I am a 23 years old I have 120k in the bank and I earn about $10 000 a month after tax. I am looking invest in real-estate for my first time, i would like to build a good portfolio over the next few years. just looking for some advice.
I am interested in investing in Townsville or Brisbane. And don't know if i should buy a house or a block of flats to start off with and renovate them.
any information or examples/strategies to build a good portfolio would be much appreciated.
It's a great time to buy in Brisbane. A family friend told me on xmass day that he had just sold a unit he bought in Beenleigh a few years ago for a $65,000 loss. Poor rental returns and escalating body corp fees finally caught up with him and he could no longer subsidize it out of his day job. Apparently the buyer already had it sold before settlement but I think this might be the result of a proxy buyer doing the acquiring for the legitimate buyer.
Real estate agents will often do that in tough times, they will isolate a property from genuine buyers and talk the owner down and down until they can get it at bargain price. Then "their buyer" appears with a lowball offer and the owner is encouraged to accept it. Sometimes the property ends up back in the hands of the agent for his own portfolio.
Be very careful with agents. They are the scum of the earth and will snatch a white cane out of a blind man's hand.
Don't over-leverage yourself and make sure that 10k a month job is secure. Just in case interest rates rise or rents fall and you need it to subsidize the properties.
Get yourself across all the types of entities (Private Company, Public Company, Listed Company, Partnership, Individual, Family Members, Unit Trust, Family Discretionary Trust, Super Trust) and how they are taxed with regards particular transactions, and what rules say they can, can't, and must do ...
Get yourself across all the types of entities (Private Company, Public Company, Listed Company, Partnership, Individual, Family Members, Unit Trust, Family Discretionary Trust, Super Trust) and how they are taxed with regards particular transactions, and what rules say they can, can't, and must do ...
Get yourself across all the types of entities (Private Company, Public Company, Listed Company, Partnership, Individual, Family Members, Unit Trust, Family Discretionary Trust, Super Trust) and how they are taxed with regards particular transactions, and what rules say they can, can't, and must do ...
Thanks for all of you insight guys, very helpful and interesting information. I have been reading a book by petter span. it is a very interesting read and do recommend it (how you could build a $10million property portfolio in just ten years).
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