HomeBuyerLouisiana replied to the topic Best advice : Don’t invest into property : The australian market is CRASHING. in the forum Help Needed! 1 year 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! 1 year, 1 month 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]
I think it is always a good time to invest, the question just is where is the best place to invest now. If you think prices in the market you are interested in are going to drop then make offers based on your predicted prices. If they accept you offer and your prediction comes true you are covered and if the price drop doesn’t come then you bought…[Read more]
HomeBuyerLouisiana replied to the topic Brisbane Property Networking Group Meeting – Tuesday 26th May 2020 in the forum Heads Up! 1 year, 4 months ago
This is a positive effect of Corona. I own 3 rentals around Brisbane and am interested to hear what is happening the market. I live in New Orleans, Louisiana whoever and miss all these meetups. At least this one I can attend.
Moving is one of the worst things to do. We moved from Australia to New Orleans a couple of years. The good thing was I always rented where I lived and bought investment properties in other areas (I lived in the Eastern Suburbs of Sydney so this was a much better strategy for me). This made it easy as I just sold 95% of my stuff and shipped 2…[Read more]
We are still buying houses during the Corona Crisis. We have updated our process to minimize contact with home owners but still allow you to sell your house fast. You can see details of how we can changed our processes here https://homebuyerlouisiana.com/we-buy-houses/orleans-parish/uptown-new-orleans/we-are-still-buying-houses-during-the-corona-pandemic/
I own 6 properties in Australia. They weren’t hard to find, once I researched and identified the area I used Realestate.com and a local property manager to check out the properties for me. That being said the returns aren’t great in Australia so it is hard to find great investments. I know live and invest in the USA as the cost of living is lower…[Read more]
HomeBuyerLouisiana replied to the topic What will be the impact of Corona on the property prices in Australia? in the forum General Property 1 year, 5 months ago
I think it depends on the impact on unemployment. If a lot of theses job losses don’t bounce back then this can cause defaults and fire sales or properties and foreclosures. This will have a negative impact on property prices. If the jobs come back fast and the economy is intact then it won’t have much impact.
If you are buying this house to live in then I think only you can answer the question. It is obviously a personal choice of where you want to live and not an investment decision.
Sydney is super expensive to buy in but the rent relative to the price is low (yield). Another option is to rent where you want to live and buy an investment property.…[Read more]
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