Category Archives: Buying

Buy the house next door

Buy the house next door

I dare you to buy the house next door, there are several reasons for this. Imagine building your property portfolio from houses on your street. Monitoring your properties would be as simple as walking outside. You’d save time on inspections and as a busy property magnate, time is money.

Buy the house next door

Building your property portfolio of houses on the same street is very attractive for several reasons. The major reason is that when it comes time to sell, you could sell the properties in a package to another investor, earning yourself an outright lumpsum on top of the income you have accumulated over the years as you have purchased the houses on your street.

When you buy the house next door you are securing three advantages to this method: Firstly, is the advantage of convenience. This goes a long way and makes it a lot easier to communicate with your tenants and monitor the maintenance needs of the property as time goes on. By having a good relationship with the tenants, they’d have an incentive to stay for the long term.

The second advantage being security is a big one. Being able to monitor the condition of your home is an advantage in terms of insurance but also in the event of a burglary.

The third advantage is that you will likely be able to negotiate a better rate with your real estate agent. Getting a better rate puts more money in your pocket.

If you have any ideas or experiences you’d like to share about buying the house next door to you get in touch so we can improve this article.

Buyers guide to success

Buyers guide to success

If you are going on a property shopping spree than you’ll want to read this article. Have you ever heard the term “leave it to the professionals”? That’s well and true but leaving things to the professionals when you are planning on going on a property shopping spree gets very expensive in terms of real estate agent fees, very quickly.

Network and speak with as many real estate agents you can, be upfront and tell them that you are sounding them out for a few purchases and want an honest and transparent conversation about properties within their area. If they are interested, they will respect the boundaries and not oversell themselves. Never go with an agent who oversells themselves.

Take note of everything that the real estate agents are saying to you. If you build enough rapport with them, they may even print out a few market reports for you about the areas that you are interested in.

Speak to competent accountant who can explain the ins and outs of purchasing the amount of properties you wish to purchase, they will be able to give you an idea of the stamp duty costs that you would be expected to cover.

After speaking to the accountant, I’d then speak to a conveyancer about negotiating a competitive rate for the bulk purchase of properties. Minimize costs where you can but make sure you are as fair as possible.

If you are buying many properties, try and secure the services of a real estate agent who is on holidays / looking for work. They can protect your privacy until it comes time to sign the contract and negotiate a good purchase price for you, without all of the costs that come with retaining a traditional real estate agent.

Make sure to spread your purchases out across postcodes, you want to diversify your portfolio to minimize your exposure risk to civil works or other developments which may negatively impact on your investment.

By following this tips and tricks you are on your way to success. The trick is to maintain as much confidentiality as you can about your intentions whilst speaking to as many people as possible. Don’t engage with real estate agents who are solely in it for a one time sale as they won’t believe that you want to purchase properties in bulk.

How to buy a home

How to buy a home

Buying a home has never been so accessible as it is now, with LinkedIn and real estate platforms online. Getting in touch with an agent or seller has never been so easy. However, sometimes taking the path of least resistance isn’t always the right one.

When you are shopping online for a home, it should be for research. It’s the agent’s job to market the property and make sure that the best angles of the property are shown. You should be researching about the property market for properties that are within your budget.

When you have found a home within your budget, get your lawyer / conveyancer to go over the contract and negotiate the additional / extras you want. When it comes time to sign the contract, forward it as soon as you can to your mortgage broker so that they can organize finance for the property.

You may have to negotiate a longer settlement period as the standard period is 21 days but may be extended to 42 days to allow the banks to catch up and get themselves organized.

You may have to organize a valuation on the property before the banks agree to finance. The seller has likely gotten their property valued recently but the banks may not accept that.

Once the contract has been settled and your property has been registered in your name you are now the owner of a new home. The process is scary and daunting at first but you will get used to the process as you become a successful property owner.

Why you should live near a beach

Why you should buy near a beach

You should buy a house near a beach, it offers fantastic natural light and an unlimited amount of fresh air. Buying a house near a beach will do wonders for your physical and mental health with one caveat. There’s lots of people and it can get quite noisy.

Buying near a beach will encourage you to get physically healthy. Now you can take advantage of the morning sand and go for a nice barefoot run along the beach. When you buy near a beach you are also buying a ticket to your health back.

Buying near a beach will be the healthy envy of all of your friends, they will now have a new favorite place to wine and dine.

Buying near a beach is a good investment, as the population grows housing near the beach will only get more sought after. If you do not wish to live near the beach you can take advantage of leasing out your place for short stays.

Buying a house near a beach is a good investment for people who are not interested in maintaining long term tenants and want to take advantage of short-term tenancy options. Why bother renting out your property for $600 a week when you can make that same money over the space of a few nights and have greater control over who is staying in the house.

why you should buy a duplex

Why you should buy a duplex

This article will discuss why you should buy a duplex. A duplex is a large divided townhouse.

These two divided units share a boundary known as the dividing wall that splits the two houses.  This is known as having a dual occupancy even though they are the same building, they are technically a separate home with they own bathrooms, bedrooms, kitchen, garage, backyard, entrance and front lawn.

It is possible to have these units on separate titles or single titles, this means that it is possible to sell the units together or separately.

The division of the duplex legal titles is a common choice as investors have put money upfront and want to see an inflow of cash fairly quickly, so keeping one for rent and selling the other is a common practice.

It’s also common practice to refinance them as upon valuation you’ll see a significant increase in equity.

Building a duplex will achieve a good valuation from the bank, creating instant equity which can help you take out more finance to build more properties. Essentially accelerating your goals.

You should buy a duplex because they are a great source of income potential. Duplexes are ideal for diversifying your rental portfolio and getting in regular sources of rental income. They also appreciate in value fairly quickly as they are becoming popular in outer CBD areas.

Duplexes are very advantageous to owners because they add a lot of natural light and effectively double your rental income. It’s a fantastic investment option. If you have land and wish to build a duplex, you should take the leap and do it. For the price of building a luxury home, you could build a duplex and double your rental income.

The only thing you have to take care of is maintenance, insurance and the interest payments on your loan.

Using a land and construction package is a fantastic way to take advantage of your house purchase options. The value of your property will increase fairly quickly upon completion of the build. This kind of equity is known as “instant equity”, whilst is a theoretical, if you do decide to sell then you are likely to see a valuation reflecting the sum of instant equity.