D>

I’m actually doing this now, there are some important things to consider:

* Goals – Ensure that you are both aligned as to what your goals are, if not, then you’re not going to want to do the same thing and make the same decisions.

* Expectations – Set expectations early, be honest about what you expect from each other. You don’t want…[Read more]

D.

My brother used a company called Business Sight, they specialise in setting up tradesmen who operate as sole traders or small businesses and turning them into businesses. Their hook is “Be as good in business as you are at your trade”.

I’m not sure whether you’re a trady or not, but I know that these guys have worked in other areas and with…[Read more]

Let me know if you want his details.

Dave.

We did a similar thing, essentially we came to an agreement with the builder to undertake certain parts of the construction of a townhouse. In our case we undertook the framing, tiling, and some other work as we have team members with those skillsets. The way that we worked it is that essentially we will be sub-contracting to the builder, he…[Read more]

((Weekly rent * 52) / Purchase Price) * 100

So for the above property

((410 *52) / 359,000)*100 = 5.9837 OR 5.94 rounded up.

Cheers

Dave.

That being said, its not my cup of tea, but I know many investors…[Read more]

Let me know when you’ve got some for sale and I’ll have a look, always need new ties .

Cheers

Dave.

The units I’m looking at have quite a good rental return, but horses for courses, unfortunately no one has a crystal ball.

I’ll email you through the info…[Read more]

Just on your comment on cap growth, the Herald Sun 8/12/2006 pg 21 states that Carrum Downs has had a capital growth shift of 40.3% growth over the last quarter. Looks like your friends may have bought during the level out and its back off again.

Dave.

D.

I can recommend our mortgage broker, his name is Graham Evans, he’s been an investment banker so has a good understanding of what banks are looking for when analysing investments, helped us out when putting some deals to the banks to get finance, also dealt with many other property investors from the banks side and from the investors side…[Read more]

A very broad question, different strokes for different folks.

All my ties are silk, patterns vary including plain colors, stripes, dots, zig zags, pinks, blues, whites, etc. I’ve got a heap of them.

I think that your type of business is going to be at the mercy of the ever changing fashion industry, the ties that I bought last year aren’t…[Read more]

my step dad put in a timber deck, more a floating floor over a concrete area next to his spa, the area is probably 5m by 5m, from memory it cost him more than $5k and we did all the labour.

It will vary depending on the decking area, the height of the deck, the type of timber you use, roof/covering, hand rails, etc.

If you’re in Vic, my…[Read more]

Purchase Price: $17,000
Deposit: 20% (3400)
Loan: $13,600
Interest Rate: 7.65% P&I for 15 years
Property Management: 7%
Rent: $100 per week

Annual Outgoings
Annual Loan Repayments: $1526.88 (roughly)
Annual Property Management:…[Read more]

Some other things that you should consider are:

* Duration of the subdivision process, these will vary greatly from council to council. For example, I’ve just had one be approved in 3 months, but another council I looked in the waiting time was 12 months. So I could potentially get 4 subdivisions one after the other through the first council…[Read more]

Apologies for the delay, I’ve been traveling with work and have been offline. Heres a link to the calculator:

http://www.brdpropertygroup.com.au/buyandholdcalculator.htm

This will calculate yields, cashflow potential, etc.

Please note that this is still a beta version of the calculator, I’m pretty happy with the results so far, but if…[Read more]

I’ve got a few calculators on my website that do these sorts of things, I’ve got one for renovations (buy, reno, sell), one for cashflow (buy, rent, hold), one for development (buy, plan, build, sell) and some others.

If you can let me know which one you’d like, I will gladly send you a link.

Dave.

Wouldn’t it be better to find a property that can return you 6% return on…[Read more]

I suppose the question is what are you trying to achieve, if your goal when you started investing in property was to generate $100 k, then congratulations you’ve achieved your goal, take your cash and relax in the knowledge that you’ve achieved what you wanted to achieve, however if your goal is to generate $1 million, then maybe you…[Read more]

My brother may be interested in this, I’m just around the corner in Heathmont. Could you drop me an email with some details on the property and also if you’ve got a budget set, and you contact details so he can get in touch with you.

D.

Thanks in advance.

Dave.

I usually stick with the rule of pay professionals to do what they do best, I don’t…[Read more]

Not 100% on the date the legislation was passed, but in Vic this is the case.

I suppose its a case of do your DD in your state and…[Read more]

Check out this forum post, https://www.propertyinvesting.com/forum/topic/18300.html.

My advice, steer clear, do your own research and find yourself a good deal, but it is an easy way to invest, but most of the cream has been taken out of the deal.

D.

Your requirements are going to be very much dictated by what your goals are. I’d suggest that you talk to a solicitor regarding your requirements and also your accountant. You need to be careful how you go about things. For example if you set up a certain type of trust/company, you may not be able to distribute losses (if you’re…[Read more]

10% seems pretty high for property management fees, we negotiated down to 6% as we were building a house at the back and the property manager wants to get it once its completed, but her normal rates were around 7%. Its a very competitive industry, so negotiate, advise them you are a property investor in the area and are looking for a…[Read more]

Restumping can cost as much as $5000 (from memory)
Rewiring can be quite expensive, budget for a couple grand depending on the quality of the board and existing…[Read more]

Could be wrong, I’m still pretty new to the game, each to their own.

D.

Long story short, you can build over SOME storm sewers and easements, not over pits, and if you are planning on building over them factor in quite a bit to pay for the additional expense. Have a chat to the councils planning/building department, they’ll tell you real quick what you can and can’t do specifically with your block, then…[Read more]

There are plenty of tools out there to help with tracking rents, expenses, etc with regards to property, but the question is is it worth managing your own IP. In my opinion no, I suppose the whole “To get a property manager, or not to get a property manager” is a bit like insurance, you don’t need it unless something goes wrong.

If…[Read more]

Something to think about going forward, people can buy/rent new…[Read more]

“I invest for capital growth, cashflow allows me to hold onto the property, capital growth makes me rich”

Sounds like a good idea to me. My primary purpose is to generate long capital growth, but I also have some good yields which allow me to hang onto them. Wash rinse repeat.