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Where do the numbers work

Discussion in 'Where to Buy' started by Summersky, 8th Sep, 2016.

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  1. Summersky

    Summersky Member

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    Gold Coast
    Hi all,

    How do you come across deals where the numbers stack up for buy and hold?

    What state, area and strategy do you find works best?

    I just can't seem to find anything worth putting a deposit and costs towards.

    Thanks,

    Andrew
     
  2. Scott No Mates

    Scott No Mates Well-Known Member

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    Check out the yields across the ditch thread - the numbers work for @Beano
     
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  3. MTR

    MTR Well-Known Member Premium Member

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    Hi Andrew

    Numbers have been working for me but my strategy is not the buy and hold strategy.

    The last 3 years I have been developing property and selling the lot to reduce debt. If interested search Thomastown and Croydon, on SS Spearwood, Kardinya. Check out other posts - @Westminster, @Leo2413, @Be Developer, @Rockstar and there are others. Start small and keep learning

    We are currently also buying in USA and have a number of properties under contract these will generate high returns that you wont get here in Australia. If interested view the thread on Atlanta, I think I have posted at least 1 property.

    If you are looking at buying in your home State, find out if they have networking groups I am sure there are meet ups.

    The best way to make money is to network with the right people, by this I mean people who are successful at what they are doing and have a track record and piggy back .... no BS. Did I say BS, keep away from those mentoring companies, most of the marketing is just smoke and mirrors.

    MTR:)
     
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  4. Jerry O

    Jerry O Well-Known Member Premium Member

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    As MTR mentioned, go out and network with like minded people. ask questions and learn from them. I think there are a lot of PC meetups organized by members of this group across different states. but as with everything, don't just take their word for it, go back home and research about the things that they mentioned. find the people who have done what you wanted to achieve and learn from them.
     
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  5. MsAli

    MsAli Well-Known Member Premium Member

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    @Summersky - where have you looked so far?

    "Numbers working" is a different thing to different people. It depends on your income, risk profile, strategy. Many here prefer neutral and positive cash flow..yet it may be ok to go negative say if you're buying a development property.
     
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  6. MTR

    MTR Well-Known Member Premium Member

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    Absolutely, main thing is to keep increasing net worth and cash flow and this does not necessarily have anything to do with the number of properties you hold
     
  7. MTR

    MTR Well-Known Member Premium Member

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    Networking is powerful, I am in Perth but most of my networking has been with investors in Melb and Sydney, I have never been to a meet up in Perth, just the way its turned out, I am sure its great.

    Also by networking lets not forget the re agents, they have helped me secure a number of properties in booming markets which were under market value, trick here is find a lazy agent or a dud it works very well, nurture this relationship. Unfortunately you can not use them to sell, so its a short term relationship, but keep finding another dud.
     
  8. The Y-man

    The Y-man Moderator Staff Member

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    For me it is wherever the growth in the prop value is likely to outstrip the holding costs. So typically inner city, "larger than normal" blocks if possible.

    Example:

    101 Holmes Road Moonee Ponds Vic 3039 - House for Sale #123512274 - realestate.com.au

    Near station, bus in front = likely popular with tenants (lowers risk of vacancy)

    A larger block for area (where a typical lot can be 300sqm)

    Some easy value add possible (carpet, paint)

    etc

    The Y-man
     
  9. Summersky

    Summersky Member

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    Thanks all for your input. Much appreciated.

    I used to attend the Brisbane Property Network group when I was working in Brisbane. I will be sure to at least go to the Gold Coast one.

    @MTR I have tried messaging you about your experience with US property. Not sure if I succeeded, I'm not very familiar with the functions of this website.

    @MsAli I have only been looking in the Logan area with particular interest in dual occupancy. However even with that strategy finding something that will cash flow from day one is near impossible.