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Park Avenue Property Group

Phone: +61 450 605 513

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25.01.2022 Property investing checklist - Obtain Professional advice You now need to obtain professional advice. An investment in real estate is likely to be significant in relation to your current financial position. If you have already discussed the investment with a licensed financial planner or investment adviser and residential real estate is considered the most appropriate in your current circumstances, you will have considered aspects including rental return, maximum capital gro...wth and/or tax effectiveness. You next need to locate a suitable property. Buyers agents like Park Avenue Property Group can assist you in this process potentially saving you money by disregarding inappropriate properties and concentrating on those that are more likely to deliver the highest return and capital increase to you over time. Following that, unless you have cash or other investments that can be converted to cash to make your property investment, the next step is to contact a mortgage broker to help you to secure finance to enable purchase. This will give you the opportunity to ask the broker as many questions needed to alleviate any uncertainty you may have about securing that finance. These days, brokers like Park Avenue Property Group, who assist consumers to secure finance for residential property are heavily regulated and must be licensed (or appointed by a licensee). They must also hold membership of the external dispute resolution scheme and must hold appropriate qualifications including maintaining continuing professional development. The broker should also hold membership of an industry body, like the Mortgage & Finance Association of Australia (MFAA) which triggers a requirement of an additional layer of obligations through compliance with its Code of Practice. Using the services of an accountant, financial planner, solicitor/conveyancer and property manager on your team will also assist you in coming to your decision.

25.01.2022 Another Happy Client - First Home Owner - Investment Property #Location - Top 5 Regional NSW Hotspot with strong local economy and improving infrastructure #Purchase Price: $452,500 #Bank Valuation: $472,000... #Market Rent: $485-$495/week #Gross Rental Yield: 5.6% - Positive Cashflow from year 1 - Brand New 3 bedroom, 2 bathroom, 2 garage - Gated community - Close to shops, transport & medical facilities - High capital growth - Low rental vacancy rate - FHOG & Stamp Duty Concession eligible through exemption criteria If you are looking to purchase your first home, or investment property feel free to email Tony at [email protected] or call 0450605513 for a quick chat to see if we can help find the right property for you. #firsthomebuyer #investmentproperty #positivecashflow #buyersagent #capitalgrowth #Location #realestate #homebuyer

22.01.2022 Newcastle property prices tipped to be more resilient than Sydney.. now may be the right time to buy..

22.01.2022 Refinancing - Traps to Avoid Whether you’re after lower repayments or want to tap into the equity sitting in your home, refinancing can offer a world of benefits. Here are some things to be aware of so that you don’t find yourself hooked into a bad deal.... - Don’t be fooled by the interest rate: Finding a lower interest rate doesn’t necessarily mean you’ve scored yourself a better deal. - Honeymoon rates are just that: Don’t be lured by offers with discounted introductory rates unless you’ve calculated the savings over the life of the loan. - Be aware of the fees:One of the main purposes of refinancing is to lighten the financial burden, however, that doesn’t mean that it’s not going to cost you. While there are traps to avoid, a little expertise can take the stress out of refinancing to save you thousands, fund that renovation, buy that investment property, tor simply find a loan that suits your life a little better. We can guide you through the process.

21.01.2022 Property investing checklist - Other things to consider An investment property purchase should not be an emotional decision. It is a business decision. If the property isn’t as clean as you would like, don’t assume that it hasn’t been maintained unless there are other clues to demonstrate that. ... Cleaning and even simple maintenance tasks are things you can do yourself or have done for you that you can include in your budget. Consider choosing a property based on whether you feel like you could live in it. While it’s still a business decision, you also have to adopt the mindset that you could be selling to an owner/occupier down the track, which could be an emotional purchase for the buyer. If however you plan to rent the property, your decision should be based on what would appeal to the type of individual who wants to reside in the area. If you are thinking about buying an investment property, speak with Park Avenue Property Group today.

20.01.2022 Tips to avoid paying too much for a home - Keep in mind current market conditions. The property market is always changing, so doing this research once and sitting on it for a few months will offer little help. Going to open homes and auctions regularly will give you insight into the current state of the market and how much certain properties are going for. Or you can ask us for help.

14.01.2022 5 Tips to avoid paying too much for a home Knowing what a property is worth is central to avoiding paying too much for it. Following these tips to give you the best chance at paying the right price.... 1. Set a benchmark 2. Keep in mind current market conditions 3. Expand your search 4. Don’t exceed your financial capacity 5. Bring in the experts Still worried? Park Avenue Property Group can help you buy the right property at the right price. Contact us today to find out how.

14.01.2022 First-home buyers need to know - Research potential properties and loans. Knowing the market is crucial, so do some research on the areas you are targeting, check out auction clearance rates and recent sales, as well as price trends in the area. Once you are aware of what you are looking for and the approximate price, the next step is saving a deposit. ... While some lenders will offer loans if you have saved less than the usual 20 per cent deposit, being able to show a record of good saving habits will aid in getting your loan approved. This stage can take considerable time and effort, and with so much information available it can get very confusing. If you are tired of sepnding weekends looking at properties, sick of missing out or just plain frustrated, Park Avenue Property Group is here to help. From applying for pre-approval on the right type of loan, working out what you can afford in terms of repayments and finding the right property, we've got your back.

13.01.2022 Property investing checklist - Collate your information In order to apply for finance, you will need proof of your current income, employment and your assets as well as all liabilities including debts, loans, rental payment, outstanding credit card obligations and any other due payments, for example, buy now pay later commitments. Collate these and also any paperwork that helps support your personal position. For example, if you have been a long-term tenant, get a 12 month ...tenancy statement that proves your capacity to make regular repayments. Before applying for a loan, minimise your current debt load, and if possible, reduce the limit on, or cancel any credit cards you have, as this is perceived by lenders as potential for debt. A fully assessed pre-approval before you start your search will allow you to know what your financial limits are so that you can make an offer when you’ve found a property you like.

11.01.2022 Tips to avoid paying too much for a home - Don’t exceed your financial capacity Even if a lender approves you for a particular loan amount, it doesn’t mean you have to accept it. A higher loan amount means higher interest charges over the life of the loan, increasing the total cost of the property purchase.... Only ever commit to a loan that you can afford alongside your current income and real expenditure. When calculating figures for the price of a home, ensure you also budget for maintenance and repair costs, as well as any other expertise you may require in the purchasing process.

11.01.2022 First-home buyers need to know - How to factor in other costs involved Depending on the property, there can be a number of additional costs, so ask your finance broker what other payments you will face. This can include, but isn’t limited to, stamp duty, loan establishment fees, legal and conveyance services, utilities, property insurance, maintenance and lenders mortgage insurance. ... Be prepared and stick to your budget

11.01.2022 5 Things first-home buyers need to know. With all the government incentives for first home buyers and home builders around at the moment, many people are thinking it's time to get in to the property market. Before you decide to purchase your first property there are a number of things to consider, including your current personal circumstances and financial status.... 5 things to consider before deciding to purchase your first property are: 1. Think about why you want to buy a home 2. Research potential properties and loans 3. Factor in other costs involved 4. Think about your future 5. Get professional help At Park Avenue Propery Group, we can provide expert advice about buying your first home. reach out today for an obligation free chat.

11.01.2022 Rentvesting - enter the property market without sacrificing your current lifestyle As property prices continue to rise, purchasing in a centrally-located or sought-after area is out of reach for the average working millennial. Instead, many are opting to rent rather than buy as it means not having to compromise their inner city or beachside lifestyle. But for those who are still eager to enter the market, there is a way to get the best of both worlds. ‘Rentvesting’ is the ter...m coined for when you purchase a property for investment purposes in an affordable location and continue to live and rent in the area of your choice. An example of how the market is evolving, it is a wealth creation strategy that is popular among the younger generation due to the flexibility it offers in comparison to being an owner-occupier. Research indicates that millennials aren’t interested in purchasing a property in the outer suburbs and then having to commute into the CBD. Rentvesting allows your rental income to cover the mortgage expenses, so you can keep living the lifestyle you want without it costing you any money. For this strategy to work, you’ve got to be a good saver and there needs to be a focus on delayed gratification. It’s all about living within your means. Don’t spend big at the start while you’re building it up. Step away from the mentality of negative gearing and tax minimisation and buy neutrally, or ideally, a positively geared property as this provides higher rental yields. In the past, the great Australian dream was to buy a home on a quarter acre block and then do everything you can to pay that down as fast as possible in the hope of living debt-free. ‘Rentvesting’ is quite the opposite. It says we’re okay with good debt as long as we stick to our budget and keep using the money to invest further. You’ve got to have an open mind and be comfortable with debt. To ensure you have the means and select the right property to make ‘rentvesting’ work for you, contact Park Avenue Property Group to discuss good debt and other strategies that will allow you to maintain your current lifestyle.

10.01.2022 First-home buyers need to know - Why do you want to buy a home? Do you want to live in it or will it be an investment property ? This can help determine the kind of loan you apply for and home you buy, depending on your short and long-term plans. As qualified mortgage brokers and Buyers Agents, Park Avenue Property Group is ideally placed to help you put together a property startegy for the future.

06.01.2022 Tips to avoid paying too much for a home - Set a benchmark Comparing nearby properties that have sold recently is the best way to assess an acceptable price for the property you are looking at and provides a valuable bargaining tool when you are negotiating with a seller or agent. Make sure the properties are comparable, with a similar land size and number of bedrooms, for example, so you aren’t measuring apples against oranges.... We can can give you a list of sales in the area and then you can drive around and look online to do a quick comparison. If you can find one or two similar properties then you can be sure of what the property is worth. Alternatively, engage us as your Buyer's Agent and we'll do all the leg work for you.

06.01.2022 How to get the biggest ROI on an investment property When purchasing an investment property, there are a number of factors that could increase or reduce your potential return on investment. In this case it's not just location, location, location. When considering a property for investment purposes, one of the most important question to ask is 'will be attractive to tenants?'. ... But how do you know what will appeal to someone you've never met? Settling on a handful of locations is a good start. Young families and couples are the ones that drive capital growth and so a location that is within a reasonable distance to schools, entertainment, transport, and an employment hub is one to look out for. Other ideal factors are a low vacancy rate and relatively high rental yield. Although location plays a major role, it's by no means the only defining factor. A lot of people subscribe to the notion when selling investment properties, that they can disregard the quality because you don’t have to live in it. You need to buy a homeowner quality property, because someone has to live in it! And when buying an investment property, you have to have an exit strategy, which will generally involve selling to homeowners as well as investors. To get the most value, you need to think about the demographic of renters who are likely to be living in the area. You have to match the property with the area. When investing in any kind of property, be wary of any danger signs. One of the biggest mistakes Australians make is not knowing what their cash flow is. Bad cash flow is worse than paying too much for the property. It is vital to know how much your chosen property is going to cost after tax, every week after you settle. There’s no point in buying a top quality property if it’s going to send you broke. When looking to purchase an investment property, ensure the expert you are dealing with is actually an expert. Everyone has an opinion on property, be wary of somebody who tells you that their way is the only way to invest, only buying for cash flow is flawed, only buying for capital growth is flawed too. You have to buy property that’s going to work for you. Speak to Park Avenue Property Group, we are here to help.

06.01.2022 Tips to avoid paying too much for a home - Expand your search Look at properties in the suburb next to the one that you want. We find that first-home buyers in particular usually end up buying in the more affordable suburb next door to the one that they first wanted to buy in.... Don't discount these neighbouring suburbs, they could experience future growth du to the "Ripple Effect".

05.01.2022 First-home buyers need to know - Think about your future Just because your current situation allows you to get a home loan, that doesn’t automatically guarantee that you will still be able to service it in five years’ time. Is there a possibility your role at work will change? Are you considering going back to study and reducing your working hours? ... Its important to consider your future goals and priorities before buying your first home

04.01.2022 First-home buyers need to know - Get professional help With so many things to consider, getting professional help is highly recommended. There are many experts in the industry and it is in your best interest to use them for tasks such as property checks, pest checks and any other legal queries. ... Going it alone can prove costly. Avoid nasty surprises down the track by getting the right people to do the appropriate checks for you from the beginning. Contact us for the best expert advice about buying your first home.

03.01.2022 Property investing checklist - Assistance from relatives & friends Talking to friends, family and acquaintances who have already made such an investment, or are currently considering one, can help your awareness of stumbling blocks and potential issues that you might otherwise miss. While any issues you face may seem new, it can help to bounce these off a trusted friend or relative who has been there before.

03.01.2022 Thanks Lou, it was a pleasure working with you.

02.01.2022 Thanks for the recommendation Jake. It was a pleasure working with you.