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    @knightm
    Join Date: 2005
    Post Count: 338

    @igaldvir no worries at all I thought it was under construction and this would be the reason for partial data etc. I think that user experience is everything in this space so keep working to make it beautiful and simple for the user, and get as much data as you can, you may get some traction before long. Is there a way to partner with a portal like re.com or domain to catch more listings more quickly or do you need to approach individual agencies?

    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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    Good on you for developing this Im sure it could be useful for someone. My feedback is I tried searching in NSW it only appears to search VIC. When I tried to find houses in Kew near Kew Public School I only found one and the link was dead. Keep testing and improving. SAS and search tools are hard work but the traffic might be there if you nail it.

    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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    @kylie74 If you understand the local markets there are +cf properties in the major regionals along the QLD coast – with the advantage you could renovate if required.

    You obviously need to review your own goals first, then your strategy, then buying criteria, and to be honest I think its a little early for a wholesale market improvement in some of these towns, but hey you asked.

    http://www.realestate.com.au/property-house-qld-bundaberg+north-121229406
    http://www.domain.com.au/maryborough-qld-4650-2012292164

    etc etc (please note I am not advocating these are great markets or great properties or that I have even seen them in person – I am not spruiking business) just suggesting given your location you might find something along your stretch.

    Here is a recent client deal in another market with the same basic criteria, it will require 3x cosmetic reno to be +cf but will be around 7.8% on all inclusive total cost base when those are done.
    http://www.realestate.com.au/property-unitblock-nsw-malua+bay-121554110

    For, when looking for cashflow plus less risk of zero capital gains I like to try for lower vacancy rates, coastal if possible or at least somewhere people have a reason to move to, counter cyclical is fine, & properties with renovations or value adds or with development potential. That way the risk of getting NO growth over say 10 yrs is much lessened. Buy the problem, sell the solution.

    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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    Post Count: 338

    @paulpetherbridgehotmail-com any thoughts?

    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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    GC is in ok part of cycle for buying after 8yrs limited growth but huge due diligence required as there is so much rubbish stock. You need to know what sub location, property type and price point to buy into to get the best opportunities.

    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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    Cool @world-changer ta for the link. Do you know if they are ok with acid sulfate soils?

    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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    To be fair I guess at 70k it might be 8% on a fixed fee around 6k. Not a common purchase price anymore though.

    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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    Howdy @elileon welcome. First up the journey of investing is fun, long, and yes it is great to open your eyes to the possibilities.

    The mortgage brokers lawyers and accountants can speak with more detail about structuring solutions etc. I will keep it brief, to answer your question, yes, in the short term you have impacted your borrowing capacity by buying that home. BUT – if it is your home, and you enjoy living in it, then that is worth a lot. So be happy. The great thing is it is not a million dollar home, but something affordable. And you have great income to support the mortgage payments and family plus investing assuming you keep cashflow under control.

    The most pressing need I see is deposits. You need some. So in the short term, save hard. If you have access to another source of deposits, these can be found at low risk great. But if nothing else, keep reading, and learning, and save for 6 months and you will have your first good deposit. Voila! Not sexy but a plan, and yes, saving is how I and most other investors started. The more drastic approach would be to sell your home and rent and save faster, but with no real equity gains it is kinda pointless to sell it, given you will just end up paying someone else’s mortgage off instead of yours.

    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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    …Value add with subdivision, capital gain with ripple effect outside of Sydney this yr.

    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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    I’m definitely much keener to educate myself further about Brisbane as a whole and the areas of potential boom whilst building a portfolio, I really just want to know of people who have used an agent and what their story is, Did it pay off, Or was it work that can be done yourself with a little dedication to your portfolio building?
    Cheers
    Tim

    This says a lot about you and is a good indicator that a BA is probably not a fit for your personality type and investing style. Which is totally fine by the way. People who have done enough work to get success 3 or more times and enjoy the time spent plus the process of research, due diligence and negotiation may need a BA less than others. The folks that enjoy success with BA’s tend to want their lives back so spend less time on forums. A big part of why I do what I do is because I hate hearing stories of people being fleeced and ripped off in the market. For some people the process itself is daunting, and their lack of knowledge, confidence, or time means they will struggle to outperform the market or be sure of getting good value quality properties. Others don’t even know what they should buy as they haven’t been able to clarify their goals and set a plan that will get them there. It ends up being about trust, and working together. Protecting the interest of my client is what drives me.

    If we think about other skill sets, I have seen good solicitors being worth their weight in gold in nasty property transactions so I would trust one completely every time, even though technically I could do my own conveyancing. Its it good value to me to pay a solicitor? Yes. Is it good value to pay a surgeon when I need an operation? Yes. It is good value to pay someone to mow my lawns? Yes. They do certain things faster, better, and I would rather be doing what I love and am best at. Are all those things good value to someone else? I don’t know that is up to them.

    If I can find a team I enjoy working with who do a good job and make my life easier, I will do that every time because I love that way of working. Some people want to do everything themselves and never trust others, they have a different set of values and drivers. Which parts should you do yourselves and which parts should you get help with? That is different for every person.

    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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    as per above, but yes majority of investors do choose interest only to minimise their weekly commitment.

    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

    Profile photo of BuyersAgentBuyersAgent
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    @knightm
    Join Date: 2005
    Post Count: 338

    …or meet with Terryw he is wisdom personified!

    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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    Post Count: 338

    Depends what you are talking about. For large scale developments you can talk to the players for the rumours and also research council approvals/applications. For Established suburbs you can only track stock current and historical but you can see trends from that. I think Building Approvals are usually measured and published by ABS only over larger areas, you could contact them to see if it is sortable by postcode on their website I have never tried that.

    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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    Good to know about that one Benny. This mob are also excellent for property structuring etc. Also the wrong part of town for @bungee, sorry.
    http://wscgroup.com.au/home?subSiteId=1

    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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    It ain’t about age it is about construction type. If they are gyprock or asbestos it is gonna cost a bit to install fire proof board in place, if double brick or concrete blocks then this should satisfy BCA requirements (but check for yourself please!) remember you need to get fire separation all the way to the roof covering (kissing the underneath of the tin in the roof). A good surveyor/town planner in your area should be able to assist with an assessment. It may or may not be worth doing pending the amount you spend, run your numbers carefully.

    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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    @originalsinner I doubt a mine could take values from where are currently in Kingaroy LOWER given they are already low. In almost ALL cases new mines increase rents and values, and the rest of the economy. The only scenario I could see values falling was if a proposed mine was:
    1 right on the edge of town,
    2 in a really high price trendy latte drinking town who would actually leave because of the mine.

    In practice this would be really rare.

    If locals are fighting its because they don’t like it for a lot of other reasons, this has been added in to try and strengthen the argument, but is unlikely to be true. Of course mines have environmental impacts that are real, and whether a new coal mine will do well in the current climate is questionable anyway given current low prices (will probably rise eventually) but yeah its more an emotional NIMBY thing (not in my backyard) than a financial thing.

    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
    Join Date: 2005
    Post Count: 338

    +1 for D.T.’s comment Corey knows his stuff. I have also had experiences with @jamie-m and he is great. These guys are orders of magnitude better than the average backyard broker or (even worse) your local bank manager.

    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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    Post Count: 338

    Wow @lukoot well done and congrats for the fantastic progress to get this far by 30. There are a few threads currently discussing strategy options and decision making. I would suggest start reading this one…
    https://www.propertyinvesting.com/topic/5019312-the-importance-of-having-a-strategy/
    …and then do some work on your long term goals, plus think about the kind of investor you want to become. This will help with the “what to buy next” question. It really should fit into a bigger picture of what you want to achieve.
    To answer the 2nd half of your Q re renos, subdivisions, and blocks of units, yes all of these are possible and affordable outside of Sydney. (I have a block of 3 under contract with a client currently, plus a small subdivision and dual occ etc) I would suggest don’t rush out to really distant rural at first, look for major regional and coastal markets whithin 3 hrs of Sydney for safety and to catch the natural ripple effect of capital gain that often happens at the tail end of the Sydney run, or else you could even consider SEQ as an alternate market. But again, you should work out what you want first, then pick the market to suit that.

    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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    Agree with DT above, proceed with caution. Companies that call themselves advisory companies but offer a one stop shop with fees and commissions paid by other parties are in my view sitting smack bang in conflict of interest land. They offer all the services, legal (which should be totally independent) also offering finance, and act as a broker, so they get paid by the banks, that is kind of ok because they get a similar fee from any lender. BUT remember they are also getting their PRIMARY fee from the builder. This means you are not their client. You are the stock on the shelf.

    The developer is the client and they are a sales engine designed to move stock that has been built, not find you the right property for you. Just ask them what if the right property for me is a 2nd hand renovator? And see what they say. My guess will be a combination of “its bad for your tax” and “we don’t do that”. When you add three (or more) fees into the mix (mortgage, builders commission plus legals) they have a huge incentive to get your deal done whether it suits your needs or not, so you are likely to get taken through a sales process that paints a rosy picture.

    In my opinion companies shouldn’t call themselves advisors when they are being paid by the other side. Imaging being offered “legal advice” by a lawyer who was representing the other side in a courtroom dispute…would you trust it? No. When I pay a solicitor I want to know two things. 1 – Is he/she any good? 2 – Are they working just for me?

    In property I believe you should build your own independent team of experts the same way. Choose a good property solicitor, a good mortgage broker, find some good data sources and pay for them and interpret it yourself to make your own choices and back your research, if you want help with property selection research and due diligence it is available from BA’s too but make sure it is independent and licensed.

    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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    Hi @specha good question.

    Short answer, yes it matters and it helps to have one. There are lots of little decisions along the investing path, which all get easier if you can check in on your direction.

    Here is how I think it can work (at least how I am trying to run my own life etc)

    1 Start with why – watch this video from Simon Sinek, go find your own reason, your driving force for taking action. https://youtu.be/u4ZoJKF_VuA
    2 In line with your why, set some long term goals. Ask yourself if they fit with who you want to be along the journey and at the destination. The goals are more than just “I want to be rich” they are like “I want to own 4m worth of units generating 200k net cash flow” or “I want to be actively developing 8-10 properties per year with 400k net profit” etc etc. Thing about the process of owning and improving property and which parts you warm to as these are the things that will consume your time when you get further along.
    3 Once you have the above, then set the short and medium term goals to break it down into baby steps.
    4 Once you have all the above, then clearly write down the strategies you will be using to achieve them. It becomes obvious. IE if you like owning new low maintenance units, you will either buy them that way or build them. If you love renovating, you will buy ugly ducklings. Etc.
    5 Once you have 1yr goals and strategies written down, develop a 3 month action plan so you actually do something right away. Such as “apply for that equity refinance this month to prepare for my next IP purchase next month”

    Continually check in with your deeper feelings about life and purpose as if you find your plans drifting chances are you will find you created something out of alignment with who you actually are. We don’t get energised when we try and do things we don’t believe in.

    Hope this makes sense.

    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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