joint ventures?20. Expected rate of return v inflation (opportunity cost)21. Commercial v Residential v Public Trusts v Syndicates v Trust22. Do you want to retain your present home/ what are your house plans or areyou planning to move within several years?23. Rent v Buy, Shares v Property24. Employment situation and taxable income?25. Non -Tax deductible debt: credit cards, hire purchase and leases of domestic nature. What effect do these have on your mortgage or loans available?26. Depreciating assets v appreciating assets – What are these?27. Free cash flow- How can I improve this situation? How do you structure yourself to afford more property.28. Income Tax Brackets and Capital gains Tax.29. Age profile and the ability or risk that may be taken?30. Should I pay off my home?31. Mortgage repayment calculator? What can I afford to repay?32. How can paying off my home be accelerated?33. Negative v positive geared, The upside and downside to both of these?34. What is OPM, leveraging, equity, and collateral?35. Where to buy, unit/house, rental yield, new/old, price range, pool etc36. Management issues with properties. How to avoid these? 37. Can someone house share with me to help pay the mortgage?38. Strategies and tricks?39. Co-owners with friends is this a bad idea?40. Depreciation v Repairs v Capital Improvement41. Loan cost write off42. What is the Cost base for CGT and the trigger date?43. How a line of credit can be so wrong?44. Pre-paid interest and variation to PAYG ( form 1515).45. How Lenders Mortgage Insurance (LMI) is of no financial concern.
Your question such as the above will get a response that may cover only one of the above topics – If you went away to make a decision based on one, two, or even three of the facts above then you are short changing yourself and the ability to make a valid decision for your future.Well, I'm not property investor smart, but I'm a fast learner. We have the assets and pay to be able to buy. But I want to do my research first, and speak who ever may be of service for investing in property specially in Sydney (though we live here, we'd invest in other states also).
My wife and I are both young (24 & 25), we both have good jobs after tax we make around 160k a year. Our house is payed off (estimate worth $900k), and we have save approximate 10k a month. So I want to get the best advice in whats hot around now. Because I've seen people lose everything on the wrong investment. Where not looking for anything in a huge price range, Probably not even over 250 if I can but good return. But thats also very difficult to find I hear these days. So here is a bit of a run down. Of our situation.
Also if anyone needs hardware, building supples or raw material. Contact me.
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