Wednesday, January 24, 2007

Investing in Holiday Homes

I was recently on holiday and as an investor my thoughts couldn't help but turn to investing in real estate in the area we holidayed in. Close to the beach, sun, waves and quite a few people as well as quite a few holiday homes for sale. My wife and I were certainly tempted to buy but I had to look at it as an investment and to be frank, holiday homes are very difficult to make a decent return from, especially with the boom that has occurred around popular vacation areas. So we didn't buy. To me holiday home investments are a life-style purchase rather than a serious investment. However I am sure there are ways to make a good return from holiday homes. I am not an expert in this area but a couple of things I would look at is popularity of the holiday spot, and the length of time that an area attracts tourists e.g. swimming in summer and skiing in winter. Have you got some tips that can turn a holiday home investment from a drain on your finances into a positive cash flow investment. Blog in with your comments and ideas. In the meantime, happy and successful investing.

Friday, January 12, 2007

Real Estate Advice for Friends

Recently I had some friends who live in Australia over to see us. Apart from all the normal catch-up talk we got to discussing real estate as they have a house here which they rent out to family. Inevitably there have been problems and their family will be evicted by the end of the month. I related my story about a friend who we rented a property to, we even dropped the rent (as they had done) and we also had to evict that friend. I said to our friends that we don't rent to family or friends because we want to keep them as family or friends. It seems that when the tenants know us well they abuse the situation so we have learnt our lesson and so have our friends. How about you? What bad experiences (or good) have you had with family and friends? Blog in and give us some insight.

Tuesday, January 09, 2007

Property Goals

Hello hope you all had a great Xmas and New Years. I took a long break break from many things (except sun and play) but I still thought about property and what I want to achieve this year. Everybody talks about goals or New Year's resolutions if you want. I am no exception and have come up with some for my family, work, health and of course my investment goals.
We have decided on the following goals - to purchase one residential property that we can erect another dwelling on; erect a house on a beachside section (not waterfront) that we purchased last year; complete the purchase of a CBD apartment that we signed up for in 2006; sell 2 lakeside locality sections we will settle on in March/April this year; investigate and complete a small motel development if the numbers stack up; have $100,000 after tax cash in each of our 2 companies by the end of 2007. Why am I telling you my goals? Because I have now announced these to the world and this gives me extra motivation to achieve them. So post your goals and see if it works for you. It may be the major spur you need!!!