Forum Replies Created
Hi tychin,
Welcome to the forum.
I had looked at the opportunity sometime last year but dropped the idea due to the following reasons:
* Limited capital growth
* Low LVR (around 65%-70%)
* You cannot do anything with the investment but lease it to the caravan park management
Hope this helps.
Sanjiv
*******“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Holding the property in Darwin should not affect your. In fact, the positive cash flow should help improve the serviceability for your future loans.
Experience comes from time and practice. However, you can overcome the shortcoming by building a team of professionals around you, that is, good accountant, finance broker, property manager/s, maybe buyers agent, real estate agents, etc.
I think you should start looking for properties in your target market and at the same time speak to lenders.
Good luck
Sanjiv
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson MandelaFull marks to Mr Morgan Vicks for trying.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Thanks salacious,
Good luck with your future acquisitions in the area.
Have you had any troubles with the tenants and/or neighbours?“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
good one, mate!
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
hi mdavo1
Let us know how you go with the negotiation.“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi as41,
I like to do conservative calculations and use rent before any expenses and price of the house including closing costs.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi vic.nt
First of all, welcome to the forum.
If I were you, I will hang onto the unit in Darwin as it is putting cash in your pocket. Also, from what I have seen, Darwin has experienced capital growth as well, so it is a win-win situation there.
Hope this helps.
Sanjiv
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson MandelaHi celeste,
A job well done, conratulations.“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Jason Whitton (Co-founder of Source Wealth) nearly lost everything before becoming a very successful property investor.
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Firstly, welcome to the forum.
Nothing stops you from property investment on a part time basis. In fact most people do it that way until they are able to generate enough cash flow for financial freedom.
What you have to do is to use LEVERAGE, that is, build a team of experts around you that can help you achieve your property investment goals. You will need to do the hard yards initially to set up the structure and team but after that you should be able to do it on the side.
You could use companies like positiverealestate.com.au to find properties that meet your criteria and inform you.
Hope this helps and good luck with the investments.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Do you know the asking price?
“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi Sharif,
It depends on what your investment goals are. Are you looking for capital growth or cash flow? Are you looking at Melbourne and surrounds only?
If I were you, I would be looking at opportunities in other states as well as you can find better cash flow.
That said, of the 3 properties you listed, I will probably go with the property in Melton. I think Melton is undervalued compared to some of the surrounding suburbs. You also need to take into account the age of the property, land size, etc.
Hope this helps
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi
I think the short answer is YES.
Regards, Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi ginag,
You can try http://www.realestatemagazine.com.au/
Its an online magazine that has rental and sales information for all areas.
You can subscribe to limited edition free of cost but unlimited access will cost you $99.
Hope this helps
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi blogs,
Could be due to people buying overpriced houses 1-2 years back and now finding it difficult to make the repayments.“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi lesleyk,
Agree with bridgebuff.
You should look at replacing the roof and take the asbestos risk-factor away from your investment. As you mentioned, it allows you to do other things like adding skylights, etc.
The other thing you can do is negotiate with the current vendor and try and get a reduction on the purchase price due to asbestos roofing. That will hopefully reduce the gap between paint job and replacing the roof.
Lastly, do not rely on one quote for painting and replacing roof. You should get multiple quotes to get a good indication of the cost.
Hope this helps.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi marky88,
I guess the decision on buying this property on not depends on your investing goals. If you are seeking cash flow then capital growth should be a secondary consideration. Any capital growth you get should be considered as a bonus. I agree with bridgebuff that some properties just lag behind others but in the long run all properties experience capital growth.
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi trajik,
You can try Source Finance Group (www.sourcefinancegroup.com). They are based in Southport, QLD.
I have financed few properties in a trust structure with them.
Hope this helps.
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
Hi Nathan,
You may find the following publication from ATO useful.
http://www.ato.gov.au/content/downloads/NAT1729-06.pdf
Regards
Sanjiv“There is no passion to be found playing small – in settling for a life that is less than the one you are capable of living.” – Nelson Mandela
