Melbourne Property Investment Seminar


We went to the seminar in Melbourne on Friday evening. It covered  so many aspects of buying and selling real estate that I feel I really need to go again to be able to take it all in. Two hours of packed in information was more than my tired brain could handle. I was pleased to read when I arrived home that there will be another whole day workshop so that should be much better.
In the workshop on Friday night they went over how to use the program and demonstrated all the features within it. I have to say it is an excellent program  and makes sourcing the right property to fit within our budget and parameters so easy.  If property investment is in your plans for the future I would reccommend that you take a serious look at this tool to assist you in finding the property that is just right for you.

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  Do Your Homework!!       

1. Position - Position- Position

image from google

• Work Opportunities:       There are thousands of properties on the market at any given time so plenty to choose from, take your time and get it right. There may be high unemployment in an area or a large percentage of people receiving social security payments. These factors while not a problem in themselves can impact drastically on the value of real estate in an area. Higher socio economic areas can command higher rent and generally the properties will be better cared for simply because the occupants have more disposable income  and are more concerned with their public image so in turn they will ensure that their residence is always well presented and maintained..  You can check with local councils to see what developments might be planned for the future which would impact on housing demand.  
• Services:  Look at the local area and determine what services and facilities are available. The distance from schools, hospitals, and shopping centers are all key points to consider.  Most people do not want to be a long way from these so it will impact on the resale value of your property. Also check the quality of those facilities. Is the school one which you would be happy to send your children to?  Does the shopping center provide for all the basic needs such as food, hardware, garden supplies, mechanical needs?  Does the local council provide garbage collection?
• Aspect  A property which capitalises on the local views or prevailing weather will have more appeal than one which has no consideration for same.  Find out where the most severe weather comes from and determine how it impacts on the enjoyment of the property. For instance severe wind and rain events may cause banging doors or a leaking roof which in turn cause wear and tear on the structure of the building.  Decide whether or not the property has taken into account the outlook for the positioning of the windows to ensure a pleasant view for the occupants. 

2. Health of the Building:

1. Building Inspection:   It is important to get a qualified building inspection done before making any major decision on the price you will offer as this can have a profound impact on the overall cost.  Check foundations, plumbing and wiring, also assess the building for the presence of termites or other infestations such as rodents or even birds.
2. Determine what needs to be done to make necessary repairs and get quotes do do same. Doing it yourself is not always a good option unless that is your business. It is better to pay professional people and have the job finished and earning you an income rather than spending huge amounts of time trying to do it yourself and losing potential income.
3. The kitchen and bathrooms are important areas within the home. Make sure these are of a high standard and are functional and clean. If they are not then get quotes on bringing them up to standard and allow for the cost in determining your final offer.
4. Heating and cooling are also important considerations. Check to see if the windows are double glazed and if there is insulation in the ceiling. A house that is comfortable in different climatic conditions will have more appeal than one which is either too cold or too hot.

3. Financing:
Once you have determined all the immediate and necessary costs that purchasing the property will require you are in a position to make an offer.
Check the value of similar properties which have been sold in the area in recent times.  Aim to make an offer 10-20 % below the median price for similar properties if you are planning to pay cash.
If the owner is determined with his price then try to negotiate a vendor finance deal over a set period of time at a lower than bank interest rate. You can use levers such as the current owners can continue to live in the house at a low rental allowing them time to find a replacement property and  move in at their leisure. Ensure that whatever deals are struck that you put it in writing and both parties sign a legally binding agreement.
If these arrangements do not suit you may be able to negotiate a deal where you meet his price but gain early access, prior to settlement to commence renovations if needed. It is important to put down in writing the agreed terms so that both parties are clear about their responsibilities.









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Property Investment

This is the view from one of our current properties.

Finding the Right Property

If you are interested, genuinely interested in buying or investing in property in Australia, I want to urge you to read on because I have come across the most useful and easy to follow tool to help you make those big decisions and I will share it as we get further in.
It is an invaluable tool that will enable you to find the right property within all the criteria that you want to ensure the investment is sound. There is a lot of money tied up in real estate so it is important to make the right decisions and to do that, you need the right advice and some good sound investment strategies. So read on and I will let you in on a secret that you will be well rewarded with. I have to say this is only for people investing in Australia or New Zealand.
We have always been interested in property investment. For us it was mainly rural property which has proved to be an excellent investment as we were able to subdivide off small blocks for city people wanting a lifestyle block with a view of the ocean. Along the way the property earns an income and it gains in capital value. So it is our business, our home and our investment. The most important factor when buying any property is position, position. position Whether you are buying a house, a business establishment or a rural property, position has to be a major consideration.

• Other things you need to consider are the values and physical presentation of other properties in the neighboring area. It is no good buying a lovely home if it is surrounded by derelict homes or other unsightly industries or waste water treatment plants and so on. You need to look at what is around the property, don't buy it just because it seems like a bargain. You may have to sell it again yourself one day. .
• The physical state of the house itself, particularly foundations and plumbing as these can be expensive to repair and need to be factored into your buying price. A coat of paint will make a huge difference but is not so costly, bathrooms and kitchens can be a huge expense.
• The general trend in property values for an area, is it trending up or down? As with the share market you need to let the trend be your friend
• Work opportunities for whoever might occupy the house.
• Distance from schools, hospitals and shops, this is still part of the position, position, position formula.
• The state of the roads in the area.
• The council rates and other add on and recurring costs, you can check these with the local council
• Rental availability in the area if you are planning to rent the property for a time. You need to know there is some demand for rental properties in an area and that the market is one which will be considerate of your property. Know what the rental values are for similar houses.
• Proposed development plans for an area. These should be available from the local council. Ensure there are no plans to negatively impact on your proposed purchase such as the positioning of industrial works or roads etc.
• Do your budgets before you buy anything

For our first property we went to the bank with a budget proving we could make it pay and shared our enthusiasm and determination but we had no money to put into it. We did have a vision for future potential. However the bank manager was impressed with our budgets and our attitudes and so we were able to borrow 100% of the money . The property was a working dairy farm only 4 kilometers from town and backing on to the towns golf course.. We were young and willing to work. Within 6 years we had paid it all back in full and tripled the value of our investment. We took that money and bought another property 3 times the size of the first.
This one was further from the town but had fabulous views overlooking the beach. Lifestyle blocks for city dwellers wanting an escape or retirement investment were increasing in demand. We were able to sell 6 small blocks before the rules for the sizing on lifestyle blocks in rural areas was changed. So without interrupting the working of the farm we were able to sell these small blocks, pay for this property in full and buy another similarly sized one a few kilometers away with even better views while still keeping the first property. We are now running both properties as a farming business, loving the rural life and enjoying the friendship of some wonderful neighbors who have moved from the city to join us.
But where to now? We are asking ourselves as we are getting older and we do not want to buy more farm land to increase the work load. It is time to enjoy life, fulfill our bucket lists and allow our money to work for us.
In pursuing different ways to invest and different property options I came across this absolutely fantastic tool to sift through properties that might be a worthwhile investment.
We have a self managed super fund so I am planning to use some of the money in it to build a property portfolio for our children down the track. I will use the realestate investar to help me find the properties which will fit within my budget and ones which should be a good investment for the future.
I am including the links here for anyone who might be interested in property as an investment option in New Zealand or Australia. I do not know if there are similar programs for other countries but it does not mean people from other countries cannot use this tool. It is an invaluable resource and I have no hesitation in reccommending it to you.  Another really good thing about this program is that you can trial it for just $1 :00  for two whole weeks before you make a decision as to whether or not this is for you. 
How good is that?

Happy and safe investing!.

http://www.realestateinvestar.com.au/odau/?a=JudyE

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