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hi all, new to invested

Discussion in 'Introductions' started by perith, 4th May, 2009.

  1. perith

    perith New Member

    Joined:
    4th Apr, 2009
    Posts:
    3
    Location:
    sydney, nsw
    greetings everyone.

    i'm a recent visitor to this website and have been doing a lot of reading on real estate. i'm currently looking for property to invest in and was hoping to get some hints from everyone here. in any case i'm enjoying the discussions and learning lots of things while exploring the site.

    thanks!
     
  2. Simon Hampel

    Simon Hampel Co-founder Staff Member

    Joined:
    9th Jun, 2005
    Posts:
    4,623
    Location:
    Sydney, Australia
    Where are you looking and what type of price range ?
     
  3. perith

    perith New Member

    Joined:
    4th Apr, 2009
    Posts:
    3
    Location:
    sydney, nsw
    right now we're looking in either eastern suburbs or around macquarie uni for 800 or under. eastern suburbs for under 800 is kind of impossible to find a decent place tho. however thats where we are the most familiar. right now we're debating between a house (PPOR then IP) or 2 apartments (1 of each).

    edit: are there any good classes to take in real estate and tax courses for non-finance and non-accounting ppl? real estate i was thinking of taking some real estate agent courses, but i dont know about tax courses.
     
  4. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Perith

    Try not to restrict yourself just to areas you're familiar with, as Sydney is a big place with lots of suburbs that meet your criteria. Buy yourself the latest Residex report (end March quarter 09) and have a good read. Not only does it provide a rundown of the current climate but also has all the cg rates and yields that you'll need to make an informed decision.

    For past sales info, look up RPData, Residex or Home Price Guide. Read all the relevant literature you can, including magazines such as API or Property Investor for further ideas/tips.

    There's also the option of engaging a professional to do the search for you- a good independent Buyers Agent can save you their fee and more due to their negotiating skills and intimate knowledge of the marketplace (shameless plug but its true!) as well as provide with a learning experience along the way of how to select a good investment and what to look for.

    I believe it's a great time to enter the market now- whilst rates are low cashflow is improved and yields are still in a rising phase in most of Sydney's suburbs. Given that Sydney has hardly moved in many areas since 2003/04 it's a stark contrast to the rest of Australia.
     
  5. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    A good starting point on property tax issues would be to read the rental property guidance booklet the ATO publishes. Rental properties 2007-08

    There's also a good book on Rental Property Taxation by Tony Compton Rental Property & Taxation - now in 3rd edition.

    Keep researching and learning. Good luck with the property search - check comparative sales and bargain hard.

    Cheers
    N
     
  6. perith

    perith New Member

    Joined:
    4th Apr, 2009
    Posts:
    3
    Location:
    sydney, nsw
    question on where to study

    another quick q. if i wanted to get a certificate of real estate to become a real estate agent, where's a good place to study? i would prefer an actual class instead of elearning. preferably something that will prep me fairly well for a job as an agent or property manager.
     
  7. Jacque

    Jacque Team InvestEd

    Joined:
    16th Jun, 2005
    Posts:
    1,885
    Location:
    Sydney
    Hi Perith

    Can I ask why you want to do a RE course? Just curious....

    First start, as it is for all who want to enter the industry, is to attain your Certificate of Registration - check out REINSW for further details. You can do it via elearning but will learn more going into the city and doing it there. There are other institutions that also offer the course. Do a search on Certificate of Registration and you'll soon find them.
    Best of luck