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Vic Wasteland Thread

R31Nismoid

By R31Nismoid,
in Victoria

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dezz Grand Master

dezz

Posted
Posted

Both can make you money just differently.

Capital growth gives you a big payout (minus capital gains tax) if the property shoots up in value.

Whereas high rental yield will pay off the mortgage repayment allowing you to borrow against it for another property etc. if the rentals are paying themselves off, eventually you'll have a steady stream of rental income trickling through as profit.

Yeah the second one sounds more like what I want... Can't see the value of the properties going up that dramatically any time soon.

What's the go with the 5 year stuff, buying a house withn 5 years old etc, for claiming depreciation or whatever...if you buy a 4 year old house, does that mean you only get a year of whatever that claim is...

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joeyjoejoejuniorshabadoo
joeyjoejoejuniorshabadoo

probably worth more than your D1R's

Mohsen
Mohsen

i kinda want one. name him al pacacino.

Birds
Birds

You laugh now, but when I'm at a formal occasion with a shitty DJ and they need someone to drop Dre beats...I have something up my sleeve.

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Rekin Grand Master

Rekin

Posted
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Or you buy an old property, Reno it with your tradie contacts & either flip it or rent. If you flip it you will have to pay 40% tax on the profit else just rent it for a larger sum which puts it close to the mortgage repayment.

Rekin Grand Master

Rekin

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Yeah the second one sounds more like what I want... Can't see the value of the properties going up that dramatically any time soon.

What's the go with the 5 year stuff, buying a house withn 5 years old etc, for claiming depreciation or whatever...if you buy a 4 year old house, does that mean you only get a year of whatever that claim is...

No idea in that space. Only have experience with old properties.

Anyone can buy a newish house and rent it. Put in the extra effort and buy a project to reno & get more rent for your buck.

Rekin Grand Master

Rekin

Posted
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cbf with renos at the moment... looking to buy something ready to rent... or consider building if that worked out more profitable somehow...

Buying off the plan can work out better however you'll have to wait until it's built. Buying a house and renting to a family could give a better rent:mortgage ratio than an inner-city apartment to a single person.
alr33x Grand Master

alr33x

Posted
Posted

Speaking of houses, got any tips for good areas to buy an investment property Alex? Jess suggested Altona Meadows, anywhere else? Tarneit any good?

Yeh depends what your after - I wouldn't go altona meadows myself i think seabrook has potential can get a good size block with a house on it for under $400k surrounded by suburbs that similar blocks cost $300k+ alone

Leroy Peterson Grand Master

Leroy Peterson

Posted
Posted

With so many people trying/doing exactly the same thing (buy, rent out, negative gear, buy again) where will the market go? The rental market is flooded with houses at the moment, a lot of them overpriced because people need the money to pay off the mortgage.

If rent is so much cheaper in the CBD than the burbs, i think rental prices are going to spread from the cbd outwards and shrink purely because there are so many investment properties & town houses popping up. Especially when a lot of older folks are trying desperately to make up for their lack of super. That plus foreign money snapping up properties... Somethings gotta give in the next few years.

Leroy Peterson Grand Master

Leroy Peterson

Posted
Posted

I reckon every 3rd-4th house i inspected last month had a for lease sign before even the For Sale sign had been taken down. It doesnt look good because you know the owners havent done much/anything to the house and are possibly going to be tighter than a ducks butt when it comes to costs.

joeyjoejoejuniorshabadoo Grand Master

joeyjoejoejuniorshabadoo

Posted
Posted

lol @ the block first world problems ... My owners would be doing back flips to get 10k, 40k over reserve! Shit even to get reserve!

101%

mopst of my properties that go to auction do not hit reserve.

Speaking of houses, got any tips for good areas to buy an investment property Alex? Jess suggested Altona Meadows, anywhere else? Tarneit any good?

Altona North, right on the border of Williamstowm/Newport has a few bargains left over your side if you want to play the capital gains game...

rent it for a larger sum which puts it close to the mortgage repayment.

This is hard to achieve without extensive work done by yourself (then you have to value your own time)... Even interest only

Hi jezza

How's the band going

Thought the same.... lol'd

Strongly advise not to buy off the plan apartments / land etc

This.

gtr jet Veteran

gtr jet

Posted
Posted

Yeh depends what your after - I wouldn't go altona meadows myself i think seabrook has potential can get a good size block with a house on it for under $400k surrounded by suburbs that similar blocks cost $300k+ alone

Have you tried to drive in and out of Seabrook? It takes me almost half an hour to drive from Altona Meadows to Seabrook Blvd after work and it's like 5km...

Leroy Peterson Grand Master

Leroy Peterson

Posted
Posted

tried newish burger joint in Huntingdale: Burgled.

burgers are under $15 and were pretty tasty.

Had a japanese-style? fried chicken burger with asian slaw and wasabi aioli. $11. quality sweet roll. do recommend.

next SAU monthly meet. they open late and huntingdale is dead after hours. plenty of parking.

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