Total Members: 158,199

Richard

  • If the asset lacks liquidity, but the banks still value the asset to allow you to leverage the equity you create, then its not a deal breaker.

    My focus to date has been to ensure my next investment, yields enough outcome to get me into the following one. I prefer paths where selling down the market share is not required, rather leveraging the…[Read more]

  • Hi Henry, the solution is drainage and redirecting the water flow. you probably need to determine the over land water flow levels, which you can define by contacting the relevant council and talking with their town planner. Might be lucky to find it online via the council’s…[Read more]

  • Richard replied to the topic Community Title or Strata for a small 2 units in the forum Help Needed! 9 years, 4 months ago

    From my understanding; strata title is where dwellings on a community title, can be sold separately.

    If the title was subdivided, then there is no community title, only individual ones ‘freehold’, with own rates.

    A multi-unit title is where more than one dwelling shares the one title, for which there is still a community title, managed by the…[Read more]

  • Richard replied to the topic Past Future performance and Market value in the forum Help Needed! 9 years, 4 months ago

    CBD doesn’t mean millions from my experience, there is plenty of market for all budgets. I was referring to a CBD like Brisbane, which you can afford for $400K, within 10-12kms of the CBD.

    A recent regional example was on the sunshine coast where you can buy duplex sites with an existing dwelling on them for less than $400K, I had a client secure…[Read more]

  • Richard replied to the topic Past Future performance and Market value in the forum Help Needed! 9 years, 4 months ago

    Cheap stock in the sticks for neutral gearing at purchase is not my preferred approach. Perhaps others on this site are better suited to address this for you?

    If it were me, I’d apply your research to an ‘inner city’ as you can get for your money land based site, with a dual income option or value add yield option to bridge the cash flow gap. I’d…[Read more]

  • Richard replied to the topic Past Future performance and Market value in the forum Help Needed! 9 years, 4 months ago

    Is your focus on the suburb its price point, or does that particular market offer additional opportunity?

    Market conditions change, its part of the game. If your strategy is dependent on growth alone, then the time it takes to grow is your biggest risk. If you can do something to the property physically to hasten this process then you have some…[Read more]

  • Richard replied to the topic 1 propertyat $700k or two at $350k each in the forum Help Needed! 9 years, 4 months ago

    Interesting comments on this one Kurtuk,

    Really depends on the purpose of the purchase. Assuming its for investment:

    I would go for market share, $700K would give you access to significant options in Brisbane. Including value add opportunity. I would buy one site with zoning for multiple dwellings, this way you purchase an asset with in built…[Read more]

  • Richard replied to the topic "Setting up a good professional team" in the forum Help Needed! 9 years, 4 months ago

    Great question achimy! Agenda free support can be hard to find where businesses are dependent on the money they make from the products/ services they sell. The trick is to:

    – Have a specific outcome in mind. What do you want from property? Just participating, isn’t really a strategy. This way you can be have a selection criteria to help qualify…[Read more]

  • Richard replied to the topic First Investment Purchase in the forum Help Needed! 9 years, 4 months ago

    Consider also, you are one of many investors being sold into the same product, right next to the other 100 dwellings in the development. This means widespread rental properties; one after the other. This will segment the demand for this type of product as you will loose the ‘owner occupier’ driver for capital growth.

    Second, you’re in a mortgage…[Read more]

  • Richard replied to the topic First Investment Purchase in the forum Help Needed! 9 years, 4 months ago

    From my experience old property doesn’t have to translate to higher maintenance costs. In QLD we have QLDers (postwar weatherboard), if you apply the right buying processes, ensuring the dwelling is sound then holding costs can be minimal.

    This way you can prioritise the location, radius to CBD, rather than paying so much for the dwelling out in…[Read more]

  • Richard replied to the topic First Investment Purchase in the forum Help Needed! 9 years, 4 months ago

    Off the plan property sold through an intermediary, suggests commissions. Also just make sure these ‘investment advisers’ actually have a Australian financial services license. As without it, they are not allowed to give you personal strategic direction on anything, including property product.

    I’m with PHP & Richard, older property in established…[Read more]

  • Richard replied to the topic First investment in the forum Help Needed! 9 years, 4 months ago

    I think if you have the capacity to invest, you should be investing, rather than waiting for the most opportune time to buy.

    Perhaps ensuring there is a value add option to exploit in your asset when the market rewards ‘value add’ is a strategic solution. Achieving the ‘time in’ requirement, but also taking advantage of the ‘timing’ opportunity…[Read more]

  • Richard replied to the topic Gold Coast new apartment prices?? in the forum Help Needed! 9 years, 4 months ago

    GC unit market has had over supply issues for years, and although some prospectors are using the coming Commonwealth Games as a potential driver, its all pretty short term. Is this purchase for your own home or for investment purposes?

  • Richard replied to the topic Seeking your Advice in the forum Help Needed! 9 years, 4 months ago

    Thanks for the post. I agree with PHP. A good investment should definitely be about growth and yield, with tax saving as a potential byproduct of participating rather than the reason to do it.

    Negative gearing (when your income is less than expenses) is one way to reduce taxable income, along with depreciation benefits (the physical building &…[Read more]

  • Richard replied to the topic Advice to go the next step? in the forum Help Needed! 9 years, 4 months ago

    Hi Glen, great to see some young guns raring to go! Any traction before kids will make a big difference long term!

    Flipping requires continuous effort, its like adding another day job to your existing ones. It can pay well when the market is right and rewards renos, but difficult to do year in year out profitably. If you are handy, there are…[Read more]

  • Richard replied to the topic How to buy property in QLD ? in the forum Help Needed! 9 years, 4 months ago

    One difference is the offer process. If you put an offer in and its accepted, you are in contract and its handled by the RE Agent. There’s no exchange of contracts like in NSW. so ensure you have your contract terms in place when you make an offer.

    LMR sites (low/ medium residential development) are in high demand in Brisbane (if this is the…[Read more]

  • Richard replied to the topic 8 Rules of Investing in the forum Help Needed! 9 years, 4 months ago

    Agree with your list Mark, I’ve always prioritised holding what I create.

    A couple of my rules:
    Work to a time frame: Property investment doesn’t have to be a life endeavor. If you actually have a plan for how you are going to build your portfolio, you can channel your effort and make it happen within a time frame that’s tangible.

    Have an…[Read more]

  • Richard replied to the topic Current Situation – Would like advice in the forum Help Needed! 9 years, 4 months ago

    I think you already know the right move Scottyboy,

    For your first investment I would opt for something with a land component, with low holding costs, close to neutral as possible. Preferably with a value add option to employ when you’re ready to engage it. Brisbane is more likely to offer this option within your price point as the yield is much…[Read more]

  • Richard replied to the topic Share your past experiences on adding value to a property in the forum Help Needed! 9 years, 4 months ago

    Hi, thanks for the post.

    I’m a big believer in having a strategy in property. Value add can be a purposeful path, particularly as waiting for the market to do all the work, can stretch out your time horison.

    I started with accumulation using equity and Lines of Credit like a lot of investors about 8 years ago. I found this limiting as it sucks…[Read more]

  • Richard replied to the topic Do it yourself or get professional do it for you ? in the forum Help Needed! 9 years, 4 months ago

    Hi Wiwin,

    lots of info here about how to buy, who can help, not much around what is right for you and whether it will help realise your outcome. Mostly because this different for everyone. Expectations are pretty important, as your first step into property needs to be a positive one in order for you to stick at it and build your portfolio.…[Read more]

  • Load More

Richard

Step 1 - 0% Complete

Fill Out Your Member Profile Below

Fill in the required fields below to complete your registration.

Registration not only grants you full access to this website, but will also enable us to send you our newsletter, latest investor tips, strategies and information about events/products relevant to investors. You can opt out at any time.

Used to log in to the website and for targeting with messages. Alphanumeric characters only. No spaces allowed..

Member Login
Lost your password?
×
158,199

Register Free To Unlock Unrestricted Access To PropertyInvesting.com

×
1-Day Millionaire Mastermind Workshop - Only LIVE Training in 2019!