Off the plan property - update - Good results!!

Hi there,

Well, for those of you following the journey with me, we finally settled the property and the numbers came out great.

Here is the low down.

Due to negotiated contract price and market movements, we managed to secure the property for a total cash outlay of $3,000 for a $500,000 property and there is an additional $50k of equity that I have left in the property.Very happy with the results as you would inspect. Let us look at the deal and how we achieved this result:

- as we are in Melbourne, Stamp duty in off the plan property is significantly reduced
- we achieved a good contract price and the growth of the property value v contract price over a 11 month period was 17%

So a good understanding of transaction costs variances across different states as well as a solid investment property decision

More on how to buy off the plan property

Purchasing Property - Middle East

Hi there,

I have started an updated area looking at the state of different markets around the world.

This week we look at the Middle East where I have been over the last 3 months or so.

http://www.keystosuccessclub.com/property/property-investment/middle-east

Mark

Property Investment in the Middle East

Purchasing property - Brisbane

Hi there,

I have started an updated area looking at the state of different markets around the world.

This week we dive into the Brisbane areaMelbourne; one close to home where I have a few properties...

http://www.keystosuccessclub.com/property/property-investment/Australia/Brisbane

Mark

Property Investment in Brisbane

Purchasing property - Sydney

Hi there,

I have started an updated area looking at the state of different markets around the world.

This week we dive into Sydney; I live here but no properties yet...

http://www.keystosuccessclub.com/property/property-investment/Australia/Sydney

Mark

Property Investment in Sydney

Purchasing Property - Melbourne

Hi there,

I have started an updated area looking at the state of different markets around the world.

This week we dive into Melbourne; one close to home where I have a few properties...

http://www.keystosuccessclub.com/property/property-investment/Australia/Melbourne

Mark

Property Investment in Melbourne

Purchasing Property - Australian market

Hi there,

I have started an updated area looking at the state of different markets around the world.

This week it is the Australian property market....

http://www.keystosuccessclub.com/property/property-investment/Australia

Mark

Off the plan - Make sure you find out what is included in the price

I am continuing to update on my current investment property. We are nearly there now.

My agent locked in the tenants early, but unfortunately settlement was delayed and this caused more than a few problems. I also found out last minute that blinds were my issue, so

a) the tenants moved in and were not happy
b) I had to get someone in to custom do all the blinds which was an unnecessary expense

A few other teething properties mean some unhappy tenants and the need to organise a special hamper.

So the message is:

1) Check out what is included in your purchase price so you don't get caught out
2) Watch out for time delays as things always crop up last minute so careful what you commit to in terms of potential tenants expectations

Aside from these teething problems, the property looks good and the numbers are looking positive in what is a tricky time in the property market especially around financing.

For more on off the plan property

Purchasing Property - Understanding Off the Plan Property

Hi there,

Off the plan is a very popular mechanism to get into property as it is easy. It does however have its dangers and you need to understand a few key elements to ensure that you come out in a good place.

Off the plan property is used by developers to reduce their risk, and you need to understand how they operate.

I have a short video that discusses off the plan real estate in more detail:



Access off the plan experts

Purchasing Property- Property Development

I have had a few property questions through Keys To Success Club so am doing a property education video series.

In this video we look at the question of property development.
What is it?
Why do people get into property development?
Is it for experts only?

Enjoy!



Access propety development experts

Purchasing Property - Understanding Positive Cashflow

Positive Cashflow property is a much discussed topic compared to negative gearing property.

As the name suggests it generates more cash in rental income than you have to pay out in running costs.

However, it is not quite as simple as this as you need to consider capital growth and the overall investment risk.

A short video below explains this further:




Positive Cashflow Experts