Your Property Success Toolbox

Here is the summary for those who want a quick overview for the month on everything to do with property.

Do you ever wonder where people get all the information from that allows them to make the ‘right’ decision when purchasing a property? There is no one answer to that question.

The truth is successful property investors build up a toolbox of information that they put together that allows them to evaluate what is happening in the economy and the property market. Only once you are armed with the tools that allow you to seek an opportunity and the ability to not only fit them together, but also to fit into your personal goals and strategy, are you then ready to pull out your chequebook.

For over ten years I have been gathering the tools I use to assist me to buy property. Some of these are subscriptions to newsletters, that anyone can sign up for, some have only limited release, others are full of great information but the providers are not that great at letting people know how to get them. I see my role in assisting you to not just gain the education to make astute property buying decisions but to also share with you those secret reports and resources I use.

If you would like access  a number of videos covering a range of property investing topics make sure you sign up here www.yourpropertysuccessnow.com.au

 

Make sure you signup to get up to date changes and to get next months review. Updates will be made mid month when all the magazines are out and available.

Monthly news

The RBA reduced rates in May by 0.5% only 2 out of 30 economists predicted the big reduction, as did John Edwards of Residex. The banks have been slow in passing on the rate reduction, and they have only passed on some of the actual reduction not all the 0.5%.

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Reports you should read

Victoria in Future 2012-2031

This report is a must read for anyone looking to buying in Victoria in the next few years. This looks at where population demands will be… and you would expect this demand will prove an increase in property values. The largest population growth is out west Wyndham and Greater Geelong. This report is the type of report you should be looking out for, it gives you not just interesting data but it is what developers, councils etc will use to work out what they need to do in coming years to satisfy population requirements. The astute investor look for these type of reports and keep them in their toolbox. Click here to view the report —> Click here to view the report PS Check out the changes in house composition – huge growth in single person living.

QBE lmiBAROMETER 2012

Annually mortgage insurer QBE puts out their State of the Nation. There is lots of interesting reading. Of those surveyed 61% plan on buying a property in the next 5 years and 40% think that 2012 will be the best year yet to buy a property. Click here to download the report. The survey was from just over 1100 people however as you will see they are home owners, first home buyers and investors and the information gives an interesting view of who is buying, where and what their demographic is.

Herron Todd White’s Month in Review

As every month you just should be subscribing to the Herron Todd White monthly report – with hundreds of valuers out there every day you get a glimpse of up to date commentary on the market.

Seriously these guys are on the ground daily and have a better than most attempt at telling us how it is. Yes they do look at regional areas as well so we have are just not limited to major capital cities. This month Kieran Clair continues to entertain with his overview and musings. Too quote….

There was some turmoil during the past year or so in case you hadn’t noticed. a couple of little hiccups… nothing much. Just a few forces of nature, one or two sovereign debt wobbles, a general loss in confidence in politics. a trifling really… so to quote the Joker “Why so serious?” Access the full report here  Month-In-Review-May-2012

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Websites, Apps and Subscription’s you should signup for – yes most are free!

Applications for your mobile devices seem to be the thing – there is certainly a lot of companies investing big bucks in free applications, I think they will become the new business card of the future so watch this space.

RPData is one of them. Subscribe to their channel on You Tube and you will get a great monthly update in less than 10 mins. This month Tim Lawless looks at median values (only Sydney went up), rental yield and vendor discounting. This last measure is interesting as for those buying this gives you a clue on where you might start making your offer – according to RPData this is over 7.2% across the capital cities. ie the average difference between original asking price and final selling price. Interesting tools you can add to your tool box. Here is the link to the channel

Check out Kevin Turners new online radio program Property Uncut I recently recorded an interview with Kevin on the top financing mistakes investors make – check it out.

If you have any Applications or websites you love then pass them on enquiries@yourpropertysuccess.com.au

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Magazine Summaries and Reviews for the Month May

Money Magazine May 2012 Expert Real Estate Guide

Money magazine this month covers the top 14 myths of property buying – a great read.  There is always so much to read in this magazine. One thing I particularly liked this month was a letter from a 80+yr old ex-school teacher. She made her class remember this saying

“Resolve not to be poor” Dr Johnson said. “Whatever you have, spend less. Poverty is a great enemy to human happiness; it certainly destroys liberty, and it makes some virtues impracticable and others extremely difficult.” This is still relevant today – it was written in 1782.

On the last page you can find a free ticket to the June 1-4th Home Show in Sydney. Come along on the Saturday and Sunday and see me cover the tips I think home owners can steal from investors so they can make their home start working for them. Here is a brief look at the talk from the Melbourne HIA Home Show.

 

Your Investment Property magazine May 2012 Australian Best Rental Suburbs

As the title suggests they are looking at rental yields and the winners are… well you will have to read the magazine. However here is a hint there are areas that are NOT in mining areas but have they do have great population and industry strengths. There is also a great article following 5 case studies of investors who have used safe strategies to invest.

 

Australian Property Investor June 2012 Young Millionaires

One regret most successful investors have is that they didn’t start sooner. I know I wish I did. This months cover story is inspirational five investors under 40 share their investment journey. One of the investors has a potential $22k per WEEK rental income which is very impressive, however not so diversified geographically. Actually if there is one thing in common with most of the investors is that they seem to buy repetitively in a market they have exposure to and you would gather ample research on.

Troy Harris, from Rookie Developer is also profiles he covers the strategies needed for property development a great overview. There is also a great article on what to do pre June 30 re your tax position – read this. Interesting article from KPMG’s Bernard Salt who takes us through the process he used to buy an investment property last month. It seems that after all his research he stumbled upon a bargain in a suburb he was not even considering. However knowing Bernard I have no doubt it did a lot of research quickly to verify his buying decision. I am going to ask him next time we catch-up so stay tuned. PS He bought in Hawthorn Melbourne.

Also this month I have contributed an article to the API Blog on why insurance is important check it out

 

Smart Property Investment Magazine May 2012 Investor Strategies Revealed

Great feature article on four strategies investors have used to make money: Renovation, Positive gearing, negative gearing and positive cash flow. I have to admit I would agree with the first but the other three seem to me to be finance/cash flow strategies rather than a dedicated property investment strategy. What happens when the negatively geared portfolio over time becomes positively geared does the strategy change? For all of them the primary strategy is buy and hold in areas with good capital growth, others have added a twist to this and manufactured growth with renovation – now they are property investing strategies.

Good article on the 10 questions to ask a property manager and a case study on how to get 10 properties in 10 years. An article on co-ownership and using your First Home Buyers Grant to engage a buyers agent are good reads.

There is a small article on Building on Buildings. This is interesting as one of our properties on Bondi Beach has had enquiries from developers interested in building a penthouse on top of the block of apartments. This might replace the current granny flat craze – keep an eye out and if you have a unit in an area with high demand it might be a revenue generator for you. Something to consider.

FREE MAGAZINE – once again the Editor is going to send me a box of the May edition of the magazine –  the first 30 to request an issue and we will get it in the mail to you. just email Diana at enquiries@yourpropertysuccess.com.au with your name and address and when it arrives we will put it in the mail.

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Disclosure – I purchase with my own money many courses and reports and I give my personal thoughts and opinions on these products and only recommend those I feel of benefit to property investors. In some cases I am invited to be an affiliate of some of these reports, courses and related products and if you buy through my links I am paid a commission. I believe I am not influenced by this, but you need to decide that for yourself, I do believe transparency is vital and hence this disclosure.