•Buy under market value – Negotiate hard.This helps you create equity straight from day one
•Buy properties with development potential for now or in the future – High future value potential when rezoning
•Over time add value by renovating, subdiving, etc

Very sound points.

If I were to add something it would be on the cash flow risk side of t…[Read more]

•Buy under market value – Negotiate hard.This helps you create equity straight from day one
•Buy properties with development potential for now or in the future – High future value potential when rezoning
•Over time add value by renovating, subdiving, etc

Very sound points.

If I were to add something it would be on the cash flow risk side of t…[Read more]

You need to build rapport with tradies – not get them off side.

Haggle everything always.

The trick (and its hard don’t get me wrong) is to get a better price while maintaining a good relationship.

I also come from a building family. The trades time is money. The more time they have to spend on bs the less time for work. There are things you c…[Read more]

Okay so I have not done it for a while but I used to literally knock on doors, drop flyers and stick up notices. Learning to buy well is a super important skill. I don’t think you can armchair your way to success. Leverage other peoples time is great but letting others do it for you won’t work. Just an opinion though. Others may have had a…[Read more]

OO = owner occupied
SMSF = Self Managed Super Fund
NRAS = National Rental Affordability Scheme
PM = Property Manager

I think establishing savings behavior is critical for you at the outset. Finance with less than 20% deposit is common place among first time investors and and first time buyers but these tools should be used as part of a strategy to get ahead. With rates at all time lows people who are disciplined now are the ones who will be successful as the…[Read more]

I have a Martin Ayles course somewhere. Although I have just moved house but I am sure its somewhere.

I have two lenders I use (for practical and policy reasons) for family guarantor / guarantee loans similar to the scenario you have mentioned. No particular relationship at all is needed. May be non related subject to the strength of the application and applicants.

Hi,

* Move non structural walls in properties with wasted space to turn 2brm home into 3. – A lot cheaper than you would think. Increase yield and equity if done well.
* Introduce natural light – windows, skylights
* Subdivision – get to the approval stage without doing
* Find properties on the market (comps ) that you aspire to be like that…[Read more]

Hi Wiwin – you are right.

If you were to take as gospel some of the property investment tales you read then your expectations might be a little unrealistic. However, the keys are equity and of course income. Waiting for capital growth is a slow process and to move quickly you will need to buy below valuation. ( The hardest thing to do in…[Read more]

Kev,

Welcome. If it were me starting today I would buy IP first and look for property with two things: 1) Cash flows balanced where rent at least covers the interest payments, 2) Potential to manufacture equity through a value adding strategy. * Repeat *

Your residence will need to be near work, friends, family and you have a lifestyle…[Read more]

Hi Buddy Fox,

I grew up not far from there but having said that not really kept an eye on Woodbury. We have rpdata here in the office so if you want to know about a particular property and the ones around it you can send me a private message on forum and I will see what I can do by way of a CMA and suburb report for you.

Have to agree with Richard and Jamie in that as we are all investors here (the brokers and non brokers alike) hopefully your broker is spending more time on the phone with BDM’s than in search engines.

There is absolute merit in designing and siting granny flats so they they can be interchanged as either an investment earner but also as a family’s backyard cabin, teenage retreat or guest accommodation. It pains me when an investor buys a property which simply has bad separation and bad geometry. This I must agree is the destruction of a rear y…

[Read more]

The approximate value of property is $400,000 and we have equity of about $110,000.

Sald – would echo Richards comments only to add that as I often say to people lets start with an free RP Data report on your property and or free valuation to see what equity you actually have. You may be no need for lmi at all.

Mentors – such a hard question because it goes back to how you learn. If you have had any workplace education lately you may have come across learning styles debate. Peter Spann is someone I have read widely, I read everything Steve has published as well which is extremely valuable but again not new at all. To be honest I was very surprised about…[Read more]

Hi – from a construction point of view it is unlikely that your garage would have been constructed with the right foundations to support a second storey addition or granny accommodation. Only if it was mine I would get a builder around to sus out whether the existing structure could be converted. Make sure you account for there time in some way…[Read more]

There is a NZ forum a bit like this one. Olly Newland and Kieran Trass were very active. Kieran had a few difference business in the education and stats field. Last I heard Olly was doing mentoring – but that was a while ago.