Forum Replies Created
Hi Stevie,
Thanks for the reply, it great to see you are doing allot of research and reading.
Some people will agree and some will disagree with the following comment, For the last 15 to 20 years the property market went gang busters and investment growth was compounding at a crazy rate.
Some may say that the market has slowed down but in fact the market has some what decreased to normal levels.
So if you plan effectively there is no reason why you cant reach your goal and believe it not more wealth is generated in falling markets.
When people paint a doom and gloom picture I see it as an oppurunity to increase my wealth.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Bell,
-Firstly get in touch with a broker, Jamie is a really good operator and I highly recommend him.
– Doing some figures, correct me if I am wrong, be time you pay your loans, property management fees, council rates and other charges both IP would be cash flow negative every month?
If this is the case, do you think taking more debt on one income is the way to go? How about build your foundations on what you have already!????
From my point of view precession is the key to investing successfully, Sit down create a strong foundation and then build on from there!!!!
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Brmiau,
Hope you are well? Firstly good luck with your goal and its great to see people setting goals, So important in life.
These days there seems to be a rush in retiring or "working for your self concept".
For me personally I would never retire, I would get bored and I would drive my wife crazy. But having finical security is another thing and this is something i encourage to every one.
There are various tools and methods to create wealth and we live in interesting times as well.
you are planning to borrow 2 to 3 million to make 2K a week which = $104,000 income PA per year. Not a bad goal at all!!!!
But if you are looking at leveraging your properties to the HIll I am not sure if this figure can be achvied.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Rick Sta, I have to agree with you.
When we some times state an "opinion" some people see it as being negative "etc" but not all bad news is negativity, its some time just stating how things are.
I think preparing your self is a great proactive thing to do.
There will still be allot of opportunity out their but in different forms.
My biggest concern is the amount of personal debt people are carrying
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi,
Love your post!!!
I think you are right, I have a bit of shares in the Australia market and I am planning to sell most of my stock by end of week: why?
1) Earnings for most companies have decreased and it’s amazing to see how many business are running at a loss.
2) Our stock market is fed by “SUPER” and with this, it really creates a “fake demand for shares”. Most people who have super locked into a fund they are not even sure what shares they own.
3) Value of stock: The ASX has grown over 20% in a market where business have only grown 2% to 4 %. So a correction is due.
DEBT: Allot of people simply have too much debt, ranging from SMSF on property, car leases, personal credit card / Personal loans debt and massive home loans for both investments and personals.
This cycle is required and needed but in falling times there are still opportunities.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Steve,
Hope you are well?
Anything is possible but it all depends on the following, how much equity you have, cash and investing experience.
For the time being, ask you self this why do you need to buy 10 in one year? Why not start with one or two and then build from there.
Investing takes allot of hard work, patience and precession.
For me personally I have a small property portfolio that is doing quite well for me and over the last two years my goals have changed, My PPOR is almost paid off and my other IP has a very small loan of 130K and the house has been valued at 400K.
Some would suggest access equity any buy more property, but for now I would rather have a low loan to value ratio.
There are allot of ways to invest, so have a look at all the possible ways and choose a strategy that fits you.
Also looking at your numbers this is why I am not buying property at the moment, Most people talk about high yields but to me if your rent does not cover your repayments and property cost why would you invest your money in a assets that just breaks even or makes a loss?
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi,
I would personally stay away from this!!
1) Melton has allot of land for sale and there is no shortage of empty land as well.
2) Allot of people I personally know are looking at moving out of Melton for two reason:
– CRIME rate: The crime rate in this area is crazy
– Housing Commission: There area is being flocked by new housing commission tenants
3) Capital growth: No or minimal capital growth in the area – Melton shire has one of the highest council rates in Melbourne
4) Richard point – Land is getting cheaper and cheaper by the day, the price might look attractive on paper but i guess the returns wont be as good.
5) Ask the developer how many blocks he or she personally own and get them to show you a document, You will find that they problay wont even pout their own money into this project.
Cheers
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
What a crappy article..
I dislike people who make rash decisions and expect others to feel sorry for them when some thing goes wrong.
I read an article the other day where a couple who knew nothing about the share market borrowed 100k+ on their house and they end up loosing all of the money.
because a "adviser" gave them some advice…
I bet if they made a profit they wouldnt be crying out poor.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi Engelo,
Well done mate, glad to see you are doing well.. In the last two years i have also sold two other properties that i had, I only have my PPOR and one other IP.
Im finding the market in australia not attractive any more.. returns are not even worth the effort..
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Also their argument would be this, if you are close to going over your limit then why use it again anyway?
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Melbourne market is still flat and it all depends what area you looking at!!!
some areas are steady and some are flat…
What particular area are you looking at?
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
I think we are heading into a mess!!!
When the government needs to provide handouts to any business, its sends out mixed messages.
1) If a business like Holden or ford (or any other business) cant break even or even make a profit then why are they in Business any way?. Spend the money in other industries that are growing….
Australia has allot of issues in terms of manufacturing and business in general.
1) Population is to small for to much competition – So many other industries are being effected by this population being small
2) Cost of doing business in Australia. Pay roll Tax, OH&S, Super, Holidays, wages, income Tax and many other tax's make it to costly to do business.
3) Rent, Electricity, rates, out goings etc to expensive again….
Also the biggest issue Australia faces is this, Overs ease countries are building better quaility products at a fraction of the rate.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
My questions are why an arcade strip of shops?
Foot traffic in arcade strips have declined over the last few years as more people tend to go to shopping Centre.
I am not sure what state you are in but in Victoria city strips are dying and they have very high vacancy rates.
Just really do your due diligence, retail is very though at the moment and also ask your self when have you ever saw a big brand open up on a strip?
most are heading into big stores.
PS coles and safeway are not looking at strips any more as they develop their own stores and shoppping centres.
Oh if you do move ahead with this, call up the local council and see what zoning and type of shops you can have…
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Hi,
I have had a couple of properties in Werribe and Hoppers crossing in the past and just sold the properties about two years ago.
I wouldn't touch the area for the following reasons:
1) area has high vacancy rates as per Jac M
2) Limited growth
3) Allot of land still avaible, there are plenty of blocks being sold in werribe, tarneit, wyndhvale
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Depends, Melton shire council increased rates by a total of 12.9% (9.3% increase in Waste and 3.3 on normal rates)… Double digits
Murrunidi council increased by 8%
Pallara at 7.58 per cent (QLD)
Bayside 5.5%
Monash (VIC) 6% increase on rates and 2.5% increase on waste
Geelong 4.4
North Sydney Council Rates increase. by 12.34% –
It does happen
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
Rates are going to increase every where and by double digits per year…
Federal and state government have cut down on local funding and the cost of councils have increased.
– Waste cost have increased
– cleaning cost have increased
– wages for various jobs in the council have increased.
So the only way to maintain a sustainable business is to increase the cost…
I know a few people in the Caroline springs area and there rates have increased to point where they would rather sell their IP then keep it.
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
PLC you have hit it right on the nail!!!
Its true what you have said a a number of small to medium are shedding jobs to, this thing with ford is just a way to buy more votes…
The country is in a mess because of two main reasons from my point of view
1) Government have an idea on whats going on but have no solution to the problem
2) People: People simply dont know how to manage money….
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
100% agree freckle,
I would rather keep my lotto store that provides a cash flow postive return every month then buy a property in vic
thanks to a certain mate of mine the retail side is picking up too ….
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
I have to agree with you Nigel on this one…
Also areas like Werribee, Hoppers Crossing will feel the on flow effect as well.
I think Melbourne market is heading for very hard times, I dont care what any ways says…
Cheers
JP
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
WA is already in a recession, I working for a shipping company and we move allot of freight for three large mining companies and I can tell you allot of these companies are shedding jobs and export volumes have slowed down.
Australia is going to be in a bad shape for quiet some time
Jpcashflow | JP Financial Group
http://www.jpfinancialgroup.com.au
Email Me | Phone MeYour first port of call in finance :)
