Total Members: 158,306

Catalyst

  • Catalyst replied to the topic Anyone heard of binvested buyers agent ? in the forum Help Needed! 7 years, 10 months ago

    Good point Buyers agent.
    Yes Jeta, no-one gets it right all the time. As mentioned, I was extremely happy with my purchases Nathan sourced for me 2009).
    I can’t comment on his purchases once he went out on his own. Mu opinion is that he grew to big too fast. It’s hard to keep up with demand and keep finding good quality properties. I know people…[Read more]

  • Catalyst replied to the topic Anyone heard of binvested buyers agent ? in the forum Help Needed! 7 years, 10 months ago

    I met Nathan when he was a buyers agent for Right Property Group.I purchased a few properties through him. He is one of the nicest guys I have met but i won’t go on about that.

    I haven’t been to Right Group meetings for a few years. They used to run fortnightly meetingws for $10. They shared information and talked strategies etc. There was no…[Read more]

  • Catalyst replied to the topic Anyone heard of binvested buyers agent ? in the forum Help Needed! 7 years, 10 months ago

    I see what you are saying and I agree in a way. When getting advice you need to ask “what’s in it for them”.

    You are wrong about Nathan though. I know him personally and yes he could just do nothing if he wanted. He does not NEED to work. Property is his passion. He lives and breathes it. He works on his terms, ie when he wants to.
    You need to…[Read more]

  • Catalyst replied to the topic Anyone heard of binvested buyers agent ? in the forum Help Needed! 7 years, 10 months ago

    Why don’t you do one of their MAP sessions to help you with strategy.

    Or give Right Property Group a call for a strategy session.
    I’m saying this in regards to your other post as you seem to need guidance as to what is the best strategy for you.

  • Hi, why are you choosing to follow this strategy?
    As mentioned 3 X $300k properties paid off will not allow you to retire.
    Let’s assume 5% yield, that’s $900 a week rent MINUS agent fees, rates, insurance etc. Even if 20% that leaves $720 a week which you have to pay tax on. And that’s not accounting for maintenance, breakdowns etc.

    There are…[Read more]

  • Catalyst replied to the topic Cosmetic Renovations in the current economic environment in the forum Value Adding 8 years, 6 months ago

    If you buy well it shouldn’t be a problem.
    We have mainly bought, reno’d and rented. We buy cheaper properties and do a complete reno. We have typically increased equity $3 for every $1 spent. And rents have risen, making them CF neutral to CF+ so you are in a better position than before you started so why would the bank say no more?

  • Catalyst replied to the topic Young potential property investor in the forum Help Needed! 8 years, 9 months ago

    What do you mean by low? If It’s cashflow positive, that is NOT low. Are you basing this on 100% lend? or on 80% lend? Are you countin g all outgoings? or only interest?

    The property not rising in 3 years can mean nothing. It may be ready to take off.

    Take Sydney for example- There has been 100% growth in some areas in the last 4 years. Now…[Read more]

  • Catalyst replied to the topic Same bank not cross collateralised, is this possible? in the forum General Property 8 years, 9 months ago

    I had 4 separate IP loans with Comm. When I refinanced all the loans came back with every property listed on it. I told the broker (from the bank) that I did not want them crossed. She assured me they weren’t. HELLO!! It says so on the paperwork.
    I refused to sign them. She had to go back and change them so each loan onl had one property listed…[Read more]

  • Catalyst replied to the topic Best Auction Bidding Strategies in the forum Help Needed! 8 years, 9 months ago

    Good advice HiMungus.
    Personally i dont like being the center of atention so never bid until bids stall snd it looks like smeone else is going to win. Let them beat it out and thrn jump in. Assuming it is still in my budget of course.
    People gt hyped up very easil snd ehen bids come wuick and fast people tend to get wep up snd bid eithout…[Read more]

  • Catalyst replied to the topic Understanding water fees in the forum Help Needed! 8 years, 10 months ago

    As mentioned it varies from state to state.

    In NSW you can pass on the usage bit if the property has it’s own meter.

    Lots of people avoid units/villas/townhouses because of the extra cost of strata.

    but if you factor in that you can save $10000 on insurance sometimes the extra cost isn’t that much. Yields are sometimes higher for units etc…[Read more]

  • Catalyst replied to the topic Start of our journey in the forum Help Needed! 8 years, 10 months ago

    I would not sell the Erskineville unit. It’s in a great spot. By the time you pay CGT, stamp duty to buy again you will lose half the profit.
    Keep it.
    Pity you have paid down the loan. You should be paying Interest Only with the funds going into an offset account
    Do that NOW!!!! If you had done that, the money you take out for the PPOR would have…[Read more]

  • Catalyst replied to the topic Start of our journey in the forum Help Needed! 8 years, 10 months ago

    I would not sell the Erskineville unit. It’s in a great spot. By the time you pay CGT, stamp duty to buy again you will lose half the profit.
    Keep it. I’m assumiong you are paying Interest Only with the funds going into an offset account?
    Use this money to buy the new place that will become your PPOR.

    Revalue Erskineville so you have extra…[Read more]

  • Catalyst replied to the topic Blacktown investment – what are the best areas there in the forum Help Needed! 8 years, 10 months ago

    If you need both capital growth and yield Sydney is not the place to be buying into.

    We are at the end of a boom which typically means very little (or even negative) growth for the next 5 years. Rents haven’t moved for a while, which is typical of cycles. Rents should begin to move in the next 12 months.

    I have properties in Blacktown and they…[Read more]

  • Catalyst replied to the topic Blacktown investment – what are the best areas there in the forum Help Needed! 8 years, 10 months ago

    If you need both capital growth and yield Sydney is not the place to be buying into.

    We are at the end of a boom which typically means very little (or even negative) growth for the next 5 years. Rents haven’t moved for a while, which is typical of cycles. Rents should begin to move in the next 12 months.

    I have properties in Blacktown and they…[Read more]

  • Catalyst replied to the topic Would you buy in a dodgy area? in the forum General Property 8 years, 10 months ago

    Have done and still do.Have not regretted any purchase I’ve made in My Druitt or Blacktown. All have doubled in price in less than 7 years (love you Sydney!!!).

    As long as you do your research and are not buying in the dodgy streets in the dodgy area.
    Also a dodgy area in a smaller town might not be any good. It’s about more than type of area.…[Read more]

  • Catalyst replied to the topic Noob needs help in the forum Help Needed! 8 years, 10 months ago

    Great advice by Kinnon. A also think surrounding yourself with like minded people is important.
    Networking is the key.

    Where are you located? Look up to see if you can find some local meetups (try Meetup.com) or on the forums. Some are formal type meets, others just meet and chat.

    I’d start with your local library. Borrow a few general…[Read more]

  • Too difficult to say without knowing how if the apartment is and where etc.

    We reno a whole house for $15K but we do nearly everything ourselves. Can you do anything yourself? Even the ripout saves thousands. If you can project manage it yourself (ie organise separate tradies) that will save many thousands too. The builder will have a % (usually…[Read more]

  • Catalyst replied to the topic Sydney kitchens going into rentals in the forum Value Adding 8 years, 10 months ago

    The copper pipes were ripped out by thieves so we had to replace some because of that, not because of the fire.

    We didn’t have to replace much wiring as the fire was only in the hall and a little bit into 2 bedrooms. The rest was only smoke damage.

  • Catalyst replied to the topic Sydney kitchens going into rentals in the forum Value Adding 8 years, 10 months ago

    I don’t have a URL, only photos on my computer so that didn’t help. sorry.

    I’ve done at least half a dozen. Here is a video we did of a burnt out property we renoed in 2011.

    Kitchen cost $2997 supply only.

    https://www.youtube.com/user/LovetoReno

  • Catalyst replied to the topic The real danger with SMSF property in the forum Creative Investing 8 years, 11 months ago

    My personal opinion (based on research but happy if experts disagree and can enlighten me further) is that it can be expensive if you are just purchasing one property.

    There are set up costs plus extra tax (accountant)fees at tax time. I raised the question with several investors and with my accountant. My accountant’s advice was if I was-…[Read more]

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Catalyst

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