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I specialise in Internet marketing for real estate agents and this is a very complex topic if you want to go hard on generating leads online.
I've wrote an article for Real Estate Business http://www.rebonline.com.au/blog/6718-jhai-mitchell-how-to-generate-leads-from-social-media-marketing-indirectly to help real estate agents understand this area of marketing as most of them don't.
If you would like to generate leads directly online I recommend you create a WordPress blog with landing pages and a Google ad words pay per click campaign. I made $25,000 in less than three months using this strategy but now it takes a lot more effort to set up.
I recommend you invest your time in calling and is looking up the costs. It is best to get as accurate as possible even in the do diligence phase rather than settling for a rule of thumb. When you're looking at something This size you have to be even more diligent with the numbers.
Costs will range from council the council and you will be surprised at how this can all add up. I know it's a lot of work but it's well worth it and it will help you guesstimate in the future as well.
I find RP data helps along with this and you can pull out all the prices you want to get more detail. Just keep in mind most of RP data is out when it comes to the square meters of a property.
I am currently getting $290 per week for my granny flat you might as well not call it a granny flat it is pretty much a self-contained unit. This is more attractive the renting a unit because I've sectioned off the backyard to give the tenants their own privacy.
Also there is no stairs and the property is only been shared with one house and gives the tenants complete privacy. We live in the front house but were looking renovating that and renting that out as well that will go for $380 per week there is so much you can do when you think creatively.
I suggest Kimberly you think about your desired outcome and that you screen your tenants with the utmost diligence.
You just don't want anyone living in your backyard.
Also check out one of my articles about what can help you attract a tenant and where you should spend your money. http://realestatesevenhillsnews.com.au/2013/02/4-secrets-to-what-attracts-a-tenant-to-a-property/
we have done exactly what Jamie has suggested.
Now we are sitting on $100,000 worth of equity and about to buy our second property after one year. We should be able to buy a third property next year.
I see many people commenting on forums saying “Sydney as a whole is way overpriced for what is selling” and "Sydney house prices are depressing…"
Where we all want to live, well most of us!
I can sympathise that most people simply want the commute between work and home to be shorter, but these days we also want a great school for our kids and to be close to our family/friends. Our mentality has changed because we also expect to step out of our door and walk to bars, restaurants and the train station.
This is a lifestyle factor and some of us have accepted to live in a shoe box or pay big bucks for some breathing space. This lifestyle factor has become such an ingrained way of thinking. People are even starting to think nothing exists past Parramatta, such as mobile phone coverage internet and connections.
A good example of this is a comment in reply to city people complaining about Sydney house prices “It almost sounds like they have not moved from the city for decades and still think that the city is the centre of the universe and that nothing else exists.” He also added “Or is it that it is still the centre of the universe for many people?”.
I have not had any dealing with her, but her book is fantastic. I sounds like she really knows her stuff.
If you have a "10/20 years time" out look and you really want to make sure you lock in that capital gain.
you can do this 2 ways;
1) Ad a higher or better use to the property/land (renovation/build)
2) Do your due diligence and focus on local Infrastructure
I break it down how Infrastructure leads to property growth in my article about Blacktown.
This think the key to unlocking the code to getting in with us Real Estate Agents is to show us how we can keep our commission when putting together a sale with a problem property.
1) If you can do this and make it a simple to understand process
2) find a solicitor that will help move the whole thing along with out killing the sale
I think you would be onto a good thing and us agents will start taking note and doing business with you guys!
You will probably want to go on RP data and look at Days On Market and double check that they have sold if not dork knock them or direct mail them! that should get you on the right track.
Can you suggest any Podcasts especially for "Words that Work"? I think "I love Marketing"is a great one!
Try http://www.gumtree.com.au with the ad. you can specify the location.
"Do you have any properties for rent that came back to you after they didn't sell?" great question!
This would work in most cases
It is so true, and mostly slow at getting contracts together and kill many sales!
Happens every in real estate, it's hard to find a good one.
I asked "What is the cheapest, high demand, positive cash flow real estate you have found?" (From james) "Hi , Im pretty much focused on commercial property , theres so many good deals out there . Just before xmas I helped a guy get his first comm property showing over 12% net return , was at 330K , so affordable. Hes paying about 6% for his money so its cash flow positive from day one. I think you do need to focus on one area/type of property so that you can know a lot about it and this makes it easier for you to get a bargain, high cashflow deal"
james
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There has been issues in the past were people have taken phones of the security system and been robed after the home open.
TheFinanceShop wrote:Any restrictions in terms of finance or onselling it? Have you also seen the strata report?Regards
Shahin
They normally have lots of restrictions when it comes to on selling, please look at the fine print.
ara1234 wrote:I'm just looking for some advise what to do as i would like to buy my own house and an investment property within in the next year.
just looking for some advise and possible strategies to archive my goal.
Before you sort out all of the loan issues (which sound like you will not have a problem) you need to decide what sort of investor you wish to become?
Do you want to invest for Positive Cash flow, Negative cash flow, renovate & sell, Subdivide or develop. These strategies are very different from each other and require a different skills set.
Of course you can learn these skills sets but you first need to master one strategy before moving onto something different.
For more information check out this airticle 9 Steps To Successful PROPERTY INVESTING.
Hi Boshie,
This may help.
PLC wrote:This will allow you to maximise your deductible debt while paying off your non deductible debt quicker, and allowing you to save money for your future PPOR.
On another note, if you are only gone 5 years as you suggest and sell your house when you get back to buy another one then you are eligible for CGT exemption.
mkbonline wrote:I am finding it really difficult to find a positive cash flow property even in Western suburbs of Sydney.
I can't see how you are finding it hard to find positive cash flow property?
I admit it is hard to find one with a 10% yield already built into it.
I find with Western suburbs of Sydney (Toongabbie/Blacktown) you need to find the value I.E. a half finished granny flat or one needing updated.
A quick renovation a boom instant cash flow!
