- The only other way…..
Not sure this is correct….there are absolutely heaps of ways of creating +CF.
I wouldn’t mind knowing that website Cazza69 !!
I am not convinced there are positive cashflow properties still so I would like to see a site that lists only Positive Cashflow properties.
Can you PM me the website link please. I can’t seem to send PM’s for some reason – probably ’cause I just signed up???
that was quick – thanks cazza69. Looks promising.
Sorry I cant PM you back sorry – getting them in ok – cant send though. Thanks for your help.
For all the people looking for cash flow positive property investments and can’t find any just 3 pieces of advice, LOOK HARDER, LOOK HARDER AND LOOK HARDER.
Hi again if you need the link to that website there probably is no use pm’ing me as I never check my hotmail account and I rarely come on here. I have checked with cazza69 send your request to her she said she doesnt mind. thanks
In reply to Kevjosh about holiday rentals, yes it is true that you lose a considerable amount of money to management. In the contracts we have been under it actually states that the rent is shared, they receive 42% +GST and expenses come out of your share. Our properties are in the Gold Coast which is of course a high tourist area. It also attracts a lot of people on working visas so we have opted to go for permanent tenants who want the resort lifestyle. There is a bit of a turnover due to te nature of the area, but we have not paid letting fees for the last 2yrs alsthough there has been turnover because there is such a waiting list and vacating tenants have paid it because they have left before the end of the tenancy agreement. If you can get hold of dual key apartments in newer buildings at a reasonable price as we did they are +ve cashflow from day one. Check body coporate rates carefully before purchase as the real estate agents tend to tell you one figure and you later find out it is incorrect or they have not included the sinking fund amount in it which can sometimes be quite substantial. You also need to be aware of some issues with council to avaoid being overcahrged with rates. There is money to be made in tourist areas.
Kate[thumbsupanim][tongue]Ok I am answering Lee’s question on HOW to buy your first +cf.
1.Save up $9000 (20% deposit)
2.Buy a property in Queenstown or Zeehan or Rosebery in Tasmania for $45,000. Rent it for $90 per week.
3.Save up the stamp duty and conveyancing cost during the 6 week settlement.
4.I recommend buying sight unseen. I have bought 10 properties this way.
5 Good luck, there are tons of +cf all around Australia. Don’t listen to the negative people that say Queenstown is too risky. If you are buying to hold and not sell then there is nothing to worry about.
6 Your investment will go up in value.
I should know, I’ve been a Valuer in Sydney for 20 years.
And I’m female, incase you were wondering….hi yes im a newbe
just starting out and looking for IPs
just wanting to know how people feel
about properties in broken hill at the moment
as i seam to have found a few positive cash
flow properties out there.
markBroken Hill is excellent for +cf property.
Originally posted by 1HotValuer:Ok I am answering Lee’s question on HOW to buy your first +cf.
1.Save up $9000 (20% deposit)
2.Buy a property in Queenstown or Zeehan or Rosebery in Tasmania for $45,000. Rent it for $90 per week.
3.Save up the stamp duty and conveyancing cost during the 6 week settlement.
4.I recommend buying sight unseen. I have bought 10 properties this way.
5 Good luck, there are tons of +cf all around Australia. Don’t listen to the negative people that say Queenstown is too risky. If you are buying to hold and not sell then there is nothing to worry about.
6 Your investment will go up in value.
I should know, I’ve been a Valuer in Sydney for 20 years.
And I’m female, incase you were wondering….Hi hotvaluer
I did a quick search on the places you have suggested above and was surprised to see so many on the market and not one of them was ” currently tenanted” . I am sure that the negotiating would be in favour of the buyer but its not much use having a cheap house if you cant get anyone to rent it. No offence but these small towns can look good on paper and the houses can seem like a bargain but with out rent they are not +cf.
Hi everyone. My name is Dave and i am new to this game, i moved here from NZ about 8 months ago. ( please dont hold that against me [blush2] ) I have had property investing on my mind for the last 5 years but have lacked action. ( i guess i have wasted a lot of time ). I watched a friend purchase 14 homes in three years.
Anyhow since being here i have read tones of books and purchased Hans Jakobi’s wealth creation course.
I have only known about Stveve’s success for about 2 months and have purchased 2 of his books and his buyer beware stuff and read them all.I have analisis Pralisis and need to take action now.
I guess what im after now is just some help.
I used to do nothing but now im at home every night after work looking on the net for CF+ houses/units.
The thing is i have a hard time finding them.
Does anyone know of other means to find them. (Apart from the net ) or are i using the wrong sites or critera.
I generally look around the areas of the capital cities and at a max price of $150.000
I am time rich but money poor as im just starting out over here.
I have a house under contract but that is to live in. and it is certinally not CF+.
I have been thinking of saving the $600 or so per forghtnight i will be giving to the bank if i buy it and staying where i am but my partner wants to get it and we do need a place + hopefully in a year we might be able to start investing with the equity.The Real estate agents dont really seem to help as the think im a little crazy when i ask for homes, 2 bedrooms + 150 price range rental return of around $300.
” they dont exsist ” they say. Which i know is rubbish..Also how excact does the 500/1 or half the rent x 1000 have to be?
say if a house was 150000 and the rent was 280. would that be good?Thank u to anyone who replys.
[baaa] From the Kiwi
[biggrin]Hi all
Since my last ( and first ) post i have actually read all 10 pages of this forum and some of the questions i asked have been answered
Thanks heaps
Any further info would be great
And Cazza69 i would like to know that site also
can u Pm it to me
Ta
[email protected][baaa]Hi Evad
If you have read back over the past 10 or more pages you can see that you will just not find CF+ properties by simply looking on the internet and waiting for a under 200K to pop up that rents at $300/wk. I think the main message from all these more experienced folk is that you have to get off you butt and get out there and explore alternative options. If they were that visible everyone would have one. There have been plenty of people on this site will to tell their stories – they have all found creative ways to solve property problems.
Keep your eyes and ears open and get out there and look around
Hi
Saw Broken Hill mentioned as having +CF deals available. Does anyone have upto date info on Broken Hills future prospects. Have done a bit of search but no upto date info found. Some interesting properties, and not many on the market for rent or sale. Does anyone have propety there or have any interesting info.
Thanks
GlenHi all
i recenlty got a p/i under a company name
im having problems finding an accountant who deals with properties under a company.
Has any one got any recomendation’s
and does any one have a P/I under a comapny atm.Hi all ,new to this forum,not new to property investing!!! since joining property .com i have found a property which was on the market for a while ,it is actually an old garage ,14 sqs, on 300 sq mtrs of land. It has a kitchen and a bathroom and one bedroom ,the external cladding has been rendered in sand and cement.I had a building inspector look at it, pre purchase, giving me a list of requirements to bring the building up to a saleable situation cost $150 .The list price was$ 84000 i paid $70000 ,i intend to spend $50000 on renos ,my valuer expects 190000 on sale or rent it for $180.You do the math!!!! I found this property on the net as i find 99% of them !!! I am currently doing the results course when i have time!! I do small sub divisions ,build on one ,sell two vacant blocks,etc never had a clue about value adding or positive rentals watever you call them???? DO NOW!! They are out there ,a good place to start is the internet ,then get out there and look at them!!!!Do the figures and dont look back ….cheers john ….[medieval]
Thanks John for your words of encouragement. We can’t all snatch the jobs and go galavanting around the countryside. I have done heaps of research via the net, (and a couple of purchases, one sight unseen) and while less than ideal it beats the hell out of doing nothing. Hope you do well with your deal. Again, postive comments (when true!) are good. Thanks
Hi v8 its probably important to note i am a plumber / building estimator by trade,which helps when evaluating property upgrade costs.The woman i purchased the property from, dumped it when she got qoutes from various builders, the property is in east gippsland ,the builders quote at 10-12 thousand dollars per square , i use simonds homes who are around 7 thousand per square , then i add all the bells and whistles.(decking,landscaping etc) which works out well except for the time it takes to get to, contract stage ,then construction, then marketing and hopefully sold .This is 16 months all told which can be costly!!!! my point is, learning some estimating skills is helpfull !!!!when you are looking to” value add”/ renovate etc .You can buy a copy of the rawlings text ,which gives you everything priced per square meter,you then must enter pricing which is relevant to your local tradesmen !!! getting that info can be tricky!!! without prior relationships intact !!! cheers john whitelaw…….
Try Ravenswood, Launceston TAS ie http://www.realestate.com.au/cgi-bin/rsearch?a=o&s=tas&cc=&c=11720116&tm=1155974182&id=103298292&f=0&p=10&t=res&ty=&snf=rbs&ag=&cu=fn-rea&fmt=&header=
3brd $128K rent $150wk
So what if you successfully got it for say $115K, divide by 2 (58) and multiply by 3 (168) so it will cost $168 per week in mortgage payments and a bit towards rates etc. So you increase the rent to $170 and see what happens or purchase for $100k ( /2 then X 3 = 150) that would be cash flow positive.Also try looking a properties with a twist ie old disused post office and postmaster residence with separate curtilages on one title, or a three bedder with a granny flat on a corner block (make separate entrance for granny flat to increase rent)
A dive of 4 units, get rid of bad tenants, keep the regular payers and reno one at a time and put 50% increased rent on reno units. (may cost a bit for the reno but mostly tax deductible in some way) Also get it revalued for increase loan amount for another deposit.These have been done in the last two years, and we are still looking.
Hi Lee, we started by enroling in the Results 2 program run by Property investing………….
Maybe call up and have a chat with Jeremy in the offic, he may be able to help you with a program!!..
Good luck,,,
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