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I have 2 Airbnb. One in Melbourne South Yarra, one in Hobart area. The net income is more like 7 to 8%. We want to talk about net income to compare apples with apples, so we already take all fees into account, that includes management and platform. My bank takes my tax return and takes a 40% cut of the rental income from Airbnb. So absolutely it will reduce your borrowing capacity and if you want to grow your portfolio then you should avoid it. In terms of maintenance, my Hobart house actually wear less, in terms of the kitchen as they are out all the times and rarely use them. My property manager takes care of maintenance, such as on call emergencies, so I don't lose my sleep. There is more work when setting up, I was fortunate that the vendor was moving interstate and wanted to get rid off his furniture so I bought everything for $5000. Over the years,I did replace some beds and mattress. Overall, I agree with you if you are ambitious and wanting to have a large portfolio. It is, however, suitable for people who want have one so they manage themselves for extra income, especially if the person has the time to do it.
Furnishing costs doesn't cost 70 or 100k over unless you have luxury house with luxury furniture. You can do away with less than 10k for a 4 bed house if you buy a look for 2nd hand properties. If buying brand new, under15k- 20k still very possible.
Yes like I said depends on the range.. so many variables involved.. but those people I’ve seen do it well generally is above $50k-100k to fit our whole house including soft furnishing
A lot of TH-camrs talk about cash flow positive properties and yield above 6% but yet to see anyone actually give a suburb that’s performing like that.
If you do airbnb, you pay CASH for it and that way you can enjoy the cashflow. Dont finance it, you cannot guarantee your capital growth nor your occupancy rates. It needs to be 20% of your total net worth and cost only 15% of your net cash flow to operate so you don't give a fk since a holiday home is a luxury item
Hi PK, Im interested in joining the group. Im currently looking at getting a PPoR before Rental, I am a high income earner and can go big for my first property, 1.5-1.8M is what I am aiming for in the Perth area where I currently rent. Is there any advice you could give me regarding PPoR purchasing? I am going to eventually amass a large portfolio of investments but this is what im aiming for first, as PPoR is the only tax free investment you can really make and I want to capitalise on it. Cheers mate!
@@AusPropertyMasteryWithPK thanks so much mate really appreciate it. Any good sites I can use to find growth areas? I can only really find data about good places to get high rental yields but not as much capital gains. Is the old token worst house on the best street valid? The nice areas in Perth are mostly all up 10-15% in the last 12 months
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❤ JOIN THE COMMUNITY & GET FREE SUBURB TIPS + STRATEGIES
💡 Private Facebook Group With Over 40,000 Clients & Investors 👉 facebook.com/groups/passiveincomethroughproperty
💡 Top Ranked No "BS" Podcast On Spotify/ iTunes/ Google 👉 consultingbypk.com.au/podcast/
I have 2 Airbnb. One in Melbourne South Yarra, one in Hobart area. The net income is more like 7 to 8%. We want to talk about net income to compare apples with apples, so we already take all fees into account, that includes management and platform. My bank takes my tax return and takes a 40% cut of the rental income from Airbnb. So absolutely it will reduce your borrowing capacity and if you want to grow your portfolio then you should avoid it.
In terms of maintenance, my Hobart house actually wear less, in terms of the kitchen as they are out all the times and rarely use them.
My property manager takes care of maintenance, such as on call emergencies, so I don't lose my sleep. There is more work when setting up, I was fortunate that the vendor was moving interstate and wanted to get rid off his furniture so I bought everything for $5000. Over the years,I did replace some beds and mattress. Overall, I agree with you if you are ambitious and wanting to have a large portfolio. It is, however, suitable for people who want have one so they manage themselves for extra income, especially if the person has the time to do it.
Thanks for sharing your real life experience
Nice one PK great review. Great for lifestyle locations such as Gold Coast,Northern Beaches,Wollongong and Bondi.
Thanks as always for your content PK. GREAT VID. Perfectly explains the pros and cons. Thank you. That was extremely helpful.
Cheers 🙏🏼
Furnishing costs doesn't cost 70 or 100k over unless you have luxury house with luxury furniture.
You can do away with less than 10k for a 4 bed house if you buy a look for 2nd hand properties. If buying brand new, under15k- 20k still very possible.
Yes like I said depends on the range.. so many variables involved.. but those people I’ve seen do it well generally is above $50k-100k to fit our whole house including soft furnishing
Your voice sounds like Ray Comfort! Cheers for the advice!
A lot of TH-camrs talk about cash flow positive properties and yield above 6% but yet to see anyone actually give a suburb that’s performing like that.
I’ve done dozens of videos on exactly that.. even given suburbs in Perth etc .. just find the view
Quick question how can do airbnb on house am going to move overseas anyway idea and i never did before
Hey PK, about to do Airbnb now, but what if we're able to flip back to long term at 7% yield? Does that change your view?
That’s better as long as it’s in a growth area per data
No way I’m doing ABNB if the banks don’t recognise the income to leverage up to the next property
Exactly
Another great video.
🙏🏼
If you do airbnb, you pay CASH for it and that way you can enjoy the cashflow. Dont finance it, you cannot guarantee your capital growth nor your occupancy rates. It needs to be 20% of your total net worth and cost only 15% of your net cash flow to operate so you don't give a fk since a holiday home is a luxury item
Hi PK, Im interested in joining the group. Im currently looking at getting a PPoR before Rental, I am a high income earner and can go big for my first property, 1.5-1.8M is what I am aiming for in the Perth area where I currently rent. Is there any advice you could give me regarding PPoR purchasing? I am going to eventually amass a large portfolio of investments but this is what im aiming for first, as PPoR is the only tax free investment you can really make and I want to capitalise on it. Cheers mate!
Hey my advice would be to optimise your location as much as your heart allows to buy in the best growth location for short term and long term
@@AusPropertyMasteryWithPK thanks so much mate really appreciate it. Any good sites I can use to find growth areas? I can only really find data about good places to get high rental yields but not as much capital gains. Is the old token worst house on the best street valid? The nice areas in Perth are mostly all up 10-15% in the last 12 months
Another superb video , PK. U are the best. Your logical thinking and long-term vision is unmatched.
Thanks!
its a warm winter, you're still wearing a shirt
👍🏼
I think he’s in Queensland