[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 21, 2007 - 9:14 am

Hi Troy,

Sorry I have not read those books written by Steven, but I will love to.

Are you refering to the MasterClass Pack or book?

Instead, I have read books by Robert T. Kiyosaki (rich dad poor dad series) and Dolf De Roos (Real estate riches : how to become rich using your banker’s money )

Time for me to get educated.

Thanks

Originally posted by troynbec:

Hi eforce
if you havent read Steve’s new book 0-260+ properties in 7 years then i suggest you do. it will help to provide you with some finetuning of strategy, if nothing else.
i hope this helps a little

Troy

TroynBec

You can have more than you’ve got because you can become more than you are

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[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 19, 2007 - 7:29 pm

Quite a quiet thread.
Any other comments.

Sorry if I am too defensive, just will like to share with you all how I decide on my investment.

Thanks, any comment is welcome.

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 19, 2007 - 7:26 pm

Hi cassco,
Congrats on your point cook investment. Care to share your rental return for your unit? And which development you bought?

Thanks.

Originally posted by cassco:

I just finished building a house in point cook and am renting it out.Built for 300k now worth 350k and that is a 3 bed 1 study so 4 bedroom for 350k sounds right to me.There is still alot to come from this area so I would say it is a more long term thing.But there will be a mall with cinema and cafes being built and the beach aint far and melbourne’s best marina with the project being around 200 million to start soon.I also live in neighbouring suburb Altona Meadows.

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 19, 2007 - 7:19 pm

Any one attended the group meeting? Any information to share?

Thanks.

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 13, 2007 - 5:00 pm

I am also a beginner investor.

As I am a oversea investor, I can only look @ new development.
I hardly could find a development with positive cash flow without having to put in a lot more for downpayment.
[party]

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 12, 2007 - 10:54 am

Another thing to add is that I am a not an Australian. I am a foreign investor, whom have visited Melbourne several times (as a tourist) and now very interested in investing into it.

I am not trying to speculate my local stock market, but I just hope to diverstify. Basically take some profit and reinvest it somewhere.

After going thr a few developments, below are the reasons why the Service Apartment at St Kilda still attracts me.

1) I know that it is not very wise as this service apartment does not allow me to leverage (to the max) and use OPM (other people’s money). However, after looking thr quite a few new developments this one can provide me with quite a good positive cash flow (note: for oversea investor, we are not allowed to look at re-sales market)
Generally, most of other development will require me to top up around 300 – 500 monthly if I take up 90% loan.

2) Being new to real estate investor, I thought getting a service apartment and allow a professional to manage the property is a good choice. Moreoever, they are able to give me guaranteed at least 6% net yield for the first 2 years and 6 + CPI for the next 3 years. That make it less risky, and allow me to do my sum easily

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 12, 2007 - 8:09 am

Perhaps I should share more of my investment objectives.

Basically I am 30, married without kid. Below are a few of my investment objectives
1) Diverstify from my stock investment (hope to cash out some profit and redirect them to another asset class)
2) Learn about Property investment (this is our first investment on real estate)
3) Slowly building our retirement nest egg. (hoping to build our multiple income source, providing us with some passive income)

Thanks.

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 11, 2007 - 7:19 pm

Thanks for all the comments and suggestions.

Other opportunities that i am also looking at residential houses at Flinder Street, Cook Point and Truganina.

Another question I will like to know if it is a good time to invest in Melbourne?

Thanks.

Originally posted by sanjivgupta:

Hi eforce,
I agree with HookamC. You can make a lot of deals cashflow + by putting in 35% deposit.
You also need to consider the capital growth prospects. Serviced apartments usually have long leases and the capital growth is usually limited. There is not a lot you can do to increase value of the property for both rent and capital growth.
The agent/developer is throwing in the stamp duty, legal fee and Title deed registration fee because its already factored into the price. I doubt they are doing it out of the goodness of their heart.
You are better of investing your money in some safe investments that will give you around 8-10% return.
Sanjiv
*******

“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela

[eforceMember@eforceJoin Date: 2007Post Count: 10]

February 10, 2007 - 6:54 pm

Hi Marc,
Thanks for your advice. Will you be able to share some lights on the do and don’t about service apartment?

I quite interested with the service apartment, because of the +ve cashflow after putting in 35% downpayment. The rental return is able to cover the loan payment after substracting some expenses.

Most of the on-going expense is already covered by the operator (i.e. body corp fee, mgt fee and insurance). The agent/developer is also willing to throw in the stamp duty, legal fee and Title deed registration fee.

Thanks.

Originally posted by L.A Aussie:

Be very careful.
6% is not a good return for a start (to me). You can get nearly that in an I.N.G account with no risk.
Hard to get finance if the apartment is not over 50 sq/m.
High manangement/holding costs.

Read Margaret Lomas’ books and see sections on Serviced Apartments.

Cheers,
Marc.
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“we get sent lemons; it’s up to us to make lemonade”