Hi,
we are looking to invest in residential property. we are first timers, have looked at putting a relocatable, on some acres,but not too sure about them.
can any of you experts out there give me some advice please?
We are taking our time looking at a lot of options.
any comments would be appreciated.
Thanks Dot.[
]Hi, dot.
If you research, there are REALLY REALLY nice pre-fab homes on the market – not cheap,but no dearer than some ‘van park’ relocatables.
Check these -[www.aussiehouses.com.au]and if you look in the Sat Telegraph, there are quite a few others.
Good luck[8D]Hi Dot,
We have a couple of positive cashflow properties available now in the Geelong area if you are interested. We can offer a no money down deal by carrying back the deposit and borrowing costs. If you’re interested let me know as we have these both advertised for the first time as no money down deals in tomorrows paper (Thursday) and I know they will go very fast. It’s hard enough to find positive cashflow and with no money down it’s even better.
Fab…Hi Fablan,
I’m based in New Zealand and am looking for a positively geared investment. I am interested in the geelog properties, could you send me more info.(incl. purchase price, expected rental, rates, pics, etc?)thanx, pranil.
Hi Pranil
No offence but I wonder why you’re bothering to look for cash flow positive properties here in Oz, when there are literally 100’s (no exaggeration!!) of cf positive properties with 10% yields in your own back yard.
Was doing some research and found around a hundred in a couple of hours looking at just a few provinces.
Just my 2 cents
Cheers
David U
Hilary,
Thanks for the info, but I think we are going to go down a different path to relocatables.
Regards Dot
Hi, dot.
If you research, there are REALLY REALLY nice pre-fab homes on the market – not cheap,but no dearer than some ‘van park’ relocatables.
Check these -[www.aussiehouses.com.au]and if you look in the Sat Telegraph, there are quite a few others.
Good luck[8D]i agree,
Positive cash flow ++++++ in new zealand, stay where you are and look carefully and you will be knocked over by the abundance of property that puts money in your pocket.Tax implications are a little different but there is money to be made.Re Positive cashflow in NZ, yeeeeeeeeaaaaaaaahhhhhhhh!!!
That’s where I’m doing it. OK. I live in Australia so it will have a few problems, but nothing unsurmountable.Closing costs are heaps cheaper in NZ, i.e. no stamp duty, LIM reports are easy and cheap to get (they are the name of the council reports on properties that show subdivisions, permits, etc) – lawyers are cheap, especially in the regional towns (and why not use a local conveyancer, leveraging off their local knowledge)
builder’s reports are cheap….I paid only $270 NZ for a builder’s report done by a certified inspector that does nothing but reports, 5 pages typed, etc etccheers-
MiniFablan, I could have clients interested in your properties. Please send details to [email protected]
G’;day…
I live in Geelong myself, and am interested in positive geared property in this area, specificially.. Am having trouble with banks not wanting to lend money, so am interested in any properties you have avaliable.
Please contact me: [email protected]
Hi Dot,
We have a couple of positive cashflow properties available now in the Geelong area if you are interested. We can offer a no money down deal by carrying back the deposit and borrowing costs. If you’re interested let me know as we have these both advertised for the first time as no money down deals in tomorrows paper (Thursday) and I know they will go very fast. It’s hard enough to find positive cashflow and with no money down it’s even better.
Fab…Hi Dorthy, [
]
1. Check if you can obtain a loan for relocatables. Wait for a mortgage broker to answer this question for you.
2. On the investment front you first start out with a budget. This has a lot to do with your investment strategy. You need to consider is it to be cash flow positive or capital growth with a negative cashflow? What effects would an investment property have on your budget and on your taxation?
3. Look at your goals in the short, medium and long term as this also determines your investment strategies.
4. My mentor John Fitzgerald wrote a book called ‘7 Steps to Wealth’, it is worth reading as it explains the basic rules and driving forces behind making investment decisions. Learn to recognize for instance the important of yield as a driving force in the property cycle.
5. Learn to recognise scammers and promoters of get rich quick schemes. Remember that this is an industry where most people are on commissions and a few irresponsible individuals can become greedy.
So examine every deal thoroughly and if it makes sense to you – then go ahead with confidence.
Regards,Bryce Inglis
[email protected]
http://www.ipal.com.auBy relocatables I am assuming you mean a demountable type prefab not just moving an existing home onto a block.
Lending for prefabs is harder but not impossible. It would depend on your situation as to whether it can be done, i would certainly like to know more before I gave public advice.
Kit homes are a little better. Esp if they are erected by a licensed builder on a fixed price contract.
Get a quote for a cheap spec home done by a builder – 3 bed 1 bath type of thing. You might be surprised that it isn’t too much dearer. Easier to finance but more importantly possibly easier to sell meaning higher growth.
Just some food for thought.
Cheers,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985
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