Literally something I'm mulling right now, useful information as usual!

It’s definitely heading that way; also as the Australian property market is a house of cards need to balance a good one that’s not too expensive when inflation & rates explode more again in the near future.

Exactly right

Damn this is so good

Wow...great ...❤

Great video! Thanks for sharing 😀 just wondering.. I know you've done the majority of your house's renovations to save money but for non diy people who want to add value but need professionals.. do you need to have the cash for this on top of your deposit and legal fees etc or is there another way?

@lukewiles1

Жыл бұрын

You can potentially finance renovations with the bank. We've paid tradies for some key jobs like plumbing, electrical and structural work and have typically paid this out of cash.

Great video..we r currently in a townhouse in a really good suburb in sydney . Nowbwe are really confused whether we should take a bit of a risk and really big mortgage 😅n invest in a bigger home ( probably older construction) to get good appreciation down the road or should we continue to live in this one and buy smaller investment properties .Could you please reply or do a video on a situation like this too

@michaelmallal9101

3 ай бұрын

Why not bet everything on the wheel?

You can buy 3 properties in a year, why would it take you 3yrs? Doesn't make sense

Did you buy interstate to diversify? If not, why?

@lukewiles1

Жыл бұрын

There were a few reasons we looked interstate. Mainly diversification, price point (potentially cheaper in a large regional location than in a capital city) , land tax and value add potential on the property

Works only up to a point. You buy a 3 million dollar house you will have a problem selling it as there are only so many people who can afford to buy that house. You’re better off buying 3 x 1 million houses all in different areas.

@BIGIFANDYELLOWCARD

10 ай бұрын

The same goes for renting. The people looking to spend nearly $2,000 a week in rent in VERY low.

@user-wc5gi2lz3n

10 ай бұрын

It's actually the opposite - there is a LOT of money out there, especially with foreign investors and immigration. There would be 200 million Chinese and Indians who would come to Australia and buy a property tomorrow if they could. So demand is extremely strong and its not going to change for 10 years, at least. Also, the more expensive the property the more likely it will be sold because its more attractive and the buyer shave the money - the issue will be relative value not price. Buying multiple properties is a risk hedge.

@dsinghr

7 ай бұрын

Generally people who are in the market for buying 3 million house, money is not real consideration. If they like it, they can pay much higher than an average consumer who buys 1 million property on mortgage

@chrisb3189

4 ай бұрын

Then why haven't the prices at the top end of the market gone down?

Not a word about tax free capital gains. The reason smart people pour all their money into principle place of residence.

@colbyzurlini8740

3 ай бұрын

Smart people just move into the investment and call it their ppof

@zengfamily8390

2 ай бұрын

@@colbyzurlini8740ATO isn’t stupid, they will figure it out

I don't have any rental properties. However I do have an investment property. I have a dilapidated dog box in Sydney on a large block of land. My dog box is worth over 2 million dollars, however it would only rent for $450 a week, if rented out. It's basically a knock down house. However this is my investment property that I live in. Its an investment as it increases in value at more than twice the rate of inflation & since I live in it, it's capital gains tax free. Basically if I rented this property out, I would pay more in capital gains tax, than I would receive in rent. So basic it's best to just live in the place & mabe one day build a nice house. In the meantime it's refered to as my land bank.😮

@RealSteveBuscemi

10 ай бұрын

Hi it’s me famous actor Steve Buscemi I’d like to buy your dog box

@SunRise-ul7ko

10 ай бұрын

@@RealSteveBuscemi Unfortunately it's not for sale.

@chrisb3189

4 ай бұрын

Is it still an investment if it doesn't make cashflow and you have issues accessing the capital gain?

Don’t agree at all. The growth rate can be higher if you choose a good location, regardless of price. I was a postie for a rich area, not all renters had money, ie not all high earners had money.

In the end luke is here to sell his business. God advertising strategy 😮

1 million not really higher socio-economic nowadays; though I don't live in one. Guess I'm lower socio-economic hobo?

@ChefBlairSilva

15 күн бұрын

Yes

Said nothing