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BuyersAgent
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@knightm
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September 2, 2015 - 10:47 pm
Hi @newcoolkid, as @kinnon said not always. It is a part of the 2 sided equation banks use to assess. LVR is about equity and deposits, DSR is about income and ability to service.
Banks look at risk, so LVR is about their ability to sell the assett and get their capital back if you fail to make payments. DSR is about your ability to make payments so that doesnt happen.
Positive cashflow GENERALLY preserves or slightly improves your DSR. It has to be a strong yeild though to actually improve things. You still need to come up with more deposit money each time so you need a combo of cash flow and growth across a portfolio. Many of my clients blend a couple of growth properties with a couple of cashflow ones to get the best of both worlds.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
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@knightm
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September 2, 2015 - 10:41 pm
Welcome @rouke1
It comes down to a blend of lifestyle choices and opportunity cost.
Selling up would be a major family decision and force you to rent again which you have said is a problem. If you are not willing to stomach the change then you just need to work out the best way to minimise your cashflow costs now and invest the rest. You can do all the normal family budget things to keep costs low, also you could possibly refinance the family home to the lowest possible interest rate or even interest only to free up investing cash.
For many people the opportunity cost means they are technically better renting for longer and investing as aggressively as possible. If you are sure the are you are in (no idea as you have not said where) is low growth you could consider redeploying capital to a better market.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 31, 2015 - 8:20 am
Hi @kristymckee12
As others have said when choosing locations finances are a pretty big first step to narrow the hunt. Someone like Jamie Moore (who posted above) would be a good choice he is very reputable, friendly and I have seen him get results.
If you are focussed on inner city apartments and can afford these, I can confirm Metropole do a good job and should offer a consistent service in Melb, Syd, Bris. I have a friend who has just used them in Syd and Bris and is happy. I think they run a one stop shop service and have their own finance brokers they recommend.
Be warned they are anti fringe suburban property, and anti regional property, so if you are looking for more affordable options they probably won’t be a good fit.
Best of luck!
Matt
- This reply was modified 8 years, 8 months ago by BuyersAgent.
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 31, 2015 - 8:07 am
I also have never heard of them.
A quick look at their website leads me to remain cautious:
1 – they don’t say what they actually do
2 – they don’t disclose how they get paid
3 – they have quoted snippets of media with no dates or references
4 – the data in the articles is years old and out of touch
If I had to guess (and this is a guess) I would say they are property marketers – meaning they appear to teach people how to invest but really just offer new housing stock in far flung areas because they are paid by developers who cant get rid of that stock. Conflict of interest. If you are going to take property advice pay someone who only works for you, be the client not the patsy.
I may be wrong and am happy to be corrected.
Please be careful.
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 16, 2015 - 9:08 pm
Agreed. Its never the basic premise of property development that is tricky, but the implementation.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 16, 2015 - 8:38 pm
Hi,
I would echo Corey’s sentiments capital growth and cash flow need to be combined to build wealth. I find old duplex pairs can fit this bill, but new ones often will be a slow road to any growth. Growth is possible but not a given in a place like Ipswich with so much land. It had better be in a special spot with lots of demand and amenity to get the growth. With a new development product you also need to be very careful about your entry price.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
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@knightm
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August 15, 2015 - 9:05 pm
Yes that will make a difference – you might be able to find someone who can do the whole lot rather than having to rent pieces individually and sort it yourself. Best of luck!
Becs wrote:
Hi there
Thanks very much for your advice. Much appreciated.
Our tenant has just given notice so now the place is going to be empty during the marketing campaign. I think we need to get some furniture in there.
regards
Becs
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BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 14, 2015 - 8:58 am
Ah yes. this is a problem because the banks and valuers dont want to give the impression that they are lazy or flexible with their valuations. They have to have a reason to revise the price down. When negotiating contracts after building inspection reports you could try to get a rebate on the same purchase price rather than a change to the purchase price for this reason. Once vals are ordered, loan docs submitted the train has left the station its hard to bring it back. Now for you I think you will need to provide the report or change lenders. The only risk is they see the report and worry that there is more than 20k worth of work, which may result in a smaller loan amount. Hopefully not.
kingsun wrote:
Does anyone know of situation where….. bank valuation came back at agreed purchase price. Following building and pest we renegotiated a lower purchase price by $20k to cover some issues. Mortgage company has now asked the valuer to revise the valuation to new lower purchase price and valuer has requested our building and pest reports…..is this normal??? I thought valuation based on what they see and market, land etc….any help appreciated cause i cannot find any info on similar situation..
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BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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August 14, 2015 - 8:53 am
Hi, I noticed no replies yet…
1 I am not sure how many full time property stylists would reside in Traralgon
2 Perhaps standing out may or may not be a good thing? (sometimes its not)
3 why don’t you start by asking agents what is in most demand and selling quickest (style wise) and give them that.
I am all for stylists, particularly as the price bracket moves up a bit but for low end it might not be required. Mass appeal and modern neutral seems to get results most of the time.
My guess: If its a standard 30-40yr old BV 3×1 under 300k I would suggest (for wall paint) that hogs bristle quarter is still fairly attractive to many people in that bracket. Some charcoal and nice timber features in the furniture (depending on your floor coverings which should either be freshly polished boards or neutral coverings otherwise) will set the walls off nicely. If you are renovating spend the money on the cheapest stone bench you can put in the kitchen and some merbau timber features (decks or screens) in the front yard. The next level after that is whether or not to render the bricks and spray the roof. How long is a piece of string I guess. All the best with it.
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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Post Count: 338
July 28, 2015 - 7:27 pm
Hi Benny,
As pointed out by moderator Benny there are other threads worth searching and reading. My path many years ago was to invest first, I believe this is a great option that few consider. The longer you stick around places like this the more you will learn.
Matt
Benny wrote:
Hi there,
I’m currently saving an would be about a year off a decent deposit for an investment, however i am currently renting an do not yet own my own home so my question is would it be financially smarter to buy a investment property first or a family home ? Because i feel if i brought a family home i would be locked down for a long time and would then be a long way off starting my journey as an investor. Any advice would be much appreciated.
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BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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Post Count: 338
July 28, 2015 - 7:20 pm
Gday
Yes I can confirm this trend is occurring in NSW also and out from Sydney into better quality regional areas, Wollongong and the south coast.
Matt
stama90 wrote:
Hi Guys,
I am a town planner from Adelaide and have noticed an increasing trend of people wanting to buy and sub-divide properties. I have noticed it now varies from developers as well as the average Joe wanting to develop, whereas in previous years it was mainly just developers. I work in a desirable council area in Adelaide and the competition to buy a subdividable property is quite fierce. I am curious to know whether this is just an increasing trend in South Australia or are other states seeing the same thing occur?
Any comments to build a discussion would be great
Thanks
Alex
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BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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Post Count: 338
July 5, 2015 - 5:11 pm
Its painful to have negative equity but the real issue is what does the future hold for Gladstone. How much research have you done with regard to industry, jobs, vacancy rate, stock on market and other housing market trends etc. These things will help paint a picture of the likely future of Gladstone. Then you need to decide whether your strategy and timeframes fit better with holding or selling. Opportunity cost is sometimes a bigger issue than being vindicated, on other occasions there is a case for waiting it out. Post what you find and we can all learn.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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July 5, 2015 - 5:04 pm
Dean do you fund all deposits with earned cash or do you ever refinance? If you plan on refinancing to generate more deposits then having 2-4 yrs of no growth will definitely put the breaks on the purchasing plan. You can have your cake and eat it too if you are willing to move the location of purchases around a bit to beat the ripple or invest more counter cyclically. Eat to their own and I am all for long term but Corey is right buying if you really believe we are entering bubble phase seems counter productive to me.
DeanCollins wrote:
Hi Corey,
That’s because I’m a long term investor buying one property every year and holding for the long term. I dont care if prices go up or down for the next few years (to be honest I don’t care where prices go until I start to sell in 15 years…..and even then only plan to be selling slowly over time).
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BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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July 4, 2015 - 6:55 pm
Jamie Moore wrote:
Salvi23 wrote:
Any recomendations for good buyers agents to help source areas Australia wide .
Hi Sal
Which particular area do you want to buy in?
Buyers agents generally concentrate on a particular area?
Or was your first post a set up for spam responses?
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:) You are so suspicious Jamie! I am sure Sal will be back to explain…maybe
I will play along. As mentioned many BA’s target a small area particularly in inner ring areas of capital cities as they are unique markets, high price and the kind of clients who are happy to pay tend to frequent them. A few BA’s spread themselves around. It tends to be a bit more work but creates opportunities for clients who want to spread their risk. You can either find ones that travel, or pick different BA’s in each area. It really depends what kind of markets/deals you are trying to do. Some specialize in new property which could be fine but watch out that they don’t get paid by the developer or that aren’t acting in your interest, they are acting on behalf of them and cant possibly manage to put you first its a conflict of interest.
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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Post Count: 338
May 20, 2015 - 7:54 pm
To understand a couple of options re ownership, and investing vs developing check this out
http://www.bantacs.com.au/booklets/How_Not_To_Be_A_Developer_Booklet.pdf
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
Join Date: 2005
Post Count: 338
May 17, 2015 - 2:12 pm
I forgot this site. So cool.
https://www.givingwhatwecan.org/get-involved/how-rich-am-i
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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Post Count: 338
May 17, 2015 - 1:59 pm
Rich is relative. Every single one of us on this forum is comparatively rich compared to the worlds poor.
http://en.wikipedia.org/wiki/International_inequality
http://www.gallup.com/poll/166211/worldwide-median-household-income-000.aspx
Rich and wealth are also terms with differing definitions.
To me being rich, or wealthy, are all encompassing terms and include finances but are not limited to finances. They also include mindset, family, capacity, opportunity, grace and generosity. I have known some truly rich people who had relatively small bank balances, because their outlook on life was so good they felt, and seemed rich.
Also your title “what is rich” in my mind is very different to what is required for a “comfortable” retirement.
But if you are asking what it takes to have a “middle class” aunsralian comfortable retirement I would suggest 50-80k zero debt could do it. This will require 1.5-2 mill of unencumbered income generating assets depending on the yield.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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May 16, 2015 - 10:24 pm
It is possible but as you identified the choice of area and property are key. Most renovators (houses) don’t have much profit in them. You need to target areas (within your budget) that have potential metrics and good property styles for good returns. If you can do that then the rest is logistics. Depends on how much time you want to invest and how much you want to trust someone. I ran a 25k reno in WA over the phone before, no project manager, it took twice as long as it should have but the jobs got done and the profit was enough. Lots of ways to skin a cat.
- This reply was modified 9 years ago by BuyersAgent.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
BuyersAgent
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@knightm
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May 16, 2015 - 10:11 pm
great post by benny it is percentage of homes available to rent nothing to do with time. Try to stick to areas with a 2% max vacancy rate and you should be able to rent places fairly quickly.
If you want up to date vacancy rate searching by postcode go to SQM research website and choose free property data.
http://www.sqmresearch.com.au/terms_vacancy.php
BuyersAgent | Precium
http://www.precium.com.au
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au
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@knightm
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May 16, 2015 - 11:40 am
No. They are not the best for most investors 9 times out of 10.
BuyersAgent | Precium
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South Coast NSW Independent Buyers Agent - Wollongong to Batemans Bay and Regional NSW. DOWNLOAD OUR FREE 14 POINT PROPERTY BUYER'S CHEATSHEET to avoid painful mistakes at precium.com.au