Hi Tugger, make sure landscaping is really going to bring the additional dollars, do some research on similar properties, talk to a few agents and get them to appraise the property and ask what features are "selling" at the momet in the Hobart market. You could even "list" the property for sale in the local paper (tiny classified add – private…[Read more]
Hi Mariegold, buying a house is easy as long as you can afford it. For example $10K is 10% deposit on a $100K property. 5% on a $200K property, etc.My point is, it all depends on how much you earn (your ability to service a loan), and how well you have managed to stay out of debt (credit card, car, furniture, etc).
JONCHU replied to the topic Info/Books on Developing Units/Townhouses, Subdivision etc??? in the forum Help Needed! 15 years, 9 months ago
Hi Mixedup, Ron Forlee books are a great starting point.In regards to building costs, you wont find them in texts. The easiest way would be to talk to builders in your area. Just ask the question.I have built in the past at around $1000 x sqm (mythical in some areas).Happy investing
It is also important to understand that accumulating properties is just one aspect of full time investing, however like any other successful business you need to sell something. This is what full time investors do, I do. You have the properties that you hold for your long term wealth/goals and you sell some others via wraps/lease…[Read more]
JONCHU replied to the topic Is this how to upgrade your own home with the help of an ip? in the forum Hi Elly, this is a very 15 years, 10 months ago
Hi Elly, this is a very personal question.Is there any way you can do an extension to your current place, get it revalued and leverage into IP?With the extension you may also have that extra space you need for your children, etc. See, you have no guarantee that your purchases will grow up X over the next few years, the only thing that is…[Read more]
JONCHU replied to the topic Legal Structures giving me headaches – Single with Business & Want to invest. in the forum Legal & Accounting 15 years, 10 months ago
I would aim to keep the business separate from the properties (in a different entity), just in case one goes down, the other venture would be "protected".
Terry is right, you do need a Buyer's agent license. In regards to being a spotter, what do you consider to be a good deal? what is your experience? How many IP's do you own or have negotiated in behalf of clients?
I am with Devo76, you only need a handful of properties to set yourself.Surely, Russell Crow’s Cowper Wharf $16 mill. apartment is not going to be worth $32 mill. In 7 years (using the mythical 10% growth), however as we saw in the last boom between 2001 and 2004, properties that had a lower base, had a more dynamic growth. They had “ro…[Read more]
Hi Wealth4life, current property data supports what you are saying/hearing. I would also use what happened in Melbourne as an example, the inner city, more affluent areas had a great run, while the outer/greater Melbourne area did just ok. Finding that middle ground is where the money is… Happy investing
Hi Macnatt, mackar has described the process quite well. I would also follow his recommendation on getting a professional to do it. Bear in mind that “greedy” professionals would want to re-do all the stumps, however this may not be necessary. Get a couple of opinions/quotes. Also sometimes, depending on the situation, you can get away by just…[Read more]
Hi there, here are some stats on Bellbird Median: $242K12 month median growth: 13.5%10 year avg growth: 11.1%Median rent: $190p.w.Gross rental yield: 4.1% Source: Australian Property Monitors I have a few IP’s in the area, and one specifically in Bellbird. Couple hours from Sydney and half hour from Newcastle, it is just a matter of time, me t…[Read more]
JONCHU replied to the topic Keeping tenants when using Steve McKnights buy and hold strategy in the forum Creative Investing 15 years, 10 months ago
Hi there, I like to see it as bunch of Gazelles traveling in a pack as opposed to one gazelle traveling by itself. If the pack gets attacked by a lion and one gazelle dies, it does not really matter as there are many others in the herd to breed and keep going. If there is only one gazelle and gets attacked by a lion, ………. How does this tra…[Read more]
Hi There, the vacancy rate is on the higher side. Maybe you could do further research to work out which type of houses and areas are attracting long term renters, etc. You can do this by asking the agents. Try 2 or 3 different agencies and this should give you a good indication. You could also “beat” that average by buying a property that is alr…[Read more]
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