Forum Replies Created
Dear Joel,
No worries, let me know if you need help in negotiating the price.
The house I live in today was on the market for $219,000 and I was able to negotiate the price to $165,000.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Julian,
My apologies for the typo in calling you Julie.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Julie,
Our company offers a Global service, including the UK.
We are an Australian based business, with a Global Network.
In addition, we have staff who are ex-pats and who own investment properties in the UK themselves.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Shel25,
The golden rule in Real Estate is never sell, because you will only regret it in the future. The only time you should sell any investment property is when you are ready to retire.
Have you considered purchasing a postive cash flow property that will pay for itself?
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Joel,
If lifestyle is more important to you than saving a dollar then I suggest you move in the new purchase and get your first home buyers grant (if applicable).
Otherwise, if you are looking at it from a purely investment point of view then I suggest you rent the property out.
Alternatively, you could do both, move into the property (get your first home buyers grant), then move out at a later date in order to recieve the benefits of the rental income and the tax depreciation schedule. That way you can have your cake and eat it too.
The cheapest and best way to obtain a tax depreciation schedule is to use tax shield:
It is a do it yourself alternative that will save you some money and can be just as effective.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Erica,
Depending on your financial situation the bank should be able to incorporate the stamp duty and other associated costs of the purchase.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auHello,
I have heard positive feedback from our clients that have used Micheal Yardney's service in the past, however I believe their fee structure is quite high.
Have you ever considered using our service, which is the most competitive in the country?
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Warrick,
There may be an investor here that is willing to offer you vendor finance.
Otherwise you may want to consider a low doc or no doc loan.
A person’s success is totally dependant on their perception. I have heard a lot of young people say that they “…wouldn’t be approved…” or “…couldn’t afford a mortgage…” Often these people are mostly held back by the negative perception of themselves and what is actually available to them. We have all missed and continue to miss opportunities because we lack commitment and/or don’t want to take the risk. Regardless of how sexy or attractive the potential financial gain may be, most of us steer away from dealings which could lead to stress.Once you have a good perception and confidence in your investment strategy then property seems so much more affordable. Once you realise you can afford a mortgage (or an additional one), you will come to realise banks love lending money, and will even lend money when it’s marginal. So if you can be bothered to dust off your suit and give them a good pitch in person, your half way there. I remember, (as will some of you), sitting across from a Home Lender thinking that he was a God like person with the ability to make or break my hopes for property acquisition. I remember giving a Home Lender 3 different payslips from 3 different employers, knowing in my heart I couldn’t afford the house, but in the end I convinced myself and the lender that it would work, and it did. I know it sounds bad, but tell them what they want to hear, without actually lying. The thing to remember about your next dealing with the bank is that financial institutions lend to “people” and not always their situation. One of my good friends has been working as a Manager for one of the primary lendors for a number of years now. After having off the record discussions he has revealed to me that he has declined loans where people could afford the repayments, but he didn’t trust their character. Like my situation from my youth, the reverse can be true where money is lent to marginal people who can’t really afford the payments, but their character suggests they are less likely to default. The moral of the story is to make a good impression, and if you make a bad one re-finance. Don’t be afraid to shop for a better deal, there shouldn’t be any loyalty when it comes to your money.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Investors,
I have a tradesman that does everything for $20 per hour, if you phone around enough you will find someone willing to do an honest days work.
However, when he is not available I am also confronted with tradesmen who act like cowboys and expect to get paid $100 for what sometimes takes them 15 minutes. A lot of people don't realise that doctors in public hospitals get paid as little as $23 per hour, the blue collar worker is the new white collar worker.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Investors,
I agree with everything that has been said, all markets have inevitable cycles both boom and crash. However, the downward trends only affect those who react and sell in panic. If your strategy is to stay in for the long term say 30 years then you can guarantee that your property will have significant gains regardless of relatively short term fluctuations in the market.
Kind Regards,
Mark Leith
Property AdvocateGlobal Buyers Agent
Hello,
Another option to consider is "…renting where you want to live and buying where you want to invest…"
The reason behind this is that the area that you live in may not always be the best place to buy in the current market.
If this ideology does not appeal to you then I suggest going down the obvious path of buying your first home, then borrowing against the equity to buy a 2nd investment property.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Investors,
$15,726.00 is not a huge margin to work with. Renovations are almost always more expensive than you first think. Prices of materials and labour have become a lot more expense over the past few year due to a number of reasons. As you would already be aware there is a real danger in over capitalising as all your hard work will be for nothing. It is also important to find out what people will pay more for, what you consider add value may not be add value to someone else. Many people spend a lot of time renovating the inside of a property and forget that street appeal is one of the main reasons why we are attracted to a house in the first place.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Darren,
When taking out home loans always opt for interest only. It is critical to remember that when investing in property your buying time, not real estate. To explain, based on property doubling every 7 to 10 years, a property bought for $300,000 today will be worth between $900,000 to 1.2 Million at the end of 30 year loan. Whilst reducing the principle saves the amount of interest you pay over a 30 year period, it again places a limitation of the amount of properties that you can secure within the same time frame based on the extra commitment. In other words, most investors that have 5 or 10 properties would not be able to physically continue to buy any more if they were to pay interest and principle on all of their loans. By always opting for interest only loans you will be able to buy a lot more properties within the same time and thus earn a lot more in capital gain. This one simple concept could be difference between retiring comfortable and ending up as a self made millionaire.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Andy,
It is certainly possible to achieve returns up to 10% to 15% here in Australia and returns of up to 25% overseas. Furthermore, it is possible to achieve growth of up to 25% to 75% growth per quarter.
Have you ever considered using a Buyers Agent to assist you in this matter?
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Bronte,
Providing you source, negotiate and secure and investment in the right place at the right time it is possible to achieve high returns and high growth without needing to renovate.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear TokyoJoe,
Have you considered using a Buyers Agent to assist you in securing the right investment in New Zealand and elsewhere?
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Investors,
It is possible to achieve returns of up to 10% and 15% here in Australia and returns up to 25% overseas. Also are achieveable are growth up 25% to 75% growth per quarter providing you are able to negotiate heavily and are buying in the right area at the right time.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Bronte_bez,
Have you ever considered using a Buyers Agent?
This can often be the best way to secure properties that will have the highest growth and returns.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Emma,
The best way to purchase properties overseas is to establish a line of credit against the equity in your home or portfolio that way you will not be restricted by LVR.
Otherwise there are morgage brokers who specialise in securing loans for overseas investors.
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.auDear Investors,
Has anyone thought of using a Buyers Agent in order to secure Postive Cash Flow Properties?
Kind Regards,
Mark Leith
Property Advocate
Global Buyers Agent
http://www.buyersagent.com.au
