the way I would look at it is like this. the new townhouse would probably rent similar to the house you own now yeah? so your going from losing money to making money. if you are looking for income this would be the go.There fact the developer can give you a house lowers his cost base and makes the deal more likely to go ahead. if he were to buy…[Read more]
i have met with Pino from capital360 and he seemed very good. they're not just a buyers agency,, they help you manage it as well. I didnt end up using them as there is another group a lot cheaper in melb. I will probably use the cheaper one for the first 2-3 houses then shift to capital when my portfolio is starting to get large.
property planning australia and capital 360 are companies like this and there are plenty more. they help you set up the structure, get the loan, find the property they negotiate for you, and they help you along the way evaluating your portfolio. The dont buy new property so there is no commisions paid to developers. they charge a flat fee to find…[Read more]
well there is a unit in the same block renovated a few years ago asking 260pw so i would think similar or slightly more. i would be hoping that would mean it would be worth at least 260-280k.
I agree, this has been very helpful. Powerpoints is one thing I hadnt though of at all but is a very important part of a home as even I remember looking for powerpoints when I bought our place. Is it easy to get rid of damp? Being a structural engineering (a young one tho) I should be able to get advice on how to do it at work ,but generally we…[Read more]
Thanks Guys,I have some leftover paint from when I painted the spare room in our house (however it's currently stored on concrete, i better get it off the floor tonight. Is this to do with the concrete being cold?)Thanks for the idea's guys, I really appreciate it!I've lived in a one bedroom unit before so i have a good idea what works and what is…[Read more]
Hi jason,These properties are really good. How much would you generally spend on a renovation? I'm looking to do something similar, render, paint, floors, light fittings and maybe a second hand kitchen and some bathroom updates. I'm trying to work out how much I will need.Does the area your renovating in make a huge difference on the cost of the…[Read more]
WJ Hooker wrote:
Sorry, Just had to post this.http://www.moneymorning.com.au/20100608/house-prices-at-maximum-risk.html#more-3296Always a good read is the moneymorning post.devo76Canada is not in dire financial troubles, it is like Australia in many ways, both have high housing costs, both are reliant on mining, both have hots of space w…[Read more]
me an the missus bought out first PPOR with a 100% LOAN in feb 2009 got it revalued last week, achieved 30% growth, withdrawing 75k to buy another one as soon as i find something decent. will prob look at cashflow positive for the next one (maybe strata titleing a block of units) as dont wanna get stuck with 2 growth properties costing me $$ e…[Read more]
im not saying there wont be a slow down or possibly (but unlikely) a small reversal as people become spooked, all i'm saying is that in 10-20 years, a 20k drop after you bought a property isnt going to make a big difference in the scheme of things.its like holding off on buying a speculative stock at 5c to try and get it for 4.8c, your still…[Read more]
haha dont think so mate!tighter credit hey, i just got a 75k LOC on this property approved (up to 90%) and also a 95% loan pre-approved for another property….and both myself and my partner earn less than the average wage …read some of the comments after than last article….if you excluded sydneys inner suburns like they excluded manhatten t…[Read more]
id say you'd be looking around springvale/blackburn east that sort of distance from the cbd mate…
And I don’t think u’d be renting a house in Richmond for $350… entry level duplex is easily over 500pw. 350 would just get u a ok two bedder!
im only new and i dont know much about how much babies cost, but wouldnt you first change your investment property to interest only, then use the extra cash you were using to pay the principal on that to put into the offset account on your PPOR. pay down your PPOR as much as you can before the baby comes and then chuck some of your savings off the…[Read more]
Silver will give u much higher percentage returns in the short term, silver is being used much quicker than it is being mined. It won’t be all that long before there is a huge jump in the silver price. Just check out the gold- silve price ratio and see what it’s average has been over time. Problem is you are then stuck with only 150k appreciating.…[Read more]
Why? The first place is returning 10%, the other 7%. Between them they should be cash flow neutral after all costs, so why not keep them and buy something else and get the growth from all 3?
There's a 2 bedroom furnished apartment in a 3 story apartment block in melb on the same st as a uni, buy 280k, rent 400pw (over 20k pa). (7.2%) they're 2 years old so there would be plenty of depreciation as well.I'm not sure if it's soley student only living but they are pretty small apartments so in the end only students live there.I'm only…[Read more]
Thanks a lot guys. Nah unimproved value was 39k, improved value was 100 and i coulda picked it up for about 70. Most houses in the street are worth about 150k max of 180 and rent for 200 so building a new place, even a bond transportable home would not quite work.
It’s a town of 15000 people that is growing. I have mates there who are plaster,…[Read more]
Hi Rob,Can I ask why you say stay away from Detroit? I was actually talking to a company (I'm happy with their reputation) about buying in detroit earlier tonight. I have read articles on the net about detroit going backways population wise and there being a lot of empty houses, however 30% yield is pretty good, and these guys have any renovations…[Read more]
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