I agree. Capital growth is the most important thing.
Opportunity to buy house in Tregear/What an for $375,000 with granny flat. Do i?
- Thread starter kimba88
- Start date
I agree. Capital growth is the most important thing.
Just wondering is there any reason you are engaging with this particular buyer agent ?
Are you currently living interstate, oversea, or any other reason you can't get to area to find property yourself ?
The number looks ok. some cashflow, but not very exciting.....
13k BA fee ?! Do you mind to share with us who the BA is you are engaging ?
Apart from the finding the property what else do they provide including in this fee ?
Are you currently living interstate, oversea, or any other reason you can't get to area to find property yourself ?
The number looks ok. some cashflow, but not very exciting.....
13k BA fee ?! Do you mind to share with us who the BA is you are engaging ?
Apart from the finding the property what else do they provide including in this fee ?
Was engaging with the BA in hope of securing a deal i wouldn't be able to get by not having the same contacts.
Nope, i live in western sydney myself. I could have accessed it all myself too. The house hasn't been advertised as of yet, hence why the BA is trying to offload it first.
I'm pretty sure all they do is find you a property . Sorry i don't want to name the BA on here
Would you regret not following through with this purchase? Now you have your answer. All the best, it's a challenging but rewarding journey 
I wonder if you are being asked to pay a premium given the property has not yet been advertised?
There's definitely no qualifications out of this one. I think most replies on this thread may have turned me off using a BA.
By all means pay the BA $13,000 ... which by the way seems very expensive. Or you could take the time to have a go yourself and learn this business first hand.
Take responsibility for your own decisions .. you may make the odd mistake, but over the longer term you will become a much more informed and confident investor.
As far as the BA saying they can put your fee down as a Training Package .... run. Any legitimate business person running a quality service would not be prepared to risk there reputation on this sort of fraudulent advice. A BA's fee is part of doing business if that's the direction you want to take ... Pay it or don't, but I've always found that life is much better with a clear conscience.
As I've said before ... take the time to learn this business ... the rewards can be great and there is no greater feeling than knowing you are getting reward for effort down the track.
Good luck
Mystery
+1 to this!!
Sounds a lot like this one - in which case the GF is not approved..
http://www.realestate.com.au/property-house-nsw-whalan-116412687
http://www.realestate.com.au/property-house-nsw-whalan-116412687
Nah its definitely not that one. Either way, im running in the other direction from this one. My tax agent came back with some very bad information about this BA.. including that they are not registered for GST! I was enquiring with my tax agent because i was wondering about whether i could claim they BA fees listed as 'training pckage'.
I agree with the above comment, that maybe i should be experiencing it all myself.. not with a buyers agent. In saying that, my broker has a client wanting to offload a house in salamander bay near anna bay. I haven't done any research on salamander bay yet, but how is it for CG and rental yields, etc. I will look into it all, but i was wondering if anyone had any experience here with the north coast?
Central coast
Spend some time on realestate .com . get an idea on how much it's moved and returns etc .
As a rule of thumb , regionals move after capital and when they stop , they stop and can be hard to unload at what you think they're worth .
We've bought regionals and Hobart ( almost the same ) and have held indefinitely or sold for a profit in the same cycle . Buying in early and selling before the peak so we know we can get out .
Cliff
BA - small operator?
No, it would have to be a good deal to tempt me, & tha doesn't tempt me at all.
This would be a concern. You are putting yourself at risk if it's not.
Agree!
Kimba88,Hi guys,
I've been presented with the opportunity to buy a renovated 4 bedroom house with a 1 bedroom granny flat in Tregear /Whalan for $375,000. A buyers agent has told me about it. The buyers agent have a fee of $13,000 and stamp duty is about $12,000. So approx $400,000 including everything. The house is rented to long term (8yrs) tenants apparently at $320. The granny flat has been rented for $205.
$525pw rent altogether.
Is this a good opportunity or does the stigma of the area really let it down? Onethehouse.com.au have it listed at value of below $300,000 (moderate guess). Would this be correct? Or has Sydney really died in growth and I should be looking interstate or at development sites?
I currently own one house which is a duplex site in Cambridge Park. I'm hoping to get $50k-$60k equity to use as a 5% or more deposit on another house.
Any help would be great! Thanks
Basically it is just going to cover its costs.
Questions to ask:
* Is the area going to grow in value over the next 5-10 years?
* For a deposit of $50-60k there are much more better areas nationally to choose from, so why this suburb?
* You will pay LMI on this purchase as your deposit is not >20%
Cheers,
B_F
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Well i would think the market would start slowing down to be honest.. so probably not too much more room for growth. In saying that, wasn't the government selling off some of the DOH? Was hoping that would clean up the area a bit.. and when the next cycle comes around in 10yrs or so, it should be worth considerably more.
Only considered this because the BA was very convincing on saying how good of a deal it was. Glad i posted here to find out otherwise. What suburbs are you suggesting are much better?
I paid LMI on my current property in cambridge park.. just wanted to get into the market. Only put down a 12% deposit. I will pay it in the long run, but my pocket doesn't feel it right now.
All your ips put together or are you comparing individual properties?
One of the reasons for buying for cashflow IMO is to build a BIG portfolio....so when they do make CG you will see far better gains then 2 or 3 "metro area" properties
If you're comparing 10% gains on a $500k inner city property to a $250k cashflow property, then obviously the $500k property is going to come out ahead. But for a normal PAYG individual, your borrowing capacity (and servicing ability) is really limited by buying negatively geared metro area properties
e.g. 3 metro properties worth 1.5 mil on a 10% gain = $150k
10 cashflow properties worth 2.5 mil on a 10% gain = $250k
IMO the ability to buy under market value in areas traditionally linked to high cashflow is usually far better as well
This has been my experience anyway....
Sounds like Property Secrets with Paul Giezekamp
http://www.propertyobserver.com.au/...s-paul-giezekamp-avoids-tribunal-hearing.html
http://www.propertyobserver.com.au/...s-paul-giezekamp-avoids-tribunal-hearing.html
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