Hi all,
I am not promoting property for sale, I am letting people know of an area that is very viable for positive cashflow investment.
I have been reading many postings on various forums for quite a few years and there are is so much great enthusiasm and encouragement from seasoned property investors.
Yet there is a lack of sharing where to target new areas.
I am letting people here know of where there is great opportunity, in my opinion, to purchase. I am sharing with you all.I have determined capital growth by looking at recent property sales in the areas I am targeting. Looking ahead at the target areas and the yet to be completed government regeneration gives me vision as to what I may expect for the area as a whole. Areas that have completed their regeneration, like Salford Quays, have had impressive CG’s, which when it is related back to the new areas currently under regeneration is some guide as to how this area may perform.
I am currently purchasing my first property in the Manchester region and as far as CG performance, I am going on previous sales of similiar property in the area.
I have no idea at the moment of what a ” chain set up” is.
Investing in the UK or NZ or Victorians investing in Queensland. My guess on this is that everyone has set their own guide lines as to where and what they invest in. Is it best to follow the flock? Only each individual can answer this question.
Time to knock off
Regards
Afloat – head above water
Hi afloat, I thank and respect you for sharing.
4 million people plus?
like the population of NZ. i certainly haven’t kept quiet about the great deals you can get in NZ.
geronimo,
“Just look at the Oasis band, imagine having them as tenants? Scary.”Hmmm….are you saying the reason not to invest in Manchester is because Oasis are from there, and there is a chance that they might rent your house?
I doubt that, they’re millionaires…they own beautiful London homes in St johns’ wood, primrose hill kinda places.
i don’t really see where you were going with that???
but I admit, they’re not the beatles, I’ll give you that…
joy to the world
guys, call me silly but what are the 999 year leases you talk about? [confused2]
I am very interested in this, the returns look awesome!
Cheers
DannadsAreas to invest like New Zealand, the U.K., Japan, forget about them.
The flavour of the month is now …………… Denmark.
Pisces
Hi Dannads,
999 year leases were made available on large tracts of land, by the crown, to wealthly businessmen/industrialists in the early part of last century. Leases were offered to give these businessmen/industrialists “cheap” land to be able to build their factories and workers homes upon.
About the 1950’s the lease due payable on individual property was £2 which still stands to this day.The first property that I’m buying still has 890 years to run.
The returns are typical in the target areas according to my situation.
And yes Mini, 4 odd million in the Greater Manchester region certainly wouldn’t go un-noticed if they all went to NZ at once for a 6 week holiday, or do you reckon you could hide a few away.
And like yourself Mini, I too am not keeping quite about the oppurtunity available for others to go march forward and conquer!Regards
Afloat – head above water
Pisces
Your question on “chain set up”, it is where people entered into contracts to purchase subject to them selling their own property first.I’ve seen instances where there have been upto 4 contracts in place. None of the properties can actually sell until the last one in line settles. Sometimes they end up in a conditional agreement as well.
Getting involved in a chain of contracts can add a lot of time onto deal. Great if you can fix the price when you’re buying and let inflation kickin.
Cheers
JeffThanks, Jeff
Pisces
pisces, joke, or for real? re: denmark?
sorry, I’m half german, and sometimes I can’t tell when people are taking the pI$$…
I heard it was one of the most expensive countries in the world to live???
joy to the world
Hi all,
Am off to the other side of this planet at the end of the month again.
Anyone want to get together and bang heads/ chew the fat regarding th UK ?
Still lots to learn
Regards
Afloat – head above water
Howdy afloat
well done…..!!
Have you looked at properties in other countries ie. Japan. USA etc>>Pisces, joke, or for real? re: denmark?<<
I was only skylarking Mini basically because last weekend Denmark was in the news because of Princess Mary.
Pisces
Yeah Afloat, I’m keen to talk more about the UK.
Cheers
DannadsHi Dannads,
Either PM me or fire away for any more general information questions.
I am going back to UK on 26th of this month. More ongoing homework to do.
Regards
afloat – head above water
Hey afloat, I’m guessing that your ‘research’ trips are going to be on the exxy side? Is that claimable against the income over there?
Are you buying in your own name, or a structure specific to UK?
Cheers
MelThanks for that new perspective Richmond.
It just confirms how dangerous it is to buy sight unseen, relying on a spotter’s say so.
Pisces
Hi Afloat,
I just want to clarify how you are buying these properties. Do you buy sight unseen? do you have an agent or someone else over there or do you fly over to check out properties?
MartinIf it sounds to good to be true..it usually is………..
We are all made from Stars
i have been looking into buying Ip’s oversea’s. basically the way dolf de roos does it. it is very fiddly (and possibly expensive) and you have to set it up correct before you even look for an IP anywhere.
heres how it works (i think)
1. set up an offshore bank account, and international business company (IBC).
2. get accountant in whatever country you are buying in to set up trust.
get accountant to notify the tax department that you are there as a non resident for tax purposes, this reduces your tax to 15%
3. no idea how to borrow the money in another country without a job there. i assume you dump money into your offshore’s company bank account and go guarantor (please dont quote me on this)
4. profits from IP (after expenses etc) are sent to offshore bank account where you can keep the money there to refinance later in a completly different country. or send profits back to australia
5. once profits hit australia, your australian accountant applies to the ATO for a reduction in interest (i cant remember what its called) and you pay the other 15% tax here through your australian company.
6. the IBC (offshore company) is used to protect your interests in australia. ie if your tennant in the UK sues the company you are still protecting your other assets around the world.I know this isnt exactly the right way to do it. i still have to nut out all the bits and pieces i know i have forgotten.
somehow i think you need a REALLY GOOD accountant for this one..
anyone know if i’ve missed anything?
cheers
shaunLead, Follow or get out of the bloody way
forget my last post, after speaking to afloat on the phone, he has explained how to do it simplier easier and cheaper.
cheers
shaunLead, Follow or get out of the bloody way
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