I don’t think you can answer that in a general sense. Get a professional inspection report and assess the subject property according to it’s condition rather than its age. I own a 160 year old house in New Orleans but it was rehabbed 5 years ago and in is good condition. You might find a 30 year old house in much worse condition.
HomeBuyerLouisiana replied to the topic Investing In Las Vegas and current US housing market in the forum Overseas Deals 2 months, 3 weeks ago
Personally I think the best buying time is soon but not now. I am from Sydney but live and invest in New Orleans. The markets are really hot over here mainly because supply of houses was hurt by Covid (and yes interest rates help). Supply will come back and even out and there are a lot of grey clouds on the horizon. There are a lot of people on…[Read more]
I just got sent a personal message from a user on this site, see below.
“Good day Friend.
I need your assistance to move the sum of $26Million USD from my bank to you for investment project, i work with Hang seng bank Hong Kong Please reply for more details of this business deal.
Great article about how the CDC’s ban on evictions is affecting landlords in the USA – http://exclusive.multibriefs.com/content/how-the-cdcs-ban-on-evictions-affects-small-landlords/civil-government. What sort of restrictions are there in Australia right now and where do you think is going?
HomeBuyerLouisiana replied to the topic Hello Everyone, this is my first forum. here to share and learn in the forum Heads Up! 4 months, 2 weeks ago
Glad to have you on the forum. I look forward to your contributions. What areas do you build in?
HomeBuyerLouisiana replied to the topic Best advice : Don’t invest into property : The australian market is CRASHING. in the forum Help Needed! 4 months, 3 weeks ago
This thread has been very enjoyable. I think you are baiting people with your comments but do agree there are some strong headwinds. A good investor makes money in up and down markets. I am in the US now and the market is on fire due to low supply. This has been good for me flipping homes. I don’t think it can continue so if it turns I am ready to…[Read more]
I really think you should should a professional inspector. They know what they are doing and will identify all the issues. They also have credibility so if they identify significant issues you can use it to renegotiate on the price.
HomeBuyerLouisiana replied to the topic Seeking architect recommendations – South east Melbourne in the forum Help Needed! 5 months, 1 week ago
You will find lots of vetted architects on http://www.hipages.com.au. That is a quality site for connecting with home professionals and tradies.
Just to extend on your option B, once you up the house and rent it out you should have created some equity. You could then refinance out that equity to buy another similar house to do up and keep repeating. This is the benefit of buying cheap houses with cash and creating value. Get with a wholesaler in that area who could probably show you great…[Read more]
I haven’t had the same experience so not sure if you have just have had bad luck. Perhaps get them talking by asking some questions about a listing and then shift the conversation to the general area and market.
Hey Steven, I have properties in Geelong and Melton but bought them a few years ago and am out of touch with the market. I like you strategy, it is really common in the States, they call it BRRRR. This stands for Buy, Renovate, Rent, Refinance, Repeat.
It sounds like you are in a good position to invest and your plan sounds reasonable. If you feel comfortable with that I would start on the path. As you progress you might start to see more options but don’t spend all your time looking at that now. You could be more aggressive and use the equity you are building. When you pay off the property and…[Read more]
I think the biggest technology disruption right now is remote working with Zoom etc. This is going to change the commercial property space significantly and to a lesser extent the residential maker as people don’t need to live where they work. Obviously online shopping is already impacting the retail sector. I also think block chain will disrupt…[Read more]
I believe that Stamp Duty is the same but you won’t get any concessions on land tax you pay. As an individual most to the states have thresholds for when you start paying land tax but as a trust you don’t get that. Probably best to chat with your accountant about your structuring before entering the transaction.
Personally I think you should look all over Australia for the best market. I grew up in the Eastern Suburbs of Sydney and always rented where I lived and bought in the best markets. I have 6 single family houses in 3 different states in Australia (all in different local council areas). I recently wrote an article for hipages about buying and…[Read more]
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