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Lloyd Edge. Buy Now
Table of Contents
List of Tables
List of Illustrations
Guide
Pages
ABOUT THE AUTHOR
ACKNOWLEDGEMENTS
INTRODUCTION
ON HELP — GIVING AND RECEIVING
LLOYD'S STRATEGY
THE IMPORTANCE OF STRATEGY
AN INDEPENDENT INCOME
THE TRIFECTA STRATEGY
THE TRIFECTA STRATEGY
WHERE INVESTMENT HAS TAKEN ME
STARTING OUT
CHAPTER 1 THE POWER OF WHY: To get it, you must know why you want it
GOAL-SETTING
LIFESTYLE CHOICES
GOAL VS STRATEGY
REALISTIC AND ATTAINABLE GOALS
SMART GOAL-SETTING
DEALING WITH UNCERTAINTY
NO SILVER SPOONS HERE
MY PROPERTY GOALS
GOAL 1: SAVING TO BUY MY FIRST HOME
GOAL 2: MULTIPLE SOURCES OF INCOME
LLOYD'S STRATEGY
GOAL 3: PROPERTY UPGRADE AND FIRST INVESTMENT
GOAL 4: STARTING A PROPERTY BUSINESS
MY CURRENT GOALS
FINDING YOUR MOTIVATION
CASE STUDY THIS NEW INVESTOR'S GOALS CHANGED WHILE SHE WAS ON MATERNITY LEAVE
THE NUMBERS
CHAPTER 2 YOUR FINANCIAL PLAN: Every property owner needs a brilliant budget
SETTING A FINANCIAL GOAL
THE TRIFECTA STRATEGY
HOW I PAID OFF MY HOUSES IN FIVE YEARS
1. I USE AN OFFSET ACCOUNT
2. I USE MY EQUITY
3. I MAKE MORE FREQUENT MORTGAGE PAYMENTS
4. I REFINANCE MY PROPERTIES
REFINANCING LIMITS
BUDGETING
LLOYD'S SAVINGS TIP
1. BE REALISTIC ABOUT WHERE TO START YOUR PROPERTY SEARCH
2. DEVELOP GOOD SAVING HABITS EARLY
3. SAVE MORE BY PRETENDING YOU ALREADY OWN A HOME
MY FRUGAL PHILOSOPHY
TRACK YOUR SPENDING PATTERNS
WHAT LENDERS LOOK FOR WHEN ASSESSING YOUR APPLICATION
WHERE TO START?
LLOYD'S STRATEGY
YOUR FINANCE TEAM
MORTGAGE BROKER. HOW MUCH DOES A MORTGAGE BROKER COST?
HOW DO I FIND ONE?
WHAT DO THEY DO?
SOLICITOR/CONVEYANCER. HOW MUCH DOES A SOLICITOR OR CONVEYANCER COST?
HOW DO I FIND ONE?
WHAT DO THEY DO?
ACCOUNTANT. HOW MUCH DOES AN ACCOUNTANT COST?
HOW DO I FIND ONE?
WHAT DO THEY DO?
1. They need to know your long-term investment strategy
2. They must be experienced in property
3. They must be available
4. They should advise you on ownership structures and entities
OWNERSHIP STRUCTURES
KEEP YOUR RECORDS STRAIGHT
BUYING IN DIFFERENT STATES
LAND TAX IN AUSTRALIA
NEGATIVE VS POSITIVE GEARING
BUYING PROPERTY WHEN YOU'RE SELF-EMPLOYED
BUYING PROPERTY WITH A SELF-MANAGED SUPER FUND (SMSF)
FIVE TIPS FOR PROPERTY INVESTORS AT TAX TIME
1. KEEP RECORDS OF EVERYTHING
2. COMPLETE PROPERTY MAINTENANCE BEFORE EACH EOFY
3. DECLARE ALL YOUR RENTAL INCOME — INCLUDING RENTAL BONDS
4. WORK OUT EXACTLY WHAT YOU CAN AND CAN'T CLAIM
5. UNDERSTAND HOW DEPRECIATION CAN WORK FOR YOU
CASE STUDY $100K EQUITY WITHIN SIX MONTHS ON A $300K PURCHASE
THE STRATEGY
THE CHALLENGES
ACQUISITION
THE RESULTS
THE NUMBERS
CHAPTER 3 GET THAT MORTGAGE: The ins and outs of getting financing approved first go
GETTING PRE-APPROVAL
LENDER VALUATIONS
GETTING IN EARLY
WORKING WITH A MORTGAGE BROKER OVER THE LONG TERM
GETTING THE BEST POSSIBLE LOAN
STRUGGLING WITH SERVICEABILITY
BORROWING CAPACITY FORMULA
IMPROVING YOUR SERVICEABILITY
RAISING A DEPOSIT: DON'T MAX YOURSELF OUT. LLOYD'S STRATEGY
USING LENDERS MORTGAGE INSURANCE (LMI) TO MAXIMISE YOUR DEPOSIT
CREDIT CARDS AND REWARDS
A MATTER OF INTEREST
WHY AN INTEREST-ONLY LOAN?
THE LENDER'S VIEWPOINT
LLOYD'S STRATEGY
FIXED OR VARIABLE INTEREST RATES
OFFSETTING YOUR INTEREST
NEGOTIATING A BETTER HOME LOAN DEAL. LLOYD'S STRATEGY
A REPAYMENTS FREEZE
FINANCING MULTIPLE PROPERTIES AND CROSS-COLLATERALISING
CONSTRUCTION LOANS
BACK TO STRATEGY
CASE STUDY HOMEOWNERS GENERATE OVER $260 000 INSTANTLY
THE LOCATION
NEGOTIATION AND ACQUISITION
THE NUMBERS
CHAPTER 4 BUY YOUR PPOR: Everything you need to know to buy that home
THE COMPREHENSIVE PROPERTY SEARCH
FOUR FINANCING TIPS FOR FIRST HOME BUYERS
1. COMPARE HOME LOANS, AND DON'T BE AFRAID TO REFINANCE YOUR MORTGAGE
2. THINK LONG TERM ABOUT THE EQUITY
3. MANAGE RISK THROUGH INSURANCE COVER
4. TAKE ADVANTAGE OF GOVERNMENT GRANTS FOR FIRST HOME OWNERS
THE GETTING STARTED SESSION
YOUR WISH LIST
LLOYD'S STRATEGY
PHASE 1: THE PROFESSIONAL PROPERTY SEARCH
MUST-HAVES
SUBURBS
THE SHORTLIST
PHASE 2: EVALUATION
PHASE 3: NEGOTIATION AND PURCHASE
AUCTION PREPARATION AND BIDDING
EMOTIONAL PURCHASES
PRE-SETTLEMENT INSPECTION
SETTLEMENT DAY
SEVEN TIPS FOR SECURING YOUR HOME PURCHASE
1. BE PROACTIVE WITH FINANCE
2. BE KNOWN TO LOCAL AGENTS
3. BRING A CHECKLIST TO VIEWINGS
4. SUBMIT AN OFFER IN WRITING
5. GET YOUR OFFER SEEN
6. NO COOLING OFF
7. GOOD TERMS
CASE STUDY PRE-MARKET OPPORTUNITY SECURED IN A HOT MARKET
GETTING STARTED SESSION
THE CHALLENGES
GLEN AND BROOKE'S BRIEF (FROM THEIR WISH LIST):
THE PROPERTIES THAT CAME CLOSEST TO MEETING GLEN AND BROOKE'S BRIEF
RODD POINT
RUSSELL LEA
FIVE DOCK
RODD POINT
THE RESULT
THE NUMBERS
CHAPTER 5 BUY YOUR DREAM HOME: Get ready to take the investment journey of a lifetime
LLOYD'S STRATEGY
WHERE TO START. LLOYD'S STRATEGY
DON'T BLOW YOUR DEPOSIT
USING INVESTING TO GROW YOUR NEST EGG
LLOYD'S STRATEGY
REGIONAL AREAS ARE KEEPING THE ‘GREAT AUSTRALIAN DREAM’ ALIVE
WHY AND WHERE?
THE ‘RENTVESTING’ STRATEGY
CASE STUDY MARY HAD $1 MILLION TO INVEST IN PROPERTY IN SYDNEY
THE NUMBERS
UPSIZING TO YOUR DREAM HOME
OUR DREAM HOME: LILLI PILLI
THE PROPERTY SEARCH
CASE STUDY ENGAGEMENT TO EXCHANGE IN FOUR DAYS!
THE RESULT
CHAPTER 6 BECOME AN INVESTOR: For new investors, the time to buy is right now
RISK AVERSION
ANALYSIS PARALYSIS
FRIENDS AND FAMILY ARE NOT INVESTORS
IT ALL COMES BACK TO STRATEGY
INVESTING IN A HOME VS BECOMING AN INVESTOR
NEW INVESTOR MISTAKE #1: NO GROWTH
DO PROPERTIES IN HIGH-GROWTH AREAS COST MORE?
CASE STUDY BUYING YOUR FIRST INVESTMENT PROPERTY
TONY'S SITUATION
THE STRATEGY
DUE DILIGENCE
A STEP-BY-STEP GUIDE TO INVESTING IN PROPERTY
STRATEGISE — KNOW YOUR WHY AND CREATE AN INVESTMENT STRATEGY
NEW INVESTOR MISTAKE #2: NO STRATEGY
SECURE FINANCE
HOW MUCH DO YOU NEED TO BUY A PROPERTY?
HIRE YOUR DREAM TEAM
FIND A SUITABLE INVESTMENT PROPERTY
NEW INVESTOR MISTAKE #3: BUYING CLOSE TO HOME
NEW INVESTOR MISTAKE #4: NOT ENOUGH RESEARCH
FROM SIGNING TO SETTLING
NEGOTIATING PRICE
AUCTION VS PRIVATE TREATY
BECOMING A LANDLORD
LANDLORD INSURANCE
DREAM TEAM PROPERTY MANAGERS
SEARCHING FOR A PROPERTY MANAGER
CASE STUDY FIRST-TIME INVESTOR ON HER WAY TO FINANCIAL FREEDOM
THE STRATEGY
THE CHALLENGES
NEGOTIATIONS AND ACQUISITION
THE RESULT
THE NUMBERS
CHAPTER 7 CREATE YOUR OWN EQUITY: Mind-blowing profit through property advancement
CAPITAL GROWTH VS MANUFACTURED GROWTH
LEVERAGING YOUR INVESTMENTS
TIMING THE MARKET FOR EXTRA GROWTH
WILL MANUFACTURING EQUITY WORK FOR EVERY PROPERTY?
REGIONAL MARKET STRATEGY
WHY I STARTED MANUFACTURING EQUITY
GROWTH STRATEGIES. LLOYD'S STRATEGY
STRATEGY: RENOVATION FOR GROWTH
STRATEGY: SUBDIVISION AND DUPLEXES
STRATEGY: HIGH-GROWTH AREAS
THE TRIFECTA STRATEGY
FROM NEGATIVE TO POSITIVE CASHFLOW
CASE STUDY FROM $500 000 TO $1.5 MILLION IN PROFIT IN FOUR DEALS
THE CHALLENGE
THE SOLUTION
THE NUMBERS
CHAPTER 8 RENOVATE RIGHT: The do's and ‘maybe nots’ of renovation
SELLING OR HOLDING
STARTING A PORTFOLIO THROUGH RENOVATION
TIPS FOR A SUCCESSFUL RENOVATION
FIND YOUR MOTIVATION
RENOVATE FOR THE MARKET
YOUNG PROFESSIONALS
FAMILIES WITH YOUNG KIDS
BLENDED FAMILIES
DOWNSIZERS AND RETIREES
CREATING EXTRA OFFICE SPACE
TO DIY OR NOT TO DIY
FIRST-TIME RENOVATORS
MY FIRST RENOVATION: INGLEBURN
FINANCING FOR RENOVATION. LLOYD'S STRATEGY
FEASIBILITY
BIG-PICTURE BUDGET
PROFIT ESTIMATE
A RENO-READY PROPERTY
LOCATIONS WITH COMPARABLE SALES
STRUCTURAL RENOVATIONS
USING ARCHITECTS
COSMETIC RENOVATIONS
‘UNIQUE’ PROPERTIES
OUTDOORS
PAINTING
FLOORING
DOORS
LIGHTING
WINDOWS
CLIMATE
RENOVATING THE KITCHEN
RENOVATING THE BATHROOM
RENOVATING STRATA PROPERTIES
CHARACTER HOMES: WEATHERBOARD OR BRICK?
LEWISHAM: MY FIRST CHARACTER HOME RENOVATION
HERITAGE-LISTED PROPERTIES
MANAGING YOUR OWN RENOVATION
WHERE TO START
WHERE TO FIND GOOD TRADIES
ASSESSING QUOTES
HIGH QUOTES
IF THE QUOTE SEEMS TOO LOW…
HELPING TO CUT BACK THOSE COSTS
GETTING THE BUILD FINISHED ON TIME
LLOYD'S STRATEGY
OUTSOURCING YOUR RENOVATION
MY WALLSEND RENOVATION
MY ROCKDALE RENOVATION
CASE STUDY MANUFACTURING $61 000 THROUGH RENOVATION
THE BRIEF
THE ACQUISITION
THE RENOVATION
THE RESULT
THE NUMBERS
CHAPTER 9 READ THE MARKETS: Read the Australian property markets like a pro
THE PROPERTY CLOCK
AUSTRALIAN PROPERTY-MARKET CYCLE FACTS
TIMING THE MARKET TO MITIGATE RISK
LLOYD'S STRATEGY
HOW DO YOU KNOW A MARKET IS REALLY STARTING TO MOVE OR TURN?
SENTIMENT, SUPPLY AND DEMAND
BOOM-BUST MARKETS
$1 MILLION TO INVEST
NEGATIVE GEARING AS A STRATEGY
INVESTING FURTHER FROM HOME
STRATEGIES FOR INVESTING MORE THAN $1 MILLION
WITH MORE CAPITAL, SHOULD YOUR STRATEGY BE FOR HIGH GROWTH OR CASHFLOW?
WHERE DO HIGH-VOLUME INVESTORS LOOK?
WHY MANUFACTURE GROWTH?
WHAT TO LOOK FOR IN A REGIONAL MARKET
REGIONAL PROFILE: THE NSW CENTRAL COAST — A TOP-PERFORMING MARKET. A BEAUTIFUL LOCATION
INVESTMENT MARKET BREAKDOWN — A CLOSER LOOK
LIFESTYLE
TRANSPORT AND INFRASTRUCTURE
VIBRANT CENTRES
EDUCATION
LOGISTICS AND WAREHOUSING
INVESTMENT MARKET INDUSTRY STRUCTURE
KEY GROWTH SECTOR: FOOD
PROJECTS AND OPPORTUNITIES
CHAPTER 10 THE PROPERTY HUNT: Find top locations and properties ripe for investment
WHAT IS DUE DILIGENCE?
HOW TO CHOOSE YOUR SEARCH AREA
GOVERNMENT SPENDING AND INFRASTRUCTURE
GENTRIFICATION
DEVELOPMENT APPROVALS
JOB CREATION
$500 000 TO INVEST
HOW YOUR STRATEGY IS IMPACTED BY LOCATION
ENVIRONMENTAL RISKS
BUSHFIRES
FLOODS
CRIME RATES IN THE AREA
THE PROPERTY HUNT
ABOVE MARKET VALUE
BELOW MARKET VALUE
LLOYD'S STRATEGY
WHERE TO LOOK FOR BELOW-MARKET-VALUE PROPERTIES
A DISTRESSED SELLER
NEGOTIATE THE TERMS OF THE CONTRACT
PATIENCE
WHERE TO START YOUR SEARCH
THE RENTAL MARKET
INSPECTING PROPERTIES
PSYCHOLOGY BEHIND AUCTIONS: TIPS TO WINNING
SET THE PACE OF THE AUCTION
GIVE THE APPEARANCE OF AN UNLIMITED BUDGET
WHEN YOU'VE WON: THE COOLING-OFF PERIOD
1. CONDUCT A BUILDING AND PEST INSPECTION
2. GET QUOTES FOR ANY WORK THAT NEEDS TO BE DONE
3. NEGOTIATE THE FINAL SELLING PRICE
4. ASK ALL THE QUESTIONS YOU DIDN'T HAVE TIME FOR EARLIER
5. EXTENDING YOUR COOLING-OFF PERIOD
LLOYD'S STRATEGY
YOUR BUFFER ZONE
RENTING OUT A PROPERTY
CASE STUDY UNDER MARKET VALUE WITH $200K+ DEVELOPMENT PROFIT POTENTIAL
THE LOCATION
DUE DILIGENCE
NEGOTIATIONS AND ACQUISITION
THE NUMBERS
CASE STUDY THE HIGHEST OFFER DOESN'T ALWAYS WIN
THE CHALLENGES
THE RESULT
THE WINNING TERMS
CHAPTER 11 THE FREEDOM PLAN: As your portfolio sees more growth and cashflow, debt can vanish forever
THE INVESTMENT CYCLE
PLANNING YOUR EXIT STRATEGY
WORKING TOWARD A FINANCIAL GOAL
CORRECTING INVESTMENT STRATEGIES
CASE STUDY INVESTOR BUYS HIS FIRST SYDNEY PROPERTY AFTER A DUPLEX DEVELOPMENT
DREAM TEAM: BUYER'S AGENTS
HOW TO FIND A BUYER'S AGENT FOR YOUR DREAM TEAM
BUYER'S AGENTS' FEES
WHAT A BUYER'S AGENT DOES
BECOMING DEBT FREE
TIME TO SELL
CAPITAL GAINS TAX (CGT)
WORKING WITH AN ACCOUNTANT WHEN SELLING A PROPERTY
UPSIZING TO YOUR DREAM HOME
DOWNSIZING FROM YOUR DREAM HOME
CASE STUDY DOWNSIZERS ACHIEVE $1M INCREASE IN EQUITY IN JUST THREE WEEKS!
THE CHALLENGES
THE RESULT
THE NUMBERS
MY OWN RETIREMENT PLANS
YES, I'M STILL FRUGAL
AND I'M STILL WORKING
GIVING BACK
INDEX
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