I’m quite new to property investing, my first property is due for settlement next week, (-geared) but from now on I am looking for CF+ IPs.
Because we haven’t had any luck finding a cf+ property yet [
], I was wondering if anyone has good (or bad) experiences with Cameron Bird (Your property partners) as advertised in the latest API magazine. They’re talking about investing in cf+ properties, so I am wondering if any of you have bought from them. I’d appreciate your opinions. [^]G’day Celivia….
I have never heard of Cameron Bird in property, there is an accountancy firm by that name.
In any case… I would avoid any Investment Company selling property. If the one you have mentioned runs something like this…
One stop shop… Solicitor, Valuer, Finance, discounted prices etc etc…Many people to be paid and take a chunk out of your “so called” investment. Don’t believe any PI Companies Valuation… if you insist on doing biz with them.. at least get your own Independant Valuation … At times they can have the valuer in their pocket….. If you buy it will probably be at $40k or more above true value.
Suggest you run don’t walk in the opposite direction.Stop and think about it… the reason you and everyone else is finding it increasingly difficult to find +cf properties is that the Market has had a huge increase in price. The Bull market is now 6 years old and feel we are about to see some values decline. Vacancy rates are increasing… a precurser to a drop in price
Cheers and please proceed with caution
BillBill O’Mara
Real Estate,Mortgages, Option Writing & Forex. [email protected]If you ring Cameron Bird they will send you their latest project with estimated income for the property and what depreciation can be claimed, etc. resulting in the cfp. You can get on their mailing list. We’re going to Cairns soon and will probably have a look at what they have there.
Anna
Thanks Bill for your warning.
Annaw I requested the info just out of curiousity, but it might just be holiday appartments that they’re selling, I’m not sure. Anyway I’m not into holiday units, I find it a bit risky. They do claim, however, that they are cashflow positive but I suspect you need to rely on high depreciation from furniture etc to make it cf+.I’d be interested to know (and I am sure other forumites as well) what you thought of the Cairns properties they have for offer.
They sent me info on beach apartments in Port Maquarie but they’re around $400K. The return is supposed to vary from 5.9% to 6.2% (Net return on purchase price). [?] They call this high return???
I have heard forumites getting much better returns than this without having to rely on holiday units. So I think I’ll pass.Celivia,
The higher you go in price, the harder it is to get pozz cashflow. Imagine trying to get a tenant for a 400k apartment in inner melb or sydney to pay 800 bucks a week rent! You’d be dreaming. I think the only pozz geared properties are under 100k. But others can prove me wrong
kay henry
My observations over many years is that Kay Henry is right. The best example I’ve ever seen was in the window of a Peregian Estate Agent, which advertised one magnificent property for sale for $1.2m. It also said, “Currently rented at $220 per week”. The luckiest tenant in Australia, possibly the World.
This discussion makes me think that, given everything is slowing now, even going backwards in some markets, it might be time to sell all real estate assets and become a tenant.
This has been a legitimate investment strategy in the past and it might be time to consider it again.
], I was wondering if anyone has good (or bad) experiences with Cameron Bird (Your property partners) as advertised in the latest API magazine. They’re talking about investing in cf+ properties, so I am wondering if any of you have bought from them. I’d appreciate your opinions. [^]
You must be logged in to reply to this topic. If you don't have an account, you can register here.
