Scott O'Neill

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1,140 appearances 15 recordings 2 series first heard Jan 2022 last heard 12 May

Scott O'Neill’s voice in public audio — every appearance, attributed to the second.

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Aussie Real Estate Podcast · Commercial Property - Numbers · 20 Jul 2022 podcast

So it's quite competitive.

You might find the yields are a bit tighter because of that extra competition.

From $1 to $2 million, in this market, it's quite similar, but you're starting to deal with larger type tenancies, maybe multiple income assets, freehold versus strata.

So there's obviously benefits to spending more money.

Once you get over $2 million, almost that $2 to $10 million range, I call that almost the quiet zone of the property market.

There's less competition.

syndicates generally play over $10 million.

So there's, I guess, a lot less competition from those types of guys.

But yeah, if you're lucky enough to have a larger budget, you will be able to play in that quiet zone of the market, which is generally multi-tenant, large freehold sites, very good quality deals.

So dollar for dollar, that's some of the best deals you'll ever find in that range.

Yeah, so this is a really good question to get your head around because if you're taking a mortgage out in this environment, you want to know your true after cost cash flow.

So your real true net position.

So if you're going to go buy a million dollar property, you generally will use a loan.

You know, in most cases, a 70% loan.

So that means you need a 30% deposit.

Now, I'm assuming a 30% cash deposit is used in this case.

So you immediately need $300,000 to buy it.

Now, New South Wales stamp duty for a million dollar purchase is $40,000 or just over.

You're up to $340,000 costs involved.

And then these other costs such as solicitors, valuation and whatnot, like there's probably another $5,000, $6,000, $7,000, $8,000 in that as well.

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