Who to use in Melbourne for property Investing

[Gizzy1]

Hi

My Husband and I would like to start investing in property Positive Gearing. We have been doing some home work and have a lot more to do ... I have been looking at going to some seminars to see what they have to say .

What I would really like to know is there any one in Melbourne who you have used or could recommend . I know they charge a fee for their services and you would expect them too . I would like to use a Financial adviser who understands about positive gearing and could help us to learn and start a portfolio ..

So far I keep seeing Taylored Financial Solution's, Property Investing and Positive Real Estate coming up a lot . Has anyone had dealings with any of these companies ? Could you recommend someone in Melbourne ?

I shall be doing my research on all companies and making my own decision but would love to hear of anyone who has used any of these companies to help get started .

We have around 80K in our home as equity ..

Cheers

Gizzy

 

[westminster]

There are 2 people on the ground in Melbourne that I know who can help you:

James at Qura is doing strategy sessions and buyers agent services.
http://qura.com.au/

Jake Milne at Infolio http://www.infolio.com.au/buy-a-property

I would trust them to know a lot of what they are talking about.

The other companies I haven't heard of but I would be wary of some who are in bed with developers and out to make money from various kickbacks. James and Jake aren't financial planners but are more about finding the right property for the strategy you want - both have good backgrounds.

 

[strongy1986]

Gizzy

It's hard to find decent positive geared property in Victorian let alone melbourne.
There are some options in Brisbane, Hobart, Darwin and large regionals but the whole positive property concept is a bit misleading

Firstly, low interest rates can make a lot of properties seem positively geared. At a more normal interst rate of say 6 - 7% it will be a lot harder to find these properties that are positively geared.

Secondly, a lot of the people who spruik positive property either bought their portfolios in pre boom times - Steve McKnight
Receive hefty commissions for selling new property's in regional towns without any care to wether its a good investment or not (see Gladstone)
Or they are a NBirch and invent positively geared property - it doesn't come off the shelf ready to rock and roll, you have to work for it

You can do positively geared property but to do it properly you need to think outside the square

 

[Qlds007]

No not hear to give us a plug but my business partner is Melbourne based and like me she owns more than few properties.

We have no relationships with developers whatsoever and do not promote OTP properties.

 

[devank]

1. Spent more time here. Read everything. Ask any questions.
2. Find a good mortgage broker. They are few good ones here.
3. Find a BA who operates in your interested area. Jake has been providing valuable info here.

 

[strongy1986]

1. Spent more time here. Read everything. Ask any questions.
2. Find a good mortgage broker. They are few good ones here.
3. Find a BA who operates in your interested area. Jake has been providing valuable info here.

No offence to jake but they asked about positive property. Not blue chip with 3-4% yields - that's just how it is in the areas he specialises in

I think gizzy needs to work out their strategy a bit better, first step would be a good mortgage broker so they can work out a borrowing plan that will enable them to borrow the optimum amount

Also gizzy if you do decide to go this strategy you will have to be open to purchasing interstate

 

[Gizzy1]

hi

HI everyone

Thanks for your advise. Investing interstate is not a problem as long as I get the right team on board. The same two brokers keep popping up Richard Taylor and Rolf Latham.

So I am trying to find out as much as I can about both . I shall check out the other 2 mentioned on this post as well. Thanks for all your input , I am on my way to a seminar tonight to have a look and see what they say . I have no intention of signing anything or joining anything but I want to learn as much as I can ..

I have started reading as many books as I can and studying the market .Its the broker that I believe is most important. If the finance is set up incorrectly I am in trouble.

I have looked at a few properties on the internet that can be positively geared they are out there but not in Melbourne. I have a lot of study to go any more comments are welcome ...

Thanking you in advance


Gizzy

Cheers

Jamie

 

[devank]

I have looked at a few properties on the internet that can be positively geared they are out there but not in Melbourne.

Generally, 'positively geared' properties come with a 'string'. There is a reason for that 'positive gear'. Otherwise, the value of those properties would have gone up already.
In my opinion, it is lot easier to manage 'positive gear' property in your own state and reserve the capital growth properties for intestate. That is just me.

 

[Jamie M]

Hi Jamie

Both Richard and Rolf are excellent brokers - you won't have an issue with either.

If you need face to face contact then there's also Peter Tersteeg who posts on here as PT Bear.

I'm not sure how you're going to go finding CF+ properties in Melb though - you may have to venture elsewhere if this is the main focus for you.

Cheers

Jamie

 

[Jake Milne]

No offence to jake but they asked about positive property. Not blue chip with 3-4% yields - that's just how it is in the areas he specialises in

Pretty much... Melbourne isn't where you want to be looking for CF+ property.

I can help with Ballarat & Bendigo. There are CF+ and CF~ opportunities there but I'd honestly concentrate on more than 7% yield and that rarely exists in Victoria.

edit: Thanks to all for the kind words, you're too kind

 

[MTR]

I would say very difficult to find positive cash flow properties in Melb, unless you got creative and started developing etc.

My bet is QLD, I spoke to my agent and apparently Nathan Birch is buying up in Gold Coast at the moment, I think that's a good sign, and many investors jumping in as the yields are good and that market is tightening and when this happens you generally get growth.

The product, I would stick to houses/Gold Coast as there is an oversupply of units. Look at Nerang.

Cheers
MTR

 

[devank]

The product, I would stick to houses/Gold Coast as there is an oversupply of units. Look at Nerang.

One property company was trying hard to convince me to buy an apartment in Nerang about 9 months ago. Initially I thought it was a house but when I realised it was unit I let it go.

 

[Jacque]

Gizzy

It's hard to find decent positive geared property in Victorian let alone melbourne.
There are some options in Brisbane, Hobart, Darwin and large regionals but the whole positive property concept is a bit misleading

Firstly, low interest rates can make a lot of properties seem positively geared. At a more normal interst rate of say 6 - 7% it will be a lot harder to find these properties that are positively geared.

... it doesn't come off the shelf ready to rock and roll, you have to work for it...

You can do positively geared property but to do it properly you need to think outside the square

Now if only more first time investors realised this- so very true Strongy and you make some valid points.

 

[MTR]

One property company was trying hard to convince me to buy an apartment in Nerang about 9 months ago. Initially I thought it was a house but when I realised it was unit I let it go.

You made the right choice, as there is an oversupply of units, however, houses different story, they are flying out the door at the moment. Demand outstripping supply, when this happens, next on the agenda will be the prices rising.

Cheers
MTR

 

[BayView]

I would venture to say that the only way you will get a Positively Geared property from day 1 in Melb will be if you put in enough cash of your own to more than cover the whole of the outgoings.

If there is such a place where you don't have to do this, can someone let us know and we'll all buy a few each.

Oh yeah; and I want a minimum 10% CG per year too, thanks.