[Jason StaggersParticipant@jason_staggersJoin Date: 2006Post Count: 61]

June 22, 2016 - 4:42 pm

Good questions there from @terryw. First decide whether you’re a growth investor or income investor. In light of current rental yields, unless you’re sitting on seven figures of cash, you’re probably a growth investor.

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June 11, 2016 - 9:23 am

A few questions…

The majority voting Coalition, is it mainly about keeping negative gearing and CGT tax concessions?

If you’re not fond of any of the above four options, is there any other party worth empowering? If so, why?

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May 11, 2016 - 11:20 am

Unfortunately, rental vacancies are at an all-time high now in Perth, about three times that of the long-term average. This is pushing the median rent price down, as tenants have a lot to choose from. It’s definitely a market-wide problem, so not necessarily your property managers fault.

Market pressures will make it tough to increase rent, so you’ve done the right thing by trying to add value to attract tenants while also dropping the rental price. See who your competition is and look for other low-cost, creative ways to attract tenants – add A/C, a week or two free rent, etc.

If you decide to sell, you may want to act fast as other investors will likewise be weighing up how to solve the same problem. It’s already a buyer’s market, but if supply increases, prices could drop further.

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April 12, 2016 - 4:52 pm

Sometimes “if next door has done it” is not a good thing. Some councils have rules about not developing too close (say within 50m) of another multi-unit development. But assuming the builder you spoke to knows the area, proximity may not be a problem.

Minimum lot size requirements only pertain to freehold (Torrens) titles. If it’s a shared title, which this development likely would be, the number of units you can fit will mostly come down to setback and private open space requirements.

Your best bet is to put together a visual concept of what you’re hoping to do and take it in for a pre-lodgement meeting with council. Depending on who you meet with, you should get a pretty good idea of what’s possible and where your potential road blocks will be. If nothing else, it will be a great learning experience.

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March 8, 2016 - 2:51 pm

@deancollins I’d say the recent jobs report is mostly smoke and mirrors – many of those new jobs are low-paying and part-time in hospitality and retail. Don’t see another Fed rate rise coming myself.

• This reply was modified 8 years, 2 months ago by  Jason Staggers.

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February 3, 2016 - 10:46 am

Looks like you’ve received some good advice @ameetvbhat, but here’s an article I wrote on the topic last year:

https://www.propertyinvesting.com/the-dangers-of-cross-collateralisation/

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January 5, 2016 - 1:21 pm

Tracey, have you looked into Steve’s McKnight Property Apprenticeship course? Whether it’s his training or someone else’s, I’d suggest educating yourself. Private message me and we can set up a complementary mentoring call to discuss your situation and your options moving forward.

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December 16, 2015 - 11:41 am

It’s hard to outsmart the big banks. Even on the interest free period, they make their money on the average person’s lack of self-discipline.

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December 15, 2015 - 10:45 am

Hi @brigadoon. I wrote about this earlier in the year. Let me know if it answers your questions. All the best.

https://www.propertyinvesting.com/will-investors-soon-lose-negative-gearing-cgt-benefits/

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December 11, 2015 - 5:32 pm

Just be aware of any speculative assumptions. Make sure your worst case scenario (market downturn?) doesn’t leave you in a dangerous place. Another option is to realise your gain and lock in the profit.

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December 4, 2015 - 4:33 pm

7 percent plus GST is an industry standard, but the best way to find out is pick up the phone and call three different property managers to ask. Keep in mind management fees are negotiable, but you often get what you pay for. Get a referral from a trusted source if possible. Find a good one and build a relationship. Then after a year, you could always shop around for some comparison quotes and ask them to lower their fees.

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December 4, 2015 - 4:22 pm

Not to mention $135k fine to developers who market apartments exclusively overseas. Ouch!

https://www.propertyinvesting.com/a-little-less-love-for-foreign-investors/

Oh, and maybe even three years in prison!

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October 27, 2015 - 5:23 pm

Yson wrote:

well, i bought into mining town in QLD in May 2015, wait 2 mths to rent out after slashing the rental.

If rents are still sliding, that means values are still falling. Thanks for adding to the conversation Yson.

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October 22, 2015 - 2:30 pm

If you have the ability to service the debt have you considered picking up a few bargains in the same town eg to use the same PM in order to average down your costs?

NAB lowering their LVR requirements for mining town purchases could be seen as a bearish sign. I’d say downside risk remains. But for anyone who disagreed, they may answer “yes” to “Would you buy that property today at it’s current price?” in which case holding would fit their opinion on the market. My point is hold because you have a strong reason for a bullish outlook, not because your ego can’t handle admitting failure. My experience mentoring mining town investors has taught me that most continue to hold for the latter reason.

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October 21, 2015 - 12:53 pm

Would you buy that property today at it’s current price? If the answer is no, then why would you continue holding it, other than the emotional pain of admitting failure? Psychologically, you’ll make a better decision if you can consider the loss in value as money that is gone forever. Otherwise, you’ll be tempted to hold onto it in hopes of a recovery, which would amount to little more than speculation.

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October 21, 2015 - 12:45 pm

Sam, did you read this article: https://www.propertyinvesting.com/how-a-young-property-developer-is-making-hundreds-of-thousands-in-profits? You may find it inspiring.

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October 6, 2015 - 11:56 am

Thanks @dtraeger for clarifying. @sev6968, because Aussie property has become so expensive relative to rents, unless you’re earning a lot of money from your job or business, adding a significant amount of passive income through real estate over a 12 month period is going to be difficult. As you may have read in Steve McKnight’s book, From 0 to Financial Freedom, the blueprint for the current market is to use quick-cash strategies to manufacture growth and build a large capital base. Then you can reinvest your equity into debt-free higher yielding assets, like commercial real estate. Of course, if you have 15-20 years or more to reach your income goal, and you’re a disciplined saver, you can choose a more passive investing approach, like buying and holding positive cash flow properties and hoping the market delivers some of the gains.

• This reply was modified 8 years, 7 months ago by  Jason Staggers.

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October 1, 2015 - 4:54 pm

I wonder what the median house price was in the area before this “lot of nine” sale.

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September 28, 2015 - 10:01 am

It’s interesting to see nearly as many concerned about government regulation as economic trouble overseas. What changes in regulation do think investors should be most concerned about?

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July 10, 2015 - 3:27 pm

Scus wrote:

Does steves course offer unlimited lifetime mentoring or access to mentors for one on one? Also does it/he also help with targeting & finding the right areas to invest in? Am looking at it myself for a later date, there are quite a few around & it’s hard to try & work out which one will work for me etc.

Hi @scus101. Thanks for your questions. The mentoring course (see my reply above to @asou) includes one on one mentoring for the duration of the course – 12 months. This involves both help applying what you’re learning from Steve as well as deal specific help. We have multiple sessions on researching and assessing areas and properties. Developing a strong due diligence process is one of the greatest benefits of the training. Feel free to get in touch with me personally if you have any other question. Cheers

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