Forum Replies Created
You would probably encounter the same problem they have highlighted above.
Lack of data to compare rental yield history and one of the things that I hate about it is the shortfall in valuation of the property once built. Mainly for the same reason, lack of comparable sales around the area given that it is a new estate.
House and land packages could work very well for you if you know the market really well. There will be a lot of research involve though and also verifying those data that you have been researching is another factor to consider. Another problem is the price of the property stays stagnant for a few years as mentioned by bardon. Without knowing much of you situation and what you are trying to achieve, try comparing the numbers with existing properties and go back and compare it to your house and land planned purchase.Cheers,
JerryJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
i normally use the filters integrated with the search engine. For example, i will first find out how much I can afford then determine how much I want to spend. add the price range filter and search by suburb. This is after doing the macro research and I have pinned the area I want to invest in.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Hi San,
I am an investor based in the Eastern suburbs of Melbourne. What exactly are you trying to achieve? A group research?
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Excellent post as always Jamie.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
haha that’s a good one Richard.
I don’t think I will be giving tenants Xmas gifts as well. I attend to any matter that requires fixing quite promptly so I think that is the best gift I could give a tenant. Be a good landlord.
Cheers,
JerryJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Give them a Calendar instead with the rent’s due date highlighted clearly for each month. :D :D :D :)
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
@uhi-78 would you be able to share the details of your purchase?
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
just participate in the forums. there is also another one. (www.propertychat.com.au) and they post a lot of adhoc meetups organized by forums members. which area are you in?
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Why is the vendor so attached or too concerned with the tenants? Related party perhaps?
How many percent did you increase the rent from existing amount?Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Hi San,
Which area in Melbourne are you thinking of buying? Reason I ask is because BA’s specializes in particular areas. I would suggest contact a few BA in the area you are researching and see if you can connect better with one than the other. You need to really sit down with a BA and discuss your parameters like budget, goals, and other preferences in a property. A good BA is well worth your money spent I reckon. They are expert in their field and can also negotiate on your behalf. Really great for people who are time constraints. Also establish a good relationship with your BA so they can guide you on the research as well and learn from they journey as well.
Cheers,
JerryJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Thanks for the link Benny.
There’s a few meetups in Melbourne as well if anyone are interested. One on the west and one on the east side. Meets once a month.Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Try searching for the book Trust Magic by Dale Gatherum-Goss. I read that a few years back in our local library.
Its a really basic and easy to understand explanation of Trusts.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Hi Guy,
If you are willing to share the numbers here then I am sure a lot of people, especially finance brokers, can quickly respond to your query.
Cheers,
JJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Welcome aboard! :D
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Which industry are you working in? There are lenders who waives LMI for certain professions such as CPAs, Medico Professionals etc.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Which state do you need a BA for is what think Richard is asking.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
What’s the reason for moving? Most (read ALL) aggregators is still struggling to get their serviceability calculators even 90% accurate across lenders on their panel.
Cheers,
JerryJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
I agree with Colin.. Check the comparable sales in the area and compare it with what you are intending to purchase. I have heard stories of house and land package getting valued below the contract price specifically in Tarneit.
Cheers,
JerryJerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
You will find that it is more efficient for you and for your broker to be in contact via email/phone instead of driving to your broker’s office every now and then.
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
Thank you all for taking time to read my post. I appreciate your feedback and advices.
@shahin – I still consider investing on areas near I live (Liverpool, west Sydney). If the numbers are better interstate, I'm keen to go ahead with that too. Cheers!
@jamie M – BA is at the top of my list if i am to invest interstate. I am focusing on research for now and knowing what look for. Thanks for the advice!
@derek – I have spoken to a few brokers which are also in this forums. They gave me an indication of my borrowing capacity. I keep that in mind to filter the areas that I can afford to invest. Thanks for the advice mate! Appreciated.
@se7en – Well said. Cheers mate!
Jerry | Mortgage Station
http://mortgagestation.com.au/
Email Me | Phone MeFinance Strategist - Active Investor - Serving clients Australia-wide - Based in Sydney / Melbourne
