Are you an agent or an investor?

What ways have you tried already?

All the best

Andrew

Did they provide you with a CMA?

They need to justify their price range and show you recent comparable sales.

Ask them if they have sold similar properties and what prices they got for them.

Personally I have never paid for advertising. Maybe it is common in different states but I would try to negotiate.

The written guarantee is useless in my…[Read more]

There are many many other traps that are out there for a first time property developer.

Read a few property investment and development books that are out there if you haven’t done so already.

It is also very important to start small if you don’t have any experience in property development. 2 – 3 townhouses would be a good start.

All the best

Andrew

I was thinking about developing a iphone/android application where you enter your expenses (+ photo of receipt) and rental income for my own use but haven’t had time.

When tax time comes, you can automatically print out all your expenses and receipts from one document. I think the ATO accepts copies of receipts so you wouldn’t need to keep the…[Read more]

Hi Leeann

Have you spoken to any agents yet and have shown them your house?

Not all will charge for advertising.

I don’t see the point of the Home Sellers Protection Guarantee. You decide what minimum price you want to sell your property for. Like you said agents might not agree to sign it or if they do they might use bait pricing.

All the best
Andrew

Median rents for 2 bed are $370 pw in Nundah so it will be negatively geared without and with NRAS @ $370 pw. I think it would need to rent for at least $500 per week with NRAS to be neutral/positive geared.

I think they also charge 14% management fee.

Last 5 year capital growth for units has been only 15%.

What rent did you use for your…[Read more]

Property Investment Calculator has a what-if function but I don’t think PIA does.

If you have analytical/excel skills then definitely create your own spreadsheet. It’s quite easy and you can implement whatever features you need.

But if you’re not so good with numbers and excel then either Property Investment Calculator or PIA will do the…[Read more]

Hi Tara

It is “generally” always better to rent and to invest.

Assuming you can rent for $900 pw and can rent out for $800 pw.

If you rent, your overall cost will be $900 – $800 = $100. If you live in your property your overall cost will be $800 pw. So just based on this it would be better to rent.

However you should also consider CGT. If you…[Read more]

Good on you.

You will learn a lot on this forum.

Cheers
Andrew

Hi Quachiez

You always want to take an IO loan + offset account. This way you can reduce the interest and also have access to the money.

Cheers
Andrew

Hi Mizean

Welcome to the forum.

Are you only interested in investing in NZ property or do you also consider Australian property?

Cheers

Andrew

1. Yes, it is standard rate. Some will do it for 7%, some will want 9%.
2. No you are not.
3. Yes.
4. Generally the local property manager will be better than an external company. They know the units, what could go wrong, how to respond, etc.

Catalyst is right by saying that if they have many units for rent, why would they push yours first? But…[Read more]

Hi Hot Stuff

If I was in your situation, I would focus on a neutral/positive geared property.

Your current IP is negatively geared and is costing you to hold.

Personally I always focus on neutral/positive geared properties. I don’t want the property to cost me to own it.
Negative geared properties are appropriate sometimes though.

All the best
Andrew

Hi Samson

Property A will be only partially exempt from CGT since it was rented out for 4 years. A property is only fully CGT exempt if it is your PPOR for the whole duration of your ownership.

This is not correct. If you rent out property C then it will be subject to CGT.

Andrew

I’m not trying to get into any Argy Bargy with you. It’s none of my business what you do. I am just pointing out something that people who are getting into investing should be aware of.

Do you know how many times Trump has gone bankrupt? He has to do those video, write the books etc to build up and maintain his image so people can continue…[Read more]

Yes of course I charge a fee but my goal is to get the lowest price possible for the buyer. Fee is capped at 5-10k depending on the property price. The rest is passed on to the buyer. Profit is made when you buy so it’s important to get the best price possible.

The exit strategy doesn’t need to involve selling. Personally I would never sell unless I had to.

Would need to know your financial situation in detail to comment. How do you operate as a contractor? Sole trader/company/trust?

It would be best to discuss this with an accountant. One that also knows about property. Most of them don’t.

I invest and can tell you what to do if you want to get into investing for free. It’s not rocket science. It just takes time.

I have purchased properties for others before and still do but don’t call myself a buyer agents since I don’t charge a fee to the buyer but earn my commission by negotiating a lower price which is what a buyer agent should do.

Too many property gurus targeting everyday Australians who want to get into property investing.

Most of them don’t make money from investing but from “teaching” or selling their overpriced/turnkey investment properties. They spend too much time on their image and their brand.

I mentioned this on another forum.

Successful investors don’t have…[Read more]