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I was also looking Unilodge before. good cashflow, however, I can't see any CG for these kind of investment. the reason is management fee is eating away huge profit. so not many people after CG for unilodge only for the cashflow
Put under trust is a safe way to go as far as asset protection goes.
just check up your land tax threshold, if you buy under your and your partners name, the land tax will be treated as differently as you hold under trust.
eg if the threshold is 200,000 then under your and your partner ( as family) you can have 200,000 + 200,000 = 400,000 limited before you reach to the threshold.
but if you buy under trust, then you only will have 200,000check with your accountant
Maybe just pick up Rick Otton's book to start with.
Course for $5,000 is too expensive, you can almost put it as a deposit for a house in country town !
start small read the book see if you like it and if his stragety is suitable for yourself .
I finally found one for you guys see below link
http://www.realestate.com.au/property-house-nsw-bourke-108599856
$200 pw rent
$105,000 asking pricegood luck : )
NEVER BUY OFF PLAN PROPERTY !!
off plan property involve a lot more due diligence and more skilled to make it profitable !
especially 2 or 3 year settlement…….
sorry to hear your story.
if i were you, i would
1) seek for other broker or lender for the finace. ( maybe call Jamie to have a chat)
2) see if you can find someone bought the same development also have the same issue, then you can collectively figure out together such as negotiable with developer, developer vendor finance …..I hope this helps.
let us know once everything settlement, good luck
when you do the calculation just like everyone says, take maintainence fee, rates, insurance, etc, into calculation.
normally I take 30%of rental income as maintaince and rate expense
eg,
$200 pw * 52 w = $10,400 per year rental income.
$10,400*30% = $3,120 maintaince fee, rates…..good:
rental income is higher
multiple stream of incomebad:
tenant turn over is high,
more maintenance issue due to high turn over and more usage of kitchen, bathroom….
security, more people (tenant's friends) have access to the house,….. lost of good…..if you have energy and time to run the boarding it may be a good choice to gain higher rental income from each house
Very good on that you have a goal.
so do you prepare to have a bit of "hand on" experience on you first IP or "hand off" ? what I mean is do you want to purchase a straight cashflow positive or neutral property "off the shelf" or do some reno such as do some painting, change the kitchen/bathroom, put one more dewelling like granny flat the back yard then turn to positive cash flow or neutral property ?
Macarthur region in SW Sydney is a good area to start but if you want to purchase some positive/neutral property straight off the shelf you may need to find a bit harder. but if you want to do some reno or put a granny flat it is much easier in term of the area there are many old houses with big land component its suitable for second dewellling. ( again you need to do some due diligence to find out the pocket of the are suitable for this stragety)
infrastructure coming in to the area definitely is a positive to the area, but how long will it takes to translate to captial growth is a question mark .
I hope this will help
good luck : )
sorry to hear about your situation.
I believe it can be done, you may need to find a solicitor understand your situation.
the solicitor you are looking for also have to understand vendor finance, installment contract, lease option……etc..
this is a creative idea, but I think if you can find a willing buyer wants to access some capital gain and some interest income from your house, it can be achieve.
let us know how's the finding
good luck all the best.
do you have a lot of expense ?
even 5 or 10k is still saving !
I believe you still get a loan, but the interest rate maybe a bit higher. ( having say that I am not a broker)
otherwise, just spend couple of month and save some money ! ( it shouldn't be that hard for high income eaners, just adjust your spending habit and cut down un-neceesary expense you will be on your way )
have a chat with some brokers on this forum, maybe give them a call start the conversation !
I think it really depend on the agents, some real estate agent charge huge fee but doing just little work and told the vendor that "you get what you pay for".
however, a real responsible and integrity agent just like Kristin say may really work hard for you if the fee incentive are correct.
I guess end of the day there is no right or wrong answer. it all comes down to trust, integrity, and understanding about the market.
Hi,
many fund manager/ investment manager ( such as superannunation fund manager) use investors money to purchase commercial property. this is not new, but as above mention, over 20 people you need to comply with all the ASIC requirement.
it is a good way to start, but if you think about it, many fund manager already doing it, and most of people here would like to have direct control of the property without paying fund manager fee,,,, or any middle man fee.
Hence, if you want to be a fund manager may be look up some of large super fund ( property sector ) see how they invest in property.
Hi Freckle,
I really appreciated your research, stat. and opinion?
I am here just wondering where do you live ? what kind of car do you have? how many properties do you have ?
also if OZ property market collapse what will you do ? ( what will you invest in ? or where will park your money ?)
more, in next 3 years which asset class will you invest in ?
Hi Danny,
don't worry about the department in council, they will direct you to the right department.
Just ring up the local coucil and give them the address of the property/land you wanted to know. The local council is generally very helpful to tell you these kind of general questions
Taylor
wow I am really interested in what you guys saying now !!
I think end of the day if you scared of the big crush, then sell all your properties ….. then end of the stories.
if you want to be in the property game then stay on !
always have boom and burst, it's just part of the property cycle : ) i just enjoy the roller-coaster ride : )