Hi All
Like most on this forum I have read Steve's book and gotten very excited about the opportunities that are out there.
My situation is this:
I am an Australia resident living and working in Singapore. I have around $80K which i originally thought I was going to put into one deposit and keep the property for many years in order to make capital gains. However after reading Steve's examples around capital gains I am hesitant about that being in investment option.
My train of thinking was around CF+ however if I am right this does require me to be on the ground to visit these areas to invest it etc, which is not an option for me living in Singapore.
Any thoughts or suggestions on how I could put my capital to good use. I rang propertyinvesting.com to ask them the question on if there were any organisations what would put my capital to good use in a profit sharing type scheme?
Or else if you can think of any other ways this might work. I am also looking to invest on a continual basis due to have a good disposable income.
Thanks
Sean
Hi Sean
Welcome!
The fact that you are not based in Australia does not exclude you from buying property by yourself. There is certainly no need to presume that the only path available to you is to plunge your hard earned dollars into a sharing arrangement with others. Keep in mind that such arrangements give you less control (or no control depending on the setup) of the outcome.
Nothing at all to stop you acquiring properties that you and only you own. Nothing to stop you renovating them to manufacture your own capital growth, and using that growth to leapfrog onto the next property.
Happy to chitchat to you about how you can make that happen without having to set foot on Aussie soil. Feel free to drop me a PM (Private Message) which you can do by clicking on "Send PM" under my userid and to the left of this comment.
Jacqui Middleton | Middleton Buyers Advocates
http://www.middletonbuyersadvocates.com.au
Email Me | Phone MeVIC Buyers' Agents for investors, home buyers & SMSFs.
I'd PM JacM right away! With her advice i rented my IP in 3 days. Before that it was sitting vacant for 3 months.
+1 for Jac M. She'll provide some excellent advice.
Cheers
Jamie
Jamie Moore | Pass Go Home Loans Pty Ltd
http://www.passgo.com.au
Email Me | Phone MeMortgage Broker assisting clients Australia wide Email: [email protected]
$80k is a good size deposit that will give you a range of options. Depending on the state due to stamp duty charges, you will be able to pick up a property for approx $720k with a $80k deposit.
A strategy could be to perhaps purchase one now with a smaller deposit and another property later. Just make sure you think about your long term strategy when you purchase your first property. This is so you can decide on how much deposit to use.
Re finding a property – perhaps you could do with a good Buyers Agent? They charge but finding a good one is certainly worth it.
Also look at getting your finance approval sooner than later you you exactly how much you can borrow and in turn what amount of deposit you will need to use.
Regards
Shahin
TheFinanceShop | Elite Property Finance
http://www.elitepropertyfinance.com
Email Me | Phone MeResidential and Commercial Brokerage
Hi Sean,
I am also in the same boat as you where I am currently residing and working in China. Given that I am not physically in China and that I lack development experience, I chose the investment strategy of buying Cashflow +ve properties via Rent-To-Own ("RTO") and Vendor finance schemes. At the moment, I have a business partner in Australia who helps me with sourcing vendors who will agree to vendor finance terms and I also have buyers agents who help me identify vendors that are open to the idea. Then my business partner will interview suitable tenants who we put onto RTO scheme and let the monies come in. The loan is taken out into my name and the profit is shared between me and my business partner.
However, there's quite a fair bit of hassle to source banks that will allow for vendor finance carry back (10-20% depending on vendors) and then spend quite a bit of time to sort out the legal paperwork for vendor finance and RTO scheme. Once that's done, you just sit back, relax and let the monies come in. If you would like to know more, please let me know.
Cheers
John
Thanks all for your advice, I will read it properly tonight and start to digest it all, but keep it coming !!
Cheers
Sean
I wish you goo luck in all you property investment endeavors and you do not really need to be present in AU to be able to invest in its property. You can easily fly to AU to buy it and then find a good PM to manage it while you are away in Singapore.
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